Innovestor

Palo

Grow to make an impact.

WHAT IS INNOVESTOR PALO?

  • The program

    PALO is Innovestor’s accelerator program for the most promising early-stage sustainable technology startups.

    Over the 12-week program, you will have the opportunity to connect with like-minded founders, tap into expert mentorship, and access invaluable resources to turn your sustainable tech concept into a thriving business.

    The three months will culminate in a Deal Day, where the companies pitch their refined ideas to a group of investors.

    What makes PALO unique?
    Participating in a VC-run program offers considerable benefits to the participants regarding resources, expertise, guidance, and network. Innovestor also invests €75K in each participant.

    Focus
    The program focuses on creating a growth strategy with the support of our experienced advisors and corporate partners. As a new element in 2023, we will now also provide support in creating an ESG strategy for all the participants.

    Beyond the program
    PALO doesn’t stop after the 12-week program. Having attended the program the startups are part of the PALO family with continued support from not only Innovestor but the wider PALO community.

    Who should apply?
    Are you a visionary entrepreneur wanting to revolutionize the world with your sustainable tech innovation? Whether you already have a prototype or are just beginning to explore your idea, PALO is tailored to bring your idea to life, and we would love to hear from you!

  • Funding

    The selected startups receive an initial program investment of €75K with an opportunity for additional investment later. This way our interest is closely aligned with the startups, and there is a stronger emphasis on commercialization.

  • Testimonials

    PALO 2022 results in a nutshell
    The feedback from the first round of PALO was very positive; the overall grade for the program given by the participants was 4.6/5. Over 40 meetings with relevant corporates were arranged through the program and there are currently five corporate pilots in the works. Four out of the eight participant startups have also already received follow-on investments after the program.

    The Warming Surfaces Company

    • New heating technology, which allows different surfaces and fabrics to be transformed into heat-producing elements
    • Technology developed in VTT


    ”I was skeptical at first, but during the first meeting, I realized PALO was something different. It was love at first sight with Innovestor, and after the program, we are still in love. Having a VC on board from the beginning makes everything more serious and gets you in front of other investors and corporate contacts that you would not easily connect with without the program. The VC element also makes seeking future funding easier.”

    Jani-Mikael Kuusisto, Co-Founder, The Warming Surfaces Company.

    Fluff Stuff 

    • Material innovation for clothing and home textiles
    • Replaces unsustainable filling materials such as polyester etc.


    ”Great structure with clear milestones and valuable investor and customer contacts. More focus on and understanding for sustainability than in other accelerators.”

    Tea Auramo and Amir Tahvonen, Co-Founders, Fluff Stuff.

    Capalo AI

    • Artificial intelligence for predicting energy demand spikes
    • The solution can be used to optimize production and thus reduce wastage and make operations more efficient


    “Everything was organized professionally. We gained a lot from Product-Market Fit sparring as well as knowledge on how to succeed in raising funding. Innovestor’s networks towards relevant corporations and investors were super valuable for our business.”

    Henri Taskinen and Teemu Lappalainen, Co-Founders, Capalo AI.

    SciAR

    • A tool for minimizing human error in various processes
    • Improves work quality and increases cost efficiency


    “The PALO Program has been a valuable experience for our company. We’ve been in many accelerator programs, but this was the most professional. The program’s structured approach, live meetings, and discussions with industry experts have helped us to gain a deeper understanding of the market and develop a clear roadmap for success. In addition, the number of people at the Deal Day was impressive.”

    Kristian Alaviuhkola, Co-Founder, SciAr.

    Spolia

    • A partner of designers and builders in cleantech construction projects
    • Focusing on the reuse of demolition materials


    “I would definitely recommend the program to others. The program moves your startup to the next level, and the support from Innovestor was crucial for our startup. Innovestor doesn’t leave you alone, even though they are a big venture capital company.”

    Mikko Piitulainen and Petri Salmi, Co-Founders, Spolia.

    Blokgarden

    • Sustainable food production in urban environments
    • Cultivation boxes for rent, e.g., for building societies and companies


    “An effective accelerator program that creates credibility for the startup and takes the business to the next level. The program connects you directly with customers and investors. I couldn’t really think of how we could have been better supported.”

    Tuomas Ilander, Co-Founder, Blokgarden.

    Refamo

    • Software solution for real-time fatigue structure monitoring of steel
    • Can be utilized in analyzing the life or carrying capacity of a structure


    “The program was significant for us in terms of credibility. Through it, we met a lot of exciting partners with whom discussions have already been started. The themes of the program were good, and the advisors were professional. Peer learning and the exchange of ideas was also an essential element in terms of learning.”

