Intellipocket, founded in 2009, is a model company despite its young age, or perhaps even because of it. Finland now craves for new export companies to accompany the handful of Nokias and Rovios on the market. Official speeches brim with high hopes for the future generation of start-up companies.

Particularly Aalto University – with its academic marriage of arts and design, engineering and business – is seen as a source of new inventions, and therein companies that can be helped in their efforts to conquer international markets by the business incubator.

Good ideas are often simple, like replacing a stack of plastic cards with the flick of a phone. The clients of Intellipocket include Kesko, RAY, insurance companies and trade unions as well as hotel and restaurant chains.

- We are a rare company in that we haven't had the need for venture capital. Everything runs at a healthy and growing pace with the cash flow our customers bring us, Rehtijärvi says.

According to the CEO, the plan is to expand first into other Nordic countries and the Baltic, followed by the rest of Europe and eventually the United States. In the wake of this expansion the possibility of venture capital will of course grow.

Small growth companies are often associated with web and mobile service providers like Intellipocket. Out of the 70 incubator companies at Aalto Start-Up Center around 50 are information technology -based, with the remainder being driven by arts and design. Specific areas range from gaming to virtual learning and occupational wellbeing consultancy. The incubator is meant for less than three year-old companies with a scalable business idea, business plan and a drive to make it into reality.

- We require the team to possess technical, operational and sales know-how. We also look at previous achievements, what the applicants have studied and what kind of connections they have. And then there's the "soft-side", meaning their drive and motivation, recounts Matti Karjanlahti, one of the incubators business advisors.

From an estimated 200 yearly applications around 35-40 are admitted into the business incubator. According to Karjanlahti, the team is often a more important factor than the business idea in the application process. A good team will be able to modify its idea flexibly.

The incubator helps companies for a maximum of three years, after which they have to continue on their own and make way for the new batch of companies.

In the corridor the basics of doing business have been laid out on a canvas displaying a large graph.
- What is the business logic, cost structure and realistic market share? What customer problem is the company striving to solve? These elements should be thought out, Karjanlahti lists.

The growth estimations of a start-up are often overly ambitious. According to Karjanlahti, absolute numbers are not the focus of evaluation, but rather the quality and logic of the thought process.

Because open interaction between the incubator companies is wanted, no direct competitors are taken under the same roof.
- We don't want anyone to feel that they have to be wary of what they disclose, Karjanlahti says.

In the press, the job losses and layoffs of Nokia and the forest industry are a common topic. However, the only thing that is certain in the global economy is change – Of the competing national economies those that can develop new ideas and companies from the ashes of old ones are the ones that prevail. Karjanlahti thinks that when correctly channeled, the ex-Nokia talent pool can be a powerful engine for something new.

Naba Kumar, a former seven-year Nokia employee, founded Stramos Oy with his old colleagues. The company has developed a led-module powered electronic presentation stand, on which animations and graphics can be reflected.

- We are a half year old company. We started at Aalto University's pre-incubator, where we spent five months. We've now been here at the actual incubator for two weeks and it seems really good, Kumar says.

The five-person company now works from one room, but has its sights on world domination. The company aims to enter international markets and full-on production already next year.

Start-ups are typically high risk companies that initially need venture capitalists to support them. A company can test its product in the domestic market but the direction is towards global markets, from where, the goal is to dominate a very specific niche. A key attribute, therefore, is the scalability of the product or service into ever larger markets.

A comment often heard in the hyped-up start-up conversation, is that they aim not only to do business but to improve the world. This is true at least for Bank4Hope, a web-based development aid service that intends to increase the transparency of charity. Contributors are given an account, from which they can choose their recipient and receive real-time information on the arrival of the aid. Bank4Hope wishes to be a solution for the inefficiency that development aid is often accused of.

- The doubting Thomases don't believe that development aid is reaching its intended recipients, but we can show the impact unequivocally, says Joel Takala, one of the company's founders.

Bank4Hope has partnered with three Finnish development aid organizations, Fida, Finnish Refugee Council and the International Solidarity Foundation. For further growth the company needs more partner organizations, optimally a global aid organization.

