SAMK invests in start-ups and supports young entrepreneurs
SAMK business incubator entity called Yrityskiihdyttämö, the Enterprise Accelerator, offers a wide range of services for start-ups, including financial services for new entrepreneurs. SAMK mentors give advice for new entrepreneurs on how to draft a business plan or a market analysis. SAMK invests in students’ companies and in companies in Satakunta region in general.
SAMK students Vilhemiina Riuttala and Ollipekka Kivin are clients of Enterprise Accelerator, they have enjoyed of the help of SAMK mentors and have met the criteria for start-ups to get an initial investment package.
– We support tech start-up companies as a part of other regional development projects. Young people may find an interesting workplace in these companies. Sometimes they move even far away to get a work experience in this type of companies, even up to Murmansk! Pori is lot closer to our students, says Santeri Koivisto, expert and mentor in start-ups.
There are three versions of SAMK financing model: first, there is a 5000 euro initial package for innovative minds who make an impact with a good business idea and personal skills. Secondly, there is a possibility to apply for financing from BusinessFinland or another investor. Thirdly, business angels could also support these companies.
Innovative ideas are selected on a discretionary basis and each request on financing is evaluated individually. The candidate must present a good business idea and a convincing plan to put the idea in practice. A cooperation agreement with an already existing company, a market survey or a prototype could have a positive impact on decision.
– In future, we should favor especially those companies that would employ more people than just the entrepreneur him/herself, Koivisto clarifies.
Initial investment in good hands
Ollipekka Kivin got an idea of creating the telemedicine centre called Kätevä. First, he planned to offer just a software but after Covid19 hit the sector, his idea changed into a real company offering health services at distance. Kivin used the money invested by SAMK to pay the authorization costs, to develop the software further such as an electronic authentication, a patient registry and an online chat service.
Kivin says he was surprised of how much work he had to invest in the project to navigate in the jungle of rules, but he is happy after all. Kivin underlines that SAMK has had a great positive influence in his life and entrepreneurship. He finds it very important that SAMK supports students and staff in business. He reminds us that a multidisciplinary team of 400 different professionals who teach at SAMK is a considerable pool of skills and knowledge.
He wants to create good conditions for health care professionals to work from distance. Telehealth service Kätevä will start working during this spring. In the beginning you can consult a general practitioner and a nurse.
An application to recognize a skin type
Vilhelmiina Riuttala founded a company called Skinr Ltd. Before beginning her entrepreneurial studies at SAMK Riuttala worked for her own company as beautician. Skinr Ltd. offers its’ clients an application that encourages to take care of the skin correctly. The application’s computer vision recognizes the skin type and possible skin problems from a selfie sent, recommends appropriate products and links the client to an online shop. The data collected on different skin types is analyzed at a skin clinic. There could be a wide interest in this innovation around the world.
– My aim is to design a mobile application which helps especially young people with their skin problems, and boost their self-confidence. Young people may not have enough money to consult a beautician or a specialist. I could cooperate for instance with the Finnish company Lumene or with the world’s biggest skin product company, L’Oreal”, dreams Riuttala. She is planning to use the SAMK initial investment money to build a prototype of the application and test it.
She says SAMK support has been remarkable. She thanks SAMK for concrete actions to help students, without that support she wouldn’t have got this innovative idea at all.
– SAMK supports entrepreneurship: Innovations and business activities are born at SAMK. We offer equal opportunities which encourage the whole SAMK community to create new ideas and models, she thanks.
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Senior Adviser (Startup Services)
tel. 044 710 3213