Central Baltic Project Database - SME and entrepreneurship

New Nordic Lift Off was raising Central Baltic startups and scaleups investment awareness

marika.bogel-leino — Fri, 03 Nov 2023 08:55:07 +0000

The main objective of the project was to stimulate cross-border investments in the region into high-tech startups by increasing the startups’ investment readiness and raising the overall investment knowledge within the sector and build strong a united investment ecosystem between Finland and Estonia. The startups were provided international high-level meetings with investors, VC and corporate partners. To raise the availability of angel investment in the market for startups and scaleups the project focused also on increasing the number and activity of lead investors and business angels.

The project achieved 15 cross-border investments: 14 companies were either Finnish or Estonian and 1 company was from Lithuania.

On a way towards achieved investments, more than 50 start-ups pitching to EstBAN and FiBAN cross-border investors took place. Also 134 start-ups were trained within 4 training batches.

It was observed that more and more cross-border investments happen thanks to the built trust between investors. The get-togethers and mingling between investors are a must-have after the covid-crisis, where no new connections were made. Therefore, the knowledge sharing sessions, trainings and investor meetings were most impactful for the investors and to the investment scene.

As cross-border value added, based on strengthened trust between EstBAN and FiBAN organisations, the collaboration between two business angel networks has improved significantly. As a outcome, EstBAN and FiBAN share deal flow on a daily basis and the cross-border investments. This brings more investment opportunities for start-ups from both countries.

Tags:

SME and entrepreneurship

Category:

Joint knowledge intensive enterprise

At a glance text:

stimulate cross-border investments
increase the startups’ investment readiness
15 cross-border investments achieved
collaboration between Finnish and Estonian business angel networks

Project link:

New Nordic Lift Off - raising Central Baltic startups and scaleups investment awareness and building a strong united investment ecosystem

Northbound Startups increased the capacity of Central Baltic region to produce international start-ups

marika.bogel-leino — Wed, 01 Nov 2023 12:00:18 +0000

The aim of the project was to increase the capacity of Central Baltic region to produce international start-ups by supporting teams and new enterprises. In different project events 63 new enterprises were supported. Accelerator programme was completed by 15 startups and 10 startups graduated from Investment Readiness process.

Because of the Covid-19 pandemic and related travel restrictions project developed digital tools and it gave possibility for more people/entrepreneurs to participate in the project events online. There were hundreds of participants in Hackathons, Matchmaking and Networking events and over 100 investors took part in trainings and project events. On the negative side it made impossible to have direct face-to-face events and it didn’t support development of joint cross-border ventures.

The structured Investment Readiness Process developed and launched during the NBS project will be integrated to partners’ services, as well as other Investor Services.

Tags:

SME and entrepreneurship

Category:

Joint knowledge intensive enterprise

At a glance text:

Investment Readiness Process developed and launched
Plenty of participants in the different online events

Project link:

Northbound Startups

4Smart Growth increased export of Central Baltic region SME's to China and Chile

marika.bogel-leino — Fri, 27 Oct 2023 11:59:04 +0000

The overall objective of the project was to jointly use the existing business intelligence and connections that partners had with 2 regions in China and Chile for increasing the export of the CB region SMEs. Project main planned result was to reach 3-4 sales agreements in 3 markets during or shortly after the project, and to organise export missions for 30 SMEs from CB clusters to new markets.

Due to the COVID-19, the project had to adapt and implement a turnaround from the traditional physical traveling to external markets with a digital matchmaking program. This taught the consortium that it is possible to arrange successful export activities online. 35 companies attended digital matchmaking activities in 3 markets. By the end of the project 3 sales agreements (one in Chile and 2 in China) and 2 commercial representation agreements were signed. There are still 41 pilots under discussions that hopefully will turn in to agreements in near future.

Tags:

clustering and economic cooperation

New products and services

SME and entrepreneurship

Category:

New cluster co-operation exporting to new markets

At a glance text:

COVID-19 changed the physical travelling to external markets to a digital matchmaking program
successful export activities can also be organised online
3 sales agreements (one in Chile and two in China) and two commercial representation agreements were signed

Project link:

Smart Clusters for Smart Growth through Joint Business Intelligence

Young female Baltic Entrepreneurs creating the future to gain practical experience of running their own business

marika.bogel-leino — Tue, 24 Oct 2023 11:31:10 +0000

The main result in the project was developing the participants – young females - entrepreneurial capacity, mindset and skills. For many participants, the project was a start into the world of entrepreneurs and an eye-opener for the help they can get to take the next step in their career. Several participants continue to develop themselves after the project via other training and support systems to develop their business ideas and leadership skills.

Project created opportunities for young female entrepreneurs to gain practical experience of running their own business. During three interactive training cycles 50 international student companies were created, some of which actually got a product or service to the market. In addition, project encouraged the participants to see that they have grown as entrepreneurs and leaders and to see that they can use their entrepreneurial skills in other contexts now and in the future.

For project partners from Sweden, Estonia and Latvia, the project deepened the knowledge of what the process of business start-ups and relevant support systems look like in three participating countries.

