Commercial Analytical Research Organisations Transnational Strategy (CAROTS)
CAROTS aims to establish a new type of private or public-private company in the Baltic Sea region: Commercial Analytical Research Organisations (CARO). CAROs, as intermediary bodies between industry and academia, provide enterprises with much quicker yet complete assistance in analytical research in the fields of e.g. new materials, nanotech and life sciences.
The market of Commercial Research Organizations in Pharmacy is about $27bm in 20141. The project aims to initiate first steps to enter a similar market in above described areas. We see the Baltic Sea Region as a test bed for a new type of intermediaries between industry and analytical facilities. It is a rare chance to involve private capital investing in CAROs - in collaboration between industry and (mostly public owned) Analytical Facilities. Although a few CAROs already exist in Europe, the market fails in generating additional enterprises of this type. At the moment it seems that a lack of risk capital and loans for the creation of new CAROs and the lack of visibility of existing CAROs hinders the creation of additional companies. Improved conditions along with greater visibility, a better knowledge transfer and more transparent financial data could help to attract entrepreneurs and venture capitalists to support CAROs. This would also enhance the attractiveness of CAROs for potential customers (SMEs and industry). The proposed project CAROTS will analyse the current situation and develop first solutions. It will integrate different stakeholders, e.g., public administration, universities, large-scale RI, venture capitalists, banks and existing CAROs, which might have an influence on framework conditions for CAROs.
Project homepage https://www.carots.eu/