Finland has emerged as a hotspot for innovation and entrepreneurial endeavors in recent years, attracting global recognition for its vibrant startup ecosystem. Finland has become a sought-after destination for aspiring entrepreneurs with its unique blend of tech-savvy talent, access to funding, and supportive government initiatives. While neighboring Sweden has long been in the spotlight for its startup scene, Finland is now making its mark, boasting a plethora of top-tier startup accelerators and incubators.
Having already discussed the top Venture capital funds operating in Finland, In this article, we’ll delve into the thriving Finnish startup landscape, highlighting the key accelerators and incubators that nurture and empower early-stage companies.
XEdu
The very first on our list is xEdu, Europe's foremost edtech startup accelerator which takes pride in nurturing innovative ventures that create educational solutions with profound pedagogical impact. Offering comprehensive support ranging from product development to market entry and international expansion, xEdu catalyzes the growth of promising startups. xEdu boasts an impressive track record, having accelerated 80 companies from 18 different countries.
xEdu conducts two acceleration programs per year, namely the Spring program (March to June) and the Fall program (September to December), allowing ed-tech startups to rapidly progress and scale. For teams that are not yet prepared for the rigorous demands of the acceleration program—such as those without an established company, a prototype, or team members with essential skills—xEdu offers an incubation pathway.
Business Finland
Business Finland, a public organization operating under the Finnish Ministry of Employment and the Economy, stands as a prominent force in fostering trade, tourism, and foreign investment within Finland’s vibrant entrepreneurial landscape. Since its inception on January 1, 2018, this esteemed entity has strived to entice international investors while nourishing innovation through its multifaceted funding initiatives. Notably, Business Finland extends its financial support not only to pioneering start-up enterprises through the Young Innovative Company funding program but also to groundbreaking space research endeavors under the New Space Economy program. As the government’s designated purveyor of innovation funding, internationalization, and tourism development services, Business Finland holds paramount significance in propelling Finland’s technological advancement and economic growth.
Gorilla Ventures
Gorilla Ventures, a Helsinki-based startup accelerator and seed fund founded by Petri Lehmuskoski, Reijo Syrjäläinen, Risto Rautakorpi, and Timo Tiihonen, operates as an angel fund primarily catering to Finnish startups at the seed stage. Annually, the organization extends financial support to approximately 10 to 15 early-stage Finnish startups.
In addition to providing seed funding, Gorilla Ventures Oy offers invaluable guidance and assistance to startups navigating through critical milestones. The accelerator specializes in addressing high-impact scenarios such as achieving product-market fit, formulating effective strategies, securing funding, devising go-to-market approaches, fostering customer development, and facilitating international expansion, among other crucial areas.
First Round
First Round Ltd. is an esteemed private development company and business accelerator that excels in assisting startups and other enterprises in accelerating their business operations and pursuing growth financing. With a strong focus on the digital realm and leveraging digital skills to foster innovative ventures, their team of experts offers specialized expertise in creating new business opportunities. Through their comprehensive accelerator program, they engage in a collaborative partnership with companies to meticulously outline detailed plans and actionable strategies for achieving growth objectives. They extend their support in securing initial-phase funding, developing market-ready products, acquiring initial customers, and exploring optimal avenues for expansion into international markets in exchange for a monthly fee along with a modest commission tied to the actual growth attained.
ÄÄKKÖSET OY
ÄÄKKÖSET OY, also known as The Scandinavian ABC company, is a startup accelerator based in Oulu, Finland. It was founded on October 7, 2016, by Jani Kenttälä and Joachim Viide. The accelerator is committed to investing in inspiring innovations led by ambitious entrepreneurs. Their mission is to accelerate the productization process and enable these innovations to make a global impact. The accelerator provides the necessary resources and support for startups to scale and meet the growing demands of the market.
Nordic XR Startups
Nordic XR Startups, based in Helsinki, Finland, is a prominent accelerator that specializes in nurturing technology startups operating in the augmented reality and virtual reality sectors. The accelerator’s program spans six months, offering an ideal platform for Finland-based startups to refine their products and services with the aid of Nordic XR Startups’ extensive resources and guidance.
