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Startup Korea Roundtable 2Q 2015_Finland

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Startup Korea Roundtable 2Q 2015_Finland

  1. 1. The Start-Up Support Ecosystem in Finland D.Camp RoundTable Finpro (Finland Trade Center) Yoon-Mee Kim Senior Advisor ym.kim@finpro.fi April 28, 2015
  2. 2. Overview on Aalto Start-up Ecosystem 29-04-15 2 © Finpro Research within Entrepreneurship at Aalto Business School Aalto Executive Education Ltd Research Start-up Center Business Accelerator Creative Entrepreneurship Training Central Balticum Entrepreneurship Interaction programme Aalto E.S Summer of Start-ups Start-up Sauna Start-up Sauna Accelerator Program Start-up Sauna Local Events Aalto Venture Program PACE Summer Course Small Business Center Aalto Center for Entrepreneurship (ACE)
  3. 3. Aalto Entrepreneurship Society – Aaltoes • The biggest and most active entrepreneurship society in Europe • Private and independent student association, founded and managed by and for Aalto students • Organise seminars, workshops, and other events for students and other people interested in the startup scene • Important actor in promoting entrepreneurship as a career choise among students and communicating the opportunities available for support and funding activities • Startup Sauna Seed Accelerator Program and Startup Life Internship Program were created by Aaltoes. Aaltoes also started organising the annual event SLUSH which has grown to be one of the largest startup conferences in Europe. 29-04-15 3© Finpro
  4. 4. Start-up Sauna : born out of AaltoES http://startupsauna.com/ “Accelerating the most promising start-ups in the Nordics, Eastern Europe and Russia” “ A leading global network of serial entrepreneurs, investors, and peers.” “Currently 145 companies have graduated from Startup Sauna since 2010, raising more than USD 37 million in funding. “ “Startup Sauna is organised twice a year, the Spring program in May-June and the Fall program in October- November. The program takes place in our own co- working space in Helsinki, Finland. “ “Summer of Start-ups” June-August ; annual 9 week summer incubation programme (independent of Startup Sauna) http://summerofstartups.com/ 29-04-15 4© Finpro Nordica Eastern Europe Russia
  5. 5. Aalto Entrepreneurship Society – Summer of Startups • What is it? a 9-week full-time program targeted for ambitious people to help them get started with their own businesses. Also get a place to work, coaching and the support of its community. • Who is it for? It’s for students and recent graduates with an idea for a startup and a passion to drive it forward! • What happens during a program? Get coaching from experienced coachest to enable your team to turn your idea into a viable business • When is it? Starts on June 6th and ends on August 6th with Demo Day. • Where is it? The program will mostly take place at Startup Sauna, Espoo, Finland. • How to apply? Press the ‘Apply now’-button and send us your application. Remember to include a one minute video about your team and/or idea. We will invite 20 teams to be interviewed in May and then choose the best of the best to take part in Summer of Startups! 29-04-15 5© Finpro
  6. 6. Slush 2014 www.slush.org 29-04-15 6© Finpro Slush 2013 Slush 2014 Attendees 7000+ people 13.000 +people Companies 1200+ companies 3.600+ companies Countries 68+ countries 79+ countries Meetings 1960 pre-set meetings 7000+ pre-arranged meetings funding USD 150 million in funding in the six months following the event *Estimate : Investors with about 60 billion euros in venture capital come to Slush. Journalist 350 journalist from around the world 500 journalist from around the world Others 118 VC funds & 200 angel investors 200 represented VC fundings
  7. 7. Demola DEMOLA In Demola, university students develop product and service demos together with companies, creating new solutions to real-life problems. Demola provides an inspiring atmosphere of creative co-creation and new learning opportunities for students and professionals of different universities and organizations. Demola Summer Program : Demola’s summer trainee program offers summer jobs for students who want to work on challenging projects with top class project partners. In 3½ months, the teams create a demo, concept or even a prototype with the help from Demola facilitators, workshops and community events. 29-04-15 7© Finpro
