- News article -

Spinverse acquires Innovation Mill-accelerator

26 Sep 2013

Finnish innovation consultancy Spinverse strengthens its service portfolio by acquiring Open Innovation Management Oy. By acquisition Spinverse begins operating the Innovation Mill-accelerator, which commercializes large corporations’ unused ideas and innovations. The accelerator started as cooperation between Nokia, Tekes and Technopolis and during the four years of operation it has created 70 new companies and 650 new jobs.

Spinverse prepares and coordinates national and international innovation programs, organizes innovation funding for its industrial customers and consults growth companies in business development. Spinverse was founded in 2004 by ex-Nokia director Pekka Koponen and after the acquisition employs over 30 people in Finland, Russia and China.

Innovation Mill accelerator program commercializes large corporations’ unused innovations that are not within the core of their corporate strategy. Together with the corporations, Innovation Mill seeks the founding team, service providers and early stage funding. The program started in 2009 as cooperation between Nokia, Technopolis and Tekes. Nokia Solutions&Networks, Fortum, Metso, Kemira, Wärtsilä and Ruukki are also involved in the program.

“By combining the services of Spinverse and Innovation Mill, we can serve the innovation development of large technology companies better. Companies created in Innovation Mill program will get more comprehensive and long-term support in business development and follow-on funding. Structural change in the industrial sector continues and new ideas and vacant experts enter the market. If Finland has the desire to develop and fund these projects, we have a great future ahead of us”, says Pekka Koponen, CEO of Spinverse.

For further information, please contact:

Pekka Koponen
CEO, Spinverse Oy
Tel. +358 40 545 0008
pekka.koponen@spinverse.com

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