Innovestor's new half-million-euro program connects circular economy start-ups and large companies: Ten business ideas to accelerate and grow your business

Finnish investment company Innovestor is launching a new acceleration program for early-stage companies focused on the circular economy and sustainable development.

10 companies with a business idea with growth potential will be selected for the program.

The program offers start-ups a total funding pool of half a million euros to launch their businesses, 50 euros each.

Valuable contacts

What is unique about the program is that in addition to initial funding, the ten selected companies also receive support, advice, and valuable contacts to refine their business concept for further funding and subsequent investment rounds.

Start-ups will partner with leading Finnish corporations.

Through its Corporate Venturing activities, Innovestor has a network of approximately three hundred corporations, from which the most suitable partners are identified based on the start-ups selected for the program.

The program involves several large Finnish companies such as Kemira, Neste, Fortum and Metsä Spring.

In addition, companies will be mentored by experienced entrepreneurs, CEOs and experts from Innovestor and partner companies. The five key mentors are: Ilkka Kaikuvuo, Piia Maaranen, Pasi Pohjola, Alex Rautavuori and Aki Rowing Island.

Revolutionizing traditional models

"Early-stage companies often have a great business idea with potential for growth, but lack resources such as money, people and partners. That's why we are now launching a new type of acceleration program so that start-ups get good support to launch their businesses and commercialize their ideas," Innovestor's Director of Communications and Marketing Heli Mehtätalo-Takala background.

Support is particularly necessary for circular economy businesses, which challenge and revolutionize traditional business models.

Innovestor has experience in bringing together large companies and start-ups.

“We match corporations and start-ups right from the start so that companies have good opportunities to get pilot projects and collaboration assistance in their customer acquisition.”

The search begins now.

Start-ups can apply to the program during June. Ten applicants will be selected. The program starts in September and continues until December.

"Over the course of three months, all opportunities will be built so that companies can continue on the path of growth," Mehtätalo-Takala summarizes.

All types of early-stage companies related to sustainable development and the circular economy are eligible to apply.

Ideally, the program would include ideas from each of the five circular economy business models: product as a service, renewability, extending the product life cycle, shared consumption, and wise use of resources and efficient recycling.

The program culminates in a demo day, when entrepreneurs get to pitch their refined business idea to investors.

Applications for the Palo acceleration program can be submitted by the end of June. Innovestor's website through the application form.

Text: Elina Saarinen/ Uusiouutiset-magazine

Image: Adobe Stock. A startup idea can revolutionize a linear business model.