Clinical Innovation Fellowships: innovation and value creation
| Reference number | |
| Coordinator | KUNGLIGA TEKNISKA HÖGSKOLAN - KTH Centrum för teknik i medicin och hälsa |
| Funding from Vinnova | SEK 4 092 000 |
| Project duration | June 2013 - November 2016 |
| Status | Completed |
Important results from the project
The goal of the initial application was to "create a springboard for Clinical Innovation Fellows to start a business in medical technology after the program ended." We believe this has been well met by the investment and implementation. 7 new companies have been established, which together have over 9 million SEK in additional funding. Given the comparable results of the team that didn’t receive funds through this project, the majority of these businesses would not have started without funding.
Expected long term effects
The springboard that this effort has resulted in for these companies contribute greatly to the creation and continuation of a start-up scene for medical technology in Stockholm. The funds have gone to companies to enable them to strengthen their business plans with market research, patent work, competitor analysis and prototype development. This has been successfully used to make them ready to seek and obtain further funding, both private and public.
Approach and implementation
The funds obtained from Vinnova has been distributed by KTH to the companies formed by teams that completed CIF and where the participants received the title of Clinical Innovation Fellows. The teams have been awarded funds after applying by presenting a business plan and project plan for an expert jury that made recommendations to the project which then made the decision. This process has been successful based on the number of teams that received money and also started businesses.