Call for Proof-of-Concept (PoC) funding for undergraduate students
The funding aims to create well-defined basis for formation of a startup company or licensing to a commercial firm. However, a representative of a company cannot apply for the grant.
The call is open immediately and will last until allocated sum has been used. The grant is gratuitous.
An amount of PoC funding per idea will be max 5 000 €. Accepted costs are purchased materials and services (salaries and travel costs are not accepted) that are purchased from companies (not from private persons). The granted funding needs to be used by the end of November 2022.
Criteria for PoC funding
• A market opportunity of a product / a service has been defined.
• The idea is novel.
• It is an advantage if implementation utilizes a multidisciplinary team.
• The applicant must be an undergraduate student at the University of Oulu.
• Students of granted PoC projects are required to
o provide detailed budget of project
o attend to business coaching, events or trainings coordinated by University Innovation Centre
o report from the results.
Applying for PoC funding
The funding is applied with a specific “Application for Proof of Concept (PoC) funding for Students” form. Send the filled form by email to the Registry Office of University of Oulu (email@example.com).
A decision of the PoC funding will be made by the Vice-Rector, Co-operation of University of Oulu within a month from submitting the application. From the granted funding the name of applicant and an executive summary (non-confidential) of proposal will be published in the University’s intranet.
Instructions for use of funding
The grant will not be paid directly to students. University Innovation Centre approves all the purchases and will pay the invoices. All items purchased will be owned by the University of Oulu. The applicant is responsible for finding the needed service providers.
Intellectual Property Rights are handled according to laws of Finland.
University Innovation Centre is responsible for evaluation of PoC applications and preparing a proposal for a decision.