    Vesa Aaltonen, Co-Founder, Refamo.

  • Advisors

    During the 12 weeks, you will work with your dedicated Growth Board, which consists of top-notch advisors chosen for your company. The advisors are committed to developing your business idea with you by bringing their vast experience in growing and developing sustainable businesses. In addition, we will be inviting Innovestor’s own professionals to mentor the participant companies.

    Get to know some of our amazing advisors

  • Corporates

    Our partnership network includes 300+ corporations. From this one-of-a-kind network, we’ll find a corporate partner that has the strategic interest to develop unique business with your team. We are committed to finding the most relevant corporations to initiate discussions with your company.

    In addition, the program partner Finnish Society of Automation, supports PALO participants and companies through their network.

     

     

  • Deal Day

    The 12-week program will culminate in a Deal Day, where the participants get to deliver their polished pitches to impress potential investors. We will invite fellow VCs, angel investors, bankers, and corporate representatives to attend the day.

    PALO’s deal day is an exciting day for the founders with a lot of energy in the room – check out the vibes from last year’s Deal Day from the video below.

INNOVESTOR PALO IS THE PROGRAM FOR LAUNCHING YOUR SUSTAINABLE TECH STARTUP INTO FULL SPEED

12-week fast track to pre-seed funding, finding product-market fit and customers. Supported with “been there, done that” advisors and venture capital network.

We will handpick 8 promising, early-stage sustainable technology companies for the program. The selected companies will each receive funding of €75K.

APPLICATION PERIOD IS CLOSED

The application period is from May 4th to June 4th.

PALO ALUMNI PRESENTS

Meet some of the PALO 2022 companies and read what they have to say about the last year’s program. 

Fluff Stuff

Fluff Stuff is a material innovation and impact design company that creates planet positive textile fillings and develops new harvesting technology. Their solution is a high performing plant-based filling material from cattail.

” Great structure with clear milestones and valuable investor and customer contacts. More focus on and understanding for sustainability than in other accelerators.”

Tea Auramo and Amir Tahvonen, Co-Founders, Fluff Stuff.

Capalo AI

Capalo AI is a sustainable tech company that maximizes the value of flexible assets and energy storage systems across multiple markets. They combine the most accurate forecast data with cutting-edge AI models.

“Everything was organized professionally. We gained a lot from Product-Market Fit sparring as well as the knowledge on how to succeed in raising funding. Innovestor’s networks towards relevant corporations and investors were super valuable for our business.”

Henri Taskinen and Teemu Lappalainen, Co-Founders, Capalo AI.

Warming Surfaces

Warming Surfaces is rethinking how we’re heating by bringing to market an ultra-fast, ultra-thin, and light weight digital heater technology that turns surfaces in living environments into smart, warming surfaces.

”I was skeptical at first, but during the first meeting, I realized PALO was something different. It was love at first sight with Innovestor, and after the program, we are still in love. Having a VC on board from the beginning makes everything more serious and gets you in front of other investors and corporate contacts that you would not easily connect with without the program. The VC element also makes seeking future funding easier.”

Jani-Mikael Kuusisto, Co-Founder, The Warming Surfaces Company.

Blokgarden

Blokgarden aims to enable sustainable food production in urban environments by offering an app supported rental garden box. While providing the garden box is more of a local service, the Blokgarden app is globally scalable and teaching people how to grow their food sustainable.

“An effective accelerator program that creates credibility for the startup and takes the business to the next level. The program connects you directly with customers and investors. I couldn’t really think of how we could have been better supported.”

Tuomas Ilander, Co-Founder, Blokgarden.

CORPORATES

Examples of corporations that are in the PALO ecosystem.

Neste
Metsä Group
Walki
Valtra
Oulun Energia

Fortum
Kiilto
Remeo
Oomi Energia
Cargotec

Kemira
Telia Company
Paulig
Helvar
Alva

Interested in PALO 2024?

Applications for Innovestor PALO 2023 are now closed. Sign up to get notified when we open up a new program in 2024. 
See the program terms in Q&A section.

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ABOUT INNOVESTOR

We want to make a positive impact by supporting and growing businesses that change the world for the better. We call it making good money.

Innovestor is one of the most active venture capital investors in the Nordics and the only VC in Finland with a built-in accelerator as a value-creating model. The firm currently manages four VC funds with total capital of 220M. Consisting of almost 100 growth companies, it represents one of the largest private venture-backed portfolios in the Nordics.

Some examples of our sustainable investments combined with excellent growth:

FiksuRuoka

Innomost

OGOship