KIC creates start-up to assist new firms
A Knowledge and Innovation Community (KIC) has helped develop a new company to assist new start-ups firms.
KIC InnoEnergy Sweden assisted in the creation of Sustainable Energy Business Angels that will evaluate approximately 70 companies each year. Sustainable Energy Business Angels will then invest in up to three firms.
The firm’s director of business creation, Ingvar Eriksson, says creating private financing opportunities for companies is important for their future development.
It’s understood that many of the companies set to benefit are too young for private investment. By benefitting from KIC InnoEnergy investment, the companies will then have the opportunity to grow and develop in the ‘highway incubator’.
So far, InnoEnergy Sweden has 11 ‘business angels’ and there are plans to expand this by four more.
The first investments are expected to take place in 2014.
