BioVentureHub 2.0
Reference number | |
Coordinator | AstraZeneca BioVentureHub AB |
Funding from Vinnova | SEK 20 718 035 |
Project duration | January 2020 - December 2024 |
Status | Completed |
Venture | 2017-01599-en |
Important results from the project
The aim of BioVentureHub has been to strengthen the ecosystem within Life Science and accelerate SME development by providing industrial expertise and infrastructure. Furthermore, the project has aimed to enable industry to prioritize interactions and knowledge exchange with academia and smaller companies. These objective have been achieved. The innovation model that has been developed has been adapted and used in industries other than the pharmaceutical industry (e.g. Volvo AB and ABB).
Expected long term effects
After the completion of the project, AstraZeneca has chosen to continue running BioVentureHub and decided to increase funding. Furthermore, AstraZeneca has initiated two subsequent projects, both of which are based on the lessons learned from BioVentureHub. In collaboration with AWS, EIT and HealthCap, we have started CELSI, an incubator for start-ups, in partnership with Vinnova. Furthermore, work is underway to establish a national platform for innovation development in sustainability.
Approach and implementation
BioVentureHub has been run as two sub-projects of five years each. The working methodology and selection criteria have been successively further developed, among other things we have entered into strategic partnerships with foreign innovation authorities and increased the geographical coverage area. The project has actively worked with sustainability in focus and all lab based SMEs have been certified regarding their sustainability work. The project has been run in accordance with the schedule.