1. Vigo Venture Accelerators
Enabling Growth of High Potential Start-ups

2. 2
What is the Vigo Program?
• Vigo is a new type of acceleration program designed to
complement the internationally acclaimed Finnish innovation
ecosystem.
• The Vigo Program assigns selected independent accelerator
companies to provide drive, experience and financing
opportunities for high-potential Finnish start-ups.

3. 3
Key objectives
• The key objectives of the Vigo Program are to:
– Motivate the best business developers to help the most
promising start-ups grow into successful companies
– Ensure early stage funding for the target companies,
increase their shareholder value, and make them attractive
targets for venture investors
– Raise significant venture capital investments for continued
expansion of the target companies after the acceleration
stage
– Develop the Finnish venture capital market and bring more
international acceleration and venture capital players into
Finland

4. Program Governance and Execution
• The Ministry of Employment and The Economy (TEM) decided to start
The Vigo Program in March 2009 in cooperation with Tekes* and
Veraventure**.
• A Steering Group representing significant experience and expertise in
the international growth business was nominated by the TEM in August
2009.
• Tekes coordinates the program and Profict Partners Oy manages the
execution of the program.
*Finnish Funding Agency for Technology and Innovation
**Currently Finnvera VC (The VC part of Finnvera investing public funds in
early stage companies)
30. toukokuuta 2012

5. 5
Vigo Accelerators
• The Vigo Accelerators are private companies
that are run by experienced entrepreneurs.
• The Accelerators offer their proven business
expertise, funding, and extensive contact
networks to the target companies.
• The Accelerators invest both money and time
into the target companies and take on both a
strategic and an operative role in the
companies.
• The Accelerators have been selected from the
best applicants in their respective fields in a
public procurement process.

6. 6
Vigo Accelerators 1/2
Cleantech Invest
Clean tech ventures
BioAssetFinland BioAssetFinland
Life science, medical molecules
Gorilla Ventures
Ict relative solutions
KoppiCatch
Ict, mobile analytics
Lifeline Ventures
Life sciences,
telecommunications and games

7. 7
Vigo Accelerators 2/2
Newentures
”Radical inventions”, ict,
Royal Majestics
Fashion & lifestyle
Vendep
Web based businesses and services
Veturi Venture Accelerator
b2b ict

8. 8
How does Vigo work?
Company
Acceptance is
applies directly
based upon
to the The accelerator
eva-luation of
accelerator of invests time and The accelerator
the business
it’s choice. money and managers take
idea, team and
sui-tability of the becomes a a hands-on role
company for the shareholder in in operations
program. the company and biz
development Fast
Growth
1 2 3 4
. .
 The acceleration period lasts 18 to 24 months
. . 200
Descriptio
 The accelerators’ main revenue model is based on the growth in the
n
9
company’s value at the point of exit. Monthly fees may also be included in the
model.
 The companies are able to utilize Tekes’s and Finnvera’s funding (grants,
loans and investments).
 Total funding package (private and public) for the Acceleration Period varies
between 1 to 2 million euros.

9. 9
Great case stories!
Total portfolio more than 40 companies !

10. 10
Investors and VC’s
(portfolio companies and funds)
International investors:
MHS Capital
AMBIENT SOUND INVESTMENTS
Domestic investors:
Troll Capital
Juuranto Invest Kasvurahastojen rahasto

11. 11
Angel Investors

12. 12
Esther Dyson
Esther Dyson is an active angel investor in a
variety of start-ups, for-profit and otherwise,
around the world. She also operates as the
Internet’s court jester, a person of no institutional
importance who somehow manages to speak the truth and to
be heard when and where it matters. She does business as
EDventure, the reclaimed name of the company she owned for
20-odd years before selling it to CNET Networks in 2004.

13. What’s in It for Me?
• For investors: • For the accelerators:
• Professionally qualified • Significant public leverage in target
opportunities company financing
• Experienced and committed • Financial returns with successful
management teams exits
• High leverage initial funding (R&D • Rewarding and challenging career
and BD grants& loans) options
• For start-up companies: • For the community
• Business competence • Jobs and tax-payers
• Experience • Wealth and prosperity
• Drive for growth
• Customers, contacts and further
financing
>> Accelerated growth, increasing value

14. If You Are a Foreign High Potential Start-up
Looking for Fast Growth and…
• Need experienced hands-on strategic and operative
guidance/support
• Need funding to make it all happen and…
• Are flexible to accept outside (venture type) equity funding
• Are willing to relocate (some of) your operations to Finland
…teaming-up with a Vigo AcceIerator might
be the best option for you!
• You can start by checking out www.vigo.fi and …
• We can help you to get going!

15. 15
Excellent Results After the First 20 Months
• Currently 9 accelerators with totally 30 managers working
hands-on with start-ups.
• Total portfolio over 40 high potential start ups assigned in
accelerators
• Good deal flows and active process in accelerators to grow
portfolio and develop the companies.
• More than 70 m€ raised (31Dec2012), 60% private (one third
of which is foreign private capital)
• First international A-rounds 2010, biggest so far 7 Meuros.
• First exit Zokem was aquired by Arbitron (US) for 11,7 MUSD
• Two microfunds raised with more tha 5 m€ commitments.
• First significant accelerator fund raised in March 2012, 20 m€.
• Several hundred new jobs created (direct and in-direct).
May 30, 2012

16. 16
Public and Private Funding in
Target Companies
Cumulative funding, M€
May 30, 2012

17. 17
Cumulative, M€
Funding by Source in Target Companies
May 30, 2012

18. 18
Distribution of Cumulative Funding
in Target Companies
May 30, 2012

19. S a t is f a c t io n w it h C o o p e r a t io n
b e t w e e n S t a r t -U p s a n d V ig o
A c c e le r a t o r s

20. A c c e le r a t o r s Im p a c t in
K e y B u s in e s s A r e a s o f
S t a r t -U p s

21. 21
Future
• Enhancements
– More accelerators
– More startups into portfolios
– Accelerator funds
– Connect and strengthen deal flows
• Strengthen international network
– Create awareness and visibility for start-ups, accelerators and the program
within selected communities
– Maintain quality (program, accelerators, target companies, deal flow)
– Invite and attract (through results) investors, VC’s and accelerators
– Strengthen exchange of information and experience with leading
international programs
• Renew and invigorate early stage financing
• Make Helsinki The Accelerator Hub of Europe
May 30, 2012

22. 22
Thank you!
For more information:
www.vigo.fi