The success of the VFT-1 funding program
VFT-1 is a funding program operated by KTH Innovation since 2012. The funding shall support and catalyze the first steps on the road to verify and develop a business concept based on research results. The funds shall mainly be used for verification of key commercial questions, which typically includes assessing market need and interest, pilot testing,prototyping, securing patents etc.
- This is a brilliant program for researcher and students who are in need of funding in the most early phases of their projects, says Daniel Carlsson, project manager for the VFT-1 program at KTH.
The goal of the program is either to take the project to commercialization or prepare the project for a more rigorous commercial and technical verification (for instance through other funding). Maximum funding is up to 300 KSEK to iteratively and stepwise verify and answer key questions along the way.
Key Indicators of success
During 2012-2013 90 KTH projects have been financed from the VFT-1 program and the results are strong so far. Some key indicators that have been addressed are as followed.
Daniel Carlsson says this are very encouraging effects that show the importance of creating networks with for example the industry, the users or investors at an early phase.
- The effects are related both to direct commercialization as a start-up, but also researchers getting more industry contacts and cooperations that can have more long-term positive effects on impact of KTH research, he says.
If you have research results where you need funding for evaluating the commercial potential, please contact us at firstname.lastname@example.org