P1 Competitive economy
1.1. New Central Baltic knowledge intensive companies
01.02.2020 - 31.08.2022
New, innovative and growth-oriented startups are essential for the economic growth and competitiveness of the Central Baltic area. The NBS project creates and strengthens regional collaboration by creating a globally competitive knowledge-intensive hub for new jobs and businesses. Stemmed from the previous Central Baltic project Springboard, the accelerator periods are longer since more intensive and long-lasting cooperation between the teams is needed to gain the startup readiness and engagement to work cross-border.
The project impact is based on a logic of early intervention when forming new cross-border startups. The project aims to form cross-border teams rather than mixing already existing teams. The other crucial work package for achieving successful joint ventures is to coach the new enterprises investment readiness and to bring startups, customers and investors together.
To achieve these goals, the project provides its target group (new startups, PhD and degree students, researchers, recent graduates and highly educated expats) a smooth and supported path towards entrepreneurship and at the same time it supports the already existing pre-seed stage startups to find their first customers and investors/advisors. The consortium consists of partners from Estonia, Finland and Sweden who will implement two joint business acceleration programs, coaching and mentoring, targeted matchmaking and investor activities for already established early-stage companies.
Turku Science Park Oy Ab
Partner budget: 359.719 EUR
Amount of ERDF funding: 269.790 EUR ERDF
The achieving of the results is demonstrated in the Programme Result Indicator. The NBS project supports at least 43 teams and new enterprises during the project duration, finally aiming for 15 joint ventures or co-operating knowledge intensive Central Baltic companies. Realistically 7-8 of these are startups with joint teams, joint management or joint ownership, and 7-8 will establish other type of co-operation in relevant areas of their business development (e.g. product development, marketing). The project supports teams and startups to grow investment and customer acquisition ready and get the investments.
The indicator demonstrates the effectiveness of the chosen methodology and practice in reaching the overall objective of the project. By connecting and developing the existing regional startup and investor event activities with the joint cross-border operating model helps to guarantee an adequate number of promising new internationally competitive startups and participants for the project activities.