The healthcare industry is often overlooked for entrepreneurs. Even though it’s an area in need of a major overhaul. The amount of regulations and lengthy sales cycles makes it a daunting prospect for anyone who wants to set up a business in the industry.
And as we see incubators like StartUp Health focus solely on health pop up in the US. Tueday's Summer of Startups Demo Day presented four teams addressing problems in healthcare.
While Helsinki remains the hub for startup activity in Finland, three young entrepreneurs from Turku are aiming to make life for nurses easier with NurseBuddy. Their goal is to make reporting between managers, nurses and patients more efficient with the use of their homecare improvement solution.
Last year, Rovio did about €75.4 million in revenue. About 30% of this came from different merchandise sales. The rest of the revenue flowed in through the sale of digital content and advertising in its Angry Birds games. Wall Street Journal interviewed Lisa Shamus, EVP of Commonwealth Toy & Novelty, a family business that creates plush toys for children. Shamus in the article shares that they sold about $200 million worth of Angry Birds merchandise to retailers. She continues to state that they are on track to sell $400 million worth of Angry Birds merchandise for this year.
To answer that question we've been in touch with AppStats to analyze how these entertainment giants are doing. Stardoll of course is one of the more successful online networks aimed at teenage girls and Rovio has been huge on Facebook due to Angry Birds Friends. Angry Birds was "leaked" to Facebook on February 13th. Already in March the company passed 10 million MAUs (monthly active users).
The Founder Institute, claiming the title for the world's largest startup accelerator, is arriving to Finland this fall. The for-profit accelerator was started in 2009 by Adeo Ressi, also the founder of TheFunded.com a website for entrepreneurs to understand how investors compare between each other. Compared to other accelerators, Founders Institute has more of an educational approach to entrepreneurship than a 2-month intensive with hands on coding or business development.
To graduate, you must go through the curriculum that includes numerous lectures on different areas to successfully start a business. Classes are run by the chapter leader, which in Finland is Toni Perämäki. He is the founding member of Boost Turku and has built the Boost Startup Farm co-working space as well as the person in charge of Boost Turku Startup Journey - accelerator. The chapter begins operations in Finland on August 14th with a public event taking place in Turku on selling. Participants are expected to graduate in early February 2013.
August 2nd saw the release of Supercell's second big iOS game, Clash of Clans. Towards the end of June the company released Hay Day and shot to the top of the charts with it. Even today, Hay Day is in top 50 for the top grossing apps in the US.
But back to Clash of Clans. It's a game made for the iPad and iPhone in a similar fashion to that of Hay Day. Both games are expected to be played in short bursts (but then again you can dive in for hours) whether you're comfortably on the sofa with your iPad or commuting to work and waging war on your iPhone.
The Helsinki, Finland based startup Transfluent has launched Transfluent for Apps. It is a cloud based service where app developers can tap into the network of 15000 translators that work in 60 languages. The traditional or more common way to translate applications into multiple languages is to finish the app and towards the end of the development cycle, send all the text strings for translators. Transfluent helps in speeding this up, but making the translation process a part of the development cycle and will thus improve time to market.
Transfluent for Apps works through the company's API. The company's backend has been prepared in such a way that it works well with lean development processes where multiple iterations take place each day. All the texts can be sent to translators multiple times per day, but only those where changes have taken place are translated as Transfluent's system keeps track of different iterations.
Earlier this week iZettle sent out e-mails to their users in Denmark, Finland and Norway that Visa Europe has cancelled their contract in those countries. Since then iZettle has been working on restoring the status of that contract so that it could continue to accept payments with Visa cards in those countries. The story has multiple weird twists, such as why hasn't Visa Europe cancelled the contract in Sweden which is iZettle's home market?
On Monday's blog post iZettle has not commented on the specifics of the agreement and why Visa Europe decided to cancel it. Since then we have learned that it has to do with Visa Europe's policies regarding security standards. Then again, this is where the story gets harder to understand.
