Verification means for companies in incubators

Purpose and goal

Startups at Innovatum Startup have been able to apply for funds for verification projects directly from the incubator in order to quickly receive funding in connection with early verification of ideas with the intention of verifying and validating the business potential. Through the Verification Funds the Incubator companies have been able to verify market potential and new technical solutions earlier than they otherwise had the opportunity to. The verification funds have the companies to get answers more quickly on how to bring the idea to market.

Expected results and effects

Some good examples of what our companies have had the opportunity to achieve. Hencol AB participated in Eurotier 2018 the world´s largest agricultural fair. It led to interest from DeLaval, which became a partner and investor. Vultus AB Validation and optimization of API integrations with partners. Enabled major improvements to the software and deepened their collaboration with agricultural partners. Procada AB Kundverifiering of control systems with start / stop sequences for 3D printers in metal to secure customers for collaborative projects. The project gave good results

Planned approach and implementation

Application has been made according to the routine developed based on criteria in the call and questions in the application form. This ensured that all applications were based on the same issues and facilitated the assessment at the decision meetings in the incubator. The incubator companies reported the project´s results and effects after completion of verification project During the journey adapted our internal decision-making process from a maximum amount of SEK 50,000 per application, to be able to grant larger verification projects where we saw potential for a greater effect.