FiBu, a sustainable bio-based packaging solution - verification
| Reference number | |
| Coordinator | Fibu AB |
| Funding from Vinnova | SEK 900 000 |
| Project duration | June 2021 - February 2022 |
| Status | Completed |
| Venture | Innovative Startups |
| Call | Innovative Startups step 2 spring 2021 |
Important results from the project
The project´s objectives have been fully met. Objectives of the project were to: - validate product functionality - establish a pilot production facility - develop Fibu´s IPR base and secure Freedom to operate - secure strategic partners - update Fibu´s business plan - start building a client base
Expected long term effects
Fulfilling the project objective is the foundation for continued technology and business development in Fibu, where the first production and sales will start in 2022. The project has provided the answers that the owners wanted for technical and financial feasibility. Fibu is now prepared to initiate a dialogue with financiers regarding both capital, loans and grants for investments and continued technical development. The company is also prepared to meet both national and international demand for a bio-based material that replaces plastic in internal protective packaging.
Approach and implementation
The project had 5 work packages (WP). In WP 1 we designed a pilot production facility. In WP 2 we had a dialogue with potential customers about the material´s performance and execution. A comparison with other competing bio-based materials was performed by external independent expertise. In WP3 we developed an IP strategy and secured FTO. In WP4 we developed our sales strategy, deepened our market analysis and made a detailed financial plan. AWP5 was for coordination and reporting. We also developed a website, www.fibu.se. The activities were carried out in accordance with the time plan.