Back in June we covered how the Finnish startup Kippt had been accepted into Y-Combinator. The founders are back in Finland for a quick visit and we decided to have a chat with Jori Lallo about the impact Y-Combinator has had on them. Y-Combinator has been ranked the best startup accelerator in the world by Forbes and there are surely others as well.
The reason is quite simple. The accelerator has produced some of the most valuable internet startups in less than 10 years. Since the founding of the program in 2005, companies such as Airbnb and Dropbox have graduated, not to mention Reddit whose co-founder Steve Huffman spoke at Arctic15 last year.
Creating native mobile applications from HTML5 is picking up speed and the Helsinki, Finland based AppGyver is in the middle of this. They've seen steady growth in their client base in the last two years and to speed things up, they closed a $1M funding round. The money will be used to continue hiring of key personnel and expand their business operations into the US. Investors in the round include private investors as well as Tekes and Foundation for Finnish Inventions (Keksintösäätiö). Therefore the amount announced includes both private money and public leverage.
Arctic15 is the premier industry event for Nordic and Baltic startup and growth companies. The conference was organised for the first time last year with some 400 people attending it. This year, we're improving on many fronts and Arctic15 will be over the two days in October.
A big part of the conference is also the startup competition we're putting together. Last year we had 15 awesome companies on stage pitching themselves. However, what's more interesting is the fact that these 15 companies raised $12.85 million in funding in just 10 months since the last conference. Naturally we can't take credit of this for ourselves, but I think it suggests that the best companies in the Nordics and Baltics are present at Arctic15.
A stealth startup from Oulu, Finland has been reported by The Finnish National Broadcasting Company (YLE) to be working on a device called Goodspeed. Uros Oy is the company behind this mobile phone sized device that would make data roaming costs obsolete. Today one of the biggest obstacles to using services overseas are the ridiculous roaming costs operators charge users.
In July 2010 the European Union announced regulation that would force operators to limit charges to consumers from data roaming costs. The default monthly cut-off point would be €50, unless the consumer has chosen another cut-off point enabled by the operator. Operators also need to send a warning to the consumer when 80% of that sum has been reached.
Has this change by the EU made users more open towards using data services overseas? Yes and no. While it's more transparent to use these services the usage figures are still far from those in the home networks.
Yesterday, Helsinki, Finland based Gajatri Studios soft launched their facebook game Yoga Retreat. It's the first game of Gajatri Studios and developed through an interesting model of financing as well as a small development team that outsourced many parts of their work where they were missing talent.
We thought it would be interesting to talk to Tiina Zilliacus, the founder and CEO of Gajatri Studios about the development and funding of their first game. The story is interesting and hopefully would inspire other women to also try their wings at running a startup.
Compared to shopping malls, the e-commerce sector has it incredibly easy. But Helsinki-based Hyper[in] is attempting to make managing commercial real estate much more plug-and-play. Hyper[in] has produced a nearly all-encompasing platform for managers of commercial real estate. It combines all the things you need to run your shopping mall efficiently, while also creating significant non-rental advertisement revenue for their customers. On top of that they also offer services, like the website behind the shopping mall, making Hyper[in] an easy one-stop shop for their customers.
Their solution is somewhat targeted to commercial real estate owners with around ten good-sized malls in their portfolio. With multiple malls they can offer a management dashboard where whole-mall portfolios are shown, with metrics like sales, service provider management, advertisement sales figures, consumer analytics, and so forth.
Last Friday, the New York Times ran an editorial entitled That's no phone. That's my tracker. The authors Peter Maass and Megha Rajagopalan of ProPublica, the nonprofit investigative newsroom, make the point that today's mobile phones are used only occasionally for phone calls, and instead their main function is to help its owners keep track of the time, our friends, where we go, and how much money we have in the bank.
They suggest a new term for smartphones. "People could call them trackers. It’s a neutral term, because it covers positive activities — monitoring appointments, bank balances, friends — and problematic ones, like the government and advertisers watching us."
