A Project Year Comes To An End

In august last year, 35 excited entrepreneurship students moved into the incubator and began developing their innovation projects. During the first months, the students focused on verifying the market as well as determining the needs for Proof of Concept (PoC). In doing this, they where able to show both idea providers and Encubator coaches that the project had potential to become an interesting venture.

In December there was proof that the 2009/2010 projects indeed where based on really interesting business ideas as no less than 5 out of 10 business ideas rewarded at Venture Cup Väst came from Encubator projects; an acknowledgment of the high standards of the projects recruited by Encubator, as well as showing that the students are truly up for the task of idea development.

Over the year the entrepreneurs continued to develop there business plans by doing marketing research, establishing IP-strategies and establishing important business connections. One of the criteria of the project year is also to appoint a chairman as well as securing advisor to the project. It’s indeed a challenging year and the students has put in a lot of work into their projects.

Further proof of the talent and hard work of the entrepreneurial students came in the end of April this year as no less than 6 out of 13 nominated business plans in Venture Cup Regions Finals resided in the incubator at Vera Sandbergs Allé (the 2008/2009 years project, Ideelic, was also nominated at the regional finals, making it seven Encubator projects among the finalists).

The outcome in the regional finals?

First place to Tenroc Techologis and third place to BioNordum, making them both representives of Western Sweden at the national final of Venture Cup. In addition to this, BioNordum also won the first price in the Food & Health category and shared the audience prize with another Encubator project, Traccine Pharmaceuticals. In June 2010, BioNordum stepped up as one of the top three Business Plans in Sweden, as they seized the second place in the Venture Cup Nation Finals in Luleå.

All together, 11 prizes from Venture Cup was rewarded to Encubator projects this year.

As the year moved towards summer the projects proved more and more sustainable and most of them started to attract early investors. The hard work of the entrepreneurs has resulted in 12 interesting projects and has benefited the original idea providers in many ways. Some of the entrepreneurs will continue with there projects while others will move on to other challengers. All of the twelve projects will carry on and now faces the challenge of securing further founding as they leave the incubator and continue the journey towards becoming interesting ventures.

Read more about the projects below or contact us at info@encubator.com