P1 Competitive economy
1.1. New Central Baltic knowledge intensive companies
01.04.2019 - 30.06.2021
€1 184 934
Students are a key stakeholder group in the creation of new knowledge intensive companies. However, most have little exposure to entrepreneurship, thus limited willingness and capacities to create and run their own company - to set it up they require awareness of business opportunities in new and emergent fields as well as accelerated growth. However, international growth is challenging for start-ups since they lack networks, contacts, resources and skills.
NOCCA – Novel Opportunities for new Company Creation and Accelerated growth –will develop a course to be set-up and implemented in Helsinki, Tallinn and Riga. The course will include three consecutive multidisciplinary and intergenerational hackathons and idea camps. Students and organisations from the participating countries will be paired with others coming from different ones - the aim is to support the creation of new cross-border companies and to further engaging with the innovation ecosystem.
The project aims at involving 850 students Finland, Estonia and Latvia and to expose them to entrepreneurship and to challenges related to the silver, the green and the blue economy.
Partner budget: 614.981 EUR
Amount of ERDF funding: 456.623 EUR ERDF
SA Tallinna Teaduspark Tehnopol
Partner budget: 167.160 EUR
Amount of ERDF funding: 140.715 EUR ERDF
Partner budget: 147.202 EUR
Amount of ERDF funding: 123.915 EUR ERDF
Stockholm School of Economics in Riga
Partner budget: 255.591 EUR
Amount of ERDF funding: 214.773 EUR ERDF
During the course of the project, we aim to support 15 new enterprises, of which at least 6 would be cross-border companies. With some of the teams project is working already before establishment of the company. In addition, project will support 15 other companies as we are identifying ecosystem actors and strengthening the cooperation of different stakeholder groups within the region.
In order to achieve 6 cross-border companies NOCCA will expose students to possibilities of entrepreneurship. The more students are exposed to the idea of entrepreneurship, innovation and ideation, the more quality ideas and "wantrepreneurs" we will have. Each country will have their own hackathons; each joined by between 50-200 students and ran twice during the duration of the project. This amounts to a whopping 600-800 students being exposed to the challenges!
The workshops develop the ideas a step further and already create commitment to the idea and project. We are also involving existing startups or startup teams in the project in order to match people and skills as well as knowledge and resources from different countries in the region.
In the final bootcamp a jury will select the best 2-5 ideas (per each of the two implementations) for funding and for receiving support from the relevant incubators. Out of these, the end result companies will be formed. The ecosystem partners will take part in designing the hackathon themes; altogether, this comes up to 12-24 co-created hackathon themes. At the end of each implementation there will be a joint demo day with the ecosystem partners in each country showcasing the results.