With the aim to bridge the funding gap between academic research and innovation and commercialization in Life Sciences, Sweden-headed Knut and Alice Wallenberg Foundation (KAW) and SciLifeLab are launching a new Proof of Concept grant in Life Sciences. This grant gives researchers the opportunity to develop their early-stage discoveries toward validated methods, products, or processes.
The ambition of the new grant program is to facilitate innovation and value for society that arises from excellent academic research.
Knut and Alice Wallenberg Foundation is a globally important funder of basic research, and we would like to see more of the research that we finance develop into innovations. That’s why we support this initiative, said Göran Sandberg, Executive Director, Knut and Alice Wallenberg Foundation.
The scope of the grant encompasses the broad spectrum of areas within life science, including but not limited to therapeutics, medical technology, diagnostics, research tools, e-health, and industrial biotechnology.
It also welcomes innovations in environmental science, agriculture, bioenergy, and sustainability.
The new support provided by Knut and Alice Wallenberg Foundation to this initiative is very welcome and much-needed for life science in Sweden. We also hope that SciLifeLab infrastructure and data capabilities can help in the challenge to translate research discoveries. I firmly believe that it will profoundly impact the landscape for innovative researchers, inspiring them to seize the opportunity to leverage their discoveries, said Olli Kallioniemi, Director SciLifeLab.
The role of SciLifeLab is to set up a panel of experts to evaluate the scientific base and potential of these grants, while KAW will coach the researchers through their innovation vehicle Wallenberg Launchpad (WALP), and make final decisions on the individual grants.
To secure a successful application, researchers must focus on presenting a comprehensive plan to verify the usability and suitability of their novel methods, products, or processes derived from research.
I encourage eligible life science researchers with ideas or disruptive innovations with commercial potential to seize this opportunity and apply. Each selected project will receive funding in the range of SEK 1 to 4 million (≈ EUR 85 600 – 342 400), allowing for a project period of up to two years, said Elin Almstedt, WALP Life Science Lead, Knut and Alice Wallenberg Foundation.
Facts
About Knut and Alice Wallenberg Foundation
The Chairman of Stockholms Enskilda Bank, K. A. Wallenberg, and his wife Alice, founded Knut and Alice Wallenberg Foundation (KAW) in 1917 with an initial endowment consisting of shares in SEB and Investor worth SEK 20 million. The value is equivalent to SEK 746 million (≈ EUR 63.9 million) in today’s value.
Even though the Foundation has since 1917 awarded over SEK 35 billion (≈EUR 3 billion) in grants, the assets have grown to SEK 183 billion (≈ EUR 15.6 billion), thanks to active, long-term investments.
In 2022 Knut and Alice Wallenberg Foundation awarded grants totaling almost SEK 2.2 billion (≈ EUR 188.5 million), making the Foundation one of the largest private funders of scientific research in Europe.
