New Innovation process for Swedish industry
| Reference number | |
| Coordinator | AstraZeneca AB - AstraZeneca BioVentureHub AB |
| Funding from Vinnova | SEK 1 200 000 |
| Project duration | July 2016 - March 2017 |
| Status | Completed |
Important results from the project
The overall objective of the project is to develop a novel model for innovation which builds on assets originated but not pursued by AZ. These assets would be the foundation on which new companies are started at AZ BVH but run and financed by external parties. The aim of the first part of the project was to establish a framework for the new model which would be tested in the second part of the project.
Expected long term effects
A project team was formed, an investor club/community was established and a selection of terminated AZ projects was made available for spinout. A Memorandum of Understanding describing the principles and process for spinout was developed with input from the investors. With these components in place, the project is set for testing in two pilots (Part 2) during 2017.
Approach and implementation
A project leader was assigned and a spinout team was formed A number of assets (drug compounds and tech-platforms/devices) were made available for spinout after internal discussions An investor club/community including Swedish and European investors who expressed interest for the spinout model was established A Memorandum of Understanding describing the principles and process for spinout was developed with input from investors Investors received information on available spinout assets after which partnering discussions were initiated