Verification for growth
| Reference number | |
| Coordinator | Science Park Skövde AB - GSP Inkubator |
| Funding from Vinnova | SEK 5 986 000 |
| Project duration | February 2016 - February 2021 |
| Status | Completed |
Purpose and goal
The purpose of the project has been to provide funding to incubated startup companies for costs that incur during verification activities. The goal has been to contribute to a faster and more efficient incubation process for new knowledge based company with great international potential.
Expected results and effects
A total of 298 verification projects have been granted and implemented during the project period with a total budget of 7.2 MSEK, whereof Vinnova´s verification funds 6 MSEK. Projectactivites have contributed in verification of startups that hav led to added business, investments or growth through participation in expos, conferences and other investment events to reach international markets or investors, legal support to verify ownership and contract issues, marketing activities to confirm target groups and technical verification of proposed solutions.
Planned approach and implementation
Admitted companies have applied for verification projects that are linked to current progress in the incubation process, to verify hypotheses to reach added business, investment or growth in the company. The companies have been able to apply continously and evaluation of applications has taken place weekly at incubator meetings of the projects´ relevance, potential, team and feasibility before a decision of approval has been made. Short route from idea to decisions on projects have proved an excellent way to be able to quickly add and strengthen efforts in the incubation process.