Vigo, the start-up venture accelerator programme, is continuing with its fourth venture accelerator.
The Ministry of Employment and the Economy in Finland accepted Cleantech Invest into its Vigo accelerator program. The new cleantech start-up accelerator will provide funding for early-stage ventures and create growth stories by combining cleantech expertise, industrial know-how and capital. Cleantech Invest Vigo is lead by managing partner Ismo Rautiainen, accompanied by Cleantech Invest founders Tarja Teppo (in picture) and Timo Linnainmaa. The team estimates that most of the Finnish deal flow will come from the clean energy area. The other promising sectors in Finland in terms of deal flow include energy efficiency, new materials related to energy technologies, recycling and waste management solutions.
The Cleantech Invest Vigo team has a proven track record both in the global manufacturing industry and venture financing. Ismo Rautiainen has a leadership experience from various industries including energy, raw materials and vehicle manufacturing. As CEO/business unit manager he has been responsible for strategy and global operations at several industrial companies. Cleantech Invest founders Tarja Teppo and Timo Linnainmaa have advised large institutional and industrial investors in direct and fund investments in the cleantech sector since 2005. Through its global network, Cleantech Invest aims to provide start-ups with direct access to leading private equity investors active in cleantech.
The Cleantech Invest team has been one of the sponsors and facilitators of the annual Cleantech Venture Day Lahti since its inception in 2004. Tarja will host the Cleantech investment strategy session at Cleantech Venture Day ‘09 Lahti (sold out).
Update: Other two new Vigo accelerators that have been announced are Food Process Innovations Ltd. and KoppiCatch Inc. Food Process Innovations focuses on innovative foodstuff and groceries, the ingredients and services in the food industry. KoppiCatch on its part focuses on ICT, web and mobile sectors.
Disclosure: ArcticStartup consults KoppiCatch clients in various aspects of developing their business further.
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This selection is a smart move by the Vigo Steering Group.
Especially in cleantech, the capability to get projects well-funded is a key — and more broadly, usually the missing ingredient of any Finnish start-up. We do not have a well-working, vibrant venture industry in this country. Seems that these cleantech people have that one sorted.
Welcome to the party and congrats! ;-)
I definitively agree with you, this was very good news. And I think in general, VIGO to be placed in such relatively young industry like cleantech still is in Finland, will increase the VC’s confidence in cleantech investments in our country. Hope we will see more cleantech VC funds in Finland.