Financing and Development Support for Actors in the Energy Sector

The Energimyndigheten offers a broad range of financing and development support for actors in the energy sector. The goal is to accelerate the commercialization of sustainable innovations.

By providing support in the early stages, offering verification opportunities, and facilitating pilot and demonstration projects, more companies are given the conditions to survive the “valleys of death", so that more innovations should reach the market.

Valleys of Death – Financing Challenges:

Many companies face financing obstacles during critical phases of their development. These "valleys of death" typically arise during:

Concept Development: Difficulty securing capital to develop and test a new idea.

Verification: Lack of capital to verify the solution with the market and prepare for commercialization.

Demonstration and Expansion: Challenges in securing funding to demonstrate scalability and reach international markets.

The Swedish Energy Agency offers support for sustainable business development in the energy sector.

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Today, the Swedish Energy Agency, visited Ideon Science Park to present various support programs that companies, universities, and innovation environments can apply for.

At Ideon Science Park we work to help develop innovations in the energy field. Our purpose aligns with that of the Swedish Energy Agency, which is to promote research, innovation, and commercialization of new products, processes, and services that contribute to a sustainable energy system.

Who can apply?

Small and medium-sized enterprises (SMEs): Companies with innovations in the energy sector that have the potential to grow and contribute to sustainable energy solutions.

Universities and higher education institutions: Academic actors aiming to take research from the lab to commercial applications.

Innovation environments: Incubators, science parks, and other actors working to help energy-focused companies prepare for commercialization.

What types of support are offered?

Concept Development:

Purpose: To support companies and researchers with innovative solutions in the early stages.

Goal: To develop and improve solutions to enhance their potential and commercialization capability.

Support: Projects can be granted up to SEK 500,000, with 100% of eligible costs covered.

Verification of Innovations with Customers:

Purpose: To test the functionality of innovations in real customer environments and adapt them to market needs.

Support: Projects can receive up to SEK 3 million in support, covering 45% of the costs for testing and development. Companies can also receive up to 100% support for business development, IP strategy, and innovation consulting.

Pilot and Demonstration Projects:

Purpose: To demonstrate the potential of the product or service on a large scale to reach market introduction.

Support: Minimum SEK 7 million in eligible costs.

Criteria for Eligibility

The Energimyndigheten assesses applications based on several criteria. To succeed, you need to describe:

Innovation Degree: How unique the innovation is and the competitive advantages it provides.

Business Potential: Customer benefit and the ability to create concrete business models.

Maturity Level: How far the innovation has developed and its readiness for the market.

Feasibility: The realism of the project in terms of implementation, goals, and budget.

Energy Potential: Contribution to the transition of the energy system.

Gender Equality: How well the project has considered gender perspectives in its design.

According to the Swedish Energy Agency, the most challenging part for companies is often describing the business potential and the uniqueness of their innovation. The agency also emphasizes the importance of collaboration and partnerships, encouraging cooperation between companies, investors, academia, and government agencies. Innovation environments, such as science parks and incubators, play an important role in supporting companies through business development and commercialization preparations.

Read more: https://www.energimyndigheten.se/forskning-och-innovation/sok-stod-och-redovisa/soka-stod/

Don't hesitate to reach out to Energimyndigheten who are happy to guide you.

Tips for Preparing a Strong and Well-Thought-Out Application

Increase your chances of receiving support and taking your innovation to the next level.

Tips for those looking to apply for support for innovations in the energy sector:

1. Choose the right call for proposals: Identify the funding round that best matches your project and its maturity level (concept development, customer verification, pilot, and demonstration). Ensure that your innovation falls within the appropriate Technology Readiness Level (TRL) required for the specific call. You can subscribe at the Swedish Energy Agency to see what calls are out there.
2. Clear project plan: Develop a concrete and detailed plan that outlines how you will use the support. Describe the business potential of the innovation, how it contributes to the transition to a sustainable energy system, and the project's goals and timeline. Ensure that the project's budget and execution are realistic and meet the requirements for funding.
3. Customer involvement and verification: If you are applying for customer verification, make sure you have a participating customer. The customer’s involvement provides early feedback and can demonstrate that your innovation meets real market needs.
4. Focus on sustainability: Strong projects show a clear connection to climate and energy policy goals. Show how your innovation contributes to sustainable development and can help solve challenges within the energy system.
5. Business development: Include business development efforts as part of the project, such as developing a business plan, financing strategy, and market analysis. These elements can receive up to 100% support and are crucial for scaling and commercializing the innovation.
6. Collaborate and leverage networks: Collaborate with innovation environments and advisors who can help you with everything from business development to technical advice. Also, use support services offered by the Swedish Energy Agency and Almi to improve your application.
7. Think long-term: Have a plan for the next steps after the project. Funding for concept development or verification is just the beginning—be prepared to apply for additional support for pilot and demonstration projects or even internationalization.

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