Startup sauna overview
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Startup Sauna connects the most promising startups from Northern Europe and Russia with experienced serial entrepreneurs, investors and media from around the world. In practice, Startup Sauna consists of three different operations: 1) an internship program for university graduates to intern at high-growth companies in Helsinki and Silicon Valley. More than 100 interns have been employed through the program to date 2) an accelerator program for early-stage startups from Northern Europe and Russia, where the startups get coached by experienced serial entrepreneurs and investors in an intense one-month program in Helsinki. More than 90 companies have graduated from the program since 2010 3) the SLUSH conference, which brings together the early-stage startup ecosystem in the region to meet top-tier venture capitalists and media from around the world. In 2012, SLUSH gathered more than 3.500 attendees, 550 companies and 250 investors and journalists for two days in Helsinki Startup Sauna is physically located in its own co-working space found on Aalto University's campus in Espoo, Finland, which is where many of the events and programs also take place.
Transcript of Startup sauna overview
How Startup Sauna changes the Finnish startup ecosystem
• Empowering talent. Startup Sauna internship program has employed
100 interns to high-growth companies in Helsinki, Europe and the US.
• Building quality startups. Startup Sauna pre-seed program has coached
more than 500 companies and graduated a total of 90 companies in
2010-2013
• Building dealflow. Slush has become one of the leading startup events in
Europe with more than 300 investors and 50 international VC funds in
2012.
Startup Sauna Internship
We created Startup Life to help the brightest
students at Aalto to reach their full potential.
- Kristo Ovaska, co-founder of Startup Life
Startup Sauna Internship
• Startup Sauna internship (incl. Startup Life) employs the most talented
university students, researchers and post-graduates in international high-
growth startups.
• There’s an ongoing application period to intern at companies in Helsinki,
Silicon Valley and New York with over 150 positions currently open.
• More than 100 interns have been employed to date, around half of which
in Finland and the other half mostly in the US.
Startup Life Demographics 2011-1/2013
Aalto University
42% School of Science
23% School of Business
8% School of Engineering
23% School of Art and Design
54% technical
27% business
19% designers
Startup Sauna Internship Impact 2011-1/2013
27% 80% previous startup experience working at startups 6 months after
the internship
6 companies founded by alumni, Incl.
Kippt, HealthPuzzle and Caktus
Startup Sauna program
How does the Startup Sauna program work
• Startup Sauna organizes 10-15 local coaching events every spring and fall to map out the deal flow in Northern
Europe and Russia, driving applications to the program.
• Following the local events, 20 most promising startups are invited to Helsinki to get coached by experienced
serial entrepreneurs and investors.
• Each program contains a closed investor event, where the companies are set up in one-on-ones with local
angel investors and international VCs to gather feedback.
• Slush is organised every fall to attract a larger pool of international VCs and media to the region, as the
competition for their attention is tight on a European level.
• After each program, 10 most relevant companies are taken to Silicon Valley to meet with the local investors
• Main focus in the Nordics,
Baltics and Russia
• In addition, local events
focused on promoting the
region, organized also in New
York, Los Angeles, San
Francisco, Beijin, Shanghai and
Tokyo
Startup Sauna tour 2013
2 Months 1 Month 1.5 Months 0.5 Month
Local coaching events
in 10-15 different cities
Intensive part for 20-30
most promising
startups
Investor meetings in
Silicon Valley
Best 10-20 get 40K
option and continue
Investor day in the end
of the program
How does the Startup Sauna program work
1400 applied 500 coached 100 admitted 90 graduated ( 20M raised)
Key performance indicators 2010-2013
Key performance indicators 2010-2013
• Since 2010, Startup Sauna has run seven batches, attracting a total of 1041
applications. 90 companies have graduated, raising over 20M in funding.
• More than 50 local events have been organised in 18 different cities,
providing one-day coaching to 500 companies.
• These activities have received significant coverage in both domestic and
international media, including the likes of WSJ, The Economist and BBC.
• Startup Sauna has been noted as the leading young accelerator program in
Silicon Valley by UBI Index (June, 2013).
Startup Sauna Leading Young Incubator
Slush Conference
Key performance indicators 2008-2012
• Years 2008-2010: 300-500 attendees, 20-40 local startups, local angel
investors and VCs, mostly no media nor international investors
• Year 2011: 1500 attendees, 150 mostly local startups, 15 foreign venture
funds, Finnish media well present, small coverage in international media
• Year 2012: 3500 attendees, 560 startups, 41 foreign venture funds, 50-60
articles on international media, around 40-50% international companies
• Year 2013: 5000 attendees, 1000 startups, 100 foreign venture funds, 200-
300 articles on international media, 70% international companies
press.
