Turning rough ideas into polished diamonds
VAU!START+ provides support and coaching for developing, testing, and commercializing a business idea.
Developing a new idea into a sustainable business requires time and work, expert support, as well as f inancing. Many entrepreneurs and people planning to start a business need help, especially in overcoming the initial challenges. This need is addressed by the regional business incubator VAU!START+, launched by NIHAK. Traditionally, business incubators are located in large urban areas. NIHAK’s start up expert Timo Liimatainen states that the incubator model was specifically designed for the needs of the southern part of Northern Ostrobothnia.
“The people in the area have plenty of ideas, and the range of topics is wide. Expertise and practical innovations can be found in different fields from wellbeing and ICT services to the machinery and metal industry. Here, the challenge is often about taking the idea forward, and the incubator addresses that need”, Liimatainen says.
VAU!START+ is working closely with municipal business services. Through the Project according to manager Markku Laatikainen, the incubator complements traditional corporate consulting by providing more in-depth and longer-term assistance.
“We dig up the region’s business ideas and innovations and help entrepreneurs develop them into commercial success stories”, says Laatikainen.
Entrepreneurs are offered both free workshops and incubator programs, the content of which is tailored to the needs of the participants. Programs can be applied for by both active companies and those still in the conceptual stage.
In addition, the incubator is launching an exchange program for start ups where entrepreneurs can test their wings abroad. A regional private equity fund is also under planning, intended especially for early stage companies.
Students can also take advantage of the services of the incubator. The idea competition arranged with JEDU last fall produced a number of concrete business ideas from both students and staff. The incubator encourages people to bring forward their ideas, even more flamboyant ones. As the work progresses, new perspectives are often found, and the brightest diamonds are found by testing, experimenting, and pruning.
“The idea does not need to be ready for implementation right from the start. We assist in further developing it and provide realistic feedback based on calculations, which is always valuable to the entrepreneur”, Laatikainen states.
