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LTU Business extends Austin Cooperation with Five Years

Published: 5 September 2018

As part of its collaboration with the University of Texas in Austin, LTU and LTU Business have sent six students to Texas and India to work with innovation and market validation. Now the LTU Business extends their student program with five years.

- Our mission is to create sustainable change that leads to a better society. If we can send young students from the university who will help female innovators in India, we think it is a very good step along the way, and we are therefore extending our cooperation with five years, said Pär Johansson, strategic officer at LTU Business.

During the summer, six students from Luleå University of Technology went to Texas and New Dehli. The purpose was to help female entrepreneurs to explore the potential of their innovation ideas in new markets, including Europe and the USA. In total, eight innovations were investigated, such as a gray water filter that cleans all household water except toilet water and robots that can climb inside small pipes for efficient maintenance or new methods for oat storage.

- The biggest change for us was probably the cultural differences that exist between different countries. Perhaps it was our most important lesson about how hard one has to work to create good group dynamics, said Lovisa Ingvarsson, a student at Luleå University of Technology.

LTU Business has been working closely with the IC2 Institute at the University of Texas in Austin in innovation management for several years.

- Our collaboration has led us to have taken a unique position in Sweden with our proprietary Innovation Due Diligence method. Our Austin cooperation has today created more than 20 million SEK in revenue and 5 new positions since 2015, says Pär Johansson, strategic officer at LTU Business.