Lukoton granted prestigious “Best Innovations” EU funding
The 70 billion euro Horizon funding program focuses on intensive growth SMEs with the potential to revolutionise different business areas. Lukoton was selected along with 2 Finnish companies to receive funding from a list of 2000-plus applicants.
International experts believed in Lukoton’s business plan and their ability to strongly build on their expanding international concept. “It all begins with a unique and game-changing idea, but without credible evidence of our ability to commit and to deliver concrete results, there is no point in even sending a funding application”, says Lukoton CEO Ari-Pekka Hietala. “A company needs an innate global mindset, a team with a proven track record and a plan that puts their money where their mouth is, so to say. A sole focus on developing and piloting new technologies won’t score highly during the application process.
During the initial 6-month stage, funding will focus on developing Lukoton’s business plan, with a keen focus on expanding markets. The budget might rise to 2.5 million euros during the second stage, after which funding will be used to expand business in new markets. The EU’s spending on the Horizon 2020 (H2020) program and on new innovations will increase even more in 2016.
True Smart City Application
Our H2020 project will deliver a completely new service innovation that will improve the working lives of people and vendors in a Smart City context. Early indications are promising, as even a moderately successful small-scale adoption of our Lukoton technology ecosystem service by EU cities can deliver tens of millions of euros in annual savings. In addition, our service will improve local security, increase corporate workflow savings and will also improve the competitiveness of cities and communities. As a side note, we hope to slowly change the way people think about traditional locks.