From research to business project to a new company with seed funding
Eventually, Aalto University was able to find expertise from both healthcare sector (HUS Helsinki University Hospital) and commercial side (TUTL project commercial expert) who then formed the core team together with the original researchers.
“Later, this core team was supplemented by experienced software and healthcare professionals who became co-founders of the company,” Pyysalo says.
The business model and plan to proceed was drafted during the 2,5 years of TUTL B2C-project which, unfortunately, took place during the COVID period.
For the last couple of years, the team was running its project at the Aalto University with R2B funding from Business Finland. Finally, the team incorporated the company in February 2022 and got a small investment in immediately.
“We then negotiated with Aalto about the technology transfer for months and finally closed it in early May 2022,” says Pyysalo.
“Right now, we’ve just closed our seed financing round with Almaral Oy, and we already got a Business Finland Tempo grant accepted. We’ve planned our path to MVP (minimum viable product) and are now taking first steps on that path,” says Pyysalo, interviewed in early June 2022.