The Swedish Energy Agency has unveiled plans to invest $1.2 million (SEK 10 million) into cooperation agreements with innovation centers in the first year of a pilot initiative that aims to accelerate the commercialization of innovative energy technologies.
According to the agency, the funding will be shared through eight cooperation agreements already in place with various business incubators and innovation centers in Sweden, including Blekinge Business Incubator, Uppsala Innovation Centre, KTH Innovation, and Science Park Mjärdevi, amongst others.
The agreements are part of the Swedish Energy Agency’s move to transform the energy system by taking advantage of the ongoing innovation in power sector in Sweden, and through offering support for the innovation companies to commercialize their energy novelties.
The focus of the initiative is to increase the commercialization of research related to energy, increase capital and business development in companies, and produce competitive new solutions that contribute to energy and climate policy goals.
Starting with the one-year pilot phase, the project could be extended for additional two years, according to the Swedish Energy Agency.