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

Programme 2014 - 2020 INTERREG V-A Finland - Estonia - Latvia - Sweden (Central Baltic)

Date of latest update: 2024-03-26

Description

Description (EN):

The development and growth of high-tech enterprises in Estonia, Latvia, Finland region is to a large part hindered by the low capability of the companies to raise investments. Even though there are rather good national-level support systems for creating a new company, the difficulties arise once the company starts growing and thus needs additional funding/support. One of the most effective ways to support the development and growth of high-tech startups is to start raising capital with angel investments. However, in the New Nordics the cross-border investment activity is still low and there are too few active lead angels, who are willing to take up cross-border deals. Therefore lead angels are the foremost necessity for high-tech startups to raise funding. The main idea of the project is 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, Estonia and Latvia. To achieve that during the project training boot camps for startups and investment mentoring will be carried out. The startups will be 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 will focus also on increasing the number and activity of lead investors and BAN members. Cross-border investing is also in focus of the project to support regional startups raising capital from international angel syndicates to have better cross-region scaling opportunities.In order to build united strong investment ecosystem, the importance of building relations and sharing experience can not be underestimated. Therefore startups and investors will be taken to regional startup conferences and flagship events where special networking and pitching events will be carried out within the project.

Achievements (EN):

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

Website: http://centralbaltic.eu/

Expected Results (EN): R1.1. Number of new joint or co-operating knowledge intensive enterprises

Expected Outputs (EN):

The main results of the project will be: 10 new CB companies have received cross-border investments Out of 180 companies receiving investment readiness training and mentorship, BAN networks will choose the best 60 to pitch for angel investors at the BAN pitch events and out of those, out of which 10 will be getting an international cross-border angel investment syndicate. The link between project results and programme result indicator “Number of joint or co-operating knowledge intensive enterprises” is direct. As a result of increasing the investment readiness of startups as well as increased capacity of the investors, a number of new high-tech startups cooperating in the region will emerge. The startups will be provided with needed tools in order for them to raise investments. As a result of the project activities, the startups of the region will gain relevant knowhow and experience in raising capital, as well as participate in a wide network, enabling to achieve higher level of cooperation. Through the trainings and events of the project, the startups will be able to collaborate on a higher level, as the project lays a common ground and provides possibilities of experience sharing. All startups participating in the project as target groups and beneficiaries are expected to develop more rapidly, as the contact with investors has been provided and relevant skills taught.

Thematic information

SME and entrepreneurship

Specific Objective: New Central Baltic knowledge intensive companies

Thematic Objective: (03) enhancing the competitiveness of SMEs by:

Investment Priority: (03a) promoting entrepreneurship, in particular by facilitating the economic exploitation of new ideas and fostering the creation of new firms, including through business incubators

Partners (2)

Lead Partner: Eesti Äriinglite Assotsiatsioon MTÜ

Department: N/A

Address: Pärnu mnt 148, 11317 Tallinn, Estonia

Legal status: private

Website: http://www.estban.ee

Total budget: EUR 274 289.71

ERDF budget: EUR 233 146.25

Finnish Business Angels Network

Name: Finnish Business Angels Network

Department: N/A

Address: Lapinlahdenkatu 16, 180 Helsinki, Finland

Legal status: private

Website: http://www.fiban.org

Total budget: EUR 268 627.50

ERDF budget: EUR 201 470.62

Partners map

Lead partner

Project partner

Summary

Project name (EN): New Nordic Lift Off - raising Central Baltic startups and scaleups investment awareness and building a strong united investment ecosystem

Project acronym: New Nordic Lift Off

Project start date: 2020-06-01

Project end date: 2022-11-30

Project status: closed

Total budget/expenditure: EUR 542 917.21

Total EU funding (amount): EUR 434 616.88

Co-financing sources:

ERDF: Amount, EUR 434 616.88.

Documents

Documents on this project are listed below, and organised by category. Please note field "Data source", attached to each document. Keep.eu users are free to use these documents as long as they mention the data source and keep.eu.