Towards the end of the wintery afternoon, a sauna yoga lesson is being held next door at sports center Elixia. The actual lessons are held in a 50 degree sauna for small groups. Now, however, the founder and CEO of Sauna Yoga Ltd. Tiina Vainio is coaching future instructors. Sauna yoga has quickly become a success story with 123 instructors in 30 localities from Helsinki to Saariselkä. And even though the sport may seem highly Finnish, Vainio already has her sights on international markets.

- I was interested in the combination of yoga, pilates and silence, and I saw in it a new form of relaxation suitable for practically anyone, Vainio recounts.

The lessons are licensed for Sauna Yoga in the same way as Bodypump and Body Balance are for Les Mills. The movement series changes four times a year, as with international group workout concepts. Vainio worked as a trainer and coach for various group workouts for 14 years. It was from Les Mills, the "McDonald's of the fitness industry" as she calls it, where she got the idea to create something as universally enjoyable.

Business advisor Karjanlahti estimates that the role of start-up companies will continue to grow but it will still be a long time before they reach a truly significant percentage of the economy at large.

- Growth companies function also as role models and sources of inspiration. There's a greater chance of many small success stories than huge ones. And in the end, these are companies so much more light-weight than ones in for instance mining, where single investments can cost a billion euros.

The initial investments are small for growth companies, which substantially reduces risks.

- If everything goes belly-up, it's two years of work and some tens of thousands that go down the drain. Even in the worst-case scenario the losses are quite reasonable. And a lot was learned in the process.

Text: Sami Vainio/Sunnuntaisuomalainen (17.3.2013)
Translation: Tuomas Silverang

The Forum was opened by the ambassador of Norway to Finland, Mr. Jørg Willy Bronebakk after whom the audience listened to keynote speaker Mr Pekka Ala-Pietilä, the chairman of Finnish work group ICT 2015. Mr Ala-Pietilä concentrated on shedding light on ways through which Finland would transfer from static state of competition towards more dynamic one and improve its competitiveness on global markets. According to the ICT 2015 work group Finland should improve its national utilisation of our high ICT- competence and to become a favourable destination for start-ups that seek higher competitiveness through ICT- services. Increasingly large share or the value added in ICT is created through services that require ability to apply high information and communication technology. Another keynote was given by Mrs Pia Erkinheimo, head of crowds & communities at Tivit Oy, who spoke about crowd sourcing, crowd funding and open innovation. Finally Jussi Mekkonen, Head of Branch Regional, of Nordea described Nordea's approach to funding possibilities for SMEs in the presently challenging market environments.

The forum itself gave a chance for nine start-ups to present their business idea to capital investors. This time six companies were Finnish, one from Estonia and one from the United Kingdom. First each of the start-ups gave their 30 second power pitch after which the actual seven minutes business presentations followed. The whole event took only the morning and therefore did not require vast time resources from the investors. The purpose of the forum is to coach start-ups to give credible sales pitches, to ensure that the start-ups are fitted for capital investments but also to maintain the quality of the event.

Mr Steinar Hoel Korsmo, the Norwegian founder of Seed Forum mentions that approximately from five to ten per cent of the featured start-ups gain investment through the forum. The training prior to the event and the chance to encounter investors encourages start-ups to participate, for the attendance and experience is always beneficial.

Grounding of Seed Forum to Finland has been a part of Single Home Market project, an EU- funded project belonging to the Central Baltic Interreg IV A programme. The project is led by the Investment and Development Agency of Latvia. In addition to Seed Forum co-operation the project aims at facilitating Estonian, Finnish and Latvian start-ups' internationalisation process to the neighbouring markets and at supporting business incubation co-operation between these countries. Single Home Market project continues until the end of the year 2013.

For more information, please contact Project Manager Katri Liekkilä, katri.liekkila@aalto.fi, +358 50 3499 203.

Katri Liekkilä

Aalto University, Small Business Center is involved in developing and strengthening competences, skills and risk management of Finnish companies of wood procurement to work in Russia. Moreover, both entrepreneurial and business management skills are advanced through virtual service provided in Finnish and Russian. The project continues for two years' time.

The lead partner in WOPE-project is Mikkeli University of Applied Sciences. In addition to the Small Business Center of Aalto University, other partners are South Savo Education, St. Petersburg State Forest Technical University after S.M.Kirov and Autonomous public institution of secondary vocational education of Leningrad oblast. Thus, the project consists also practical training in wood harvesting for the managers and employees of Russian companies and teachers of the vocational institution. The project cooperates with companies like Metsä Group, Stora Enso and Komatsu as well as the Finnish Forest Institute.

