Urban Innovators Meetup by FinEst Centre

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Urban Innovators Meetup: Greater impact leads to higher returns

On May 16, we hosted a networking event for urban innovators in Estonia, specially tailored for deep and green tech companies, investors, and researchers. We were happy to welcome over 40 participants, all involved in smart city and deep tech innovation initiatives, developing deep or green tech solutions, or seeking to broaden their product portfolios.

Here’s a recap of the collaboration opportunities we introduced and key takeaways from a fascinating discussion with industry experts. The discussion focused on deep tech company developments, engaging investors, and bringing great research and initiatives from universities to market.

International research and development projectsInternational research and development projects

Smart City Challenge: 3.7M euros to solve urban challenges with cities, researchers and companies

Külle Tärnov, Head of Innovation and Piloting Program at FinEst Centre, introduced the 4th round of our Smart City Challenge, explaining how companies can benefit. Through the Challenge, we aim to validate and develop four innovative ideas and initiate pilot projects that address complex urban challenges. These projects will result in scalable solutions that enhance the overall quality of life in cities.

Cities, counties, and campuses internationally have submitted 35 urban challenges. Now, we need solution ideas to address these challenges, which include energy efficiency, circular economy, city maintenance and planning, urban mobility, and people-centered urban environments.

On May 29, we will host a workshop where those who submitted challenges will introduce them. Those with potential solution ideas will have the chance to ask for specifics and create relevant connections.

We invite all researchers who could utilize their experience and research interests to solve real-life urban challenges, work with cities, and make a a great impact with their research.

Company representatives are welcome to join to see if any challenges match their services and to explore how researchers’ resources and collaboration with cities can be leveraged to develop new solutions.

International collaboration projects focused on ecosystem building: Metacities and FINEST Scaleup

Henry Patzig presented the Metacities project and concept, introducing a few real-life use cases of how virtual and augmented reality can be used for hybrid education facilities, meeting rooms, training engineers in virtual power plants, and remote control of power plants.

Project team will host a session on May 31 to introduce further the Meta City concept and find use-cases that could be relevant for Estonia. You can register and join here.

Another new international project that FinEst Centre has an important role is the FINEST Scaleup project.

Introduced by Kaija Veskioja, the project aims to build a strong and inclusive deep tech ecosystem in the Baltic Sea Region, with a special focus on connecting deep tech companies with investors. Most of the events are scheduled to start in autumn in collaboration with Estonian Business Angels Network.

From research to market: Key insights from industry experts

We ended the stage time with a fascinating discussion, gaining valuable insights from industry experts.

Kädi Ristkok, CEO of Estonian Cleantech Association; Caroline Aruoja startup manager at TalTech’s technology transfer office; Ahmet Köse, CPO and co-founder of R8 Tech; and Taavi Veskimägi, Partner of 2C Ventures, discussed and shared their best tips, tricks, and experiences in building a deep tech company, assembling a balanced team, and finding and keeping investors.

Key takeaways from the discussion:

  • Simplicity: Engineers often complicate things, but it’s crucial to practice explaining concepts simply and clearly.
  • Diverse expertise: Trust is built on a well-rounded team composition. Teams with varied skills, knowledge, and experiences yield the best results. Combining different specialties—software, mechanical, AI, tech intelligence, and business management—can create powerful synergy. Teams from universities often excel in research but need business perspective. Involve business developers to understand market needs and develop a viable business model.
  • Investor relationships: Maintain strong relationships with both former and current investors. Investors who understand your business can significantly aid growth with their advice. Be consistent and clear in your communication with investors.
  • Impact and returns: Greater impact leads to higher returns. A scalable business model with a valuable offer to customers and environmental impact is crucial.
  • Unified venture body: Estonian universities are working on a unified venture body to provide a single gateway for investors to explore emerging projects.
How to utilize deep tech and green funds?How to utilize deep tech and green funds?

If you have ideas or requests for next urban innovators gatherings, contact us.

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The implementation of the pilot projects is financed by theFinEst Centre for Smart Citiesproject, funded by the European Regional Development Fund and the Estonian Ministry of Education and Research. 

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