The six start-ups participating in the Venture Challenge Fall Edition are: ExBiome, MaMaLoc, Novioscan, STENTIT, Synamp Pharmaceuticals and U-Pact. All teams completed two bootcamps where they have been working on their business cases. Placing themselves in the shoes of their future customer helps to gain in-depth understanding of the value of their idea. And learning about the assumptions that are key to their venture. Finally, the teams pitch their venture for an expert jury who will decide which venture has the most potential to successfully bring their product or service to the market or patient.

The LifeSciences@Work Accelerator is a part of the valorisation strategy of the Top Sector Life Sciences & Health and one of the ways the Top Sector stimulates new innovations in the sector.

If you want to know more about the six start-ups and who will win the 25.000 prize money join Health~Holland on the Dutch Life Sciences Conference on 23 November, Agora theatre Lelystad.

Venture Challenge Teams

ExBiome: Novel urine tests detecting early stage cancer and predicting treatment outcome

MaMaLoc: Accurate and hassle-free tumor localization

Novioscan: Wearable ultrasound devices to address continence problems

STENTIT: Life-saving stent technology for pediatric patients with narrowed aorta

Synamp Pharmaceuticals: New generation antibiotics to treat drug resistant infections

U-Pact: Platelet diagnostics for better prediction of bleeding risks

Penalties
At this moment, the maximum administrative fine for non-compliance with the Dutch Data Protection Act is EUR 4,500, and the Authority has limited power to impose a fine. However, this situation will change as of 1 January 2016. From that moment on, the Authority will be able to impose fines for non-compliance with a substantial amount of provisions of the Dutch Data Protection Act. Also, the maximum amount of the possible fine will increase substantially: non-compliance with the obligation to notify can result in a fine up to a maximum of EUR 810,000 or even 10% of the annual net turnover of a company, per violation. The Authority is generally required to give a binding instruction before imposing a fine.

What does this mean for your organisation?

When a data security breach is discovered, your organisation will have to notify this immediately to the Authority and, in certain situation, to the data subjects concerned. As the notification has to be done immediately (as soon as reasonably possible), it will be too late to draw up a plan of action at the moment that a data security breach is discovered. Therefore, as from 1 January 2016, each organization needs to have an action plan for the unlikely event of a data breach.

The workshop will zoom in on practical, technical, organizational and legal topics. Interested in attending? The workshop will take place at Loyens & Loeff in Amsterdam on 26 November at 16:00 PM. Contact Loyens & Loeff to register.