Proof of Concept Grant Fund (PoC)

The Proof of Concept Grant Fund (PoC) is a good example for a programme that matches both strategic goals of BICRO. Looking at benefits to beneficiaries, PoC is definitely a new funding instrument designed to support researchers from Croatian universities and research institutes, as well as small entrepreneurs to help them to turn their ideas into a global business. On the other hand, the development and strengthening of business, scientific and technology infrastructure has been initiated through the implementation process of the PoC. The Technology Transfer Offices of the Universities of Split and Zagreb and four TEHCRO centres in Varaždin, Rijeka, Osijek and Cakovec were involved in this process as “recognized centres”. The network of recognized centres administers the Fund and helps with project preparation and monitoring.

To be investor-ready

PoC is a new program designed and implemented by BICRO with the purpose to help SMEs and scientists to bridge the gap between their ideas or scientific results of commercial potential. Thus, a “Proof of Concept” is needed to demonstrate that a new process or technique is feasible and can potentially be used for commercial application. For a new business seeking investments, a successful PoC will give potential investors the assurance of technical viability or visualisation of a prototype or scale-up process that will help a company to attract customers and investors. The PoC enables the beneficiaries to undergo comprehensive commercial and technical verification and validation of research results with commercial potential, in order to reduce technical and commercial risks, identify the most appropriate commercialisation strategy and protect the invention in the ongoing commercialisation process. It also includes activities such as building a prototype, scale-up, patent application and technical feasibility demonstration. 

Three calls for project proposals – 364 outline applications 

Since BICRO launched the PoC programme in May 2010, three calls for proposals were published. The response was very positive; requested funding in each call exceeded the available budget of BICRO. Grants between EUR 5,000.– and EUR 50,000.– are available, with applicants expected to provide matching funding amounting to 25% of the total funding.  

Besides, 27 projects have been successfully finished and resulted in six patent applications, one patent protection, 17 basic prototypes and five technical feasibility demonstrations. Also, cooperation between the R&D sector and private companies has been achieved. 

Priority sectors

There are several priority sectors for PoC financing, but the largest number of funded projects comes from the ICT sector:

• Digital technologies, ICT (22 projects)
• Health technologies (10 projects)
• Food and agricultural technology (8 projects)
• Energy (15 projects)
• Electronics, advanced materials (14 projects)
• Other (3 projects).

The positive response to the PoC program and its results that are already visible motivated us to further innovate and to bring our clients the needed and appropriate supportive measures to support the process of turning innovative ideas and research results into profitable business.