SEB and the Vega fund of the UT Idea Lab support innovative development ideas with 22,900 euros
An international jury announced the second grantees of the Vega fund financial support. Among 24 submitted project applications, five innovative development projects were supported with a total of 22,900 euros.
Kalev Kaarna, the Head of the University of Tartu Idea Lab, was happy that the ambitious teams that were supported in the first call of the Vega fund are going great according to the news about pending agreements and international partnerships. “One project, for instance, is about to enter the US market and another is launching a unique production company in Estonia. The jury believes that in nine months we will also hear good news about the five teams we selected this time,” said Kaarna.
Mart Maasik, the Head of Business Innovation at SEB, acknowledged the persistence of the teams that did not get the support in the first call. “It was good to see that several teams that were not supported last time had developed their business idea further. In case of GreenBead, the jury considered the effort worth the support.”
The second Vega fund grantees:
The biggest support, 8300 euros, went to the team of Copernicus Urban Development Analyser (CUDA). It is a global information system for monitoring urbanisation, which simplifies the work of city governments and countries’ regional planning units as well as large real estate and infrastructure companies. CUDA uses satellite images for mapping buildings and the road network and anonymous mobile positioning data for mapping population.
7400 euros went to GreenBead OÜ. With the support of the Vega fund, GreenBead OÜ and its cooperation partners (Estonian Nanotechnology Competence Centre, Protolab Tartu) will build a device for collecting superparamagnetic nanoparticles. The device can be used for collecting and processing magnetic nanoparticles used in separating biomolecules in biotechnological application.
2500 euros went to the team of Green Memory. The team is developing a new solution for computers using the Windows operating system to allow a more optimised use of the memory resource. The software solution complements the Green Wave software for optimising processor resource created by the team earlier.
2500 euros went to the project team of EstDinsar. EstDinsar wants to create an information system that is able to get data from the satellite Sentinel-1 and determine the rate of vertical movement of the ground. The data obtained by this method is accurate and up to date, allowing fast and efficient assessment of where it is safe to build and which current structures are potentially hazardous.
2200 euros went to the developers of the Students' Response System (SRS). Supported by the University of Tartu Idea Lab, the team is developing a system for collecting feedback in real time that allows giving direct public feedback on lectures and lecturers.
The Vega fund, created by SEB Bank and the University of Tartu Idea Lab, is the first funding facility for knowledge-intensive ideas. Through the fund, SEB Bank gives 150,000 euros over a period of three years to support the transfer of innovative solutions to everyday use.
Additional information: Kalev Kaarna, Head of the University of Tartu Idea Lab, tel: +372 5341 6194, email: kalev.kaarna [ät] ut.ee;
Mart Maasik, the Head of Business Innovation at SEB, tel: +372 665 5256, email: mart.maasik [ät] seb.ee.