EIC Corporate Corner: Fresenius Kabi and Medtronic on partnering with EIC innovators

The European Innovation Council regularly organises matchmaking under its Corporate Partnership Programme to connect large corporates with EIC-funded startups and projects. In mid November 2022 the EIC staged an online Corporate Day co-hosted by Fresenius Kabi and Medtronic that brought 20 selected EIC innovators into pitched sessions with corporate representatives. The event illustrates how established health industry players are using curated discovery formats to source technologies and partners, and how startups can sharpen their approach to corporate engagement.

Event in brief

Why corporates join EIC Corporate Days

Both Fresenius Kabi and Medtronic explained their rationale for participating. The EIC offers a curated pipeline of companies that have reached proof of concept or otherwise demonstrated potential. For large corporates that need to screen many emerging technologies quickly the selection and pre‑qualification performed by the EIC reduces search costs and screening time. The format was presented as a time efficient way to meet multiple innovators whose pitches were tailored to corporate interests.

Fresenius Kabi: targeting cell and gene therapy and systemic challenges

Stefan Kolb, Vice President at Fresenius Kabi, described innovation as essential and said open innovation will become more important for the company. Fresenius Kabi used the Corporate Day specifically to expand its footprint into cell and gene therapy. The company sees the field as scientifically dynamic but resource intensive and time consuming for an individual corporate to develop alone. Kolb framed partnerships as a pragmatic route to share costs and expertise.

Kolb also pointed to systemic issues that affect innovation choices such as the role of big data and policy trends including the European Green Deal. He suggested collaboration with other companies will be beneficial to address cross cutting challenges in data management, sustainability, and compliance.

Medtronic: seeking AI, data and robotics partnerships across portfolios

Yves Bayon, a scientist at Medtronic, positioned innovation as core to the company mission to accelerate access to healthcare technology. He noted that Medtronic draws on the internal expertise of around 12,900 engineers and scientists worldwide and on partnerships with universities, public bodies and startups to address health system challenges.

Bayon said it was too early to judge specific investment or acquisition outcomes from the Corporate Day but stressed the value of meeting new companies and learning about new technologies. He emphasised transparency from startups about technical achievements and a clear explanation of next milestones as critical to progressing discussions.

What corporates look for and advice for startups

Both corporate representatives gave practical advice for innovators who want to work with them. Common themes were clarity, transparency and stage appropriate ambition. Presentations that are tailored to the corporate audience and that clearly state technology readiness, key milestones and realistic next steps were seen as most effective.

A realistic read on outcomes and risks

Curated corporate days shorten the discovery phase but they are not a guarantee of deals. Follow up meetings are a positive signal but converting them into contracts, co development projects or acquisitions typically requires further technical validation, commercial due diligence, negotiation on IP and regulatory planning. Integration risk for corporates and dilution of focus for startups are real issues. Startups should therefore use these opportunities to secure funded pilots or clear milestone based agreements that protect both parties.

Implications for the European innovation ecosystem

These corporate days reflect a pragmatic shift by large health companies to outsource risk and tap specialised innovators. For the EU innovation ecosystem this is positive because it can accelerate translation of deep tech into products and services. It also highlights the importance of intermediary actors that can match readiness levels and strategic fit. From a policy perspective continued investment in scaling capabilities for manufacturing, data infrastructure and regulatory harmonisation will be necessary to turn early collaborations into sustainable industry growth.

At the same time stakeholders should be cautious about overinterpreting early engagement metrics. High follow up rates are encouraging but do not directly measure commercial success. Monitoring how many engagements progress to funded pilots, regulatory submissions or market launches would provide a clearer picture of impact.

Next steps for innovators

Startups and research teams that want to connect with corporates are encouraged to prepare stage appropriate materials, lay out clear development milestones and consider structured partnership models. The EIC Business Acceleration Services maintains an event calendar with corporate days and matchmaking events that innovators can use to find similar opportunities. Participation in EIC curated events can increase visibility but converting meetings into partnerships takes disciplined follow up, transparent evidence and often third party validation.

For innovators the immediate tactical priorities are to document technical readiness, plan regulatory pathways early and prepare pilot proposals that include measurable milestones and risk sharing. For industry partners the challenge remains to convert discovery into scalable, sustainable relationships that respect startup independence while delivering on corporate operational needs.