Verification for small businesses - Sahlgrenska Science Park

Purpose and goal

The project has been a co-ordinated project initiated and operated through Swelife, with the aim of providing Sahlgrenska Science Park, as Regional Node for Swelife, with verification funding for Small and Medium-sized Enterprises (SMEs). In total, Sahlgrenska Science Park had a budget of SEK 2,243,000 and an objective to verify customer needs and business potential in about 25 projects from SMEs for two years. The outcome was that a total of 26 SMEs have received funds that could be used to verify different aspects with external expertise and thus the target can be considered to be met.

Expected results and effects

In the short term, verification funding has enabled 26 SME companies to verify critical issues for continued development of business ideas. Although in the short term it is difficult to quantify the effects of this (have not been requested and followed up in a structured manner), there are several examples where the companies received 1) additional funding (grants or equity), 2) new partners (for continued development or licensing/buy-out) or accelerated the opportunity to on its own faster reach a 1st market.

Planned approach and implementation

Initial development of coordinated processes and procedures. Step-by-step description of verification projects in companies. - 1st contact incubator and company for project review and analysis of needs. - Compile written project description incl. verification activity, expected outcome, external consultant, estimated cost. - Matching external conultant, define assignment in quotation. - OK from incubator. Projects are posted on portal, OK from Vinnova. - Implementation - Exit. Allocated funds paid to companies against displayed underlying assignments completed.