How SME Innovation Vouchers are driving innovation for startups and scale-ups
For many startups and scale-ups, transitioning from lab-scale innovations to market-ready products can be difficult, especially when costly, advanced facilities and resources are essential for progress. The Foodvalley SME Innovation Voucher programme, designed to support these companies with subsidies for specialized facilities, has proven invaluable in bridging this gap, as demonstrated by companies like Alver, Time Travelling Milkman and Cano-Ela. This subsidy was made possible by the Regiodeal Foodvalley.
Discover how the program has significantly impacted these companies’ innovation journeys, from expanding their research capabilities to accelerating their market reach.
Access to unaffordable facilities and expertise
Accessing cutting-edge research and development facilities can be out of reach for most startups due to the costs involved. The SME Innovation Voucher provided companies with access to high-end resources that were previously inaccessible. Alver, for instance, used the voucher to fund crucial partnerships with two companies, enabling them to scale its technology from a lab proof of concept (Technology Readiness Level 5) to near-market readiness (TRL-8). “The SME Voucher allowed us to complete the innovation project, turning lab-scale successes into operational reality,” shared Houman Soleimani, COO of Alver, highlighting the program’s role in this critical transition.
Similarly, Time Travelling Milkman leveraged the voucher to work with NIZO, a renowned research institute, to conduct high-level research on flavour optimization that otherwise would have been prohibitively expensive. “This type of research requires state-of-the-art equipment that we can’t afford for extended use,” Dimitris Karefyllakis, Co-founder and CEO explained, noting that the voucher made accessing these resources feasible and faster. The availability of high-quality facilities allowed Time Traveling Milkman to shorten their R&D timeline significantly, translating laboratory findings into upscaled trials within six months.
Cano-Ela agrees with this sentiment, describing the partnership with NIZO as very valuable. “Collaborating with NIZO meant access to a great pool of experts and facilities, but they can be quite costly, especially for startups,” said Juliana Romero, Co-founder and CEO, emphasizing that the SME Innovation Voucher allowed them to run pilot and demo-scale tests without taking on excessive financial risk.
R&D acceleration
The ability to quickly access advanced facilities and apply findings in real time played a major role in fast-tracking the innovation projects. Time Travelling Milkman saw a substantial acceleration in its R&D process. “We got access to equipment in a matter of weeks, which translated into rapid progress in upscaling,” shared Karefyllakis. They identified compounds in their material affecting taste and smell, targeting undesirable ones for reduction, and shortlisted scalable methods for implementation at industrial scale.
For Alver, the impact was equally profound, as the voucher helped bridge the gap between small lab-scale success and large-scale application in the food ingredients market. This allowed them to develop a new, functional food ingredient—a product only made possible through the rapid scale-up that the voucher enabled.
Risk mitigation
The voucher not only opened doors to resources but also reduced the financial burden associated with scaling up. Cano-Ela noted that upscaling production can carry significant risks, especially with complex ingredient specifications. By collaborating with NIZO through the voucher program, they could conduct demo-scale production at precise specifications without bearing full financial risk. “The voucher was fundamental to reducing the cost and risk of upscaling,” said Romero, underscoring the program’s value in enabling startups to test and refine their processes at scale without compromising their budgets.
Long-term business success
The SME Innovation Voucher has proven to be much more than a one-time subsidy; it has acted as a catalyst for long-term business success. Time Travelling Milkman emphasized that the voucher didn’t just help with a single project but provided resources that would benefit the company in the long term. “This voucher enabled us to save time and stay laser-focused on something truly useful that we can use throughout the lifespan of our business,” says Karefyllakis, rating the impact of the voucher as “9 out of 10.”
Positive Experiences and Future Recommendations
When asked if they would recommend the SME Innovation Voucher to other companies, all three businesses gave a resounding “yes.” Alver has already referred several other companies, noting that the “user-friendly application process” and “speedy approval” make it a viable option for startups looking to achieve big results quickly. Cano-Ela shared similar sentiments, emphasizing that the voucher provides an “accessible way to collaborate and reduce costs” for small companies aiming to scale efficiently.
In conclusion, the SME Innovation Voucher has proven to be a critical tool in the innovation journey. From facilitating access to otherwise out-of-reach facilities and resources to providing financial risk mitigation and fostering collaborative networks, the voucher program is enabling startups and scale-ups to bridge the gap between innovation and market readiness. As Time Travelling Milkman aptly summarized, “The voucher acts as a tailor-made catalyst for accelerating innovation in a cost-efficient manner.”