A Finnish company, RapidBlue, would fall into their latter category, as they are building the service that allows advertisers, media companies, and store owners to track customers in the brick and mortar stores. The solution uses public Bluetooth signals that RapidBlue's receivers picks up, but does not connect to. The company has determined that that their solution can track the movement of 95% of consumers in the Nordic countries, and 91% in Southern europe.
As the signal to noise ratio decreases on larger social networks, more and more startups are beginning to take a stab at creating much more private networks. Path is one big example of a social network for just your close friends, while others like Pair and Cupple (now currently operating out of Copenhagen) are building apps that allow couples to privately share messages, pictures, and checkins with each other. Continuing this trend is HeyWe, a private sharing app for families. It seems to hit all of the key pain points that parents and children have, or at least the easiest ones solved by mobile.
HeyWe is the first product built by the Oulu, Finland based startup, Cosmic Gecko. To build the product CEO Jyrki Matero leads a team of 15 people listed on their webpage (including three trainees). On top of HeyWe, the company also lists Cosmic Gekko Arena, a free location-based game, in development.
HeyWe has just launched on App Store, Google Play and Nokia Store, making it open to families with a mix of phones.
Most people are familiar with all the convoluted rights challenges around owning music they've purchased, but the problem is only extrapolated for those producing music. Many freelance artists join collection societies like ASCAP, BMI, SESAC, and Teosto. These organizations were created for keeping track of licensing, collecting and distributing income from the performance and the duplication of compositions. It makes sense for music creators so they can better monetize their works. But when new innovations like Audiodraft come around, it has added a some friction to getting their audio crowdsourcing platform to be a tool of choice for professionals.
Collection societies exist to give musicians a central organization that will take care of their rights. For example, if a composition is broadcast on TV or radio, the songwriter of that composition is entitled to public performance royalties from the broadcaster. The organizations that collect license fees from broadcasters and distribute these funds back to songwriters in the form of public performance royalties are called performance rights organizations.
While the homing pigeon is known for navigating back home over long distances, some other animals, such as the spiny lobster, are able to do the same on a more local level. Research has given some idea that these animals are able to derive positional information from cues that arise from the local anomalies of the Earth's magnetic field. With an accurate compass in every iPhone and Android device, a team of Engineers from the University of Oulu in Finland have created a new breed of indoor positioning technology that does not require WiFi or other beacons, but instead provides a major update to one of Man's oldest navigating technologies.
Using signal processing technology, the university team discovered that steel masses inside buildings twist the Earth's magnetic field such that every spot produces a unique pattern. “Each building, floor and corridor creates a distinct magnetic field disturbance that can be measured to identify a location and generate a map,” explains Dr. Janne Haverinen, the head of the project.
The team realized the practical potential of their findings. To provide a practical solution to be used by smartphone application developers, Dr. Haverinen’s research team has founded IndoorAtlas Ltd to commercialize the innovation. Along with the launch, the company also announces a seed capital investment from the Helsinki-based Vigo accelerator, KoppiCatch.
As people were beginning to wind down for the long midsummer weekend, the Helsinki, Finland based Supercell went on to launch their new game Hay Day. Hay Day is a farming game like no other. One might think that the world has seen enough of annoying farm game advertising on Facebook from the likes of Zynga, but having played Hay Day through out the weekend for about 10+ hours in total I can say that there is demand.
Hay Day is also Supercell's first mobile and tablet only game, meaning it has been designed for the iOS platform. You can play it on your iPod Touch, iPhone as well as the iPad.
According to Ilkka Paananen, the CEO of Supercell, the launch has been quite phenomenal despite the challenging launch date.
Just during the long weekend, the game has shot to #7 in the US iPad listing while pushing to #13 on the iPhone. Paananen also disclosed that according to their own analysis, they are going to be achieving similar places in their key markets in Germany, Switzerland, Austria, UK, Canada, Australia and so on. In many countries they're already in the top three spot.
