Phase:

Verify 03

1–2 years

If you reach the verification phases you are officially a UBI-case with budget, financing and milestones. In this step, the main focus is to produce and document solid data showing that your idea is scalable and will be of interest to future clients. Your case’s activity plan that is financed according to the needs of your project.

Early in this stage, most of our cases are conducting experiments and market research. Your case has a clear stop and go criteria. Your mission here is to build a strong project that can attract seed funding from external sources.

In late Verify you have advanced past in-house funding and secured grants from stakeholders like Vinnova, Swelife, Novo Seeds or similar. By now you are most likely investigating future markets, adjusting your product, evaluating financing options, calculating production and scaleup costs, searching for potential partners.

If you are not yet a company – it may be the right time to register a company to protect your IP.

 

Link to our education platform for the accepted incubator cases at Umeå Biotech Incubator.

Current UBI cases in this phase