The VTT Technical Research Centre of Finland, in collaboration with Valio and the University of Helsinki, has chosen 10 promising agricultural and food technology startups for the FAN Nordic Hub accelerator program based in Helsinki. The selected startups, six from Finland and four from Sweden were meticulously chosen from 81 high-quality applications by an international panel of impartial experts.
Program manager Paolo Borella expressed enthusiasm about the diverse business ideas aligning with sustainable trends in the food industry. Half of the selected startups focus on alternative protein sources, each approaching the concept uniquely. The remaining startups aim to address challenges in farming, retail, storage, and product development. Notably, Acoustic Extra Freezing, among the Finnish participants, stands out as a success story, exemplifying the growing trend of companies from Russia establishing themselves in Europe through Finland.
Each startup will be paired with a mentor from the food industry or startup scene, gaining access to lectures and workshops covering product development, service design, sales, marketing, and fundraising.
Valio and the University of Helsinki anticipate reciprocal benefits from this collaboration. Valio will share its experience with startups while delving into themes like corporate cooperation, food trends, and food chain sustainability. The University of Helsinki will contribute expertise in food and nutrition science, sustainable development, consumer understanding, and marketing.
Soila Kananen, innovation manager at Valio, emphasized the intention to learn from startups and stay abreast of the latest trends and research. Professor Maija Tenkanen from the University of Helsinki highlighted their expectation to gain insights from the participating companies.
The startups will present their businesses at a demo event in October, with two finalists earning the opportunity to compete for three 100,000-euro prizes at the European EIT Food Venture Summit. This initiative is part of the EIT Food Accelerator Network (FAN), contributing to the establishment of a sustainable food system across Europe.