The other week we asked where were Helsinki's big startups, and today Kiosked responded with a new funding round. €4.5 million is a nice number for the "content activation platform," but what gives the funding more weight is that this is the first major public investment made by Kaj Hed since pumping money into and buying up 70% of Rovio. The funding round was also joined by private investors and Tekes, and Hed will join the Kiosked board as chairman.
Of the €4.5 million, a million euros comes from Tekes' Young Innovative Companies -program and the direct investments by investors is around €3 million. Kaj Hed's stake in the round is the largest by far.
On the funding round, Hed says, “Disrupting and re-shaping any industry is always interesting. Kiosked is the first to connect brands with their online business logic through their content and fans. It is going to create new paradigms that will change the way brands engage with consumers forever.”
We've opened the flood gates with Arctic15 and we're coming out with lots of news these days. The latest being the opening of the Arctic15 startup competition. Like said in a post earlier this year, we will do the startup competition in a slightly different way. We have 15 different categories that startups can submit themselves into and through those we will find the winners of each category that will get a chance to pitch themselves on stage in October.
Here we go! We have 12 hot keynote speakers from around the world coming to Arctic15 this October to share their advice in growing scaling businesses. Furthermore, we're only half way there. We'll be seeing 10+ more panelists in August, but we wanted to give you a sneak of the upcoming speakers and our program for this year. In addition to awesome talks, we're going to be hosting the Oohack Open 1, which is Open Ocean Capital's data hackathon on Tuesday th 16th. Lucky developers from the hackathon will get to showcase their hacks on the main stage.
As for the new speakers announced today, we have in no particular order Phil Libin, the CEO of Evernote, Mikkel Svane, the Founder and CEO of Zendesk, Kristjan Hiiemaa, Founder and CEO of Erply, Nicolai Wadstrom, Founder and CEO BootstrapLabs, Edial Dekker, Co-Founder and CEO of Gidsy as well as Niklas Adalberth, Founder and Deputy CEO of Klarna.
Arctic15 is a very dear child to us. We want to create the most business worthy event for startup entrepreneurs through awesome speakers, networking and business opportunities. We also realise that when you make a great event, a lot of people will have to travel to your event from close and far. This of course generates huge amounts of carbon dioxide and the so called carbon footprint is rather large for an event close to 1000 people.
Location data provider Gecko Landmarks announces $1 million in funding today. The Espoo, Finland based company provides location services for feature phones through text based landmarks. These landmarks provide data for application developers, who can then use location data for maps, checkins, and other services. You might think initially that this solution wouldn't be too accurate, but this example on Google Maps shows quite the opposite.
One use case of Gecko Landmarks is providing text-based checkins, or friend finding based on local landmarks. If you're near a shopping center, for example, Gecko can position you to being close to that landmark and return "Westfield Mall" for example. This workaround of feature phone's technology provides a good level of service, and there's just something cool about there being location services for phones that only display text.
Be forewarned, this post might be a little breathless, but this has to be one of the coolest technologies coming out of Finland right now. The other week I got the chance to go to Senseg's Espoo, Finland offices and get my hands on their prototype tablet. Senseg creates "feel-screens" or touchscreens that offer the sensation of textures when your finger is on the screen.
Their prototype device I used was an old Toshiba tablet that was running Android. Jukka Linjama, Senseg's chief technologist and the head of their human-centric development, was quick to point out that the choice of operating system was just that it was easy to hack, although looking at ArcticStartup's job board, you'll see that they are hiring Android, Windows 8, and Linux hackers, among other positions.
To be honest, my first few seconds with the tablet were underwhelming as I didn't really feel much of anything at all. But you quickly learn how to interact with the screen. I'm used to fat-fingering and mashing buttons on my iPhone, but with Senseg you need to be gentle to get the most precise feedback. I found the way to get the best response was to use more of the side of my finger, and use light taps or movements across the screen.
