VFT1 Initial commercial verification at Karolinska Institutet
| Reference number | |
| Coordinator | Karolinska Institutet Innovations AB |
| Funding from Vinnova | SEK 2 700 000 |
| Project duration | January 2014 - December 2014 |
| Status | Completed |
Purpose and goal
The purpose of the VFT1 program is to commercially and technically verify and validate research-based business concepts and determine the most appropriate strategy for further commercialization. We ensure that business skills are linked to projects early on through our work with external consultants. We aim to decrease the cost per project by performing the VFT1-activities in sequence and to start with the activity that is considered most critical.
Results and expected effects
During 2014, we have handled a total number of 37 projects within the VFT1 program. Several of the projects have been exposed to external partners in order to find continued funding and cooperation for further development of the projects. A summary of the attracted external financing over the years 2012-2014 shows that the funding to the projects has increased substantially, something that clearly indicates that the VFT-financed activities creates value and make the projects more attractive.
Approach and implementation
The VFT1 process is well integrated into our daily activities and we have processes and documents in place that secure well-founded decisions and appropriate follow-up of activities and projects. We have specific documents to compile background material for the decision and for progress follow up, new and updated contracts solutions with respect to both the relationship with researchers and consultants, a structured database of available and appropriate experts, as well as a good working network exchanges with other universities.