TTU Prototron round supports the creation of inventions
Six applications based on the intellectual property of TTU were submitted for the TTU Prototron round. Most of them focused on developing prototypes in the field of energetics and material technology.
The Vice Rector for Innovation and Business Affairs at TTU, Mrs Tea Varrak, created a parallel with the recently held Opinion Festival where a few discussions focused on using the inventions of scientists and commercializing them. “The TTU intellectual property round of Prototron, that we started three years ago, gets a certain amount of applications each year and by now we can talk about the first success stories,” told Varrak. “Thanks to the cooperation agreement signed with The Harry and Reba Huge Foundation the amount of the financial support is almost twice as much as last year and therefore there is a possibility to support several potential projects.”
TTU Prototron round closed on August 15 and all the submitted applications had to be based on the intellectual property of TTU in the field of material- or biotechnology, chemistry or mechatronics. Altogether six research groups submitted their application, in the amount of nearly 250 000 euros. This year nearly 100 000 euros will be awarded as support of which 45 000 euros will come from the Harry and Reba Huge Foundation. The decision about granting support shall be made by October 6 at the latest.
The applications will be evaluated by The Experts’ Committee of NGO Prototron, the members of which are Priit Alamäe (Nortal), Jaak Raie (Tehnopol), Heiki Raadik (Swedbank), Jaanus Tamm (Defendec), Margus Uudam (EstVCA), Yrjö Ojasaar (Solon Partners) ja Madis Raukas (TTU). Best research groups will get entrepreneurial support from the mentors at Tallinn Science Park Tehnopol’s Startup Incubator.
„Universities carry an important role in developing technology. The inventions of the scientists from TTU help influence the use of technology in general,“ said the manager of the Prototron fund Jana Palvenkova. She told that it may have been difficult to imagine research groups bringing futuristic science into everyday life five years ago, but by today the scientists themselves believe in the benefits of their inventions and are more interested in introducing their work outside of the laboratories. „The format of the Prototron fund helps to connect the science world with the business world which is also one of the main aims of the fund, “ marked Pavlenkova.
Prototron is the first start-up prototyping fund in Europe which was founded by Swedbank, TTU and Tallinn Science Park Technopol. They provide equity free funding to start-ups for building their IoT prototype.
The Harry and Reba Huge Foundation is a non-profit providing scholarships and opportunities for student scholars with the drive and potential to be leaders. Through international student and professional exchange and development programs, students, donors, and teachers are given the chance to expand their view and excel. The sponsorship agreement was signed on August 4 at TTU Mektory.