Bioavlee concluded an investment agreement with DFR Inwestycyjny, a subsidiary of Dolnośląski Fundusz Rozwoju. Under the agreement, our start-up is to receive PLN 2 million and DFR is to become a shareholder of Bioavlee. This is the first venture investment of DFR.

“We feel both honoured and grateful because of being the first portfolio investment of DFR Inwestycyjny. The new investor will join several others who also have ties with Wroclaw – this clearly shows that an environment encouraging actual major innovation is emerging in the Lower Silesia region. Thanks to our cooperation with DFR, dated solutions will be replaced with modern automated lab processes,” Michał Wronecki said at a conference announcing the conclusion of the agreement which took place at Wroclaw Technology Park. Marek Ignor, the president of DFR, and Cezary Przybylski, the marshal of the Lower Silesian Voivodeship, also took part in the event.

I believe that particular attention needs to be paid to innovative companies and companies with significant growth potential which will contribute to developing the economic potential of the region. Being the state partner, we would like to eliminate an immense shortage of capital. According to IBS 2013 data regarding the innovation sector in the Lower Silesia, almost PLN 1 billion of funding was lacking, said Marek Ignor, the President of DFR. Currently, there are 50 companies in the pipeline which are interested in collaborating with DFR Inwestycyjny. We assigned PLN 25 million to performing that pilot programme.

Dolnośląski Fundusz Rozwoju, being a specialised regional financial institution owned in its entirety by the local government of the voivodeship, shares the economic vision of the Lower Silesian province government consisting in supporting small and medium-sized enterprises. In addition to proposing repayable financial instruments to companies from the Lower Silesia region, Dolnośląski Fundusz Rozwoju also makes investments as part of DFR Inwestycyjny. The purpose of DFR Inwestycyjny is to financially support the development of micro enterprises, small companies, and medium-sized companies from the Lower Silesia region. DFR is owned in 100% by the Lower Silesian Voivodeship Marshal Office.