The Fund has proactive focus on companies utilizing digitalization, new forest-bio economy products and services, new materials and innovative technologies. There are no industry restrictions on the companies invested in the Fund. Target company shall be located, be willing to locate or have some operative connection to Joensuu region.
Size of the fund is 2.5 M€ and typical investment is 50.000 – 200.000 €. The Fund operates closely with business accelerator and internationalization services of Business Joensuu to support domestic and international growth of the invested companies.
The Fund can also act as a gateway to further investment rounds. The Fund operates in co-operation with local and national investors and North Karelia Growth Fund, which invests in recently established and young companies of the region. Business Joensuu Oy is a member of FiBAN, Finnish Business Angel Network.
StartUp Fund Joensuu is operated by Business Joensuu Oy. FIN-FSA (Financial Supervisory Authority) registrated name: Start-Up -rahasto Joensuu Ky, registrated November 2019.
For further information contact
Fund Manager & Growth Coach
+358 50 406 8716
CEO of Business Joensuu, Chairman of the Board of the Startup Development Joensuu – Investment Fund
+358 400 380 130
Investments made by the fund since 2019
Kodia Oy is a supplier of the rental management system established in 2019. Kodia’s mission is to innovate and implement advanced housing solutions for the industry through digitalization.
In the spring of 2022, the growth company Kodia arranged a share issue. Start Up Fund Joensuu participated in the financing round with EUR 100,000. In addition to the Start Up Fund Joensuu, Kodia will be invested in by, among others, Master Group Ltd and the investment company Karvest, as well as the current investor and founding shareholders. Read more.
Redkik is a global Insurtech start-up with the mission to transform and improve the insurance industry for all parties within logistics and transportation.
StartUp Fund Joensuu invested in Redkik together with North Karelia Growth Fund managed by venture capital firm Redstone and business angel Ilari Schouwvlieger. Read more.
Vaki Ltd., which is known by its brand name Vaki Games, is a gaming company established in 2016. The company currently employs 9 part-time and full-time employees. The company’s game by the name of Kingshunt (kingshunt.com) is an online multi-player game that will feature action and strategy. The game will be published in spring 2021.
Start Up Development Joensuu – Investment Fund has invested EUR 100,000 in the company, of which EUR 50,000 is conditional and linked to the performance indicators agreed on for the game’s launch. Read more.
Fiuge Oy is a crowdsourced and community-based delivery service that operates in the Helsinki region, Kirkkonummi, Turku, Pori, Lappeenranta, Mikkeli, Savonlinna, Kajaani and Porvoo. The service functions as a mobile application and on the website, and its clients include B2C and B2B companies. The purpose of the service is to make deliveries as flexible, affordable and ecological as possible.
Startup Development Joensuu will be investing EUR 100,000 in Fiuge. The company has also received funding from Gorilla Capital Ky and the Joensuu-based company Timonen Auto Oy. The Centre for Economic Development, Transport and the Environment has provided funding of approximately EUR 750,000 for service development and launching operations. Read more.
Established in Joensuu in 2009, Hypermemo is a company developing a unique carbon dioxide laser (CO2 laser) solution. At the moment, the company employs five people in its new production and development facilities in Joensuu. The company is based on a technology developed by Russian-born Vadim Kiyko. Its development started at the Russian Academy of Science and continued in Joensuu.
Hypermemo Ltd has received an investment of EUR 100,000 from the Startup Development Joensuu – Investment Fund which operates via a subsidiary of Business Joensuu. The investment will accelerate the company’s growth and enable new capital investments. Read more.
Niekka (eBike Finland Oy)
Niekka (eBike Finland Oy) will produce high-quality Finnish bicycles under the NIEKKA Bicycles brand in Outokumpu. Business Joensuu encourages the company’s growth as an investor through the Start Up Fund Joensuu.
ebike Finland organised a share issue at the end of 2021. Business Joensuu’s Start Up Fund Joensuu participated in the funding round with EUR 112,500, for which it received 22.5% of the company’s shareholding. Through the issue of shares, the company collected EUR 187,500, plus a loan that is 70% guaranteed by the European Central Bank. Read more.