Verification financing för startup businesses- Sahlgrenska Science Park

Purpose and goal

The purpose of the project has been to support start-up companies in Sahlgrenska Science Parks incubator operations with business-critical verification activities. The goal was initially to support 10 companies per year. During the program period, 28 companies received support for a total of 87 verification activities where a total of SEK 4,284,000 was paid out after completed activities. The fulfillment is thus close to the goal, with a slightly smaller number of companies but instead several activities per company.

Expected results and effects

Companies have been able to verify critical issues for the continued development of their business ideas. They have been able to more quickly confirm or pivot their development plans and associated business strategies. They have strengthened their opportunities for funding, laid the foundation for strategic protection of IP (patents and trademarks, "trade secrets" etc.), clarified regulatory eligibility requirements, enabled business collaborations with industrial parties etc. For some, this has contributed to the business idea being able to be rejected more quickly.

Planned approach and implementation

The incubator has, together with the companies, identified the verification needs and a suitable external contractor (consultant). Performers have since submitted a quote incl. cost. After approval, the cost has been added to the budget on Vinnova´s portal and the activity has then been carried out according to plan. The companies have since requisitioned grant amounts corresponding to consulting invoices. Overall, the process has worked smoothly for all parties and has been an important tool for faster development of the companies with better quality.