For the participants, the international value was a part of the learning. Participants gained perspective on their own entrepreneurship by reflecting it in an international perspective. Many participants described working together in international teams and learning effective communication as both a challenge but also one of the best things about the project. As female leaders and entrepreneurs, the participants of the project are better equipped for future assignments.

Tags:

Social inclusion and equal opportunities

SME and entrepreneurship

Category:

Joint student company

At a glance text:

young females got tools and mindset for entrepreneurship
three training cycles resulted in 50 international student companies
partners in Sweden, Estonia and Latvia got international perspective about start-ups and relevant support systems

Project link:

Young female Baltic Entrepreneurs creating the future

ChangeMakers created eLearning materials on sustainable environment and environmental challenges

marika.bogel-leino — Tue, 24 Oct 2023 10:10:42 +0000

One of the most valuable and interesting achievements of the project was a functioning study module for upper secondary and vocational schools. The study module consists of high-quality eLearning materials on circular economy, cross-cultural teamwork and communication skills, innovation management, entrepreneurship, prototyping, market research and pitching.

Project created an open ePlatform for cross-border joint student companies on environmental challenges. The platform gives access to the eLearning materials with PowerPoints, word-files for teachers, and additional videos, as well as examples of created environmental challenges. The ePlatform supports students’ on how to become an entrepreneur, enhance one’s creative skills, self-competence as well as social intelligence.

Additionally, the project established cooperation with the business sector around the Central Baltic area, which allowed the students to solve real-life environmental challenges. Student teams provided the business sector with working and inspirational solutions for their possible future use.

53 student teams were formed during the project implementation, each consisting of students from at least two participating countries - Finland, Estonia, Latvia, Sweden and Åland. The activities that led up to ready student start-up simulations gave the students an opportunity to a multidimensional experience and boosted the student's experience on international joint teams.

Tags:

SME and entrepreneurship

External link:

ChangeMakers ePlatform

Category:

Joint student company

At a glance text:

developed a study module for upper secondary and vocational schools
created an ePlatform which is aimed at cross-border joint student companies on environmental challenges
cooperation with the business sector in the Central Baltic area was established
53 international student teams were formed

Project link:

ChangeMakers - Start-ups for sustainable environment created by youngsters

SENsationalSTEM developed a cross-border entrepreneurship programme for students with special educational needs

marika.bogel-leino — Tue, 24 Oct 2023 09:27:26 +0000

SENsationalSTEM project aimed at increasing entrepreneurial thinking among young people by having a specific focus on SEN (special education needs) students. The project developed and piloted a cross-border entrepreneurship programme for SEN student in the field of science, technology, engineering and mathematics (STEM). The project provided a possibility for SEN students from Finland, Estonia and Latvia to create international student teams and establish student companies which can serve as basis for future co-operation and businesses.

Totally 84 students from 15 schools from Finland, Estonia and Latvia participated in entrepreneurship pilot programme. These students created 13 business ideas. Due to covid 19 cross-border team building and bootcamps for students took place only in the very end of the project, but students were still able to work and present their joint business ideas during the events.

Development of own business ideas was a valuable experience for the participating SEN students. Student companies provided opportunities for social, cross-border/international communication and improvement of vocational skills in a business simulation environment. Students learned about their business strengths and their skills gaps. Participation in the project also provided opportunities for the development of employability skills which complement the vocational skills the participants learned during the course programme.

Tags:

SME and entrepreneurship

Attachment:

Entrepreneurship curriculum

Project final report

Category:

Joint student company

At a glance text:

combining SEN students from Finland, Estonia and Latvia
13 business ideas created by 84 students

Project link:

Development of cross-border entrepreneurship of students with special educational needs in the field of science, technology, engineering and mathematics.

Exports of clusters of CB economic strengths shipbuilding, maritime, renewable energy, automation and ICT to Namibia as a stable point of entry to the Southern African markets resulted in six sales and two joint ventures in Namibia and Zambia

marika.bogel-leino — Wed, 04 Oct 2023 11:41:33 +0000

The goal of the project SME Aisle was to support the exports of Estonian, Finnish, Latvian and Swedish companies on the fields of shipbuilding, maritime, logistics, renewable energy, automation and information communication technology to Southern African markets, especially having a focus on Namibian, South African and Zambian markets.

The project introduced Southern African markets for hundreds of organisations, especially to SMEs. Altogether 45 SMEs participated in business missions to target markets which resulted in six sales and two joint ventures in Namibia and Zambia.

All achievement of the project are collected to freely available browser-based SME Aisle ePlatform tool https://smeaisle.samk.fi/en/smeaisle The ePlatform introduces the project results and promotes business co-operation between the Central Baltic region and Southern African markets.

Tags:

clustering and economic cooperation

SME and entrepreneurship

External link:

SME Aisle ePlatform tool

Category:

New cluster co-operation exporting to new markets

At a glance text:

The project introduced Southern African markets for hundreds of organisations.
45 SMEs participated in business missions to target markets
The missions resulted in six sales and two joint ventures in Namibia and Zambia.

