Talsinki Metropolitan Incubation

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The Talsinki Metropolitan Incubation project aims to facilitate the creation of 30 new joint Central Baltic knowledge intensive companies and co-operation between them in the Tallinn-Helsinki area through a network of partners who develop and implement an integrated incubation service that addresses regional startup ecosystem goals and utilizes common resources. The co-operation addresses four business verticals: ICT, healthtech, cleantech and creative industries. Each partner will focus on said verticals to accommodate regional development strategies (e.g. smart specialization). A shared process for incubating and accelerating new companies will be developed around a common model of start-up development phases (Appendix 1). The parties will map existing programs over these phases, compare and benchmark specific services provided by the partners and assess the needs of new knowledge intensive companies for new services and benefits of cross-border collaboration. The assessment will be followed by establishing relevant procedures to develop cross-border teams. Service design methods and rapid experimentation will be utilized in working together and in introducing new services. The target is to serve new entrepreneurs significantly better than through individual offerings. The integrated process will lead to a) better validation of start-up ideas and teams through sharing of dealflow and information, b) availability of more specific expertise through sharing of advisors, mentors and coaches, c) stronger teams through matchmaking of people, ideas and seed investors across the region. The need to develop a joint incubation model and process is driven by growing global competition and limited local resources. The co-operation focuses on a compact area of Tallinn-Helsinki where the cost of joint operations and doing business cross-border is minimal. The budget for the project is € 1.458.229,30.

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