In November, the annual Slush startup event in Helsinki emerged as the nucleus of Europe’s tech landscape, showcasing Finland’s impact on diverse sectors, from health and food to sustainability and quantum computing. With 12,000 attendees, including 4,600 startups and 2,600 investors, the event exuded an atmosphere of hope, renewal, and transformative change.
From its modest beginnings in 2008, hosting 250 participants, Slush has evolved into a pivotal event in the tech industry calendar. Maintaining its student-led organization, relaxed ambiance, and ability to attract tech giants, this year’s edition continued its mission of fostering groundbreaking entrepreneurship.
Finnish Prime Minister Sanna Marin set an optimistic tone, emphasizing the imperative for innovations and ideas to navigate the evolving landscape. Several Finnish startups, presented below, epitomize this spirit:
1. Algorithmiq: Harnessing Quantum Power for Drug Discovery
Founded in 2020, Algorithmiq focuses on developing quantum algorithms to address complex scientific queries, starting with medicine. Collaborating with IBM’s Aurora drug discovery platform, Algorithmiq aims to accelerate drug discovery timelines significantly. With four million euros in seed funding, the company anticipates showcasing its quantum advantage by 2023.
2. OleoFlow: Transforming Local Oils into Healthy Fats
In a research project at the University of Helsinki, OleoFlow has pioneered a process that converts locally produced oils into solid fats. Intended as a sustainable replacement for ingredients like butter and palm oil, OleoFlow’s innovation promises healthier products with enhanced nutritional value. The startup, led by Jyrki Lee-Korhonen, envisions commercialization and independence from the university in spring 2023.
3. Arctic Farming: Technological Precision in Vertical Farming
Arctic Farming differentiates itself in the vertical farming landscape by selling its technology to businesses rather than produce. By offering fully automated hardware to restaurants, cafes, and hotels, the company addresses quality and customer experience concerns while potentially saving up to 95% of water compared to conventional farming. Daniel Rotko envisions a future where fresh produce is available year-round.
4. Kuva Space: Satellite Technology Addressing Climate Change and Security
Kuva Space employs satellite technology to observe and address critical global issues like climate change, safety, and security. With three nanosatellites equipped with hyperspectral camera technology in orbit, CEO Jarkko Antila foresees substantial growth in the burgeoning space industry.
5. Silta Education: Enhancing Concentration Skills with Neuroscience
Founded in 2021, Silta Education combines neuroscience and digital learning to create an online program targeting improved concentration skills. Johanna Vilmi and Veera Virintie’s startup addresses challenges posed by modern work habits, emphasizing tools grounded in neuroscience to enhance daily focus.
6. Glue: Revolutionizing Virtual Communication for Remote Work
Helsinki-based Glue addresses the limitations of conventional video conferencing technologies by creating a virtual three-dimensional environment with spatial audio. CEO Jussi Havu describes an immersive experience facilitated by VR glasses, allowing users to assume avatars and engage in real-world interactions, potentially saving time and money, and enhancing work-life balance.
7. Verge Motorcycles: Hubless Electric Motorbikes for Sustainable Transport
Verge Motorcycles, led by CEO Tuomo Lehtimäki, introduces hubless electric motorbikes designed for sustainability and low maintenance. The innovative bike, set to ship in 2023, eliminates traditional moving parts like chains and cogwheels, embodying the company’s commitment to pushing boundaries for future generations.
These Finnish startups exemplify the nation’s commitment to pioneering innovation, shaping the future in industries, and propelling global technological advancements.