(Helsinki, Finland, May 25th, 2022) Venture Capital company Innovestor is launching an idea/pre-seed stage program for sustainable technology teams and startups. The new program aims to find the next world-class innovations from startups focusing on sustainable technologies. Innovestor will also invest a total of EUR 500,000 in the ten startups selected for the program.
“The PALO program allows us to accelerate innovations and bring breakthrough sciences to market for the benefit of the environment and society. Developing the program has been our long-term goal and supports our passion to build a more sustainable future for the next generations. Another key aspect is our desire to support the idea/pre-seed stage teams in obtaining the customer relationships and funding, which will be needed as the projects mature“, says Wilhelm Lindholm, CEO of Innovestor.
Innovestor commits to bringing its network and resources to the table
The distinguishing feature of the program, in addition to the initial EUR 50,000 investment, is that Innovestor invites its corporate partners to the program. The partner companies will be involved in both selection of the participant startups, as well as operating as an integral part of a “Growth Board” tailored to each participant. The goal is that some of the participants will also launch commercial pilot projects with the partner companies.
“Innovestor aims to be more than just a traditional Venture Capitalist in the field of innovation. With our corporate customer network, we believe that by bringing together the industrial expertise of large corporates, our top-notch mentors as well as our investor views, we can create unique success stories“, says Matti Härkönen, Partner in Innovestor’s Corporate Venturing.
Mentors and companies are invited from Innovestor’s extensive network, according to the specific needs of the participating startups. Some exceptionally experienced mentors, such as Ilkka Kaikuvuo, Aki Soudunsaari, Piia Maaranen, Aleksi Rautavuori and Pasi Pohjala, have already accepted Innovestor’s invitation to join the program. The mentors and companies form advisory teams and bring their expertise to the startups. “My personal mission is to promote health and happiness of people and the planet. As a mentor in the PALO program, I see my key contribution being a global business perspective, customer centricity, enthusiasm as well as my know-how in scaling businesses. We need more innovations that will affect the well-being of billions of people and several planets“, says Aki Soudunsaari, who is e.g. one of the founders of the international growth company Naava, a strategist and serial entrepreneur.
Soudunsaari continues: “Corporate cooperation creates huge opportunities for participants in the PALO program. It’s a whole different thing to start taking an idea further having already found the right people and resources to help you.”
While planning and developing PALO, both large corporates and startups were interviewed to make sure that the program would help solve the typical challenges related to sustainable technology companies. “We can say with a strong voice that the program is unique in Finland and offers the teams involved an attractive setting: funding, the right partners, and corporate mentoring“, Wilhelm Lindholm assures.
Apply to the program from here: https://innovestorgroup.com/palo/#apply
Contact and information:
Heli Mehtätalo-Takala
Director, Marketing & Communications
heli.mehtatalo-takala@innovestor.fi
+358 50 402 6781
Matti Härkönen
Managing Partner, Corporate Venturing
matti.harkonen@innovestor.fi
+358 40 578 2688