Ligence is the perfect example of a successful start-up journey in the EIT ecosystem. They started as rookies in the EIT Jumpstarter back in 2019, finishing second in the Health category, then won EIT Health’s InnoStars Awards a year later. Now they are working with hospitals and planning to release their product in the summer.
Ligence’s mission is to reduce the workload on medical teams. And they are on pace to deliver on it, as Dovydas Matuliauskas CFO of the company told eitjumpstarter.eu: “Ligence Heart is a software application which is essentially an image viewer for medical ultrasound images. It uses deep learning to automatically analyse those images, therefore, relieves medical doctors from having to manually perform the measurements of the heart’s anatomical and functional features. Our product is scheduled to become commercially available in Europe in the summer of 2021”.
They were the runner-up team in the Health category at the 2019 edition of EIT Jumpstarter. Dóra Marosvölgyi, Programme Manager at EIT Health remembers how the idea of the Latvian team started to take shape: “Arnas and Karolis, two rather silent medical doctors, sitting in the first row at the Jumpstarter Bootcamp in Budapest. During mentoring I approached them with the usual questions about accession to data, data protection and existing institutional background, they were prepared and had a realistic plan for technological development, and in the Jumpstarter they formulated the best-fitting business model for Ligence. It is great to work with a team as conscious and dedicated in this early-stage as Ligence, I am sure that their focused approach is a major element for their success.”
A year later they won the InnoStars awards, which was established by EIT Health InnoStars. This competitive programme for EIT Regional Innovation Scheme (RIS) countries is designed to help start-ups validate the need for their healthcare innovation, attract investors and shorten the time it takes to get ideas to market. After the Award ceremony Justin Balčiūnas, Operations Manager at Ligence was confident that they will deliver on their promise: “Thanks to the received funding, our company can solve the problems of assessing the heart damage of COVID-19 patients more quickly and allocate more human resources to this project. The funding will allow the costs associated with the development of R&D to be paid for.”
They posted on LinkedIn in early 2021 that their product will hit the markets during summer, and they are also planning another round of raising funds by end of Q3 this year.
Feel free to follow them on LinkedIn: https://www.linkedin.com/company/ligence