"Harnessing the power of science-driven entrepreneurship is the quickest way to tackle urgent global problems, and thus we need more ways to accelerate science-based innovation," said Inka Mero, Founding Partner of Voima Ventures in a press release.
As part of the challenge, 30 companies will be selected for an online session where they will receive expert feedback for the commercialization of their idea while expanding their investor network, along with valuable mentoring and insights.
The top 8 teams will be selected to compete in a final round in front of a jury of investors and industry experts with e winning team receiving "a €1 million investment in a convertible note" and Voima Ventures' support.
Voima Ventures focuses purely on science-based and deep tech startups. In June, Voima Ventures announced its third fund of €90 million to continue supporting Nordic and Baltic science-based startups.
“Science-based innovation is a crucial driver of new economic growth and a way to build European technology sovereignty. As we move forward, we believe that technology and science-based companies will form the backbone of the Nordic and Baltic regions’ economic growth and talent attraction. To get there, we urgently need collaboration and support from all corners of society and diverse ways to support people who are building these solutions from early on,” said Mero.
“We're committed to developing and nurturing a world-class ecosystem in the Nordic and Baltic regions, unlocking their immense potential to emerge as a global epicenter for science-based deep technology.”
The contest is open for applications from today until November 28th, 2023 on voimaventures.com/velocity/