Savant Secures Much-Needed Funding For Incubatees

Savant understands that early stage companies need funds to develop technology, operate and grow. Savant sources the right type of funding from the most suitable investors, including government-based investors such as the Small Enterprise Development Agency (SEDA) and Technology Innovation Fund (TIA).

Savant has recently secured government funding from TIA and SEDA funding for Akili Labs and Formfoods, respectively.

Akili Labs

Akili is an early-stage biotech start-up that developed a low cost rapid medical diagnostic solution used for diagnosing viral, bacterial and fungal infections. Akili required the funding to further develop their medical diagnostic solution. In order to meet this need, Savant secured seed funding from TIA, a fund dedicating itself the development of technology that creates a sustainable competitive advantage.

Form Foods

Formfoods is at a later stage of its business cycle than Akili and is in the process of expanding its product offering internationally. International expansion places pressure on company finances and Formfoods needed financial assistance in order to procure much-needed factory equipment for its offshore operations. One of SEDA’s contributions towards assisting companies excel is the Technology Transfer fund (TTF). SEDA approved a TTF funding application made by Formfoods thereby easing the financial pressure on Formfoods in acquiring the factory equipment.

We thank SEDA and TIA for their great contributions toward building a better economic future for our country.

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