Startup Foundation is a company.
Key people at Startup Foundation.
Startup Foundation was founded by Moaffak Ahmed (Co-founder and Chairman of the board) and Miki Kuusi (Co-founder & CEO).
Startup Foundation was founded by Moaffak Ahmed (Co-founder and Chairman of the board) and Miki Kuusi (Co-founder & CEO).
Key people at Startup Foundation.
Startup Foundation is a Finnish non-profit grant-making foundation established to foster the next generation of entrepreneurs and strengthen the local startup ecosystem. Founded in 2012 by 57 prominent Finnish technology influencers, entrepreneurs, and investors, its core mission is to create more entrepreneurs and companies, promote a startup mentality, and support growth and internationalization through targeted grants and backing for ecosystem initiatives.[1][2][3] It operates as a "silent backbone" for major events and hubs like Slush, Maria01, and Junction, while directly funding individuals and projects aligned with building a diverse, successful startup landscape in Finland, including a long-term goal of 100 Finnish startups achieving over €100M in revenues by 2050.[2][3]
A key focus is on student-driven entrepreneurship societies (ES), which it views as launchpads for risk-taking, problem-solving, and skill-building among students, contributing to ecosystem development post-Nokia's decline.[5] With 1-10 employees led by CEO Josefiina Kotilainen, it bootstraps operations in the education and community sectors, emphasizing B2C and marketplace models without seeking external funding.[1][4]
Startup Foundation emerged in 2012 from Finland's startup ecosystem itself, founded by 57 key players—including technology influencers, entrepreneurs, and investors—who aimed to "give back" by nurturing a new wave of founders amid the country's post-Nokia need for innovation and job creation.[1][2][3] This collective effort was inspired by the void in entrepreneurial culture, particularly in tech hubs like Oulu, where early initiatives like OuluES (founded in 2011) sought to spark deep-tech startups through mentoring and events, leading to successes like Oura.[5]
The foundation's evolution has centered on grant-making for not-for-profits, individuals starting entrepreneurial journeys, and student-led groups, evolving from broad ecosystem support to targeted impact on entrepreneurship societies as critical talent pipelines for operators and employees in high-growth companies.[1][2][5] Under CEO Josefiina Kotilainen, it has produced impact reports highlighting ES contributions, such as over €1.1B in combined funding and €750M in revenue for supported ecosystems by 2022.[5]
Startup Foundation rides the wave of Europe's burgeoning startup renaissance, particularly Finland's pivot from Nokia-era hardware to a vibrant deep-tech ecosystem featuring unicorns like Oura and events like Slush that draw global attention.[1][5] Its timing capitalized on 2012's post-crisis momentum, when local players recognized the need for grassroots entrepreneurship education to counter talent drain and foster internationalization amid rising VC interest in Nordics.[2][3]
Market forces like government innovation incentives, EU funding for SMEs, and a cultural shift toward startup mentalities amplify its grants, influencing the ecosystem by seeding diverse founders and scaling hubs that produce operators for successes generating billions in value.[5] It shapes Finland's landscape as a talent factory, bridging student risk-taking to professional wins and positioning the country as a deep-tech exporter.
Startup Foundation is poised to deepen its ES investments amid AI, deep-tech, and sustainability booms, potentially accelerating its 2050 goal as Nordic unicorns multiply and global founders seek Finland's stable, high-talent environment. Trends like hybrid education-tech platforms and founder diversity will shape its grants, evolving its influence from silent supporter to vocal architect of Europe's next startup wave—ultimately proving that ecosystem-born foundations can sustain generations of high-impact entrepreneurship.[3][5]
