Developing healthcare through co-operation and innovation

When a healthcare research team or business comes up with an idea, a long path lies ahead. The route to adoption of a healthcare product is expensive, tightly regulated and has very many stages. Before it can be accepted for public use, it must undergo extensive studies in its operating environment to guarantee safety. Its financiers must be patient; they will generally have to wait for quite a while for a return on their investment. 

 At the same time, there is a significant need for new innovations in healthcare. New equipment can free up the skills of nursing staff for work that machines cannot perform, such as the humane encountering of patients and finding creative solutions. Patient safety can also improve as new, properly studied and tested equipment comes into the market.

The key to creating health and life science innovations is to get representatives of the different fields around the same table. Terkko Health Hub has been operating in the modernized Meilahti Campus Library building since autumn 2017. It combines three worlds that are traditionally separate from one another – business, healthcare and research. Today the health and life science hub leases rooms and desks to 45 companies and also supports their growth by arranging training, events and mentored networking opportunities. It is a place where 200 events of every sort take place each year. In autumn 2020, Terkko Health Hub’s operations were complemented by Health Incubator Helsinki, a unique three-year incubator program for research-driven teams and startups in the health and life science sectors. The program is a joint project of the City of Helsinki and the University of Helsinki. It aims to transform health innovation, research findings and skills into commercial products and international business.

Terkko Health Hub offers comprehensive assistance and consultation for companies at various stages, and also brings corporate partners into the community. The agile and innovative work style of startups coupled with the structured and professional attitude of corporates creates a perfect collaboration benefiting both parties. 

“Terkko Health Hub is a key operator in the greater Helsinki health start up community. Terkko is providing homebase and support for many of the most promising health start ups, and the vibrant community and education programs like Health Talks are very valuable. Health Capital Helsinki wishes happy third birthday to Terkko and is looking forward to continue the excellent collaboration to drive health startup success in Greater Helsinki and Finland,” says Juha Paakkola, Director of Health Capital Helsinki.