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  1. 1. The Vigo Accelerator Program Companies
  2. 2. What is Vigo? <ul><li>Vigo is a new investor driven business accelerator program striving to combine </li></ul><ul><ul><li>the most potential start-ups, </li></ul></ul><ul><ul><li>experienced business developers and </li></ul></ul><ul><ul><li>early stage public financing and incentives </li></ul></ul><ul><li>to increase the number of successful growth companies and improve availability of private capital and financing expertise in Finland. </li></ul>
  3. 3. Targets <ul><li>Create investor driven business accelerators to improve the investment attractiveness of early growth companies. </li></ul><ul><li>Attract - using public sector incentives - the best business developers to drive start-ups into growth companies and ensure them growth financing. </li></ul><ul><li>Speed up and enhance the venture capital market in Finland and attract international accelerators and investment companies to establish operations in Finland. </li></ul>
  4. 4. Vigo Positioning <ul><li>Aimed at young (<6 years) growth companies that: </li></ul><ul><ul><li>have an innovative business idea with international potential </li></ul></ul><ul><ul><li>are applying for external investment </li></ul></ul><ul><ul><li>are willing to reinforce their team </li></ul></ul>Seed Expansion Time span of 3 to 7 years Early growth Start up Vigo focus
  5. 5. The Vigo approach <ul><li>Vigo accelerators </li></ul><ul><ul><li>Vigo accelerators are companies formed by highly experienced business developers (accelerator managers), that offer comprehensive business development and funding for innovative growth companies </li></ul></ul><ul><ul><li>Accelerator guides its clients throughout their development, and assists them in performing the required phases at the right time and at the highest level and quality, adding to the company's value and chances of success </li></ul></ul><ul><ul><li>The accelerators are chosen by tendering independent operators </li></ul></ul>
  6. 6. What does the Vigo accelerator offer? <ul><li>Know how and experience </li></ul><ul><ul><li>Management assistance and business consultancy to ensure the highest potential for profitability. </li></ul></ul><ul><li>Funding </li></ul><ul><ul><li>Investment 15 000 – 50 000 euros </li></ul></ul><ul><ul><li>Contacts and the ability to ensure growth financing </li></ul></ul><ul><li>Network </li></ul><ul><ul><li>Clients, investors and partners </li></ul></ul><ul><li>Risk sharing </li></ul><ul><ul><li>Business, financial and image </li></ul></ul><ul><li>Other </li></ul><ul><ul><li>Speeded handling in Tekes’s and Veraventure’s investment process </li></ul></ul>
  7. 7. How? <ul><li>The company applies directly to the accelerator of its choice. </li></ul><ul><li>Acceptance into the Accelerator program will be based upon the Accelerators evaluation of the company’s business idea, team and general suitability for the program. </li></ul><ul><li>The accelerator invests time and money and becomes a shareholder in the company </li></ul><ul><li>The accelerator managers takes an active role in business mentoring on an operative level </li></ul><ul><li>Accelerator’s revenue model </li></ul><ul><ul><li>The accelerator’s revenue model is based on the growth in the company’s value at point of exit and monthly fees. The companies are able to use Tekes’s YIC-funding for monthly fees. </li></ul></ul>
  8. 8. 24.3.2010 Pertti Presentaatio Public Funding
  9. 9. Public funding <ul><li>The program’s public funding is granted by Tekes and Veraventure, using existing funding instruments </li></ul><ul><li>The companies should meet the terms for normal public funding </li></ul><ul><li>Tekes and Veraventure co-operate in the funding completion, but grant funding independently with a speeded process </li></ul><ul><li>Funding can reach 1,6–2,2 mil. euros per company </li></ul><ul><li>Companies can apply also for Finnvera’s loans and assurances </li></ul>
  10. 10. Tekes support <ul><li>Tekes supports companies during the 18–24 month growth period using the YIC financing scheme for young and innovative growth companies and R&D-funding </li></ul><ul><li>YIC-funding terms for companies: </li></ul><ul><ul><li>Operating for max 6 years </li></ul></ul><ul><ul><li>Small, under 50 persons and </li></ul></ul><ul><ul><li>Must indicate innovativeness (min 15% of all costs R&D-related ((if operational history)) </li></ul></ul><ul><li>YIC-funding may be granted up to a million euros per company. Funding is divided in phases. </li></ul><ul><li>Companies pay a fee to the accelerators for services they require, YIC-funding may be used for this payment. </li></ul>
  11. 11. Veraventure investment <ul><li>Veraventure provides assistance in evaluating and invests in the companies. </li></ul><ul><li>Investments from ”Aloitusrahasto Vera Oy” (Avera) </li></ul><ul><ul><li>1.round investments up to 500 000 euros </li></ul></ul><ul><ul><ul><li>The investment in most cases depends on Tekes’s YIC-decision </li></ul></ul></ul><ul><li>The accelerator companies also have access to Veraventure’s business angel network </li></ul>
