Tech type: Not tech-based

Buildit Latvia

Buildit Latvia is a hardware-focused accelerator in Riga, Latvia. They invest into many startups in their program. Among its usual benefits the program acts as a due diligence for both sides to see if it’s a good time to work together for a longer term and make and take the investment.

They invest €20-50k initially from their pre-seed fund on companies. They can later follow up with up to €250k with their seed fund. For the pre-seed investments, the teams need to incorporate in Latvia. At the seed stage, they don’t need to stay there. All the companies they take in have to be willing and able to move into Latvia.

They have a preference for B2B, but take in companies with all client types.

SCM Advisors

SCM Advisors is the UK-headquartered investment arm of the Ukrainian SCM conglomerate. SCM’s main industries are metals (especially steel), mining, and energy,. They also have a broad range of other investments e.g. in banking, retail and real estate.

They have a preference for B2B and data. About a third of their portfolio companies use AI or machine learning. They are interested in hardware investments too, especially on companies related to their group’s businesses. Health solutions like process automatization are interesting, but not pharmaceutical drugs.

They’re a co-investor, often the 2nd to 4th biggest investor on a round.

Frontier Growth Capital

Frontier Growth Capital company is the early stage angel investment company of Mikko Silventola, focusing on pre-seed or seed stage tech companies. The earlier the stage the better, and software is preferred.

Mikko has invested into three unicorns and many companies that are valued at over €100M. He can help opening doors, fundraising (incl. attracting strategic angels) and other crucial growth company tasks.

SET Ventures

SET Ventures focuses on early growth stage companies furthering the transition of the energy sector. Their customer and investor network and expertise in growing companies helps you be ready for scaling your business.

SET Ventures invests into companies doing smart energy solutions, mainly software and services. Hardware is ok as well, as long as the solution has a software or service component.

Companies have to have an impact on the energy system, furthering its transition. For example electric mobility solutions are relevant, but old-fashioned energy solutions would not be.

SET Ventures has excellent expertise in energy sector. “Many companies can skip through the first half of their presentation as we are already familiar with the basic problems and very well embedded in the whole European energy system.”

They’re looking at companies below €25M valuation pre-money (€30M post-money). The companies have to have the potential to be worth over €200M on exit.

SET Ventures seeks to hold a significant minority stake of typically 20% or more. typically takes an active board position but never sit on the management team. Fund lifetime is 10+2 years, they’re in it for the long haul (typically 4-7 years), not seeking to exit in a short time frame.

Contact to info@setventures.com goes to three people and they go through and respond to each case.

Elisa Finland Startup Partnerships

Elisa seeks startups to purchase innovations from as an early customer. They’re also seeking mature startups to acquire.

Their focus is on solutions that help them sell more connectivity solutions or additional services to their current customers. E.g. automation, industry 4.0, health care, entertainment, smart homes etc.

They’re happy to connect with startups that are interested in Finnish or Nordic-Baltic market.

Jätkäsaari Mobility Lab

Jätkäsaari Mobility Lab offers ways to pilot solutions in real-life city context in Helsinki, Finland. Their sweet spot is solutions that are ready to be tested, but they’re happy to discuss also with idea stage projects to see about future collaboration potential. The solutions should be related to safe and sustainable smart mobility.

They have 1-2 agile piloting calls per year, but also ongoing applications, so feel free to contact them any time.

The most recent call is open until 18.8.2020 with a maximum cost of one agile pilot being €15 000.

Redstone

Redstone has six funds and 50 CVC partners. Their funds and sectors are listed in https://www.redstone.vc/sector-funds/. They are especially interested in industry 4.0, fintech, proptech, mobility, bio materials & agrotech.

Finnish Business Angels Network (FIBAN)

One of the largest business angel networks in the world with 650 members.

Ticket range of most angels is €5-100k, median ticket size is €20k. Syndicates may invest up to €1M. Median syndicate size is €200k.

 

Smart Chemistry Park

Smart Chemistry Park is the bio and circular economy startup and innovation hub of Turku Science Park. They offer premises and infrastructure for chemistry-related startups and a network of innovators. They’re a part of the wider Clean Turku network.

Their infrastructure helps mostly startups with a a need for laboratory facilities and physical piloting, but digital-only solutions are also welcome to the network. The premises are suitable also for many pharmaceutical development projects.

 

UIA Hope

Forum Virium’s UIA Hope competition offers piloting opportunities for air quality related startups. The competition has over €200k budgeted for helping small companies pilot their air quality solutions. Piloting budgets are €5k – €40k per company depending on the track (available on their website).

Even the smallest companies can participate and offer their pilot projects for experimentation, but there needs to be a company registered in Finland by the time the pilot starts.

The solutions can be virtual or practical; hardware, software or other solutions. It has to be implementable, not completely abstract. Solution has to relate to digitality, but does not need to be completely digital.

The pilot offer can be sent in English and can be done as a PowerPoint or similar. The information on the competition itself is currently available only in Finnish, but can be translated to English upon first request. General information of the UIA Hope program is in English.