On the 13th of December, Innovestor PALO 2023 concluded with the spotlight on batch 2023, MAJ Works, Granulous, HTM Solutions, Frendie, Bout and Make a BIM, delivering their final pitches to a room full of investors. The atmosphere buzzed with excitement, marking the end of eight weeks of dedicated effort and transformation.
From the kickoff day in October to the Deal Day in December, the evolution was obvious. Ideas were sharpened, and pitches had gained a refined polish.
Positive feedback resonated among all program participants, expressing satisfaction with the help, knowledge and connections gained. The benefits ranged from crucial corporate contacts and hands-on, seasoned advisors to invaluable support from peers navigating similar challenges.
“The program pushed us to progress rapidly and really helped us find our focus. The network and peer support were invaluable,” Arla Joensuu, Co-Founder of Frendie, summarized their PALO experience.
Krista Huhtala-Jenks, CEO and Co-Founder of MAJ Works, added, “The hands-on, experienced advisors really helped. Also, all VCs claim to be on the side of founders, but I felt it genuinely holds true with Innovestor.“
Juho Niemi, Business Developer from HTM Solutions, echoed earlier comments, describing the program as “perfectly suited for the stage we are in,” emphasizing timely assistance for current issues. “It was a good group size with an intimate atmosphere and collaborative spirit. Help was always available,” he added.
Shifting gears to the investor’s perspective, Markku Kosonen, a CEO attending the event as a potential investor expressed positive surprise at the startup standard: “I wasn’t quite sure what to expect, I have to say I am surprised by the level, the standard actually exceeded my expectations,” he concluded his thoughts about the startups presenting on the day.
The Deal Day also extended beyond the latest batch of startups. Two PALO participants from the 2022 batch, IKI Carbon and The Warming Surfaces Company, presented pitches seeking funds for their upcoming rounds. Additionally, attendees got a sneak peek into the future with a presentation from Ninyes, set to join the 2024 program.
The success stories from the 2022 batch also solidify the program’s impact. 50% of the 2022 companies have secured additional funding totaling €3M. Average valuations have also soared 2.5 times, and five new venture client cases have been born out of the program.
As the program continues to gain traction in the Finnish startup landscape, we can’t wait to witness the ongoing progress of all our old and new PALO family members.