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Finland’s Top 9 Startup Accelerators & Incubators [2023]

Are you looking for capital and/or mentorship for your startup? Beyond funding, Finland’s startup accelerators and incubators also offer founders incredible valuable support for product development, sales and marketing.

Whether you are looking to find a co-founder, build your MVP and/or get the seed money you need to scale up, accelerators and incubators are the way to go.

In this article we have listed our top picks for Finland’s best startup accelerators and incubators. So, if you haven’t yet started to apply, here is a good place to start learning about them.

This article is part of a series where we present you the top startup incubators and accelerators across Europe. Check out our rankings for the UK, France, Germany, Netherlands, Denmark, Ireland, Italy, Norway, Austria, Spain, Sweden and Switzerland.

Finland’s Top 9 Startup Accelerators & Incubators

Here’s a summary of our top 9 picks of the best startup accelerators and incubators in Finland (in alphabetical order):

Name# alumni startupsProgram lengthInvestment sizeSector focus
Boost TurkuN/A3 – 8 weeksUndisclosedSector agnostic
Energy Spin4010 weeksUp to €1 millionEnergy Tech
Founder InstituteN/A4 monthsNone *Sector agnostic
Kiuas270+10 weeksUndisclosedSector agnostic
NewCo100+6 monthsUndisclosedSector agnostic
NordicXR Startups146 months€100,000VR, AR
Red Brick246 – 12 weeksUndisclosedSector agnostic
Terkko187 weeks€2,500Health Tech, BioMed
XEdu723 monthsUndisclosedEdTech

* Founders Institute doesn’t provide any funding. Instead, startups must commit 4% to the Founder Institute Collective to participate in the accelerator (see more on that here)

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1. Boost Turku

Boost Turku is a Finland-based accelerator that’s been helping grow startup companies in Finland since 2009.

They have 2 separate programs: a 3 weeks pre-accelerator for idea stage founders, and a 8 weeks accelerator program for those who already have a MVP and/or a clear business plan.

While you’re in their acceleration program you will be coached by business professionals who have years of experience, you’ll be given office space for free and be introduced to VCs and business angels for your seed funding rounds.

Unlike other accelerators, what’s great about Boost Turku is that it is free to participate to both their programs. Indeed, they don’t require any payment, nor do they take any equity in return.

2. Energy Spin

EnergySpin is a newly established start-up accelerator in Finland. Founded in 2017, they’ve created an innovative platform to share ideas and trends that transcended into an acceleration program to help startups get off the ground.

During their 10 weeks acceleration program founders are coached by seasoned industry experts and mentors. In addition to mentorship, startups also receive funding of up to €1 million.

3. Founder Institute

The Founder Institute is one of the most famous global startup accelerators. Indeed, with offices in over 200 cities and 65 countries worldwide, the Founder Institute has invested in over 5,000 startups to date.

Also, like any of their other chapters worldwide, their accelerator in Helsinki runs 4-month programs at the end of which graduate founders must commit 4% equity to the Founder Institute Collective (see more on that here).

4. Kiuas

Founded in 2017, Kiuas is arguably one of Finland’s top startup accelerators. Indeed, it has accelerated over 270 startups in less than 5 years.

Kiuas provides support for early-stage Finnish businesses with high potential for growth and scalability.

Apply to their 10 weeks acceleration program and enjoy lots of benefits such as collaboration with mentorship and business guidance, get office space, valuable business advice and perks, workshops, assistance in market entry, funding and connection-building opportunities.

5. NewCo

NewCo Helsinki is Finland’s premiere start-up accelerator and having been in the business since 1992, their experience is second to none.

Their portfolio has over 100 alumni startups that have gone through their acceleration program.

As the oldest business accelerator in Finland, NewCo Helsinki has amassed hundreds of industry experts who will also serve as the startup’s mentors.

You as one of the selected start-ups will get the chance of collaboration & networking opportunities, which will eventually lead to more prosperous future endeavours.

6. NordicXR Startups

Nordic XR Startups offers pre-seed and seed investment to start-ups with innovative projects on VR/AR (virtual reality/augmented reality) technology.

The qualifying start-ups will get the chance to join their 6 months acceleration program that will include benefits such as mentor workshops, business coaching, community meet-ups and office space.

In addition to these perks, companies also receive pre-seed and seed funding of up to €100,000.

7. Red Brick

Red Brick Accelerator is one of the later created accelerator companies in Finland, but is coming out strong with 24 startups that have gone on since to be included in their alumni portfolio.

Like Boost Turku, what’s great about RedBrick is that it is free for startups to participate to their programs. Indeed, they don’t require any payment, nor do they take any equity in return.

Moreover, Red Brick actually offers 2 separate programs: a 6 weeks “pre-accelerator” for idea validation as well as a 12 weeks accelerator program for startups that already have a business idea but need to find product-market-fit.

8. Terkko Health Club

Terkko Health Hub is Finland’s only start-up/accelerator that amalgamates startups, universities, libraries, accelerators and individuals who have one thing in common: passion for health and life sciences.

Their 2 months acceleration program gives start-ups a €2,500 grant from Helsinki Think Company Fund for accommodation and co-working space (seed funding is granted separately).

Since 2019, they have already accelerated 18 startup companies (in different 3 cohorts).

In addition to the 2 months accelerator program, it’s worth noting that Terkko also offers a separate 3 years incubator program for research-based early-stage companies that need lab space and equipment.

9. XEdu

xEdu is also another unique startup accelerator in Finland. Indeed it’s the first and only Edtech startup accelerator in Finland. In total, xEdu has accelerated 72 startups and helped them raise over €15 million in funding to date.

Once you’re accepted in their 3 month intense acceleration program, you will receive coaching, mentorship, resources for research & development (R&D) as well as access to networking events with industry experts. 

Expert-built financial model templates for tech startups

📈 5-year pro forma financial model

📊 20+ charts and business valuation

📞 Free support