Local Biotech Firm Receives International Grant of $40,000

Santiago, Chile- Frederick Innovative Technology Center-based biotech company, LavaAmp, has been selected as one of 110 companies worldwide to participate in the prestigious and world-recognized program, Start-Up Chile. After receiving 329 applications, LavaAmp was chosen to receive $40,000 USD, a 1-year work visa and access to local financial and social networks– the objective is to raise capital, hire talent, create networks, and to start their businesses from Chile while leveraging and interacting fully with the local entrepreneurial ecosystem.

LavaAmp is a handheld device for performing DNA analysis that is faster, can be run on AA battery power and is an order of magnitude less expensive than existing technologies. It is ideal for diagnosing infectious diseases in remote areas with little access to health care.
LavaAmp can be used for far more than field diagnostics, including areas like veterinary diagnostics, food safety, education and research. The aim is to offer not just a device for molecular diagnostics but to provide a full platform for researchers, doctors and hobbyists to develop their own tests for their specific needs.

Start-Up Chile is a program created by the Chilean Government, initiated by the Ministry of Economy and is executed by Corfo/InnovaChile, which seeks to attract early-stage entrepreneurs to bootstrap their businesses in Chile. In line with the national goal of converting Chile into the innovation and entrepreneurship hub of Latin America, the program plans to bring 1,000 projects to Chile by 2014.

For more information on LavaAmp, visit their website at www.lava-amp.com.