What is a good innovation ecosystem like, and what kind of support do start-up companies need in order to thrive? Tips for succeeding in the health and well-being sector were offered by the Health 18 seminar held in connection with Tahko Ski Lift Pitch. Several teams with roots at the University of Eastern Finland also pitched their ideas in the start-up competition.
- Text Ulla Kaltiala
- Photos Raija Törrönen ja Marianne Mustonen
Speaking at the opening ceremony of the Health 18 seminar held in Tahko on 12–13 April, the Rector of the University of Eastern Finland, Jukka Mönkkönen, talked about how the university is responding to the rapidly changing operating environment through its newly updated strategy.
“In the university’s strategy, increasing emphasis is placed on impact, which we seek to strengthen through an open operating culture and innovation ecosystems.”
Open innovation ecosystems, such as Kuopio Health, make it possible to exchange ideas and expertise, and constant interaction between the university, companies and the surrounding society facilitates the emergence of new innovations.
“We still need to increase citizen involvement in these ecosystems,” Mönkkönen said.
In neurosciences, the links between research, clinical care and business and industry will be strengthened by Neurocenter Finland, which is currently being planned and prepared under the coordination of the University of Eastern Finland. The centre is also expected to give a boost to the field’s innovations, start-up companies, international investments and partnerships. Neurocenter Finland is designed as a network of different actors in the field, and Mikael von und zu Fraunberg, the director of the preparatory phase, presented the plans at Tahko.
“In the future, Finnish neuroscience expertise and materials will be available via a single point of contact at Neurocenter Finland.
New models for the treatment of brain diseases are implemented in six pilot projects funded by the Ministry of Social Affairs and Health, and, according to Fraunberg, new partners are still welcome to join.
“Neurocenter Finland will hopefully give a boost to clinical drug trials in neurosciences here in Finland,” said Senior Advisor Mia Bengtström from Pharma Industry Finland.
According to her, the number of clinical drug trials in Finland has reduced by half since the early 2000s, although investments haven’t reduced as much. Today, most clinical drug trials focus on cancer.
“In Europe, the field attracts 30 billion euros in investments every year, and it is possible for Finland to increase its current share. Last year, the field’s companies invested 254 million euros in Finland, and they expect to increase their investments by 40 million over the next two years.”
According to Bengtström, Finland has a unique combination to offer for drug trials: committed trial participants, a well-functioning health care system, digital health data, genome data, biobanks, and government support for the activities.
“What we still need is a nationwide point of contact that can guide those interested in the right direction.”
“The health technology sector is a research-driven field with highly educated people operating in it. Start-up companies should keep in mind that this is also a highly regulated field characterised by tough competition,” Healthtech Finland’s CEO Saara Hassinen said.
According to Hassinen, health technology is a growth industry boasting an annual growth of ten percent in exports.
“We export more than we import. In the future, health technology is likely to bring more and more money to Finland. A growth strategy for research and innovation activities in the health sector, as well as a genome strategy, are important for the sector’s innovations and growth.”
Global moonshots
In the seminar, Fazer’s Head of Renewal Päivi Juolahti presented the company’s innovation ecosystem, which has been developed around the Fazer Brainhow programme, and which also offers opportunities for start-up companies. Juolahti highlighted two consumer trends as important foundations for the ecosystem.
“Consumers are looking for authenticity, personal service and tailored food products. The other trend is consumers’ increasing interest in their own well-being, and that of the planet.”
StartUpHealth, on the other hand, is a global innovation company seeking to reform health care. “Entrepreneurs can be important agents of change in health care, said Aki Koivistoinen, StartUpHealth's Ambassador for Europe.
He presented major global health goals – moonshots – that also StartUpHealth wants to promote through its accelerator programmes. These include promoting access to care, curing diseases with the help of data and technology, child health, high-quality food, brain health, and stigma-free promotion of mental health as part overall health in general.
“At the moment, everyone wants to build and be part of an ecosystem,” said Sales Manager Emilia Roiha from IndustryHack, presenting the innovation company’s vision of a structured ecosystem strategy.
According to Director Miikka Kiiski from IBM Watson Health, a good ecosystem is like a forest: diversity makes it bloom.
“An ecosystem should also yield more overall value to its participants than they could achieve on their own. It’s a matter of give and take, in the right proportion.”
Entrepreneurship requires customer orientation
According to Senior Specialist of Business Development Riku Rikkola from VTT Technical Research Centre of Finland, researchers aspiring to become entrepreneurs need to learn to take a more customer oriented approach.
“I always encourage researchers to think about whether they have a solution to a critical customer problem, and how to refine that solution into a commercial product.”
“Researchers often consider their solution more mature than it actually is, and that’s something we come across with when licensing research findings. Companies want technologies that are ready and scalable, and those are rarely available.”
CEO Tuija Keinonen from Medfiles, a company offering research and product development services to drug and food industry companies, among other things, gave a presentation on the company’s path to becoming a global player. Emerging as a spin-off company from the University of Kuopio, Medfiles was acquired by the Japanese WBD Holdings concern last year, turning the company into a hub of WBD’s activities in Europe.
“There is a lot of debate about large companies taking over the social welfare and health care sector. However, more than 95 per cent of the sector’s companies in Finland are micro companies. It is important that we stand up to the big ones by networking and making more noise about ourselves,” said Laura Sinisalo, Chair of the well-being committee of the Federation of Finnish Enterprises. Sinisalo obtained his PhD in nutrition from Kuopio, and she serves as an expert in Nutrinet, a company she has founded.
Examples and solutions to the commercialisation of innovations in the fields of health data, artificial intelligence and digitalisation in particular were presented in the seminar by Microsoft's Director of Health Solutions Hanna Nikkilä and Elisa's Vice President of Business Development Kimmo Pentikäinen. In addition, Director Minna Korpi from Nasdaq Helsinki, CEO Juha Yrjänheikki from Aurealis Pharma, and Coordinator of Growth and Internationalisation Markku Koponen participated in a panel discussion at the seminar. Chaired by Mikko Juuti from Kuopio Health, the panel focused on facilitating start-up companies in the health technology sector.
Fredrik Sträng, a mountaineer and a motivational speaker, on the other hand, shared his experiences of how extreme conditions spark innovation, and he compared entrepreneurship to mountain climbing.
“You need to be a bit strange to get started, but then again, innovations are not born from normalcy. You need to push your limits.”
The University of Eastern Finland was the main partner of Tahko Ski Lift Pitch and the organiser of the Health 18 seminar. All in all, the events attracted 200 people. Bringing together health and well-being sector companies, investors and start-ups, Tahko also hosted a pitching competition where 20 start-up companies competed for a prize of 10,000 euros to further refine their business idea. Several teams with roots at the University of Eastern Finland also participated in the competition. The most successful of these was Adamant Health – NeuroTracking, which came in third. The company has developed electromyography and motion analysis to support the treatment of Parkinson’s disease.
Main image: Pitching battle between Carme Plumed-Ferrer from Tasty Green (on the left) and Kaisa Kähkönen from Ravistamo - both with a nutrition-related business idea and roots at the University of Eastern Finland. Judge Jussi Rieppo in the middle.
360-video from the event: