Kasvun Roihu

Kasvun Roihu, based in Jyväskylä, Central Finland, Finland, developed and operated growth programs for startups and SMEs, providing free sparring, coaching, and networking for business growth and internationalization. The organization connected companies with partners, investors, and markets through initiatives like Kasvu Open, Grow to Market, and Grow to USA. Innovestor acquired 50% of Kasvun Roihu shares in spring 2018, completing a full acquisition by summer 2019 and renaming it Innovestor Ignite Ltd. Kasvun Roihu was a shareholder in Kasvu Open Oy, with Innovestor holding 25% alongside Central Finland Chamber of Commerce (51%), City of Jyväskylä (14%), and Aava & Bang (10%). Matti Härkönen served as CEO. Founding details are not publicly available. Its business model centers on operated as a growth program builder, acquired by Innovestor, shifting from partial ownership to full subsidiary providing corporate venturing services, involved in non-profit Kasvu Open Oy as shareholder and organizer.

Kasvun Roihu was a Finnish growth-program and internationalisation services company that ran targeted accelerator-style programs (notably the “Grow to USA” program) and helped SMEs scale and enter foreign markets; it was acquired and integrated into Innovestor’s growth and corporate venturing activities beginning in 2018–2019[1][3][4].

High-Level Overview

• Concise summary: Kasvun Roihu operated as a Finnish growth-program operator and organiser of Kasvu Open–related sparring activities, running programs that helped small and mid-sized Finnish companies scale, internationalise (for example to the U.S.), and access investor and corporate networks[4][7][8]. The organisation also participated as a stakeholder in the Kasvu Open non‑profit growth sparring platform for SMEs[2][7].
  - If treated as an investment‑ecosystem actor (not a fund): Mission — to help Finnish SMEs and growth companies scale and enter international markets through curated growth programs and matchmaking with investors and partners[4][7]. Investment philosophy / model — program‑led, network and sparring driven support rather than direct fund investing; later integrated into Innovestor’s venture and corporate venturing services to combine program-building with VC and co‑investment capabilities[1][3]. Key sectors — broad, SME and scaleup focus across tech and industry verticals that benefit from internationalisation (examples include health/tech companies that participated in Grow to USA)[6][8]. Impact on the startup ecosystem — provided practical market-entry programs (Grow to USA), curated sparring (Kasvu Open partnership), visibility for winners (e.g., Silicon Valley / Nasdaq exposure) and connections between Finnish SMEs, investors and corporate partners, later folded into Innovestor to scale those services across the Nordics[7][1][3].

Origin Story

• Founding / evolution: Kasvun Roihu operated as a Finnish firm running growth and internationalisation programs and was an early organiser/producer of the Kasvu Open sparring movement (Kasvu Open later becoming its own non‑profit entity with Kasvun Roihu among stakeholders)[2][7].
  - Key moments: The company became known for the Grow to USA program that took selected Finnish growth companies to the U.S. for market validation, investor meetings and promotional activities (participants include companies profiled as benefiting from the program)[4][6][8]. In 2018–2019 Kasvun Roihu was acquired and integrated into Innovestor’s group (becoming part of Innovestor Ignite / corporate venturing and program services), marking a pivot from an independent growth-program operator into Innovestor’s combined ecosystem services[1][3].

Core Differentiators

• Program expertise: Ran focused internationalisation programs (e.g., Grow to USA) that combined coaching, investor/corporate meetings and promotional exposure in target markets[4][8].
  - Partnership network: Close ties with the Kasvu Open sparring platform and partners such as chambers of commerce, regional development actors and corporate partners that enabled broad SME outreach and event programming[2][7].
  - Track record of outcomes: Delivered tangible outcomes for participants — company showcases, U.S. market visits, Nasdaq / Silicon Valley visibility for selected companies — which helped participating startups raise attention and business development opportunities[6][7].
  - Integration into a larger VC/ecosystem operator: Acquisition by Innovestor broadened the offering by combining program-building with venture capital, co‑investment and corporate venturing services, increasing scale and investor connectivity[1][3].

Role in the Broader Tech Landscape

• Trend alignment: Kasvun Roihu rode the trend of program‑led-market entry support and ecosystem orchestration for SMEs — helping domestically successful companies take disciplined steps to international markets when direct local capital or corporate pathways were limited[4][7].
  - Timing and market forces: Finland’s strong innovation base and desire to internationalise SMEs created demand for curated outbound programs; the prominence of Kasvu Open and public–private stakeholder support amplified reach[2][7].
  - Influence: By organizing nationally visible sparring programs and international delegations, Kasvun Roihu helped professionalise SME growth practices in Finland and plugged local companies into investor networks and corporate partners; its integration into Innovestor helped scale those effects via VC and co‑investment channels[1][3].

Quick Take & Future Outlook

• Short-term outlook (post-acquisition): After being brought into Innovestor (2018–2019), Kasvun Roihu’s program capabilities were continued under Innovestor Ignite / corporate venturing services, suggesting the model’s persistence but now delivered at larger scale with tighter links to VC and co‑investment[1][3].
  - What will shape the journey: Demand for international market‑entry support, continued public–private collaboration (Kasvu Open stakeholders), and VC-backed ecosystem building in the Nordics will determine how program-led support evolves; combining practical sparring programs with investment flow (as Innovestor has pursued) is a likely path.
  - Influence evolution: The core legacy of Kasvun Roihu is its program model and network; under Innovestor that legacy is likely to continue influencing how Finnish and Nordic growth companies access capital, partners and targeted market‑entry programs[1][3].

If you want, I can:

• Compile a timeline of Kasvun Roihu’s major programs, partnerships and the acquisition milestones with citations.
  - Produce a short list of notable alumni companies from Grow to USA and Kasvu Open with outcome summaries.