In the seminar the growing needs to intense cooperation in the field of wood procurement to improve its efficiency, profitability and environmental friendliness were clearly brought out. It is the WOPE-project all about.

The project is co-funded by the European Union, the Russian federation and the Republic of Finland.

Text and photo: Juha Stenholm

 –With design it is the same story as in other business development – start early-fail quickly! With the well-designed presentation you can start the sales and get the first customer feedback. After this process it is much easier to create the prototype and go ahead towards the final product or service, Aaltio continued in StartSmart! seminar focused on Design & Technology. The seminar took place in Design Factory, Otaniemi. There were more than one hundred participants from Estonia and Finland.

Find the best partners in every markets

Mr Jaakko Lipponen, Multitouch Oy opened their internationalization. The company grows very fast with manufacturing big and advanced displays for public environments. They have delivered their products in museums and exhibition halls.

–We started our strong presence in the US by seeking a good partner. We were lucky and now we have some million Euro turnover in the States and the business is growing strongly. From our experience, the right partner in the internationalization is a key element, Lipponen emphasized the meaning of the right choices in the new market places.

Four different business cases with their own challenges

After key-note speakers the seminar participants heard four prepared company cases. Stylewhile Oy and Jutta Haaramo told her plans to the international markets, Stramos Oy presented their thoughts of industrial design as well as Fourdeg Oy. Hahmota Oy showed their very informative service earning and spending public funding in some Finnish cities. They were interesting ones and after them there were three pop-up idea groups telling their business ideas.

On Thursday, they were interesting and active workshops with six different business areas. The results of the group works will help directly four companies presented their challenges on Wednesday afternoon.

StartSmart! is the  essential part of the FINEST- project funded by Central Baltic Interreg IVA Programme 2007-2013. The Finnish partner in the FINEST is Aalto University Small Business Center. It was responsible for     organizing the existing StartSmart! seminar.

 – If we over estimate a little bit you will die of survive with the first user experience. The design is an important part of this situation. You have to design your service or product in any case. Because of that it is essential to create your outcome as well as possible, Mr Hanski continued. He was a key-note speaker in StartSmart! event in Design Factory in Otaniemi on Wednesday. In the seminar there were more than one hundred participants form Estonia and Finland. Everyone was interested in the new entrepreneurship.

Take committed design consultant

Mr Mikko Hanski gave some advice to young entrepreneurs. –When choosing the design consultant, you have to be sure his or her commitment in the designing project. You have to remember the different backgrounds the entrepreneurs and consultants have. The point of view separates them. The second important thing is to keep the thinking simple. The young firms and their teams are very innovative – they find new things and features almost every day. In designing this is dangerous – the only issue they have to keep in their mind is the needs and user experiences of the buyers. The last one is the main target – both in the design and in the whole business.

-The design is always team work. This means working together with the team members and at the same time it would be useful to have some mentors, outsiders for challenging the ideas. In the design project the company has to iterate and reflect continuously – and the process has to be based on the customer expectations and the needs.

Idean Oy is the company creating the future of user experience. The company has a strong internationalization program just now.

Idean Oy is a user centric design company with big success in the international markets. Mr Mikko-Pekka Hanski will tell about the user experience. The topic is a key element building businesses in tangible and intangible products or services.

Metso is a world-class Finnish conglomerate with many industries. Mr  Lauri Aaltio will clarify the content and the meaning of industrial design.

Mr Jaakko Lipponen, Multitouch Oy will present their story about the internationalization. Multitouch Oy is in a strong progress to expand their global marketing efforts.

StartSmart! is a nice and unofficial seminar with more than participants from Estonia and Finland. The registration is still open – visit www.start-smart.me and event.

StartSmart! event is funded by European Union Regional Development Fund and it is a part of Central Baltic Interreg IVA programme 2007-2013.

During the past couple of years Kazan has done a great face-lift and construction-boom is still going on strongly. In Kazan will be held 27th Summer Universiade next year, in year 2015 Kazan will host World Water Sports Championship and 2018 FIFA World Cup among 13 other cities in Russia. That is why there is a long list of construction complexes which have been built and will be finished in coming years. For example a Finnish construction company YIT is very active in building flats in Kazan.

