Inbentus is an engineering, consulting and medical technology company that was born with a multidisciplinary purpose thanks to the initiative of a group of professionals and leading companies in different sectors. They have joined forces and knowledge to provide solutions through the creation of innovative products.
Thanks to the company's network of contacts and relational capacity, its range of action to develop projects with the collaboration of private and public companies, allows Inbentus to offer cutting-edge technology and innovation in a short period of time. This is especially important when designing and manufacturing products as necessary as the SAV-19, an automatic mechanical ventilator to face the Covid-19 and the global health crisis.
Located in the Region of Murcia, they maintain a clear commitment to the development of new technologies and are committed to human capital as the driving force behind their growth.
El Referente talks to Rafael Valverde, co-founder of the project, who says that Inbentus was born from "a group of people with concerns who, when we found ourselves locked up at home back in March 2020, thought we had to do something".
You are immersed in a capital increase on Crowdcube, why did you choose this platform and this method?
We all know Crowdcube and together with two or three other platforms (some of them Spanish), it is one of the most important and with the largest register of investors at European level. In this sense, it has been easy to decide.
Crowdfunding has always been something that has caught our attention. Because of the pandemic, our project has acquired a high social and human component. In a way, crowdfunding allows the small investor, and the ordinary person, to be able to do their bit for no more than 12.5 € to support an initiative born to save lives.
You expect to reach a total of 200,000 euros. Why should investors bet on you?
In 8 days we have managed to raise the 200,000 € target on Crowdcube. We expected it to be slower, but the project is having an incredible acceptance. Now our next goal is to reach 250,000 € where it is very likely that we will close the expansion.
INBENTUS has a project that is needed at the national level. We must develop the medical industry to be prepared for situations such as those we have experienced.
As a team, we can say that fortunately or unfortunately, we are one of the few who have developed a respirator in Spain and have technically approved it, in addition to having sold several units. We have already been there, we know what it is and the work involved, which is not little. In addition to the above, we have business experience in different sectors. The founding team has an average age of more than 40 years with professional careers in different fields such as engineering, finance, HR and sales. We know what entrepreneurship is all about.
What will the proceeds go towards? What is your goal with the proceeds?
The proceeds, together with non-refundable grants from the Regional Administration, will go towards the development of the new high-tech ICU ventilator with a focus on emerging economies.
You have already attracted private and public investors, why is it important for both to bet on entrepreneurship?
It is essential that they bet on entrepreneurship.
The trinomial of entrepreneur, private investor and government is responsible for creating and developing part of the future industrial fabric of a country. Without investors and the government, the entrepreneur cannot undertake such an enterprise.
Your motto is Democratizing medical technology, who doesn't have access to it? Who do you bring it to?
Emerging countries have a serious problem in acquiring reliable medical equipment at a price in line with their economies.
The problem is that many of these countries have to choose between acquiring premium equipment, usually European and North American, at high prices, or acquiring Asian equipment at half the price. The latter, obviously, with significantly lower performance and quality.
INBENTUS has already developed one team and is developing another with a clear focus on meeting the healthcare needs of these countries. That is to say, including only what brings them value and guaranteeing quality and reliability according to European standards.
How important are respirators in the medical field? Why are they essential?
Many of us associate respirators with COVID and fall far short of seeing the real magnitude of the problem.
Ventilators have been, are and will continue to be essential for thousands of respiratory pathologies around the world. Without them, millions of people would die every day beyond COVID.
According to a study by the World Health Organization, respiratory pathologies are the third leading cause of death worldwide, causing more than 10 million deaths per year. In one year, COVID has caused 2 million.
What are the characteristics of your first ventilator?
The first ventilator was born with a single purpose: to save lives during the pandemic.
We used all our energy and savings to make a reliable, economical ventilator that could be manufactured in 2 or 3 days with the objective of being provided to the public health system.
Therefore, it is a respirator to be used in emergency health conditions. We are now developing another high-tech device for the post-pandemic phase.
How has it been created and developed?
The project was born out of the frustration and helplessness we experienced during the first week of confinement in Spain, back in the third week of March 2020.
We saw that many people were dying because they did not have access to respirators and we decided to put all our knowledge at the service of society in an altruistic way. We could not stand idly by.
We developed it, manufactured it and put it into operation in four intense weeks in which we hardly slept. Particularly in my case, I had to turn my son's room into an improvised workshop where I could test and program the equipment. It was a real adventure.
How do you expect your product and market to evolve in 2021?
The new ventilator will be ready for commercialization by the end of 2021. Development is progressing consistently and in a few months we will have a final prototype on which we will perform validation tests.
There are several market studies that visualize a growth in the medical ventilator sector of 16% per year until 2030, mainly due to the growth of the world's population combined with the increase in life expectancy. In the coming years, there will be more of us and we will live longer and this will cause respiratory pathologies to increase exponentially.
Where are you now?
We are in a very interesting phase of the project. The engineering team is working on something very nice as it is to create a unique device in Spain that will help thousands of people. In addition, during the capital increase, we are meeting really great people who, to a greater or lesser extent, are betting on a project that will be very exciting.
Reference: Inbentus, engineering, consulting and medical technology company (elreferente.es)
