Opportunity for funding - searching for two more Health PoC projects

In the HealthTech Proof of Concept funding there are still opportunities for two PoC-projects. For these last projects we are looking especially for ideas rising directly from clinical need, and with potential for short to mid-term commercialization. 

Innovation Process in HealthTech Ecosystem -project (funded by European Regional Development Fund, coordinated by Centre for Health and Technology) is distributing altogether 180 000 € as Proof-of-Concept funding for University of Oulu’s researchers. 

Project’s objectives are to ensure research projects’ practical need in clinical settings and their commercial potential, and to accelerate commercialization of health technology products and solutions by developing a cooperation model for university’s, university hospital’s and companies’ research, development and innovation work. The PoC funding is part of this work.

Application period until 9.11.2016

What we offer?

The objective of the HealthTech PoC funding is to create well-defined, research based business opportunities arising from the clinical need, which can generate possibilities for applying external research funding (e.g. Tekes Tutli) or create basis for formation of a startup or licensing for existing company. 

PoC-funding can be granted for 2 more projects for one researcher’s salary costs per each and up to 6 months’ time. Funding is to be used for execution of the first prototype of the idea and the Proof-of-Concept study. Additionally, minor material costs (max. 900€ per project) can be applied for.

In addition to funding, we offer support for IPR, patentability and market analysis studies, further funding applications, and commercialization. Network and support of business professionals, health tech companies and contacts to university hospital and OuluHealth Labs are available for admitted PoC-projects.

What we are looking for?

We are looking for PoC-projects that meet this criteria:

  • Practical need in clinical setting is essential, and the most important ground for funding decision. This should be demonstrated reliably in the application
  • The proposed approach must be doable utilizing a research competence created at the University of Oulu research work. 
  • The product/service produced has potential market opportunity, and possibilities for commercialization also in shorter term. 
  • The idea is innovative and own intellectual property rights can be obtained.

In addition, the PoC-idea needs to meet the administrative terms of the project. Ideas that are product development work directly to a specific company can not be funded. 

The Proof-of-Concept funding is part of the collaboration model development work. The funded PoC-projects are expected to participate in this development work by regularly communicating and meeting with project management, actively taking part in commercialization or business collaboration planning, and presenting their idea or PoC-work in events organized by the Innovation Process project. Also the applicants commit to reporting the costs and contents of their Proof-of-Concept work by applying for this funding.

How to apply

You can apply for Proof-of-Concept funding with a specific Application Form for HealthTech Proof of Concept Funding, which has to be sent to kirjaamo(at)oulu.fi by 9.11.2016. There are no restrictions on who can apply for the funding, but note the criteria and that the funding has to be used for the salary costs of one researcher at University of Oulu. Applications are reviewed based on the criteria described above, with most emphasis on the clinical need. The funding decisions are made by vice rector Matti Sarén based on project teams and business experts’ proposal. Decisions are made in November, and funded projects can start their work in December. The funding needs to be used by the end of May 2017. To guarantee an impartial and effective evaluation process, applications lodged after the deadline will not be included in the joint evaluation process and will not be granted funding.

From granted funding the name of applicant and an executive summary (non-confidential) of proposal can be published in the University’s intranet (Notio), hospitals intranet and in project communication, or in other relevant media, and used publicly as case example in development of cooperation model.

Funding is used by addressing working hours to project via SoleTM. Possible purchases are coordinated by CHT. 

IPR’s are handled according to a law of inventions in higher education institutes (e.g. University) and the University’s innovation policy accepted by the board of University of Oulu. Necessary IPR contracts between partners are developed during project.

Further information:
Project Coordinator Veera Virta, veera.virta(at)oulu.fi, tel. 050 340 9870

Last updated: 2.11.2016