Arctic Startup

Open Source service company Nomovok is the number one in the Deloitte Technology Fast 50 list of 2007. The list ranks firms based on the revenue growth over the past five years (having at least 5 years of operations is thus one of the prerequisites). The revenue growth of Novomok over the past 5 years has been impressively over 2300 %. Only a bit behind comes Bluetooth technology provider Bluegiga Technologies. Third is Openbit, provider of mobile DRM solutions, with 1636 percent growth.

Last year’s first Sulake and third Digium have slightly dropped, although still in top 10. The 2006 number two Cidercone was just recently acquired by OMX-listed Ixonos.

Deloitte’s Tuomo Salmi, partner, Services, describes that according to the accompanying qualitative study the most critical factors affecting success have been concentrating on the core business, committing the personnel, and leadership-related factors, as seen by the management of the companies. Having and being able to keep skillful and entrepreneur-minded people was deemed even more important than customer accounts.

Deloitte Technology Fast 50 competition in Finland is arranged in cooperation with Kauppalehti, The Finnish Venture Capital Association, The Finnish Software Entrepreneurs Association, and Tekes. Top companies will automatically participate in EMEA Fast 500 competition. Last year Sulake positioned 12th in the EMEA Fast list with 8095 % growth, while Cidercone was 65th with growth of 2086 %.

This might implicate that this year’s top Finnish growth companies may not position anywhere in top 50 in EMEA. More arrogant and audacious growth entrepreneurs needed?

Launched in September 2007, Floobs (and the Finnish version, open for beta), is going head on with Seesmic into the personal video channel business.

Floobs is now in open beta in the Finnish site and the site will be going to live beta on the international site in November, according to their help page. Floobs allows users to store video clips on the server, make their own videos out of them and follow other users’ videos. Floobs also allows users to send live video, which is a nice idea - not sure how usable though.

Like many Finnish companies, Floobs allows users to send video through a mobile client onto the service. The mobile client will also be able to broadcast live video, so this is taking the whole citizen journalism to a new level. For the moment the client was still not loadable, but will be on the site during autumn 2007.

If you’re in Paris for LeWeb 3, you’ll be able to bumb into the founders - Joonas Pekkanen and Kai Lemmetty.

Gemilo Oy is launching a tool for creating advent calendars based on user-generated content and tags. The service is called 24päivää.fi (24days) and is due to launch as Beta in November (Beta testers being recruited). The users can comment and rate content, as well as compose different kinds of new content combinations for their calendars.

Co-founder Katri Lietsala, also known as the leader of the PARTECO social media business opportunities research project, says 24päivää.fi is unique in that it gives the users the possibility to choose what the calendar looks like and what will be shown in each door, all based on user-generated content. A commercial version of the calendar tool might also be launched, targeted at firms’ stakeholder and customer communications.

Gemilo concentrates on social media productions and consulting. The business idea is helping firms to evaluate how to implement and optimize social media and adapt the best solutions. No outside investors are involved currently.

From: Vieritypalkki.fi

While crucially important, fundraising can hugely distract entrepreneurs’ focus from growing the business. The process for getting funded is often long and rough, and the long-term value of the relationship uncertain. Also the treatment of companies vary by fund. TheFunded addresses these problems and offers to help entrepreneurs to find the best funding sources by enabling them to share information about VC funds.

Threre are three target audiences:

• early stage entrepreneurs looking for funding, either first time or those having exited a previous company
• fast growth entrepreneurs that have many different funding sources to consider
• any entrepreneur willing to scrutinize on funds before engaging and sharing Board seats

The service offers a global database of funding sources along practical insights from those who have dealt with the funds. It’s possible to do searches and view facts, reviews, and commentary. Entrepreneurs, CEOs, and CxOs can join as members based on applications. Members benefit by having access to all reviews and venture funds’ contact information, and being able to rate and comment fund and partner performances.
Finnish VC funds are also featured in the service.

Leadshouse Oy Ltd has introduced a new community Liidit.fi specialized in sharing sales leads. The community is targeted to business leaders and B2B sales professionals.

The value proposition states that by feeding seemingly useless information into the community members can find many of the others’ tips as rather useful sales opportunities. Getting the leads for your own sales from the community thus should save time and money.

The trick is that each lead costs credits, which you can either earn by sharing tips of your own, or just by purchasing them bluntly with your credit card. The price for each lead will be recalculated over time depending on the number of times a lead is bought so the leads will get more expensive or cheaper compared to the default price set at the beginning. Popular leads will also yield bonus points for the presenter. The reliability and interestingness of each lead is measured allowing to rank users and thus improving trust in the community.

The idea is interesting indeed and the implementation draws from concepts used successfully by many others. Gaining critical mass might be difficult, though - you probably have to offer quite clear an impact on the bottom line to get executives and sales reps to put time into something like this. Top-class leads would really need to be available to draw attention and get it growing. Not having any specific target industry may make it harder to attract enthusiastic users as well, albeit the potential user base is bigger. Well, giving out a box of Cava for good leads is a start.

TEKES organizes Verso Software Summit as part of program November 5th in Marina Congress Center in Helsinki. Free enrollment by Oct 24th.

The event offers presentations given by experts such as Johan Zetterström (Salesforce.com), Risto Siilasmaa (F-Secure), and Seppo Ruotsalainen (PROFict Partners). After the keynotes round table discussions will follow where different cases are talked over lead by a variety of expert advisors. Topics cover different aspects of internationalization strategy and operations, including partnering, financing, M&A, and HR challenges.

Another Otaniemi event on October 11th brings together Finnish hightech growth startups and equity financiers including business angels and VCs. The forum offers possibility for entrepreneurs to deliver one-minute elevator pitches or more formal presentations to attract financiers. Networking is eased by Technopolis Ventures experts.
Enrollment required beforehand.

More info: SWbusiness.fi

VTT Technical Research Centre of Finland among other organizers arrange Otaniemi Forum event in Otaniemi, Espoo on November 1st. Purpose is to offer a yearly meeting place especially for young technology, business, and design professionals and scientific community in order to facilitate new emergent ideas and their commercialization. The event is a mix of presentations and networking. Speakers include Francesco Cara, a Principal in Nokia Design, and Yrjö Sotamaa, Rector of the University of Art and Design Helsinki.
Participation is free of charge, but you need to enroll by October 19th.