Project link:

Exports of clusters of CB economic strengths shipbuilding, maritime, renewable energy, automation and ICT to Namibia as a stable point of entry to the Southern African markets

NOCCA created novel opportunities for new company creation and accelerated growth

marika.bogel-leino — Fri, 29 Sep 2023 07:15:58 +0000

Aim of the project was to build and pilot a new cross-border approach to student empowered company creation with the specific aim of generating new cross-border enterprises in the silver, blue and green economies in the Central Baltic Sea region. The main objective was to create 6 new joint or cooperating cross-border companies.

Project organised hackathons, networking and pitching events to support students’ awareness raising and capacity building for entrepreneurial-minded students. 450 students participated in different events and many of them indicated future aspiration towards entrepreneurship career.

Project faced challenges from Covid-19 pandemic and lockdowns had a negative impact on project activities, especially on cross-border cooperation. Project was quite successful in using online tools but students’ commitment to virtual events was not as strong as to physical events. Missing possibility to communicate face-to-face made cooperation harder. Because of that some of the project focus was turned to helping existing startups by giving mentoring services to them. In total 72 enterprises were supported by the project activities.

Project main objective was achieved partly: 7 new start-up companies were created. However, they are not cross-border companies although they indicated plans to expand their activities to other project countries. Intention to work together with somebody from other country was not enough strong and Covid related restrictions had additional negative impact on working across borders.

Tags:

SME and entrepreneurship

Knowledge and technology transfer

Category:

Joint student company

At a glance text:

In total 72 enterprises were supported by the project activities.
7 new start-up companies were created.

Project link:

NOCCA – Novel opportunities for new company creation and accelerated growth

Teaming UP encouraged entrepreneurship among the youth

Ari Brozinski — Thu, 26 Jan 2023 11:45:13 +0000

The project has developed a Teaming up motivational programme methodology which has included a large number of different kinds of events, workshops, entrepreneur visits, mentoring and a bootcamp as well as pitching possibilities. Altogether 12 international business teams were formed as a result of the project. Ten mentors from Latvia, Estonia and Finland were involved and more than 50 business experts and speakers from the Central Baltic region took part in the project.

Cross-border cooperation was also the main driving factor that improved students' business skills and entrepreneurial potential. It encouraged them to think globally and internationally In the future, it will support them to enter new markets, export their product and communicate their ideas with people from different countries.

An additional result of the Teaming UP programme is the availability of student company products in the Mercuria online store, thus encouraging students to continue developing their business ideas after the programme (https://shop.mercuria.fi/c/tuotteet/teaming-up-products).

A project sustainability plan has also been made.

Tags:

SME and entrepreneurship

Attachment:

Sustainability plan

Methodology

Category:

Joint student company

At a glance text:

Student business simulations
12 business teams
Over 50 business experts involved

Project link:

Teaming UP

NNFA increased exports of film productions

Ari Brozinski — Thu, 26 Jan 2023 08:35:50 +0000

The project targeted to increase exports within the film production sector in Estonia, Latvia and Finland. Production in the context of this project was defined as for filming movies, TV series and advertisements in the Central Baltic region. Within film production sector the export occurs through servicing international productions that take place in the home country.

For reaching the set objective it is crucial to address the current need of developing and introducing the region worldwide as an acknowledged film area providing an excellent and wide array of high standards services. Combining the advantages and strengths that the three partner countries have will result in a much bigger regional impact.

Project developed and executed a large-scale international marketing strategy to provide the target markets with info that the regions co-operate to provide sufficient number of crew members, different needed technology and also expertise for specific tasks needed for large scale productions. The project received positive feedback from foreign producers, especially from the North American market, who considered the region more attractive when getting to know three countries’ strengths combined as homogeneous region and providing a wide array of services with high standards for their large international productions. The high interest rate towards B2B meetings and region FAM tours when possible confirmed that volumes that can be reached in 3 countries cooperation are far greater than what each partner separately could ever achieve.

NSFA countries participated at different international film festivals and markets in Europe, Asia, and North America, created two public online presentations for the North American and Japanese market, the latter one with simultaneous translation. These events had both highly valuable attendance. Due to COVID restrictions 30 B2B companies’ meetings were arranged by the project agent in Tokyo and 24 B2B online company meetings were arranged in North American market for key players like Paramount, Warner Bros and Amazon Studios.

More than 80 SMEs participated in project activities as participating in project festival booth, agent meetings, B2B meetings or servicing the production. Since the tailormade roadshows of the project could not be executed due to the global COVID-19 pandemic, showcases and B-to-B meetings partly replaced the content of roadshows and face-to-face meetings with industry professionals, which resulted with high interest in FAM tours when the travel restrictions allow. Project received several production inquiries, and one bigger scale production took place in partner country (Latvia).

Tags:

clustering and economic cooperation

SME and entrepreneurship

Category:

New cluster co-operation exporting to new markets

At a glance text:

Joint marketing efferts gained wide recognition
Over 50 B2B meetings
More than 80 participating SMEs

Project link:

North Star Film Alliance After careful consideration the project has changed its name from "New Nordic Film Alliance" to "North Star Film Alliance" to avoid confusion with one film festival. Nevertheless the project acronym will stay the same - NNFA.