New CEO boosts the company's venture capital and growth entrepreneurship

As of the beginning of March, William Cardwell, B.Sc., MBA will take over as
CEO of Technopolis Ventures Oy. Cardwell is currently serving as Partner for
Conor Venture Partners. Technopolis Ventures is a wholly owned subsidiary of
Technopolis Group specializing in business development and technology
incubation services. 

Cardwell has a strong background in management, venture capital and investment
banking, as well as research. His posts have included work as CEO of the
software company Valimo Wireless, as well as posts with the VC Eqvitec Partners
and the Helsinki School of Economics. Cardwell, who is an American, has lived
in Finland since 1996. 

Technopolis Group CEO Pertti Huuskonen says that Cardwell will significantly
enhance the entire Group's growth strategy with respect to rapidly growing
technology companies, in addition to adding significant value to the
development of the Technopolis concept. 

"We're thrilled to have been able to attract a world-class professional like
Will Cardwell to this job", says Huuskonen. 

Technopolis Ventures is Finland's largest business development and technology
incubation chain. Its Chairman, Keith Silverang, says Cardwell will bring
world-class know-how to the company and its customers. 

"Cardwell has 15 years' experience working as a VC and with start-ups. He also
has direct contacts with international risk financers, corporations and other
partners and customers. Will is just the right person to lead Technopolis
Ventures at just the right time", says Silverang. 

"Will has what it takes to push Technopolis Ventures to the next level as a
world-class start-up developer, and since the financing of both technology
incubators and hi-tech start-ups is evolving toward an increasingly
market-driven model in Finland, the timing for this move couldn't be better",
says Silverang. 

Cardwell himself emphasizes that Technopolis Ventures' most important task is
to help companies develop, grow and internationalize rapidly. 

"We still have work to do in optimizing our service range for this mission and
our aim will be to refine our services to meet the changing needs of our
customers and markets", says Cardwell. 

Cardwell wants in particular to underline the importance of matching growth
companies with VCs and enhancing the attractiveness of clients in the eyes of
risk investors. 

The current CEO of the Technopolis Ventures Group, Martti Elsilä, will carry on
as CEO of Technopolis Ventures Oulutech, in addition to managing Technopolis
Ventures' relationships with public sector financers, as well as the
integration of new business units on a national basis. 

For more information:

Technopolis Plc,
Keith Silverang, +358 40 566 7785

William Cardwell, +358 40 514 1325

Technopolis Ventures Oy is a wholly owned subsidiary of the Technopolis Group.
The company is Finland's largest provider of business development and
incubation services for technology and knowledge-based growth companies. Over
180 clients participate in the company's development programs in the Capital
Area, Tampere, Oulu, Jyväskylä and Lappeenranta. Technopolis Ventures works in
close cooperation with its partners to find and develop world-class business
ideas and supports young growth companies from start-up to growth and

In terms of the number of customer companies, Technopolis Plc is one of
Europe's largest technology centers. The Technopolis Group is Finland's largest
specialized provider of operating environments for high tech companies, and it
offers a comprehensive service package combining modern premises and business
and development services. Technopolis operates or is building technology
centers in Espoo, Helsinki, Jyväskylä, Lappeenranta, Oulu, Tampere and Vantaa
in Finland, and in St. Petersburg in Russia.