Företagsinkubator is a way of supporting new products and companies

Peter Evertsson
Företagsinkubator/Teknikdalen Foundation

Sweden invests more money in research and development than any other country in the world in relation to the gross national product. But in terms of the number of newly established high-tech companies, Sweden is in the seventeenth place in Europe. To do something concrete about this, Vinnova makes substantial financial investments through Innovationsbron (Innovation Bridge) in twelve innovative environments in Sweden. In 2004, investments were made in a further six creative environments that were awarded SEK 900 000 over three years to learn from the first group of twelve. For 2007, three of them received further financing, and Företagsinkubator/Teknikdalen Foundation was one of these.

Facilitates start-up and growth
Företagsinkubator participates intensively in the search for good business ideas and innovations with commercial potential. We want to facilitate the start-up and growth of knowledge-intensive companies. Simply expressed, we serve as a hotbed for small companies that want to become really big. By determined work in stages, we can support and facilitate the growth a business idea into a serious business venture. We prepare the one who considers a future as an entrepreneur to develop his ability to run a company, and we participate in the process and contribute coaching, networks, customer contacts and advisors/contact links for external financing. Our three steps are established, and if you have a unique business idea, firm determination and dare to be first, this is the right way to go. Every step gives you a firm foothold before you take the next.

Three steps
The Företagsinkubator programme consists of several steps. Do you have a business idea you want to present or need to have processed? We can begin by looking at the strengths and weaknesses of the business idea right from the first contact. In the preparatory phase – the Business School – you will be given general information in seminar form on the fundamentals of business. The participants can also receive individual support and advice.

To take stage two into the Business Lab, we must have faith in the team - in the people behind the business idea - and see what growth ambitions they have. This now deals specifically with your business idea, with drawing up a business plan, making market surveys, etc. This stage is open to all types of business ideas. All participants have access to a business coach for two hours a week. After about six months, all prospective companies present their business plans to a carefully selected reference group.

In the next stage – the Business Accelerator - we make much stricter demands. To be accepted requires a verbal presentation of the business plan to the Board of Företagsinkubator. The company idea must now be an innovative service or product based on high technology and/or knowledge content. There must also be a clear determination to grow, both nationally and internationally.

The company must obviously have a competent and energetic management. The company is registered, and the business idea is developed, financed and commercialized over a period of one to two years. Everyone has access to a business coach for between four and eight hours a week. After around six months, all prospective companies present their business plans to the Board that decides whether or not to grant a further six-month period.

We contribute knowledge and contacts, and we assist in drawing up a plan of action that is also regularly followed up. If necessary, other experts, such as a contract lawyer, patents expert or marketing expert, can also be engaged. If parts of the concept can be protected by patents, financing in the form of risk capital may be arranged. Participating companies are also given good opportunities to present themselves to various financiers and receive feedback from them.

Both in the Business Lab and in the Business Accelerator, you have access to premises in Teknikdalen or at the Dal Regiment premises in Falun, although you can also decide to run the company elsewhere.

Företagsinkubator operates in a creative environment
Företagsinkubator in the Teknikdalen Foundation has already gained something of a stamp of quality. We operate in a creative environment, with an increasingly favourable innovation climate. In some ways, our way of working may appear to be un-Swedish, since we provide a great deal of resources to a few individuals. But I am convinced that this is needed.

It costs a small fortune to launch a new product on the market. Here in the Bergslagen region, we have fertile ground – an environment that is perfect for innovative steel products. I am optimistic. There are many good ideas here and many others are clearly about to emerge. We are definitely going in the right direction – the young generation has a different attitude, appears to have a clearer entrepreneurial spirit and a firmer will to set up their own businesses.