The fund, established at the University of Iceland, began with the companies’ initial combined contribution of $1 million. It will award international grants for scientific research and innovative projects in the field of advanced neural control of prosthetic limbs, explains a media release from Össur and Ottobock.
The first grants from this fund will be awarded within 1 year. A four-person committee comprised of two University of Iceland representatives and one representative from each company will govern the fund, per the release.
“Neural-controlled prosthetics is one of the greatest clinical challenges in our field, and its potential to impact lives is so significant that both companies embraced the opportunity to marshal resources and help accelerate this critical technological development,” says Thorvaldur Ingvarsson, MD, PhD, executive vice president of research and development at Össur, in the release.
“Neural-controlled prosthetics could transform the lives of thousands of people with limb loss throughout the world, and we look forward to supporting the ongoing exploration of the field through the creation of this new fund,” states Dr Hans Dietl, chief technology officer at Ottobock, in the release.
Dr Jón Atli Benediktsson, Rector of the University of Iceland, notes in the release that the grant application process will be announced in the future.
[Source(s): Össur, Ottobock, Business Wire]