A kickstart to the semester
Meet the Svala team, Venture Creation Track
"Hi! How many times have you started the semester by pitching for investments and incorporating your co-founded startup? For us at Svala Technologies this was a different start than what we are used to. No introduction lectures and theory, but actual hands-on entrepreneurship! Well, at least not as many introduction lectures as usual…
So, what is it that we do at Svala Technologies, and why the rush to incorporate?
We are developing the next generation tool for analyzing how molecular structures behave in the development of complex liquids and materials. This could be for example batteries, specialty chemicals, or pharmaceuticals. The method and algorithms behind our innovation are novel enough to be patentable. To get a competitive advantage, we decided together with our idea partners to apply for a patent and incorporate as soon as possible. It has been very educational and rewarding to apply the knowledge we gained during the first year and get the opportunity to work with our venture.
Our project is quite technical, and it is a fun challenge to dive into a new technology field and investigate which problems to solve and which market to target. At the stage we are currently at we do a lot of customer development by interviewing potential customers to verify our business assumptions and tweak our MVP (Minimum Viable Product). In addition, we have school assignments that will support the venture. The three modules ‘Entrepreneurial Strategy & Sales Execution’, ‘Technology and Product Development’, and ‘Entrepreneurial Mindset & Teamwork’ are all formed to be as valuable as possible for the venture. It is a great opportunity to get feedback from experienced entrepreneurs on specific venture related tasks.
To sum up, we are excited about our kickstart to the semester and are looking forward to the rest of the year and where this project will take us."