UBI cases attracted over 27 million in VC and 18 new jobs were created

As we enter 2018, we look back at a hectic, inspiring and successful year for the incubator-related community of life science companies in Umeå. We are experiencing a surge in incoming ideas, elevated interest from the industry and a stronger demand for the incubator facilities and labs.

2017 was the year that several of our resident startups scored awards, received great ratings, signed deals and took on new collaborations and implementation missions. In late December, the results from the past year were in:

• 24 new business ideas had been evaluated, and five made it to preincubation.
• 4 new business cases were accepted into the incubator process.
• 3200 hours of coaching and expertise advice had been delivered to 20 different cases and startups.
• 18 new job positions had been created - 12 men and 6 women joined our thriving biotech community.
• 27 million SEK in venture capital had been invested in UBI related businesses.

High success rate on applications proof of high quality cases

This spring UBI also got some international spotlight as one of Europe’s top 15 life science incubators, and UBI was once again selected for the prestigeous Excellence-proramme by Vinnova. But the best proof that our cases really do meet the highest standards, is the great success rate on applications for highly competitive external funding and attracted capital.

The fall of 2017 has seen a long row of successful applications and signed deals. Not only rewarding the growing business cases we house – but also the great scientific research teams from which many of our inhouse innovations stem.

List of great news from the fall of 2017

Below is a short list of all the great financing news from the fall 2017:

• Successful grant to Anna Linusson from Vetenskapsrådet, Proof of Concept: 1 080 000
• Successfull grant to M.L Hammarström from Vetenskapsrådet, Proof of Concept: 1 200 000
• Successfull grant to Fredrik Almqvist from Vetenskapsrådet, Proof of Concept: 1 200 000
• Venture Capital Investment in Lipum by professional financing partner: 3 000 000
• Successful Vinnova/EU-grant “SME innovative startups phase 2” to Inficure Bio: 900 000
• Successful Vinnova/EU-grant “SME instruments phase 1” to Inficure: 500 000
• Venture Capital Investment in Inficure Bio by Nordic Light Capital and Partnerinvest: 4 500 000
• Successful Vinnova/EU-grant” SME instruments phase 1” to Hiloprobe: 500 000
• Accepted grant from Novo Seeds to Maréne Landströms case: 500 000
• Successful Cancerfonden-grant to Maréne Landström: 4 500 000

This mixture of research grants, venture capital and seed funding shows the great potential in our growing cluster. Only the funding from this fall, listed above, sums up to almost 18 million SEK in new external funding supporting the growth of life science in Umeå.

In 2018 we will make sure these investments keep multiplying in value – and eventually create patient benefit, improved health care and innovations for a healthier society.