EIF makes a cornerstone investment in a Swedish technology transfer fund

The European Investment Fund announces a cornerstone investment in Chalmers Innovation Fund, a fund partnering with the Chalmers University and its incubator Chalmers Innovation.

First closing was completed at SEK 110m (approx EUR 12m) with a final target at SEK 250m (approx EUR 27m).

The fund is a technology transfer vehicle partnering with the Chalmers Innovation, in Göteborg, Sweden. This innovative financing vehicle will invest mainly in technology companies for which Chalmers Innovation acts as the business incubator. These companies are often created with technology developed at Chalmers University of Technology.

Since its establishment, Chalmers Innovation has developed over 75 technology based ventures.

EIF's investment will enable the creation of a leading technology transfer operation delivering significant results in terms of new company formation, but also further development of technology. This investment allows EIF to address an unmet need in the field of commercialisation of intellectual property from universities.

This investment was made under the European Commission Competitiveness and Innovation Framework Programme (CIP-GIF1). GIF1 aims to help businesses with their establishment or early stages of development.