The accelerator follows a batch-based structure, allowing participating teams to collaborate and learn from each other throughout the program. It provides a conducive environment for startups to enhance their offerings by leveraging the assistance of experienced mentors, investor networks, and VR/AR technology specialists.
Kiuas
Kiuas offers two distinct programs: the Kiuas Start, a 4-week program, and the Kiuas Accelerator, an 8-week program. Kiuas offers a virtual experience that encompasses personalized 1-on-1 mentoring, intensive work sessions, invaluable perks, and a supportive community. It aims to propel your venture into the market, amplify product and sales scaling, and elevate your overall progress. Over the last decade, Kiuas has been an early advocate for some of Finland's and the Nordics’ most notable startups, cementing its position as a trusted supporter. Having organized 25+ programs to date, they have nurtured a community of 250+ alumni startups, collectively raising over €30M. As a leading startup accelerator, Kiuas equips entrepreneurs with indispensable business tools and resources vital for achieving success in the industry and propelling their ventures to new heights.
EnergySpin
Driven by a high concentration of energy growth companies and a closely-knit network of industry experts, EnergySpin emerged as an innovative platform for sharing ideas and trends. Over time, it evolved into a comprehensive multi-corporate accelerator program, dedicated to supporting the growth of startups and enabling them to challenge the status quo of the industry. EnergySpin warmly welcomes all startup companies operating in the energy sector, as well as those in fields linked to energy, such as digitalization, IoT, cybersecurity, and gamification in its 8 weeks acceleration program. The accelerator assists these startups in refining their business models, preparing for crucial meetings with corporates and investors, and guiding them to carve a niche in the market.
Venture Gym
Located in Kotka, Finland, Venture Gym is a prominent startup accelerator that focuses on a diverse range of industries, including Mobile & Video Games, Healthcare, Renewable Energy, Fintech, and ICT Business Solutions. With its comprehensive business accelerator program, Venture Gym plays a pivotal role in connecting startups with the outside world, enabling them to thrive in their respective markets.
At Venture Gym, startups receive a holistic support system aimed at strengthening their foundations and propelling their growth. This encompasses various elements such as training, financial services, and invaluable networking opportunities with industry experts. Through these connections, startups gain access to a wealth of knowledge and resources, accelerating their development and enhancing their business management capabilities.
ESA BIC
The ESA Business Incubation Center (ESA BIC) operates a dynamic business program tailored to propel early-stage startups from the ground level to the extraordinary heights of the space industry. This program welcomes researchers and founders with pioneering ideas in the realm of space technology.
The primary objective of this business incubation initiative is to foster the financial and technical growth of aspiring entrepreneurs and startups while uncovering the vast potential of the space sector. Participants fortunate enough to join this program will benefit from a comprehensive range of support mechanisms. These include funding opportunities of up to EUR 75K, invaluable technical business support, an infusion of business and market knowledge, expert guidance, access to state-of-the-art laboratories and facilities, and a platform for extensive networking with potential partners and investors.
Health Incubator Helsinki
Health Incubator Helsinki is a dynamic three-year program designed for research-based health sector teams and startups. Launched in 2019 by the City of Helsinki and the University of Helsinki, its mission is to foster the conversion of health innovation, research findings, and expertise into thriving international businesses while attracting fresh talent and companies to Helsinki, Finland. As part of the broader health ecosystem in the Helsinki capital region, Health Incubator Helsinki collaborates closely with Health Capital Helsinki and benefits from a vast network of industry experts, entrepreneurs, and investors. Participants enjoy tailored coaching, mentoring, access to comprehensive services, and state-of-the-art office facilities in Helsinki. With a focus on diagnostics, pharmaceuticals, medical devices, life sciences, and related digital and deep tech solutions, the program welcomes early-stage teams and startups with at least two founders, a well-defined problem-solving approach, innovative technology, scalability, and a potential for global success. Office space is available for a minor fee, while all other incubator services are free, without any equity stake claimed by the incubator.