  8. 8. Demola Tampere • Launch of Demola Network in 2008 • 100 projects and 450 students annually • 40 % of students are international • Partner companies have licensed 80 % of the project outputs and hired 15 % of Demola’s students Demola, Tampere
  9. 9. Through this Demola project for ABB in 2013, I learnt how to communicate with people from different fields who have totally different point of view compared to me. I could also improve my English skills and understand how theories can be applied into real market situations. Ms. Kim, GE International Inc. Korea Demola, Tampere
  10. 10. Demos Helsinki : The Peloton Smart Retro Accleration Program http://smartretro.demoshelsinki.fi/ • Access to partnerships, mentors, users, communities and spaces • Built for enabling startups and entrepreneurs to develop their products fast and efficiently by bringing together decision makers, expert mentors, key stakeholders, user communities and community leaders • The 6-month program’s (12/2014-5/2015) events are located in Lahti, Finland, Stockholm, Sweden and Oslo, Norway. • intensive co-creation around your concept at innovation camps with the corporate and public decision makers, experts and community leaders • 2-month test-bed phase with real users • local matchmaking events with a wider audience of potential partners during the test-bed phase. • The best two startups will be sent to pitch to investors in smart green innovation conference Ecosummit, Berlin on 16–17 June 2015. 29-04-15 10© Finpro
  11. 11. Demos Helsinki : The Peloton Smart Retro Accleration Programme http://www.demoshelsinki.fi/en/projektit/peloton-the-makers-of-new-economy/ • Peloton has been joined by partners : • The Finnish Innovation Fund (Sitra), • Ministry of Employment and the Economy, • Ministry of Agriculture and Forestry, • the Central Union of Agricultural Producers and Forest Owners (MTK), • Companies : food producers Fazer and Anton & Anton, Bonnier Publications, the S-Group network of retail and service companies, hardware stores Starkki and Puukeskus, retail store Stockmann, gardening and farming tool producer Biolan, and the Foundation for Student housing in the Helsinki Region (HOAS). 29-04-15 11© Finpro
  12. 12. Vertical Accelerators • HealthSPA ; a non-profit association for health startups. The largest health tech event in the Nordics, Upgraded Life Festival. Serious Gaming Main partners : City of Espoo and EIC ICT Lab • Hardware HEL ; HardwareHEL is the PRIME community for hardware startups and hw-minded folks in Finland. HardwareHEL embraces Internet of Things -devices, Wearables, Robotics, Industrial Design, Smart and Stupid Gadgets, Clothing, Audio, Machinery, etc. • Serious Gaming ; The Serious Gaming Cluster Finland is a network of companies developing products with a primary purpose other than pure entertainment. We are working within five sub-clusters of Learning, Wellbeing, Environment, Gamification and Simulation. 29-04-15 12© Finpro
  13. 13. TEKES Funding for Young Innovative Companies (YIC) : Vigo 29-04-15 13© Finpro Vigo is a business accelerator programme for innovative young companies The Vigo programme interconnects innovative business ideas, internationally experienced professionals in entrepreneurship and both public and private funding. Company accelerators invest capital and their expertise to quickly develop the start-ups they have selected, to make them suitable for investment from the viewpoint of risk investors. In 2009, Vigo set a target to acquire EUR 200 million in private funding for start- ups within six years. Now this target was reached two years in advance. Approximately EUR 160 million, stems from foreign private investors and business angels. More than EUR 70 million of public equity has been spent on the target companies during the Vigo Accelerator Program. The Vigo Accelerator Program founded in 2009 by the Ministry of Employment and Economy aims at creating new start-ups with growth potential in Finland and to accelerate the growth and internationalisation of its target companies. Tekes and Finnvera operate as public investment funds.
  14. 14. Closing thoughts - Students-driven social innovation - Government driven vs. private driven - How to create new values and be sustainable, not to be the “boondoggles” - if not born-global, it is cannibalizing. - Reduce the number of start-up support orgs -> Scale up - Collaboration is the competitive advantage - What about the social-cultural difference? Entrepreneurship education and start-up supports that fit with Korean culture

