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Nokia Technopolis Innovation Mill to be presented at the UK Nordic Baltic Summit in London

TECHNOPOLIS PLC        PRESS RELEASE         JANUARY 20, 2011 AT 11:00 AM

 

Nokia Technopolis Innovation Mill to be presented at the UK Nordic Baltic Summit in London

The prime ministers of the United Kingdom, the Nordic countries and the Baltic countries meet in London on January 19–20 to discuss a new kind of cooperation.The summit brings together the prime ministers of nine countries, business leaders, entrepreneurs, and policy innovators to openly discuss the challenges faced by the modern economies of northern Europe.

 

They will also discuss how best to boost wellbeing, equality, and economic growth in the prevailing financial situation.Technopolis CEO Keith Silverang will also participate in the summit. His presentation is called  ”Nokia Technopolis Innovation Mill: Using world class anchors to drive world class innovation.”

 

Established in May 2009, Nokia Technopolis Innovation Mill promotes the Finnish ICT cluster as well as finances and productizes Finnish ideas for the global markets.In the Innovation Mill, Nokia hands over ideas, licenses, and patents to the companies involved.Technopolis is the project coordinator and offers the participating companies business development services and more.The Finnish Funding Agency for Technology and Innovation (Tekes) and ten cities looking to promote their local businesses finance the project.

 

The three-year project has already – in a little over 18 months – succeeded in building a new kind of Finnish operations model for creating new businesses, products, and services. Furthermore, it has generated more than a hundred jobs and 19 new companies as well as obtained nearly EUR 10 million of venture capital.

 

According to Keith Silverang, the Innovation Mill shows how an idea that might go unused in a major corporation can, in the right hands and with proper support, be refined into a lucrative, interesting business.

“At the establishment stage, Nokia’s commitment greatly influenced the success of the venture.Now it is time to get other global enterprises involved. With cooperation we can generate a new national intent.A cooperation model like the Innovation Mill is a unique concept where financing and productization are effective and quick, generating new Finnish success stories in the long term,” says Silverang.

So far, a total of 29 financing decisions have been made through the Innovation Mill.The objective is to generate a hundred business projects.In fall 2010, Nokia Technopolis Innovation Mill won the annual Finnish competition Tuottava Idea 2010 (the Most Lucrative Idea of 2010).

 

 

Technopolis Plc

Keith Silverang
CEO
Tel. +358 40 566 7785

 

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