Proof of Concept -funding opens in January

PoC (Proof-of-Concept) funding is intended for prototyping and testing an invention or idea with commercial potential. It helps demonstrate that the concept works as intended. Ideally, the concept can later be commercialized, for example, as a new startup or by licensing it to an existing company.

The purpose of the funding is to improve the conditions for new student-driven innovative companies, and it is provided by the University of Oulu together with the City of Oulu.

Who can apply:

• A degree student of the University of Oulu. After graduation, a PoC project is no longer possible.
• The team may also include individuals outside the University of Oulu.

Funding criteria:

• The idea is novel.
• The product or service being developed must have business potential.
• It is an advantage if the team has diverse expertise.

What the funding cannot be used for:

• Financing an already established company.
• Salaries of the team.
• Travel expenses.
• Equipment, such as computers or phones.
• Military/dual-use technologies.

Instructions for using the funding:

• The funding is not paid directly to the student. The services and materials will be invoiced through the Innovation Center.
• Purchases must be made from companies (not individuals). The applicant is responsible for finding suitable companies and requesting quotes.

Further information (Will be updated soon)

Got questions? Feel free to send a message to Innovation Centre's Ville: ville.saarenpaa(a)oulu.fi