Only about 15 minutes´ drive from city of Kazan has started a new project - Innopolis. It is about 1.200 hectares area, where will be build a whole new city with innovations playing part in everything – from education and healthcare to attracting investments and developing new products in business as stated by President of the Republic of Tatarstan, Chairman of the Council of Association of Innovative Regions of Russia Rustam Minnikhanov. In the new city will be established remarkable infrastructure: technoparks, development centres and multy-industry clusters. The first IT Univesity in the Russian Federation for over 5 000 students including residential campus and well-developed educational infrastructure will be developed with partnership of Carnegie Mellon University (USA). As well in the city will be developed commercial and social infrastructure (shopping centres, recreation and entertainment centres, schools, kindergarten and sports facilities). As residents of Innopolis is expected population of 155 000 and including 60 000 highly-qualified professionals. IT-park Kazan residents has at the moment average age – 27 years and it is predicted to be in Innopolis at the same level. One part of the area will be devoted for Special Economic Zone in order to attract potential investors and future residents. There will be special tax rates, customs area, and low administrative barriers as in any special economic zone in Russia. So far foreign companies like Panasonic, Philips, Siemens and Samsung has been interested in business establishment to Innopolis.

Simultaneously there has started another interesting project - Smart-City Kazan, which is actually focused to build a special center for Russian and foreign companies working in high technologies. Smart-City Kazan is located close to airport, which has opened a new terminal lately. As well in December 2012 was finished the railway-connection from airport to city of Kazan. It is planned the Smart-City Kazan will have almost the same advantages as special economic zone for establishing companies.

It is obvious that Kazan is a remarkable center of IT-know how in Russia and determined to develop it further. For Finnish companies this one more good challenge and potential market in many respects – not only in construction business, but also in IT-sector. Representatives from Small Business Center visited Kazan and IT-Park Kazan in December 2012. According the results of negotiations the following steps will be done in the beginning of next year and covering actions in collaboration of business-incubation, trainings and development of creative industries.

Juha Stenholm

The Lucia Innovation Tournament was an international day for plus 60 Finnish and international participants. Mainly, they were from Aalto Protomo projects but there were numerous people from Estonia and Latvia. 

– This was very interesting way to improve start-up ideas and business models. We will try it in our business incubator in Liepaja, Mr Ingus Palapis, the manager in Society Kurzeme Business Incubator in Liepaja told. He and his colleagues from Liepaja were satisfied with their experience.

Mrs Pia Erkinheimo and her team Innozed-team were responsible for the management of the day.
–The participants were seriously involved in the whole development day. The last round with three finalists was impressive – every team and their members were like in real tv-show in their last round. It was fun and based on the immediate feedback people were keen on doing their idea development also after the Tournament. And as in the Wimbledon tennis tournament there is only one winner but every team made a fantastic work. I am absolutely sure that everyone got some new things in their development thinking, the hostess emphasized after the demanding Lucia day.

-This was first time we tried this kind of idea development. The people were amazing – so focused on serious work with the right humoristic attitude. Naturally, there were many things we have to improve for the next tournament. The basic structure and model is well organized. Some schedule issues have to be evaluated and changed, Mr Seppo Rantalainen, the facilitator of Aalto Protomo Helsinki expressed his experiences.

The Lucia Innovation Tournament was an activity of the Home Market project. It is funded from Central Baltic Interreg IVA Programme 2007-2013. Aalto University Small Business Center is the responsible manager of the Home Market project in Finland.

Moreover Otaniemi region is compact area to arrange versatile training program with lections and visits to various places. The program was organized in close collaboration with special unit of St. Petersburg City administration. Campus area of Aalto-university with new learning and collaboration environments was very fascinating for Russian experts.

The program was tailored according to specific needs of the Russian participants. Focus of the program was ICT structures and solutions, information security and storage and new models for promoting innovations and business-university collaboration. Visit has been counterpointed with viewpoints and presentations of such top-level companies as Nokia, Microsoft, CSC-IT Center for Science, Envault, Stonesoft Corporation.  During the week, besides the presentations of Aalto-university and its` special units , participants get acquainted  with the Technical Research Center of Finland and took part in Oracle Day event in Helsinki. Russian participants have appreciated networking possibilities with Finnish experts.

