Startup Incubator, a new program aimed at helping startups, has spun off from Tallinn Science Park Tehnopol and begun accepting applications. The program is named Startup Incubator and it was set apart to serve startups better in a more focused way. The new program officially launched towards the end of January and they are now accepting applications from ambitious startups and teams. The takeaway for entrepreneurs is that they’re give more resources, coaching advice and seed capital.
The Startup Incubator site features 12 mentors that help companies get further in their track. Some names from the list are Mari-Liis Lind, Secretary General of Estonian Venture Capital Association, Yrjö Ojasaar, whom we’ve also had the honor to have in our ArcticEvenings in Tallinn as well as Peep Aaviksoo, who is the former CEO and President of the Estonian Mobile Phone company.
Below is a process dialog showing how Startup Incubator plans to help companies. Every year, they accept 20 companies into the program. Despite following a framework, the specific needs of startups are looked at in detail and no approach is similar, according to the people in charge.
Startup Incubator has also a long history of helping early stage companies. It claims to have the longest experience in the field and also the biggest client portfolio. Furthermore, they do not restrict themselves to ICT companies, but also look to help cleantech and life-science companies.
While it is great to see yet another incubator helping startups get further, Startup Incubator does not differentiate itself too distinctively from its competition in our opinion. Not only should incubators compete with local alternatives, but international opportunities as well. Startups from the Nordics and Baltics are global from day one and thus do not limit their options to those in the near proximity of them.
Therefore it would be great to see some unique distinction in Startup Incubator’s offering that would set them miles apart from their competition and in doing so, giving startups yet more real alternatives to grow their businesses.