University of Helsinki will invest $10,800 to $54,000 in its student-founded businesses through the newly-launched Helseed initiative.
University of Helsinki unveiled a new seed capital initiative on Thursday with the aim of boosting early-stage support for its student-founded businesses.
The initiative, dubbed Helseed, appears to be wholly-owned by the university and will begin operations later in April 2020. Each portfolio company stands to receive between €10,000 and €50,000 ($10,800 and $54,000) through the scheme.
Helseed will aim to drive the university’s societal impact by fostering entrepreneurship and responsible business activities. Investees will be offered guidance on a flexible basis through Helsinki Think Company, the university’s student entrepreneurship society.
Applications will close in September 2020 before a pitch contest for the finalists to be held two months later at University of Helsinki-run creative thinking hub Think Corner.
University of Helsinki already supports intellectual property-based spinouts through Helsinki Innovation Services (HIS), its internal tech transfer office. The TTO announced a partnership in 2018 with US-based innovation network Xinova to connect its researchers to international investors and partners.
Anders Ekholm, chief investment officer at University of Helsinki, said: “Science and innovations drive society forward. The students’ ideas can generate solutions to different real-world problems. At the same time, startup entrepreneurship can be a good path to working life.”
