Grants for business verification 2018 Kalmar Science Park
| Reference number | |
| Coordinator | Kalmar Science Park AB |
| Funding from Vinnova | SEK 2 248 448 |
| Project duration | April 2018 - February 2021 |
| Status | Completed |
Important results from the project
The project has been implemented to support Incubator companies adopted by Kalmar Science Park Incubator in their work to verify and develop innovative business concepts with high growth potential and international scalability with an expected effect of shortening their time to "market to market". Since the start of the project, we have carried out over 60 initiatives in 30 different startups.
Expected long term effects
In all cases, we can see that the verification funds have been valuable for our companies as they speed up the process towards market establishment. Hence, they will also put them selves into a position where they become more interesting for the traditional loan market, angel capital or VC. Loan financing via ALMI and banks is still the most common option, but gratifyingly we can see that as many as 30%, or 9 of our 30 companies, have also managed to attract VC or angel capital. In our regional context that is a good outcome.
Approach and implementation
Our internal process with the verification funds has been very simple and efficient with short decision paths, a maximum of one week from proposal to decision on support. This has been appreciated by our company in incubator. The Corona pandemic has affected our companies as a number of different verification activities "on site" or "on market" have not been possible in the most desirable way.