Helsinki Innovation Services Ltd (HIS), the research commercialization arm of University of Helsinki, announced a first-of-its-kind partnership with Xinova, a global innovation leader, opening access to international markets for Finnish technology.
The partnership utilizes Xinova’s unique innovation network to connect Helsinki University research groups and spin-outs with international investors, development experts, and commercial partners.
“Venture capitalists are few and far between. Even fewer of them have the skills, experience, and contacts required to boost new companies onto the global market. Xinova’s contacts open exciting opportunities to reach international investors and to find key personnel and partners for newly established companies,” says Jari Strandman, CEO of Helsinki Innovation Services, Ltd of the goals of the partnership.
Xinova’s extensive network opens global prospects
The University of Helsinki is the first European university to closely partner with Xinova, whose CEO, Edward Jung, is one of the world’s top inventors, holding 1000+ patents. He was chief architect throughout the 1990s for Microsoft’s R&D organization with an annual budget of over $4 billion. After leaving Microsoft he founded or co-founded over a dozen companies, including Terrapower, Kymeta, Vigilance, and Benemilk. He started the Xinova model in 2005 in Asia.
“Finland has long been recognized for its research and innovation excellence, and the University of Helsinki is one of the world’s leading research institutions. This partnership will internationalize more of these transformative ideas to positively impact the lives of millions,” says Jung.
"This partnership will internationalize more of these transformative ideas to positively impact the lives of millions"
The University of Helsinki has already seen the fruits of cooperation with Xinova, who helped recruit CEO Michael Stein for Valo Therapeutics, a company developing a cancer vaccine in Finland. Xinova’s team also helped Valo find investors for one of its funding rounds. University of Helsinki spin-out companies will continue to be established in Finland with the benefit of more international investors and globally-tested models of commercialization. For example, Chris Somogyi, senior vice president, developed a method for evaluating innovation and investment timing informed by decades of experience around the world that he articulates in this video.
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