Global competition has never been more severe. As nations develop, new needs are formed and companies are eager to compete in order to satisfy these needs. Innovationsbron strengthens the Swedish trade and industry by identifying and developing new ideas into commercially competitive products and services.
Innovationsbron aims to create a basis for internationally competitive companies by the commercialisation of innovations, initially by providing seed funding combined with industrial business development as Innovationsbron become active owners.
Innovationsbron also provide an incubator service, supporting innovations at an early stage, granting professional help crucial to excel an innovation into a realistic and commercially feasible project. Once the new companies are equipped to meet the commercial market, Innovationsbron plays an active role in engaging subsequent investors.
Supporting new establishments and entrepreneurs
Innovationsbron invests some 100 million SEK yearly in new companies all over Sweden. The grants involve ideas emerging from academic research, individual innovators and entrepreneurs if they have an idea that is deemed commercially feasible. The funding is usually in the range of 0.5 to 2.5 million SEK.
“We have taken a large step in taking our investments further; we have made substantial investments in a broad field of innovations originating from both academia and industry. It is our mission to identify, capture and develop innovations which in turn will strengthen the national trade and industry, especially focusing on our large areas of expertise; ICT and Life Science”, states Jonas Gallon, Vice President at Innovationsbron.
National network of incubators
Innovationsbron runs a national incubator programme that enables participating incubators to strengthen the flow of business ideas into their developing environments. “We have changed our advance planning to cover all segments; welcoming ideas from existing businesses, hospitals and researchers, for example. Life Science is a large segment, but we are not tied to any specific industry, instead focusing on strong ideas regardless of the source”, Jonas Gallon explains.
Creating healthy turnover enables further investments
At the earliest stages, before an innovation is commercialised, the risk is usually so high that investors are unwilling or unable to pursue. At this stage, Innovationsbron offers a so called seed funding, complementing the market. Gallon concludes: “In future developments, we aim to create a healthy turnover, enabling us to invest in more ideas and strengthen the national network of incubators”.