Tamer Abu-Alam (UiT), Olga Voropai (KAU), Angel Marinov (TUV), Rory Taylor (GFO)
Executive Summary
This exclusive summary presents the findings of three feasibility studies developed under the SEEDplus project, which aims to establish a sustainable seed funding mechanism to strengthen university-based innovation in Europe. The studies target three countries—Norway, Bulgaria, and Ukraine—each representing distinct innovation environments, yet collectively facing the common challenge of insufficient early-stage capital for entrepreneurship linked to higher education institutions (HEIs).
The primary goal of the studies is to address the persistent gap between academic knowledge generation and its transformation into real-world innovation. In emerging and moderate innovation regions, HEIs frequently lack access to tailored financial instruments, experienced venture support, and mechanisms for fostering entrepreneurial mindsets. The study seeks to design a replicable and context-sensitive model for seed funding that can help empower university ecosystems and catalyze innovation aligned with the EU’s sustainability and digitalization agendas.
To achieve this, the studies employed a mixed-methods approach, combining stakeholder interviews, institutional readiness assessments, desk research, and SWOT analyses. Three universities in Norway, Bulgaria, and Ukraine were selected as case studies to ensure diverse and representative perspectives. While deeply rooted in local realities, the findings of the studies are applicable and scalable to other European HEIs and regions facing similar constraints.
In Norway, the study reveals a highly structured innovation system with significant public support. However, it highlights the absence of dedicated seed-stage financing at the university level. Universities have shown readiness to explore micro-funding schemes, yet collaborations with private investors remain limited. The recommendation focuses on building pre-seed funding tools within university frameworks and enhancing public-private cooperation.
In Bulgaria, innovation resources are available but scattered. There is minimal experience among HEIs in fund design or management, and entrepreneurship is only beginning to emerge as a student priority. Still, the momentum exists. The study proposes the establishment of hybrid financial instruments that combine EU funds, philanthropic contributions, and local stakeholder support.
Ukraine presents a complex but promising landscape. Despite political and economic instability, the entrepreneurial ecosystem is dynamic. The study identifies a lack of regulatory frameworks and institutional investment culture within HEIs. Nonetheless, there is strong community engagement and openness to international collaboration. Recommendations include capacity-building partnerships and alignment with development agencies to enable donor-backed seed investments.
From these localized studies, a unified model is proposed: a blended funding approach that integrates university budgets, EU structural funds, philanthropic contributions, and private investment. The model emphasizes flexibility, risk-sharing, and mission-driven governance structures. Implementation begins with pilot initiatives embedded within university innovation offices and gradually scales toward formalized cross-border funding frameworks.
This study and the SEEDplus project are part of CloudEARTHi initiative (a pan-European initiative that aims to strengthen the European innovation ecosystem with a focus on Deep Tech and circular solutions). A core outcome of this study is the proposal to establish the CloudEARTHi Seed Fund—a strategic financial instrument designed to support startups and spin-offs across the CloudEARTHi network. While grounded in the findings from three countries, the Fund will be implemented at the broader European level, leveraging the reach of CloudEARTHi’s 31 partners across 17 countries. This fund will directly support deep tech and circular innovation initiatives, acting as a bridge between research and entrepreneurship.
Ultimately, this study is not a static blueprint but a strategic roadmap that CloudEARTHi is committed to implementing. By engaging investors, stakeholders, and policymakers, CloudEARTHi will lead the next steps in translating the feasibility study into institutional practice and funding reality. The goal is not only to foster innovation at the partner universities but to reshape Europe’s regional innovation landscape, making it more inclusive, resilient, and globally competitive.