Verification for growth (VFT) UU Innovation 2024

Purpose and goal:

The purpose of the project is to offer a comprehensive innovation support in the exploration of the potential of innovative ideas from students, researchers and employees at Uppsala University, and the Universities in Gävle and Dalarna. The goal is to reduce commercial risk in innovation projects as early as possible, and to as large extent as possible, through verification activities, so that customer value, potential and originality are ensured.

A particular area of focus is deeptech projects where the risks are often higher and the financing needs greater than in other areas. Expected results and effects:

We expect an increased outflow of attractive innovation projects (AIP), which are projects that have received other external financing, investment, outlicensing, own sale of product/service or other implementation of the innovative solution outside the academy. The outflow of AIP is expected to comprise both deeptech projects as well as other types of projects.

Additionally, we expect an increased influx of ideas due to the increased attractiveness in the support and the different types of harvesting activities UU Innovation pursue. Approach and implementation:

UU Innovation works purposefully towards an increased, broadened and equal inflow. Verification is done in three phases, for deeptech project as well as other types of projects - identify, evaluate and develop - where VFT funds are used in the latter two and have a completely decisive role to engage experts with subject-specific competence. The project´s potential is thus verified in a structured way and acquisition of any external capital can be made when the risks have been minimized.