In practice, the cooperation involves the establishment of a business accelerator in the Helsinki metropolitan region. The startups selected for the business accelerator will be offered comprehensive support in scaling their business for the global markets. The companies will receive coaching, mentoring, funding opportunities and entry to Telefónica Open Future’s international network. The participating companies will be jointly selected by Telefónica and Team Finland.
Telefónica Open Future is the Spanish company Telefónica’s service hub for startups and growth companies. Telefónica has a presence in 21 countries. The cooperation agreement was signed on behalf of Team Finland by the Ministry of Employment and the Economy. Invest in Finland/Finpro and Tekes – the Finnish Funding Agency for Innovation are also involved in the cooperation.
“For its part, Team Finland’s objective is to speed up the internationalization of new business activity in the ICT sector and to support companies in their search for growth markets. The cooperation with Telefónica Open Future offers an excellent chance for Finnish companies to access new international business opportunities,” says Severi Keinälä, Industrial Counsellor, from the Ministry of Employment and the Economy.
Cooperation aims to cover whole of Scandinavia
The cooperation is aimed to expand to Scandinavia and the Baltic region. Following the selection of the companies for the first phase, about 20 new companies will be taken onboard annually.
“Telefónica Open Future is a major international forerunner in open innovation activity and we already have cooperation agreements with China and South Korea. Cooperation with Finland is a natural way to expand the activity in Europe and to bring in high-tech startups,” says Javier Placer from Telefónica Open Future.
“In addition to the fact that Finland has top companies in knowledge-intensive technology, Finland is constantly increasing its reputation and attractiveness as the hottest startup cluster in the Nordic countries. Slush is a concrete example of this. With this cooperation agreement, we are doing our part to create new international contacts and business opportunities for Finnish startups,” says Marko Vänskä, Head of Industry, Growth Capital, Finpro.
Head of Industry, Growth Capital, Finpro
tel. +358 50 5885856
Nordic Manager at Telefónica Open Future Nordic
tel. +358 44 9810528