Kippt, the bookmarking service started by Finnish entrepreneurs Karri Saarinen and Jori Lallo, has been accepted into perhaps the world's most famous startup accelerator, Silicon Valley's Y Combinator. Along with the announcement, Kippt has announced new social features that help groups share lists of bookmarks publicly and privately. We covered the company previously just a couple of weeks ago here on ArcticStartup.
Kippt allows users to bookmark websites through a bookmarklet or web extension. When doing so, you throw the bookmark into a folder, allowing you to keep your bookmarks organized. The new sharing features build off of thus feature, allowing users to share their folders publicly or privately.
Sulake, the Finnish company behind Habbo Hotel that has some 10 million active users a month globally, has run into its biggest difficulties as a company so far. The company has seen its fair share of challenges in the form of financial difficulties that resulted in shutting down its country offices outside of Finland. Last night The Kernel broke the news that Channel 4 in the UK would reveal some very disturbing material regarding the teenage community. The Kernel titled their piece as "Habbo exposed as a paedophile haven".
Before airing the piece on Habbo Hotel, Balderton Capital confirmed to the BBC that they will exit their investment in the business at zero value. The investment firm held a 13% stake in Sulake which by even careful estimates would have been in the low tens of millions. Since the Channel 4 piece ran, Tesco and WH Smith have withdrawn the Habbo Hotel gift cards from sale in the UK.
Editor's note: This post is part of a series of posts published in co-operation with Elance, the leading source of outsourcing talent in the world. Elance is also supporting our ArcticEvening Helsinki on June 14th.
Elance is helping us with ArcticEvenings in the region and in return we want to highlight how they're helping startups with quick access to talent. On Thursday, Elance representatives will also be present at ArcticEvening Helsinki and therefore we want to highlight a Finnish startup they are working with.
Dream Broker is an online video software company started in 2007 that focuses in video production and distribution. They are a video platform for companies and organisations where open systems such as Vimeo and YouTube don't work. Their service can be used for software tutorials and support, staff competence development, change management as well as communications to name a few functions.
The company has strong growth and in 2011 did almost €1.5M in revenue.
We talked to Ari Heljakka, the Chief Strategy Officer about how they use Elance and how other startups could learn from their use cases for it.
Last night Startup Sauna, the FInnish startup accelerator pulled of something that became Europe's largest demo day with some 750 registered attendees. We've also noticed something else this week with Founder's Week in full swing and Latitude59 taking place in Tallinn - we need to begin to prioritise startup events as we're simply running out of bandwidth. As we're also attending the Latitude59 event in Tallinn we weren't actually able to attend the Demo Day, but based on what we've heard - the Startup Sauna guys and gals pulled off another great event with an awesome late night after party.
An interesting application of 3D printing is shown by London and Helsinki based MakieLab. The company announces their alpha launch of MAKIES, a user designed 3D printed doll. Along with the launch, MakieLab has announced their seed round investment of $1.4 million, led by early-stage investors Lifeline Ventures and Sunstone Capital. The round was also joined by Anime and gaming industry veterans Matthew Wiggins, Daniel James and Cedric Littardi of superangel-fund Ynnis Ventures.
Editorial note: this article was originally written by Chieftain Elina Arponen for Tribe Studios blog. Tribe Studios builds Dramagame - a platform for high quality multiplayer story games. Tribe Studioes was also one of the Arctic15 finalists last year.
I attended an excellent panel yesterday morning which consisted of Paul Bragiel, Sami Inkinen, Russel Simmons and Aaron Patzer. The event was part of the founder’s week organized by Aaltoes. This topic of having kids/family came up in several audience questions and was a little bit foreign territory for most of the panelists.
I feel somewhat of a self-learned expert on the area and thought to write about my experiences. I’ve been running with Tribe Studios now full speed for 1 year and 8 months. My husband, Ville-Kalle, is one of my co-founders from the start. Together we have a boy that’s going to be 4 years in August. Currently I’m pregnant with the second one with an ETA in July. So how do we make it work?