The group consisted of 22 people, aiming to make their project work for their own university during the week. Many participants evolved also practical collaboration proposal for Aalto-university. It is important , that it was not only separate training, but it is planned to continue collaboration with Russian partners to arrange similar kind of trainings in the nearest  future,-  reminds Elena Mochnikova main coordinator of the program from Aalto University Small Business Center.

Additional information: elena.mochnikova(a)aalto.fi

Text: Niko Arola and Juha Stenholm

Picture: Russian group visiting in Aalto innovation House (Petr Rogov)

 – Our firms have been here since 1991. We have a history and an experience to do business in Latvia.  We launch EEA and Norway Grants 2009-2014 for the next period and it is a remarkable support developing new businesses here, Mr Grevstad emphasized new possibilities in his presentation.

Mrs Lene Grönvold, the CEO Norwegian Chamber of Commerce in Latvia described the strong position on Norwegian entrepreneurs in Latvia. – We have many flights from Norway to Latvia and vice versa. This means quick contacts and easy management in the daily working.

Mr Gints Vins, the head of Seed Forum Central and Eastern Europe had a clear message to the audience. – We have arranged the Seed Forum seminars ten times in Riga and showed a long list of new and very promising companies. As an example, one of our candidates got their first round investment from Liethuania and the company moved there. This is a very concrete way to show that the investment markets grasp heavily in the new ventures. Who gives the money says the rules even in the location issues of the firms. Now the company is growing in Lithuania and making profits for investors there, Mr Vins presented. – We heard the opening remarks of Latvian Minister of Economy Mr Daniels Pavjuts. It is a real pleasure that the government decided to open two totally new venture capital funds. This offers promising possibilities for the Latvian start-ups and new companies, Mr Vins thanked.

In the seminar, there were more than one hundred investors. They saw ten promising new firms seeking investment. One of the presenters was Tangareef – a Finnish promising start-up focusing heavily on a new booking service.

Aalto University Small Business Center is the official Seed Forum representative in Finland. The next Finnish investor seminar takes place 30^th October 2012 in Nordea Bank in Helsinki.

In the comparison of World Economic Forum Finland is 133 of totally 142 countries when they studied the flexibility of the salaries. The main guilty one is the Finnish Trade Union and especially SAK, the serious and the serial entrepreneur Mr Kyösti Kakkonen described the difficulties creating new growth companies in Finland.

– Luckily, our climate is changing but still it is a sin to fail. This is an immature phenomenon. In my mind it is not a sin to be unsuccessful but it is a real big sin if you do not try again, Kakkonen emphasized.

An investor in 24 start-ups

Mr Kyösti Kakkonen is a remarkable investor. In his portfolio there are 24 new and growth focused ventures. – Just now it looks better – TEKES has established the New Innovative Firm-program and they accept even marketing and sales costs in TEKES-funding. The Finnish government has decided to give support to the business angels and the private investors when they put their money in the young, unlisted firms. This is really a good signal – unfortunately the details are still open, Kyösti Kakkonen clarified the Finnish investment climate.

Universities are important partners

-As an example for Aalto University in Joensuu we have a company named Nanocomp Oy. Its knowledge capital is based on the doctors working in the University of Joensuu. They made the innovation and last spring Nanocomp Oy hired 20 new employees – a really big amount in eastern Finland. Still, the challenge is to get more the research results and the university experts in the new ventures, Kakkonen told an example from his home region.

The people make the company

-I have met numerous start-up firms and their teams. The only thing which I am interested in is the people working for the venture. The World Bank has studied the success factors in different companies. The result is clear; 1/3 is based on the material and money, 2/3 is based on social and human capital. This is inevitable – you as start-up entrepreneurs are the most important asset. Be proud of it!

Mr Kyösti Kakkonen had his presentation in “Ovet Auki Kasvulle”-event in Aalto Start-Up Center on Wednesday 12th September. The event was 15 years' celebration of New Business Center-business incubator managed by Small Business Center. It is an independent unit in the Aalto School of Business.  

