Questions & answers

INNOVESTOR PALO

Who should apply for PALO program?

A Finnish idea or pre-seed stage sustainable tech startup team with a world class business and/or product idea. Looking for right contacts, money and customers for their business. Your company has to be established not later than 1st of September 2022.

In 2023 our goal is to open PALO program to Nordic and Baltic startups offering world changing technologies.

Read moreClose

What’s in it for me? Why should I apply?

New partner to your team, with capital, contacts and customers. Money to kickstart your business, hands-on business coaching from top notch mentors, customer contacts and your growth road map ready for next funding round.

Professional level valuation and feedback on which direction your team should be heading.

Read moreClose

How many companies are in the program?

In our autumn 2022 batch, we accept 10 most promising sustainable tech companies to join the program.

Read moreClose

What is Innovestors role in the program?

Innovestor invests 50k in each startup. Thus, we will be part of the startups’ journey also in the future. 

Our aim is to support you through the program and beyond.

Read moreClose

What can I expect after the program?

You have found hands-on VC partner to your team, your next client, pilot partner, follow-on investors, advisors or perhaps all of these.

Read moreClose

Is the program online or offline?

The four program workshops are live meetings in Helsinki. 

The form of Growth Board meetings can be agreed between attendants.

Read moreClose

What are the dates of the program?

Four workshops (whole day):
Thu 6th of Oct – Kick Off Day
Thu 27th of Oct – Workshop 2
Tue 22nd of Nov – Workshop 3
Wed 14th of Dec – Demo Day

+ Thu 9th of Feb 2023 – Follow-up Day

 

Altogether 4 Growth Board meetings to be held between workshops (3 hours):
Thu 13th of Oct – Growth Board 1
Wed 2nd of Nov – Growth Board 2
Tue 15th of Nov – Growth Board 3
Thu 1st of Dec – Growth Board 4

Read moreClose

How do we match your startup with relevant corporation?

This is one of the key benefits of the program, so we are thrilled to share more information about it. We give you access to our corporate network. We will invite the most relevant corporations to participate in your process, based on your individual needs. This happens in two phases:

1. We have invited a team of corporations to give feedback about to the program applicants (before the final selections). 

This way we can ensure that there’s already some traction between corporations and the teams before the program kick-off.

2. Together with you, we identify 3-5 corporate brands, that you could be a strategic match with. Innovestor contacts the relevant ones and as an established VC in innovation market, builds the bridge between you and the selected corporation.

Read moreClose

Which corporations have teamed up with Innovestor to evaluate program applications?

We have invited a team of corporations to evaluate program applications together with us. Like us, they are passionate about founding the next big innovation in sustainable tech and hungry to build cooperation with the right team. These corporations are:

  • Oulun Energia
  • Fortum
  • Metsä Spring (Metsä Group)
  • Alva
     
  • Kiilto
  • Remeo
  • Telia Company
  • Kemira
  • Neste
  • Walki
  • Paulig
  • Stera
  • Valtra
  • Oomi Energia
Read moreClose

What are the terms of PALO program?

We’ll make a 50 000 € investment for 4% equity stake.

The program fee is 20 000 €.

30 000 € is for your company’s own expenses and development work.

Read moreClose

How do we support your team to utilize other funding tools before the program starts?

Our goal is that your team can utilize min. 50 000 € funding from other funding sources (on top of our investment worth of 50 000 €). We support your team in this task by giving a free analysis regarding funding possibilities from our top-line funding expert, Fimentum.
The analysis will be answering these questions:

  • Is your team able to get additional public funding?
  • Where from and what kind of funding is it possible for your company to aqcuire?

If seen relevant, Fimentum supports your team to apply this additional funding (at an additional cost).

Read moreClose

How many hours does the program take from your team

During the 12 weeks, you will be attending the program workshops and meetings. These will be taking all together approximately 70 hours. 

In addition: Please make sure you have enough resources and hours to use for the meeting and workshop preparations.

Read moreClose

Who are the mentors and corporations in the program?

Mentors and corporations are invited from our vast network, based on your team’s specific needs. On top of this we’ve already invited some well established mentors, such as Aki Soudunsaari, Piia Maaranen, Aleksi Rautavuori, Ilkka Kaikuvuo and Pasi Pohjala to join our advisor teams.

In addition we will be inviting Innovestor’s own professionals and portfolio company founders to mentor the attending companies.

Read moreClose

Why 12 weeks? Why follow up in February 2023?

We have ambitious goals for the program: roadmap to pre-seed round and collaboration plan with a corporation. In our experience, few months is too short for both of these steps. 

Especially in startup-corporate collaboration it might take longer than expected to finalize the collaboration plan. That’s why this program isn’t just a 2 week sprint.

Read moreClose