Videos / films

1/2 What are the angel investors searching for? Kristjan Raude, New Nordic Leads

Attachment type: link

Type of document: Video / film

Data source: https://www.newnordicleads.com/

Publication date: 2023-09-26

Document date: 2022-02-02

Languages: en

2/2 What do angel investors want? Kristjan Raude, New Nordic Leads

Attachment type: link

Type of document: Video / film

Data source: https://www.newnordicleads.com/

Publication date: 2023-09-26

Document date: 2022-02-02

Languages: en

Building a funding roadmap

Attachment type: link

Type of document: Video / film

Data source: https://www.newnordicleads.com/

Publication date: 2023-09-26

Document date: 2022-11-29

Languages: en

Dare to lead! Taking on the multidisciplinary responsibility of leading syndicates

Attachment type: link

Type of document: Video / film

Data source: https://www.newnordicleads.com/

Publication date: 2023-09-26

Document date: 2022-12-16

Languages: en

How do investors and founders work together? (Annukka Mickelson)

Attachment type: link

Type of document: Video / film

Data source: https://www.newnordicleads.com/

Publication date: 2023-09-26

Document date: 2022-05-26

Languages: en

How to find the right investor? Martin Goroško, New Nordic Leads

Attachment type: link

Type of document: Video / film

Data source: https://www.newnordicleads.com/

Publication date: 2023-09-26

Document date: 2022-02-02

Languages: en

How to fund your startup? Riivo Anton, for New Nordic Leads

Attachment type: link

Type of document: Video / film

Data source: https://www.newnordicleads.com/

Publication date: 2023-09-26

Document date: 2022-02-02

Languages: en

How to make kick-ass syndications?

Attachment type: link

Type of document: Video / film

Data source: https://www.newnordicleads.com/

Publication date: 2023-09-26

Document date: 2022-12-15

Languages: en

Key metrics for startups, by Heidi Kakko, New Nordic Leads

Attachment type: link

Type of document: Video / film

Data source: https://www.newnordicleads.com/

Publication date: 2023-09-26

Document date: 2022-02-02

Languages: en

Leading my first syndicate

Attachment type: link

Type of document: Video / film

Data source: https://www.newnordicleads.com/

Publication date: 2023-09-26

Document date: 2022-12-15

Languages: en

Lessons learned from angel investing syndicate research

Attachment type: link

Type of document: Video / film

Data source: https://www.newnordicleads.com/

Publication date: 2023-09-26

Document date: 2022-11-29

Languages: en

The 3 Cs of successful angel investing and 21st century leadership

Attachment type: link

Type of document: Video / film

Data source: https://www.newnordicleads.com/

Publication date: 2023-09-26

Document date: 2022-11-29

Languages: en

What are the key components of a pitch deck? (Fabian Sepulveda)

Attachment type: link

Type of document: Video / film

Data source: https://youtu.be/XrBucVZACtU

Publication date: 2023-09-26

Document date: 2022-05-26

Languages: en

What is a CAP table? (Will Cardwell)

Attachment type: link

Type of document: Video / film

Data source: https://www.newnordicleads.com/

Publication date: 2023-09-26

Document date: 2022-05-26

Languages: en

What is a shareholders’ agreement (SHA)? (Saga Forss)

Attachment type: link

Type of document: Video / film

Data source: https://www.newnordicleads.com/

Publication date: 2023-09-26

Document date: 2022-05-26

Languages: en

What makes a winning team? (Rhett Thompson)

Attachment type: link

Type of document: Video / film

Data source: https://www.newnordicleads.com/

Publication date: 2023-09-26

Document date: 2022-05-26

Languages: en

What's a term sheet? Yrjö Ojasaar, for New Nordic Leads

Attachment type: link

Type of document: Video / film

Data source: https://www.newnordicleads.com/

Publication date: 2023-09-26

Document date: 2022-02-02

Languages: en

Information regarding the data in keep.eu on the programme financing this project

Financing programme

2014 - 2020 INTERREG V-A Finland - Estonia - Latvia - Sweden (Central Baltic)

Last month that data in keep.eu was retrieved from the Programme's website or received from the Programme

2023-11-11

No. of projects in keep.eu / Total no. of projects (% of projects in keep.eu)

137 / 137 (100%)

No. of project partnerships in keep.eu / Total no. of project partnerships (% of project partnerships in keep.eu)

663 / 663 (100%)

Notes on the data

Information provided by the Programme. Achievements were retrieved by Interact from the Programme website (http://centralbaltic.eu/), or a website directly linked from it, on 2021-11-08, 2023-01-12 and 2024-03-08.

The financial data featured in keep.eu for this programme, it's projects and its partners is not exact and should be taken as a reference only.

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

Description

Thematic information

Partners (2)

Partners map

Summary

Documents

Information regarding the data in keep.eu on the programme financing this project

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