Innovating the iron supplement market
| Reference number | |
| Coordinator | IRONIC AB |
| Funding from Vinnova | SEK 300 000 |
| Project duration | November 2022 - November 2023 |
| Status | Completed |
| Venture | Innovative Startups |
| Call | Innovative Impact Startups autumn 2022 |
Important results from the project
The goal of this project was to obtain support to prepare Ironic AB to be an attractive company for external investment and thus finance its product development and commercialization. Among the activities were to establish the legal strategy for IP as well as the regulatory approval in the US and Europa. The company also prepared itself regarding economic, IP and legal aspects to go through due diligence prior its pre-seed round of investment, which we hope to close in the near future.
Expected long term effects
The results obtained were: - A clear regulatory pathway for our products in the US and Europe. - A demonstration of the need of our product within the targeted consumer (women and vegetarian) - A still-growing network of potential partners and customers within the supplement and food industries. - A clear IP strategy for the current and future development of the company. We have started with the filing of two patents. - A clean and attractive investable company that has attracted the attention of reputable investors from the Nordic countries and USA.
Approach and implementation
In this project we have: - Cleared out the regulatory path in the USA (FDA) and Europe (EFSA). - Carried out a CAC analysis in the Meta environment (Facebook and Instagram) - Started a IP strategy for current and future IP portfolio. - Started a network with potential partners and customers within the supplement and food industries. - Prepared the legal, IP, and economical status of the company to go through due diligence with external investors. Thanks to this, the company is ready for external investors and we are about to close our pre-seed round of investment.