Do you want to test your business idea? Proof-of-Concept (PoC) funding for the year 2024 is now open for students
The student’s Proof-of-Concept funding aims to execute the first implementation of an invention or business idea having commercial potential. This way you can show that the invention/idea works as planned. The funding aims to increase the possibilities of creating both research- and student-based businesses.
The year 2024’s PoC funding is now open for applications, and Bachelor/Master level students can apply for up to 5000 € / application. The funding is provided by the University of Oulu and the City of Oulu. In total, there is 300 000 € of funding available, and it is meant for both students and researchers of the University of Oulu. The funding is expected to be used by the end of 2024.
PoC funding can be utilized for buying materials, services, and supplies needed, for example, in developing a prototype to prove the viability of the business idea. The student PoC cannot be utilized for salaries and will not be sent directly to the applicant’s bank account. The expenses need to be invoiced by a company, and the invoice needs to be sent to the University Innovation Centre. The funding is not company support, meaning that the funding is not available for established businesses.
If you want to hear more about the PoC funding or, for example, discuss the suitability of your business idea, please contact Ville Saarenpää: ville.saarenpaa(at)oulu.fi.