Centre for Entrepreneurship and Innovation looking back on 2023

How was 2023 for the University of Tartu's spin-offs? How did the teams that received the experimental development grant and participated in the pre-incubation programme do? The first days of January are a good time to look back on what the Centre for Entrepreneurship and Innovation was up to last year.

Experimental development grant – a gateway to the world of entrepreneurship 

For the fifth year running, academic staff at the University of Tartu were able to apply for the experimental development grant, which aims to support researchers in implementing the results of their research. To a researcher at the University of Tartu, receiving the grant is often the first step on the journey to setting up a research-intensive business. In 2023, nine projects were supported with 300,000 euros in total. The research results of the 2022 grantees were also announced.

While teams are generally expected to establish a research-intensive company after receiving the grant, the first goal is to raise the technology readiness level (TRL). The research teams that received the grant in 2022 were successful in this respect: two teams went up one level, five teams climbed two levels, four teams ascended three levels, three teams moved up four levels and one team even seven levels.

Since 2019, 56 projects have received the experimental development grant totalling 1.8 million euros.

Pre-incubation programme From Science to Business

Many of the teams that have received the experimental development grant have gone on to implement their entrepreneurial plans as part of the University of Tartu's pre-incubation programme From Science to Business.

A record 13 teams participated in the spring and autumn 2023 programme. Over the course of 10 weeks, through weekly mentoring sessions, they moved towards the establishment of a research-intensive business.  At the end of the year, the Centre for Entrepreneurship and Innovation was delighted to learn that one of the teams in the spring programme – EsaDres, a developer of wound care products – was selected as one of the top 40 start-ups to compete for prizes worth nearly half a million euros at the Startup Day in January. Among the university's start-ups, GaltTec and Vectiopep were also selected in the top 40.

2023 was a successful year for the University of Tartu's spin-offs

It is clear that 2023 was an exceptionally successful year for many of the University of Tartu's spin-offs. For example, the biotech company Icosagen Cell Factory was named both Estonian Company of the Year and Innovator of the Year.

Fundraising also proved a success. UP Catalyst, a technology developer producing graphite from CO2 emissions, raised 4 million euros to build an industrial test reactor. This will help reduce Europe's dependence on Chinese carbon materials and make UP Catalyst the world's largest producer of green graphite.

Gearbox Biosciences, on the other hand, raised nearly half a million euros to develop industrial biotechnology that enables producing proteins without the use of antibiotics. In doing so, the company helps reduce both the use of antibiotics outside medicine and the spread of bacteria that have become resistant to them.

Fuel cell developer GaltTec is the only Estonian start-up to be selected in NATO's accelerator programme DIANA, which includes access to NATO test and development centres, in addition to providing financial support and reliability.

In spite of the economic situation at the end of the year, the University of Tartu's spin-offs have been successful and the researchers' interest in entrepreneurship has not waned. We hope that the number of spin-offs and business-minded researchers at the university will increase in 2024.

The Centre for Entrepreneurship and Innovation wishes everyone a happy new year full of entrepreneurial spirit!