SPARK Finland has started once again the fall season and this time with 9 new SPARKees. You can find new teams – Batch Fall 2021 – at PROJECTS section. In total we have currently 40 projects in the program and close to 20 already as alumni.
In June 8th SPARK Finland International Evaluation Panel selected new patch of SPARK projects and teams to our program. Projects started their journey in 2-3 year program right now – in mid August 2021.
International panel of 24 acknowledged professionals in health tech and life sciences represented experience in international business, R&D, regulation, science, clinical expertise and financing. We are extremely thankful for all of our evaluators for their contribution to the evaluation process!
According to the evaluation panel quality level of applications was exceptionally high and diverse. The reasons for number of high quality projects is mainly based on the success of alumni SPARKees.
A pattern that also teams which have received just recently a remarkable R&D funding decision are also applying to the program – not only those without funding. We have been asking why do they apply? Reasons seem to be that our program provides multiple advantages in de-risking projects, boosting the project progress, getting professional and peer support, and in building valuable contacts around the world.
But… the good news is that while applying and meeting with our evaluation panel we don’t even ask if the project team has received funding. Our main focus is on 1) clinical unmet need, 2) novelty and competitive aspects of proposed solution, and 3) team’s aspiration and ability to take responsibility in increasing maturity of their idea towards a value creating solution.
Awareness of positive experiences and successes of the former SPARKees has increased remarkably within associated organizations. As an example, during the past year, large number of SPARK alumni raised remarkable financing packages as well as several SPARKees received large commercialization and R&D funding packages for their projects. Also support from our global pool of professionals and partner organizations became a reality for many of our teams.
Increased collaboration activity with TTOs or innovation services has also been a remarkable booster for increased awareness of our program. It has a remarkable impact on emergence of high quality projects and also the outcomes of the program. Evidence is clear; in those institutions in which TTO and innovation services are actively collaborating with SPARK, the successes seem to be most evident. That is understandable… sharing and pooling scarce resources and professional networks enables more relevant support for project teams.
Once again our new SPARKees work on new cool things… And if you want to know what is bubbling under in their projects, stay tuned!