Notes de l'éditeur

  • PACE : A 2-week interdisciplinary entrepreneurial course, which combines the most recent insights from psychology, identity theory, and creativity research with the latest entrepreneurship education research. The first PACE course was at Aarhus University, Denmark and after Aalto University in 2015 it will run in France and in 2016 in the USA.

    ACE : The aim of ACE is to commercialize research that originates in Aalto University. ACE is also the technology transfer office of Aalto University and manages Aalto’s intellectual property rights (IPR). ACE offers its commercialization services to and accept invention disclosures and business ideas from Aalto researchers, students and staff. ACE is Tekes funded (TUTL) and consists of a team of 15 people from various disciplines. In 2013, ACE got 150 Innovation disclosures, established 8 startup companies and filed 28 first filings to protect Aalto University research based inventions.

    AEEL : Aalto University Executive Education offers high-profile leadership development services (Aalto EE), trainings for professionals (Aalto PRO), and development services for entrepreneurs (Aalto ENT). Aalto University Executive Education Ltd is fully owned by Aalto University.

    SBC : SBC at the Aalto University School of Economics (Aalto SBC) specialises in developing entrepreneurship and business skills. Aalto SBC is primarily involved in training, research and development, with a strong emphasis on creative entrepreneurship and entrepreneurship in the creative sectors. Aalto SBC’s main target groups are entrepreneurs, students and teachers. Approximately 4000 people are involved in Aalto SBC training events annually. SBC also co-operates closely with government officials on policy recommendations. Aalto SBC’s offices consists of 60 specialists.

  • Smart Retro project’s main funder is Nordic Innovation Fund. Nordic Innovation funds Nordic projects that boost innovation and competitiveness in the Nordic business sector and lead to commercial and sustainable development. Smart Retro is part of Nordic Innovation’s Nordic Built Programme. Nordic Built is a Nordic initiative to accelerate the development of sustainable building concepts. Nordic Built is initiated by the Nordic Ministers for Trade and Industry. It combines key Nordic strengths, provides attractive and effective arenas for collaboration and realises concrete projects that demonstrate world-class scalable solutions.

    Johanna Liukkonen : johanna.liukkonen@demoshelsinki.fi / +358 40 154 6452
    Maria Ritola, Researcher, Head of the Resource Smart Economy research area. At Demos Helsinki Maria leads the Resource Smart Economy research area and operations of Peloton portfolio that leverages state of the art research to create sustainable business strategies with private and public sector partners. Maria is also one of the founders of Peloton Club, Finland's flagship consumer cleantech incubator combining clean and digital. At Demos Helsinki, Maria leads Peloton portfolio which translates opportunities arising from the resource revolution for private and public sector organizations. She was also one of the lead researchers in European Commission’s SPREAD Sustainable Lifestyles 2050 research project. The study involved eight European research institutes, ranging from CSCP and Politechnico di Milano, and companies from IKEA to Henkel. The project resulted in a broad understanding of untapped opportunities in consumer markets related to natural resource use and behaviour change.
  • Industrial Counsellor, Ministry of Employment and the Economy, Sakari Immonen, TEM, phone +358 (0)50 592 2128, name.surname@tem.fi Director Jukka Häyrynen, TEKES; phone +358 (0)50 5577 970, name.surname@tekes.fi Special Adviser to the Minister of Economic Affairs Pete Pokkinen, TEM, phone +358 (0)40 756 7180

  • The brains and money behind Supercell Oy have launched an early stage investment vehicle to give embryonic Nordic startups what their American counterparts in Silicon Valley receive from super angel investors: big investments with a long horizon.
    A team including Finnish venture capital firm Lifeline Ventures, which funded Supercell in its early days, and several members of Supercell have raised €15 million to boost the local startup scene. “Our focus will be on startups from Finland and nearby countries such as Estonia and Sweden,” Lifeline’s partner, said.
    Ilkka Paananen, Supercell’s chief executive is the single biggest investor in the vehicle, having put up €5 million.
    Lifeline’s new investment vehicle is a firm, not a venture capital fund with a fixed investment period and expiration date when its investments are liquidated. “We have no preset target date when we plan to exit from our investment. Instead we can be patient and stay in the same boat with the company’s founders as long as it takes to succeed,” said a Lifeline partner.
    Due to the country’s small size and the relatively short history of its VC scene, individual early stage investments by Finnish investors have been small, typically around €50,000 ($70,000). As a result, promising Finnish startups have been compelled to seek early stage funding from abroad.
    Initially Supercell’s six founders combined invested €270,000 ($373,000). In addition, the company received an early stage loan of slightly less than €400,000 ($550,000) from Tekes, the Finnish Funding Agency for Innovation.
    But for its first proper funding round of €750,000 ($1 million) in November 2010, Supercell couldn’t rely exclusively on Finnish investors but had to turn also to foreign investors
    funding at an early stage for a startup is to shield it from time pressures. “Say a good company gets a million early on, instead of having six months it can have 12 or even 18 months to get its team and business plan in the right alignment,” Mr. Ahopelto says.