Norsk Elektro Optikk AS
specialists in electro optic technology
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May 7th 2018
The NEO Grant

Do you have a product idea?
Something you want to verify and explore for commercialization?
Do you want to join an inspiring and innovative team, creating new photonics-based products?

Norsk Electro Optics is launching the NEO grant!

Norsk Elektro Optikk AS (NEO) is owned by the Irma Salo Jæger and Tycho Jæger's foundation. We are working on R&D-based projects of high quality within the area of electro optics and photonics, willing to take high technical and commercial risk.

Being an innovation based enterprise, we invest in projects with the ambition that ideas, research and new technology will create profitable products and solutions for the industry and the society.

NEO is now setting up a «NEO grant», and we invite researchers and small research groups with product ideas within electro optics, photonics and related areas to get in touch with us.

The NEO grant will finance one or more positions for you to work with verifying and commercializing your idea. We offer access to the infrastructure needed. The potential for successful results being enhanced by the cooperation with our technical, marketing and business development staff. We also encourage the applicant to retain and develop network and relations to other R&D groups. The grant may also include resources for further developing such cooperation.

Duration and volume will depend on the project chosen. The first period of verification should be concluded after 1-2 years. The long term goal is to take a new product to the market. If the project shows progress and potential, prolongation and/or permanent employment will be offered. We will focus on creating a predictable and long-term relation between NEO and the applicant.

The applicant (team) should bring a specific project or product idea, that can be verified and realized in cooperation with NEO and industrial and/or academic partners.

From NEO's side we will need to have access to the IPR that is developed and needed to commercialize the idea. If the idea creates a commercial success, the inventors will be rewarded. We will also encourage to write scientific and technical publications, provided our commercial rights are protected.

Preferably, we would like to award the NEO grant to a small team (2-3 FTEs) already working together. The team should match the specific idea that is targeted. The idea/product should be research based. The team may include part-time employees or advisors.

We welcome individual applicants, but will then like to complement with other team members.

We invite potential applicants (applicant teams) to contact NEO before June 15th 2018. In the first round we want a brief description of the idea/product and the team, along with some thought on what kind of verification and development that is needed. A total of four A4 pages should be sufficient. We do not need a very detailed discussion of details, making it necessary to enter non-disclosure agreements at this stage.

We are happy to meet with potential applicants prior to the submission of an application. This may help both parties to sort out open issues and clarify expectations.

NEO will have an evaluation committee, including two NEO employees and two internationally renowned scientists. We plan to make a final decision for the first NEO grant en early September. We will be very flexible with all practical arrangements, including startup. If we do not identify candidates matching our expectations and hopes, we will make a new announcement later.

The originality, the commercial potential, the relation to NEO's other activities and competences, as well as the applicants' profile, will be considered important in our decision making.

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