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Startup sauna overview


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Startup Sauna connects the most promising startups from Northern Europe and Russia with experienced serial entrepreneurs, investors and media from around the world. …

Startup Sauna connects the most promising startups from Northern Europe and Russia with experienced serial entrepreneurs, investors and media from around the world.

In practice, Startup Sauna consists of three different operations:

1) an internship program for university graduates to intern at high-growth companies in Helsinki and Silicon Valley. More than 100 interns have been employed through the program to date

2) an accelerator program for early-stage startups from Northern Europe and Russia, where the startups get coached by experienced serial entrepreneurs and investors in an intense one-month program in Helsinki. More than 90 companies have graduated from the program since 2010

3) the SLUSH conference, which brings together the early-stage startup ecosystem in the region to meet top-tier venture capitalists and media from around the world. In 2012, SLUSH gathered more than 3.500 attendees, 550 companies and 250 investors and journalists for two days in Helsinki

Startup Sauna is physically located in its own co-working space found on Aalto University's campus in Espoo, Finland, which is where many of the events and programs also take place.

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  • 1. How Startup Sauna changes the Finnish startup ecosystem • Empowering talent. Startup Sauna internship program has employed 100 interns to high-growth companies in Helsinki, Europe and the US. • Building quality startups. Startup Sauna pre-seed program has coached more than 500 companies and graduated a total of 90 companies in 2010-2013 • Building dealflow. Slush has become one of the leading startup events in Europe with more than 300 investors and 50 international VC funds in 2012.
  • 2. Startup Sauna Internship We created Startup Life to help the brightest students at Aalto to reach their full potential. - Kristo Ovaska, co-founder of Startup Life
  • 3. Startup Sauna Internship • Startup Sauna internship (incl. Startup Life) employs the most talented university students, researchers and post-graduates in international high- growth startups. • There’s an ongoing application period to intern at companies in Helsinki, Silicon Valley and New York with over 150 positions currently open. • More than 100 interns have been employed to date, around half of which in Finland and the other half mostly in the US.
  • 4. Startup Life Demographics 2011-1/2013 Aalto University 42% School of Science 23% School of Business 8% School of Engineering 23% School of Art and Design 54% technical 27% business 19% designers
  • 5. Startup Sauna Internship Impact 2011-1/2013 27%  80% previous startup experience working at startups 6 months after the internship 6 companies founded by alumni, Incl. Kippt, HealthPuzzle and Caktus
  • 6. Startup Sauna program
  • 7. How does the Startup Sauna program work • Startup Sauna organizes 10-15 local coaching events every spring and fall to map out the deal flow in Northern Europe and Russia, driving applications to the program. • Following the local events, 20 most promising startups are invited to Helsinki to get coached by experienced serial entrepreneurs and investors. • Each program contains a closed investor event, where the companies are set up in one-on-ones with local angel investors and international VCs to gather feedback. • Slush is organised every fall to attract a larger pool of international VCs and media to the region, as the competition for their attention is tight on a European level. • After each program, 10 most relevant companies are taken to Silicon Valley to meet with the local investors
  • 8. • Main focus in the Nordics, Baltics and Russia • In addition, local events focused on promoting the region, organized also in New York, Los Angeles, San Francisco, Beijin, Shanghai and Tokyo Startup Sauna tour 2013
  • 9. 2 Months 1 Month 1.5 Months 0.5 Month Local coaching events in 10-15 different cities Intensive part for 20-30 most promising startups Investor meetings in Silicon Valley Best 10-20 get 40K option and continue Investor day in the end of the program How does the Startup Sauna program work
  • 10. 1400 applied 500 coached 100 admitted 90 graduated ( 20M raised) Key performance indicators 2010-2013
  • 11. Key performance indicators 2010-2013 • Since 2010, Startup Sauna has run seven batches, attracting a total of 1041 applications. 90 companies have graduated, raising over 20M in funding. • More than 50 local events have been organised in 18 different cities, providing one-day coaching to 500 companies. • These activities have received significant coverage in both domestic and international media, including the likes of WSJ, The Economist and BBC. • Startup Sauna has been noted as the leading young accelerator program in Silicon Valley by UBI Index (June, 2013).
  • 12. Startup Sauna Leading Young Incubator
  • 13. Slush Conference
  • 14. Key performance indicators 2008-2012 • Years 2008-2010: 300-500 attendees, 20-40 local startups, local angel investors and VCs, mostly no media nor international investors • Year 2011: 1500 attendees, 150 mostly local startups, 15 foreign venture funds, Finnish media well present, small coverage in international media • Year 2012: 3500 attendees, 560 startups, 41 foreign venture funds, 50-60 articles on international media, around 40-50% international companies • Year 2013: 5000 attendees, 1000 startups, 100 foreign venture funds, 200- 300 articles on international media, 70% international companies
  • 15. press.