  12. 12. Finnvera financial instruments <ul><li>Loans </li></ul><ul><ul><li>Working capital loans are intended for newly established and existing enterprises to finance investments and to provide working capital needed because of growth. </li></ul></ul><ul><ul><li>Entrepreneur loans can be used to finance investments in the share capital of a limited company and/or in the fund of invested unrestricted shareholder’s equity, or to finance investments in a partnership or a limited partnership. </li></ul></ul><ul><li>Assurances </li></ul><ul><ul><li>Assurance from banks, investment- or insurance companies for loans and other liabilty bonds </li></ul></ul><ul><ul><li>Financing investments and/or working capital and business- or corporate acquisition </li></ul></ul>
  13. 13. 24.3.2010 Pertti Presentaatio Accelerators
  14. 14. Vigo accelerators Accelerator Focus Clean Tech Investment Cleantech innovations Food Process Innovations Grocery innovations Koppi Catch ICT, web, mobile business solutions Lifeline Ventures Life sciences and telecommunications Lots Media technology Veturi Venture Accelerator <ul><ul><li>B2B ICT </li></ul></ul>
  15. 15. Cleantech Invest <ul><li>Cleantech Invest is a startup accelerator and seed fund focusing on early stage clean tech ventures. The new accelerator will provide funding for early stage ventures and create growth stories by combining clean tech expertise, industrial experience and capital. </li></ul><ul><li>Cleantech Invest Oy Annankatu 25 00100 Helsinki Finland </li></ul><ul><li>Managers: </li></ul><ul><ul><li>Ismo Rautiainen </li></ul></ul><ul><ul><li>Timo Linnainmaa </li></ul></ul><ul><ul><li>Lassi Noponen </li></ul></ul><ul><ul><li>Tarja Teppo </li></ul></ul>
  16. 16. Food Process Innovations <ul><li>Food Process Innovations Ltd. accelerates human nutrition related innovations and businesses with intellectual property edge. FPI offering combines versatile food industry business expertise with scientific research, innovations, consumer and customer marketing as well as utilizing immaterial property rights. </li></ul><ul><li>Food Process Innovations Oy </li></ul><ul><li>Tehtaankatu 27 A </li></ul><ul><li>00150 Helsinki </li></ul><ul><li>[email_address] </li></ul><ul><li>Managers: </li></ul><ul><ul><li>Marko Saapunki </li></ul></ul><ul><ul><li>Minna Isotupa </li></ul></ul><ul><ul><li>Harry Salonaho </li></ul></ul><ul><ul><li>Seppo Paatelainen </li></ul></ul><ul><ul><li>Heikki Järvensivu </li></ul></ul><ul><ul><li>Antti Kosunen </li></ul></ul><ul><ul><li>Reijo Vihko </li></ul></ul>
  17. 17. Koppi Catch <ul><li>KoppiCatch focuses in early stage ventures with hard-core idea/innovation (while the strategy may still need attention), where our team can add value by concrete co-working. We also seek for opportunities within established businesses, where a strategic change is needed and disruptive business models can make a difference and enable scalable business. </li></ul><ul><li>KoppiCatch Oy </li></ul><ul><li>Yrjönkatu 23 A </li></ul><ul><li>00100 Helsinki </li></ul><ul><li>Managers </li></ul><ul><ul><li>Harry Santamäki </li></ul></ul><ul><ul><li>Inka Mero </li></ul></ul>
  18. 18. Lifeline Ventures <ul><li>Founded by experienced serial entrepreneurs, Lifeline Ventures is a startup accelerator that focuses on life sciences and telecommunications. Lifeline Ventures co-creates international growth companies by working side-by-side with the startup core team. </li></ul><ul><li>Lifeline Ventures Oy </li></ul><ul><li>Aleksanterinkatu 17 </li></ul><ul><li>00100 Helsinki </li></ul><ul><li> </li></ul><ul><li>Managers: </li></ul><ul><ul><li>Timo Ahopelto </li></ul></ul><ul><ul><li>Jarkko Joki-Tokola </li></ul></ul><ul><ul><li>Petteri Koponen </li></ul></ul>
  19. 19. Lots <ul><li>Lots is the Finnish expert in commercializing media technology products and services. For example gaming, graphics technology, user interfaces, and all digital content creation are media technologies. </li></ul><ul><li>LOTS Ltd Bulevardi 1 FI 00100 Helsinki Finland [email_address] </li></ul><ul><li>Managers </li></ul><ul><ul><li>Ville Miettinen </li></ul></ul><ul><ul><li>Panu Wilska </li></ul></ul><ul><ul><li>Harri Holopainen </li></ul></ul>
  20. 20. Veturi Venture Partners <ul><li>Veturi is a venture accelerator that helps entrepreneurs turn innovative ideas into growth businesses. Veturi focuses on innovation-based B2B ICT or ICT enabled growth businesses. </li></ul><ul><li>Veturi Venture Accelerator Betonimiehenkuja 5 (Design Factory) 02150 Espoo [email_address] </li></ul><ul><li>Managers: </li></ul><ul><ul><li>Jussi Harvela </li></ul></ul><ul><ul><li>Moaffak Ahmed </li></ul></ul>
  21. 21. More information <ul><li>PROFict Partners Oy </li></ul><ul><ul><li>Seppo Ruotsalainen [email_address] </li></ul></ul><ul><ul><li>Marit Tuominen [email_address] </li></ul></ul><ul><li>Veraventure </li></ul><ul><ul><li>Keith Bonnici </li></ul></ul><ul><ul><li>[email_address] </li></ul></ul><ul><li>Tekes </li></ul><ul><ul><li>Liisa Rosi [email_address] </li></ul></ul>