Red Brick Accelerator
Red Brick Accelerator is a dynamic business program designed to propel early-stage startups toward success. Through comprehensive mentorship and business coaching, they empower entrepreneurs to transform their ideas into thriving ventures. Their flagship offering is a rigorous 10-week coaching program that guides startups toward product/market fit, facilitating their journey to secure revenue and investments. Seasoned industry professionals lead high-quality workshops and mentoring sessions, culminating in a prestigious “Demo Day” event where teams showcase their concepts to potential investors. For teams in the ideation phase, the accelerator offers the Red Brick Pre-accelerator, a condensed 3-week program featuring workshops, peer support, and immersive experiences to kickstart their entrepreneurial journey.
Mutiny
Mutiny, organized by Helsinki Think Company, stands out as a notable accelerator that focuses on addressing substantial real-world challenges by fostering a dynamic community of change-makers from diverse disciplinary backgrounds. This intensive 6-week idea accelerator offers participants a series of weekly workshops where they actively engage in refining their business plans and taking decisive steps towards success. These workshops are expertly led by professionals from various fields, covering essential aspects ranging from branding and sales to pitching and optimizing their business models.
The climax of the program materializes in a grand finale, where teams have the opportunity to present their work and pitch their ideas in front of a captivated audience. Esteemed judges evaluate the concepts presented, ultimately selecting the team with the most impressive and impactful concept as the winner.
Central Finland Growth Accelerator
Venture Development Finland's Central Finland Growth Accelerator has been propelling startups toward success since 2015. Each year, this program carefully selects five growth companies and ten startups to participate. Upon entry, companies receive personalized guidance tailored to their development phase and specific needs.
The program commences with the creation of an individual growth plan for each company, mapping out the necessary actions for their growth path. Throughout the implementation phase, Venture Development Finland offers an array of services encompassing sales development, customer acquisition, investment applications, breakthroughs, and international sales launches.
With a duration of 12-24 months, the Growth Accelerator also includes a pre-Accelerator program spanning 6-12 months. Its primary objective is to double company revenues, while concurrently focusing on enhancing profitability, strengthening financial standing, fostering operational competence, promoting internationalization, and augmenting overall company value.
Helsinki XR Center
HXRC, or Helsinki XR Center, operates an incubation program that is designed to assist VR/AR ventures in the industry. The program consists of two stages to foster early-stage companies: A three-month trial period focuses on refining the central vision into a tangible demo. This phase tests the team’s ability to deliver concrete outcomes and assesses their determination. And continuation periods of three months each form the subsequent 12 months, where a roadmap and development path are collaboratively established. Regular check-ins occur every three months to monitor progress, set deadlines, and allow for necessary adjustments, learning, and experimentation.
As a member of HXRC Developer Hub, you gain access to various amenities, including co-working spaces, meeting rooms, cutting-edge headsets, hardware, co-learning opportunities, mentorship, networking events, and the impressive HXRC Showroom—an immersive demo space. These offerings are provided free of charge, and the participants retain complete ownership of their company and products.
Business Oulu
Business Oulu is a startup incubator program is designed to guide and support aspiring entrepreneurs within Oulu’s industrial ecosystem. This comprehensive one-year program assists startups in developing robust business models and plans, securing financing, and exploring export opportunities. Participants benefit from invaluable coaching, mentorship, and access to innovative business services. The program also facilitates ownership and investment prospects while granting access to exclusive business programs and events. Business Oulu goes the extra mile by offering practical solutions to common business challenges, aiding in the creation of minimum viable products, conducting customer development, achieving product-market fit, and providing dedicated working spaces for startups to thrive.
Want to discover more accelerators and incubators from other countries? Check out the list below.
Top Accelerators and Incubators from:
- Round-up Of The Best Accelerators In The CEE Region
- Albania
- Austria
- Belgium
- Bulgaria
- Croatia
- Cyprus
- Czech Republic
- Denmark
- Estonia
- France
- Germany
- Greece
- Hungary
- Ireland
- Italy
- Latvia
- Lithuania
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- Slovakia
- Slovenia
- Spain
- Switzerland
- Türkiye
- Ukraine
- United Kingdom
- Western Balkans.
Related Posts:
Best Startup Accelerators And Incubators In Sweden (by Paweł Pliszka, Editor, Vestbee)
Best Startup Accelerators And Incubators In Switzerland (by Katarzyna Groszkowska, Editor, Vestbee)
Best Startup Accelerators And Incubators In Denmark (by Katarzyna Groszkowska, Editor, Vestbee)
