The deep tech company Original Creation, which develops a traceability system for manufacturing industries, receives just over SEK 1 million from Vinnova to quickly move forward with its digital platform.
- "This is a fantastic confirmation that our innovation is needed and in demand," says Linnea Brännström, CEO and founder.
The Vinnova support is aimed at "an innovation-driven Swedish startup company that bases its business on a groundbreaking and emerging solution, a so-called deeptech company", and will be used to validate both technical and commercial opportunities. The support in the first phase is SEK 1 023 653.
- With the Vinnova grant, we can accelerate the development and verify our solution in a relevant environment. We want to get out on site visits and work together with the industries to get input and develop our platform as well as possible.
The basis of Original Creation's traceability system is a digital certificate of authenticity, which can be linked to a product or raw material and follow through the entire value chain. The proofs are based on blockchain technology, and around them, Original Creations is developing an entire system that will simplify traceability and ultimately contribute to more circular resource utilization and more sustainable consumption.
- "It is deeply rooted in me, who grew up on a farm in Västerbotten where we really made sure to use the resources we had in the first place," says Linnea Brännström, who has experience from both the technology and finance industry.
Original Creations' business concept meets several customer needs. Firstly, the EU's legislation on digital product passports, which will be presented in 2024 and place completely new demands on manufacturing companies. Secondly, the need to combat piracy, which affects more industries than you might think. And last but not least, Original Creation's system will be able to deliver finished data for customers' sustainability reporting, something that otherwise takes up a lot of resources.
- "You can meet the legal requirement, you get a certificate of authenticity for your product, and you don't have to bring in sustainability consultants to do a life cycle analysis," Linnea Brännström summarizes.
The company is currently part of BizMaker's business development program Forest Business Accelerator, where Linnea, together with RISE Processum, SCA and IBM, among others, is looking at opportunities to test and verify its technology together with companies in the forest industry.
- "The forest industry is here, and it is well suited to us. It is relatively easy to log the products through the entire value chain, compared to if we were to start in the automotive industry, for example, where there are an incredible number of components and subcontractors.
The Vinnova project will be financed in four phases, with up to about SEK 1 million per round. After each phase, a new application is made. The goal is now to use this money and business development support from the Forest Business Accelerator to develop a first working product in the first half of 2024, and make the company ready to raise more capital.
- We are in dialogue with several investors, and would like to meet more. And not least, we want contact with interested companies in the manufacturing industry," concludes Linnea Brännström.
Contact
Linnea Brännström, CEO and founder Original Creation
070-605 75 62, linnea.brannstrom@originalcreation.se
