Why it’s a combination? Our health startups are, indeed, at a very early stage, but the teams are formed by experienced people, many of them having business track record as well. They don’t need to go through all the basics, such as Lean Canvas or how to pitch your presentation.
Thus, at Health Incubator Helsinki we tailor all the mentoring sessions to the companies’ needs. We are constantly discussing with the startups and evaluating the needs they have. We aim to provide the companies with the best advice available using both our own network and selected experts in any given topic. In addition, our role is also to leverage our connections and make introductions to the Finnish and international investors and stakeholders.”
The program and further development
“The combination of the incubator and accelerator format is effective for everyone. We do not want to take time from the startups by constantly organizing training events and workshops – instead we concentrate on topics that provide value. This approach is feasible as we only have 11 startups in the program (in February 2021 we are planning to launch the second batch and add another 10 companies).
We are in a process of building cooperation with all the players in the health ecosystem both in the greater capital area and on a national level. One of these collaborations is with ProHealth Growth in Turku. For instance, when ProHealth is organizing sessions which are in line with our program, they invite all of our companies and vice versa.
At Health Incubator Helsinki we have dedicated business advisors for each team. We organize 2-3 training sessions each month and meet the teams regularly with monthly meetings to evaluate their progress. The startups are free to stay up to 3 years, however, once they have received a major investment, have hired more people and showed traction, they will be able to operate on their own.
The ultimate goal of Health Incubator Helsinki is to support the growth of the new companies. Our results are also measured by the City of Helsinki and we want to demonstrate the value we add to the system by boosting innovation, discovering new talents and attracting more resources to Finland.
In the long term we will try to become the key health hub in Finland. And of course, helping health startups constitutes a very good reputation value for the city together with being a catalyst for the business growth.”
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Text: Anastasiya Markvarde / Digital Health Global, 29 October 2020
Cover photo: Riku Pihlanto / City of Helsinki