The same way we invested in our computers – not expensive, rather cheap ones. Our employees were students with a salary of 500 €uro per month. Our incentive to work was 250 €uros per month, CEO of Rovio, Mr Mikael Hed described the start of Rovio. “We had a Chinese coder and he gave a screen to the firm – 20 years old in 2004! It shined so strongly that we had to install a detector in front of it – but it worked.”

“We had really difficult and challenging times in 2008/2009. The bankruptcy was on the table but we managed. We decided to focus on mobile gaming and at the same time iPhone was born. Our success started but we learned that our company has to be more adaptive. Rovio’s only strategy has to be readiness to the change – and this is my suggestion for all companies. It is an ultimate requirement, CEO Hed emphasized.

“After all these years, the entrepreneurship is still very fun. It  always means to find something interesting and at the same time it is a learning process. It is really motivating, Mikael Hed described his experiences about being an entrepreneur.

CEO Mikael Hed gave Rovio’s congratulations to the New Business Center-business incubator for its 15-year’s work. The incubator has changed the name to Aalto Start-Up Center. “You do a very important work for young companies – go ahead strongly”, Hed ended his short but very interesting speech.    

Part of the scholarships will be especially allocated to doctoral thesis studies, in which the subject of study is growth entrepreneurship (e.g. growth strategies and the leadership of growth) and entrepreneurship climate (e.g. the impressiveness of entrepreneurship training and entrepreneurship culture).

The application period ends on Friday 28.9.2012 at 16.15.

The scholarship application forms can be asked for at the department and secretariat of one's own university or ordered from the address The Foundation of the Small Business Center, c/o Small Business Center, Lönnrotinkatu 7, 50100 Mikkeli. You can save an application form in rtf-format on your own computer also from here: application.rtf

More information from the representative of the foundation Pentti Mustalampi, 040 5038 820

http://www.aalto.fi/en/current/news/view/2012-06-28/

 -The entrepreneur needs some basic elements for creating his or her success. Firstly, he or she has to have good networks. And one has to build them up when times are good. Secondly, one has to make his or her work better today than yesterday. Especially, the entrepreneur can not do his services or products by “left hand”, with negligence. Thirdly, one has to take care of the network continuously. Without it, every contact becomes cool and it is better always to start the next meeting with people who you have left in the good feelings.   And finally, one has to rely on his or her skills, has to have good self-confidence. To be modest is not a fascinating feature for anyone, Kaarina Suonperä emphasized. 

Start your own business - experience helps!

Managing Director Matti Vanhanen, Perheyritysten liitto, encouraged the audience to consider the role of an entrepreneur. – You have some very essential features important to the entrepreneurs. You have seen many kinds of arrangements and stories in your working environments. You have good connections with many important partners and potential customers. And finally, in most cases you have much better financial circumstances than the youngsters starting their businesses.

Still remember to be careful with agreements you are doing in starting your ventures, Vanhanen presented the advantages the experienced people have. – The fact is that the working places in the future are in small and medium size companies. I have seen a study in the US and it clearly shows the development – the future is the entrepreneurs’, Matti Vanhanen continued. 

Our system is flexible

Professor Paula Kyrö from Aalto University School of Economics clarified the very versatile and flexible models the experienced people can use in the starting phase of their own firms. – In Finland, we have really plenty of possibilities to move forward in the path of the entrepreneurship. We publish our research in a few days and there are only two minor issues which have to modify. We suggest the corrections to the Finnish government very soon. There are three main ways to start your own companies. Firstly, you find a clear uncovered need in the market. Secondly, you test your idea and decide after getting some results if start or not. The third model is to start and evaluate and develop the service or product simultaneously with the marketing work. Every method works, professor Kyrö presented the main findings of their research.

Buy the existing company

Area Director Simo Poikola, Suomen yrityskaupat Oy, told some examples of how to start the entrepreneurship by buying an existing firm. – In most cases, this is less risky than start your own venture from zero, Poikola argued.

"Club E" for experienced people

Seppo Rantalainen, the facilitator of Aalto Protomo Helsinki, was really satisfied with the afternoon seminar. – The participants were really interested in hearing and seeing some concrete examples of the entrepreneurship. And we establish a “Klub E” for speeding and encouraging the starting phase of the experienced people’s companies. We start next autumn.

