The University of Helsinki Incubators’ Biosphere programme is a hybrid incubator and accelerator for aspiring entrepreneurs and innovators from diverse backgrounds.
“Our programme focuses on bioeconomy, green technologies and circularity issues. Almost 40 teams have been involved. Our goal is to turn solutions into fundable, scalable and impactful startups. Several teams have made innovative use of location data and technologies in their solutions,” says Pedro Gensini, Biosphere Incubator Programme Manager at the University of Helsinki. The programme is supported by the City of Helsinki, known for its ambitious carbon neutrality targets.
Early-stage support is important
The teams involved in the Biosphere programme are at an early stage in the business process. They have an established idea or invention that has attracted the attention of industry professionals or potential customers.
“The team must have at least two people committed to it and they must attend the workshops we organise. At the application stage, we also look at factors such as whether the team is open to feedback and what kind of communication skills they have,” says Gensini.
One of the biggest challenges in the early stages is getting investors to believe in the business idea.
“Many of the solutions we are talking about involve a high investment at an initial stage for which many investors are not willing to take the risk. This means that many solutions that may sound promising in laboratories never see the light of day,” remarks Gensini. The programme addresses this challenge by enabling teams to obtain a seal of approval for their work and to present their work to a network of investors who may be willing to invest in their business.
Many success stories to tell
Pedro Gensini believes that the success of an incubation programme is evident when entrepreneurs turn ideas into businesses despite the challenges they face. He has witnessed the early, and sometimes hard stages of the many promising companies. One of Biosphere’s success stories in the location intelligence sector is Lensor, which provides a digital solution for data-driven decision making through satellite image optimisation.
“Lensor has quickly established itself as a reliable solution in the agricultural sector and now has projects on three continents. They have entered one of the most important accelerators for the farming sector in Finland. It’s been great to be part of this story,” says Gensini.
Another interesting example is Amertate, a company that has developed a new vertical wind turbine that can be adapted to the needs of multiple clients.
“When they entered the program, they were in the process of ideation and consolidation of the product. They currently have multiple product lines to respond to different ranges of energy demand and have carried out several successful deployments of their product,” notes Gensini.
New unicorns on the horizon?
The process of planning the next round of Biosphere is about to begin. According to Gensini, there will be some changes to the programme that will improve the service to entrepreneurs, familiarise them with business terminology and provide better support to turn ideas into reality. Teams offering innovative solutions using location technology, data and AI are invited to apply to the programme next year. There are many challenges ahead that require efficient and reliable innovative solutions to create a more sustainable and circular economy, and location data and technology can be the key to success.
“Typically, our cohorts have between 13 and 19 teams of entrepreneurs allowing us to give a personalized service to each of the potential startups. We look for teams that manage to create a company, work on improving their solution and have customers,” concludes Gensini. And if the solution ultimately makes society more sustainable, that’s even better!
- Interested in Biosphere incubator programme and the teams that have participated in it? Check out the Biosphere website
Pedro Gensini will participate in the Slush side event ‘Supercharging green business – AI and Location Intelligence in the Bioeconomy’ organised by the Location Innovation Hub. The event will explore the transformative potential of AI and location intelligence to drive innovation in the bioeconomy sector. Join the live stream! View the programme details and register now: Supercharging green business: AI and Location Intelligence in the Bioeconomy, 19 November at 15:30–17:30.
