The EU Central Baltic Interreg funded Talsinki Metropolitan Incubation project has ended after three years of joint work developing regional startup relations between Tallinn and Helsinki. The participating clients from Finland and Estonia have created beneficial contacts and received valuable information about business development, sales, pitching and fundraising through intensive coaching and training. Selected client companies attended Slush, Arctic15, Tartu Startup Day and Latitude59. Besides these major start-up events held in the region, pitching and team building events were organized in partnership with EstBAN, FiBAN, and NewCo.
Spinno served 45 start-ups or start-up teams during the project. These start-ups succeeded in raising a total of 7,5M euros of external funding to develop their businesses. Public funding accounted for 4,5M euros and private funding (angels, VCs) accounted for 2,8M euros. The share of crowdfunding was close to 300k euros.
The strong results on funding show that Spinno has performed well on its core mission and that the Talsinki project has been successful even if some of the ambitious targets set for the number cross-border investments and cross-border teams were not met. During the remaining reporting phase, Spinno and other project partners of Talsinki will finalize reports of the outcomes and best practices to the financiers and stakeholders.