Dean Petri Varsta from Aalto University School of Engineering introduced the school. – We have about 3000 students and our school is about 15 % of Aalto University. One of our biggest challenges is ambitious enough in the technical science. We try to publish 150 peer reviewed articles in the best academic journals yearly. This is the very important target to us and it focused on our everyday work. We have to be good enough in the international competition, Dean Varsta summarized his schools future. – We are now in Design Factory, which is very famous and popular environment in the present life of Aalto University. We have established the place more than 20 years ago. So it has some history – maybe the present use is little different than earlier, Petri Varsta described the conference place.

Peter Tapio continued the story of the Design Factory. – There is a cool place for students and we have many activities here which focus is in addition to learning very business oriented. There are the people with good ideas and they have serious plans to establish new, very innovative companies.

A successful business needs failures

Director Will Cardwell from Aalto Centre for Entrepreneurship (ACE) continued about the meaning of the entrepreneurship in Aalto University. – We try to create the growth in the community of Aalto University. We have versatile tools supporting and pushing the new and innovative teams in their way to the serial businesses. Our vision is to be the best innovative growth business training program in Europe. And we are in this path just now. We have about 300 business proposals yearly and 10 – 15 % of them get our funding. It means 15 – 20 new start-up companies from the Aalto University and it is a remarkable achievement, Mr Cardwell emphasized the role of ACE.

– The other big issue in our work is to courage the innovators open their ideas. It is not typical of the Finns but if they open their ideas for colleagues and other students, they get real feedback and are able to improve their plans. And the failures are acceptable, too, Will Cardwell told. - Our concept works and there is a good example for the Russian universities.

A big incubator supports the Aalto University

Marika Paakkala introduced the Aalto Start-Up Center business incubator. – We are the essential part of the innovation system in Aalto University. We have about 80 young and brave companies in and all of them are seeking the growth, internationalization and a strong foothold in their markets. We focus on our training in their sales processes, sales content and in the first appointments with their real, potential customers. This is not the easy task, but necessary, Marika Paakkala introduced the role of the incubator in Aalto University innovation structure.

– And before all – we had a great success! We found about ten interested specialists who were keen on helping our teams in their business development. And more – our teams presented their starting businesses and they were really promising startups. All of us were enthusiastic, Ahtikoski and Rantalainen continued.

Finland needs more entrepreneurship

Director Pekka Pellinen from TEK has many tasks and memberships in the Finnish governmental and official groups thinking and planning the future of our country. – The entrepreneurship and tools like the Protomo-projects are very essential in growing new firms in Finland. The entrepreneurship is a vital and interesting alternative of many people’s future careers. Protomo is a big booster of business ideas and we are very happy to see the progress here in Aalto Protomo Helsinki. It has got a big interest in a few weeks, Pellinen summarized his message about the starting entrepreneurship.
– And our four presented cases were impressive examples of Pellinen’s taught.  We heard absolutely different business ideas and everyone is good enough in the markets. But this is very clear that they have to work really hard getting their positions in their potential customer’s life. The good thing is that they are ready for it, Seppo Rantalainen assured.  

New technical opening      

The event was streamed on the Internet and we had some audience outside the “stage”. We used three classrooms in this purpose and everyone could hear and see the program from their own seats. It worked quite well – we and our guests were satisfied. Of course as always, we found many things to improve the next time production but still – everything worked. Thanks to Aalto University technical people, Ahtikoski and Rantalainen said in one voice

 – We have had now two firms from Aalto Start-Up Center and in its ecosystem in foreign stages, one in Vilnius in March and Tribe Studios Ltd in London. Our aim is to increase the amount of Finnish start-ups in Seed Forum seminars. In the autumn we bring 2-4 companies in London and try to push the first ones in the United States and in Asia. Seed Forum is the only and very professional organizer of the international investor seminar especially for the young start-up companies. And in addition to these seminars we can offer the exceptional high quality training in Finland for those who are interested and ready seeking the foreign investments, Rantalainen continued.

EBRD finances the knowledge economy

- Knowledge economy is the key issue in the programs of European Bank of Reconstruction and Development. We have studied the problems in progressing the idea and EBRD offers 100.0 m€ funding for investments in young and newly established, knowledge intensive companies in the Eastern Europe. It is first time the bank establish the fund and its use is based on the co-operation with existing venture capital companies acting in the area, Mr Allain Pilloux, managing director Industry, Commerce and Agribusiness in the EBRD opened the London seminar in the very high level board room of the bank he is representing.

