Valorisation Grants for 21 entrepreneurial researchers
Technology Foundation STW has awarded a Valorisation Grant to 21 entrepreneurial researchers. They can use this to further develop their scientific discoveries into a commercial application. The Valorisation Grant is partly funded by the Foundation for Fundamental Research on Matter (FOM). A total of 1.575 million euros was awarded in this funding round.
Technology Foundation STW set up the Valorisation Grant in 2004 along comparable lines to the American Small Business Innovation Research (SBIR) programme. In practice it is difficult for researchers to find funding for the further development of an idea that has emerged from scientific research. They have demonstrated that the idea can work (proof-of-principle) but there is not a prototype yet. Standard research funding often provides too little space for the development and additional research that are crucial in this stage. The Valorisation Grant is intended to bridge this 'funding gap'.
The Valorisation Grant has two types of award: phase 1 and phase 2. In this round 15 of the proposals were awarded phase-1 funding (including two proposals that FOM will fund) and six were awarded phase-2 funding (one of which will be funded by FOM). An overview of the proposals awarded funding can be found in the attachment.
Phase 1 is the feasibility study. During this phase the researcher investigates the commercial and technological feasibility of the proposal. For this phase a maximum amount of 25,000 euros can be applied for top cover a maximum period of 6 months.
Phase 2 is the valorisation phase. In this phase the first steps in the valorisation procedure are made, such as developing a product portfolio, securing a 'launching customer' and holding negotiations with private financiers. The aim of this phase is to reach the point where private financiers are willing to back the rest of the commercial development. For phase 2 a maximum of 200,0000 euros can be applied for to cover a maximum period of 2 years. Phase 2 funding can only be applied for if the applicant has successfully completed the feasibility study in phase 1.
This is the fifteenth round of the Valorisation Grant Programme. Technology Foundation STW received 30 proposals for phase 1 and 25 for phase 2.
For further information about the Valorisation Grants of Technology Foundation STW please contact Dr. Wouter Segeth, telephone +31 (0)30 600 12 74. For further information about the proposals funded by FOM please contact Drs. Floor van de Pavert, telephone + 31 (0)30 600 12 22.
Further information about the Valorisation Grants can be found on the STW website.