LTU Business awards space students idea development diplomas for their projects on new innovations and research results. The students have participated in LTU Business Summer, a programme aiming to give extra growth to new innovations and at the same time give university students valuable work experience and contacts. The program includes four themes, of which Space Innovation is one. LTU Business is funded by RIT2021 in partnership with Luleå University of Technology, Vinnova and Swedish Mining Innovation, and and is run by LTU Business.
75% female participants
This year, female students made up 75% of participants in Space Innovation, an increase from previous year. The increase is a success for RIT2021 and LTU Business, as one of the goals with RIT2021 is to boost equality within the space sector, which is traditionally dominated by men.
Digital for the first time
This year, the program has been hosted online due to Covid-19. The students work in teams and have a joint introductory week followed by regular meetings with a coach and a final presentation of their projects. Students are assigned a real business case to develop a solution for, including market analysis, business model and go-to-market strategy. The business cases are new innovations deriving from research teams, companies or a societal issue that the students themselves have identified.
“Experience for my future career”
The summer program has received a high volume of applications for serveral years. Students who are accepted are positive about the experience. Hanna Brink is one of the students who was admitted for summer 2020:
I have gained experience that will be useful both for my dissertation and in my future profession as a civil engineer – Hanna, student.
– I have no previous experience of idea and business development, so this was a big and interesting challenge for me. The work with my colleagues and the support from our coach Johan Bergström has developed me as a person and given me greater knowledge about taking an idea to reality. I have gained experience that will be useful both for my dissertation and in my future profession as a civil engineer.
Christopher Frisk, business developer at LTU Business, says the strength of this programme is in uniting people with different backgrounds around a specific problem. LTU Business provides the tools and a professional business developer to coach them throug their project.
– It is a kind of intensive trainee program for the students, and at the same time a pre-incubator for companies and researchers who want to take their idea forward. After only nine weeks, you have an initial business pitch and an increased understanding of the business potential of the idea, Christopher explains.
“Partners who believe in young talent and the power of innovation in the region”
The programme is possible thanks to funding from Luleå University of Technology, Vinnova, Swedish Mining Innovation and the regional development project RIT2021, explains Karoline Pettersson, program manager for LTU Business Summer.
Viktoria Mattsson, Head of Collaboration, External Financing and Innovation at Luleå University of Technology, is responsible for contributing to increased growth and development, locally, nationally and internationally.
– Luleå University of Technology sees LTU Business Summer as an important opportunity for students to establish themselves in the region during the summer holidays, at the same time as they get to try to develop an idea. It creates value both for the individual as well as for the university and the region.
– Having the support of our committed partners is a strong proof of the will and belief in the power of innovation in our region. An important bonus is that this programme creates effect and value for the region during the summer holidays when many activities slow down and students disappear to other places, Karoline concludes.
LTU Business Summer is a nine-week development program where students are given the opportunity to work as business and idea developers on real cases. This year, 20 students have worked on 10 business cases. Read more about LTU Business Summer here.