The City of London global finance centre 

-London is the real heart of the global finance industry. In our Square Mile, the core of London City, there are working more finance professionals than in Frankfurt, New York and Hong Kong together. This is the working environment of 1,3 people. We have here more than 300 different languages and huge amount of foreign banks. In addition to that in Square Mile we have over 16.000 small and medium size firms working in the financial industry. This is the place in the whole world and we are glad to have Seed Forum investor seminar just here, in the middle of the globe, Mr Nick Anstee proudly presented the City of London. He has been Lord Mayor City of London 2009-2010. – Our future looks bright. The industry is recovering from the depth crises and we are going to the growth, Mr Anstee ended his key-note speech and wished every company warmly welcome in the City of London.

Seed Forum is a part of the activities belonging to the Home Market project financed by the Central Baltic Interreg IV A-program. Aalto University Small Business Center is the Finnish partner in this project.

– Some days ago I had a speech in a high level meeting with foreign bankers and company leaders. I asked them four main issues they have in their minds about Russia. They listed corruption, vodka, bureaucracy and prostitution – absolutely the same topics we have almost everywhere. The audience did not mention the fact that Russia has been a member of the World Trade Organization (WTO) for three months. This is more relevant than those four everywhere existing features, Viljakainen continued. – We have layd Skolkovo Foundation like Tekes in Finland – all processes for new innovative firms are similar and their applications will be handled in the same timeline like Tekes use in Finland. Please, Russian markets are so close to us and now it is the time in going there, Viljakainen hurried the seminar participants up.

Nordea's high quality services to startups

Nordea hosted the very successful seminar and the Old Bank Hall is the most valuable place arranging events of this kind. Area Director Jussi Mekkonen emphasized the willingness of the bank to offer very good and solid service to their corporate customers including new startups.

New investor incentives

The Member of the Parliament Lasse Männistö from the National Coalition Party opened the very essential reforms the Finnish government decides in its budgetary frame meeting on Thursday. – The government wants to support growth companies and investors to find each other. Seminars like this Seed Forum can really be effective tools creating contacts and clarifying investment possibilities for both sides. The government offers new incentives to investors. As an example there are the tax reliefs when investors put their capitals in a new, unlisted firm. This will partly help young companies finding money in their growth efforts, Lasse Männistö explained the plans the Finnish society tries to offer to the newly established companies with interesting ideas.
The ambassador, HE Leidulv Namtvedt opened the Seed Forum Helsinki seminar and invited the whole audience in his residence in the evening reception.

Five Start-Up Center firms at the stage

After keynote session eight firms presented their very well practiced sales pitches for investors. Five Finnish companies were trained in Aalto Start-Up Center-incubator. In addition we had one firm from three different countries: Sweden, Norway and Latvia. – This was the first Seed Forum Seminar in Helsinki from 2008. The next one takes place in October and before it we have the very effective training program for companies willing to join the educational process of Seed Forum. The start was good with big audience and the interest in the autumn event is growing – we have already now several serious taken contacts waiting for the possibility. This is the only well planned training program focused on seeking investment in newly started companies, Seppo Rantalainen, the Seed Forum representative in Finland summarized the results of the seminar.

- When the firm has the picture of its activities on the canvas, they collect the information about its partners. After this stage, the firm has a clear idea about its business environment. The canvas is very colourful and it is easy to interpret the results. Naturally, the final result needs many thinking and yellow or other colour post-its on the canvas, but finally the firm has a reliable base writing their business plan for starting real business, Seppänen convinced the Protomo-people.

We start immediately

-Aalto Protomo Helsinki starts immediately the Business Model Canvas-use. – We implement the model in our everyday work with starting teams and start-ups, Laura Ahtikoski and Seppo Rantalainen told in one voice. – The model is simple enough and it is a very clear method clarifying the ideas and its business reality. There have to be some potential and easily foundable customer segments with the need which can be seen. Our own training takes place on Wednesday 18th April. The researcher Mervi Rajahonka and her colleague go through the model together with our Protomo-teams. And we do the first canvas round with them. In this way, they get a real clear example of the model use.