Innovation House Singapore provides a soft-landing hub for Finnish start-ups in Asia and a gateway for Asian entrepreneurs in Finland while simultaneously challenging traditional coworking spaces in Singapore.
SINGAPORE, March 13, 2019 /PRNewswire/ -- Singapore has become increasingly successful at creating an environment conducive for start-ups to thrive, leading it to be well-known as a leading start-up hub in not only Southeast Asia, but the world. Therefore, it comes as no surprise that Singapore has over a hundred co-working spaces offering their services to support the start-up boom. However, the co-working spaces often lack the concept of mutual friendship, trust, and community spirit that are vital to a start-up's success.
Innovation House Finland, co-founded by Petra Eratuli-Kola and Katja Aalto, aims to challenge established operators by catering to this pressing need through their holistic approach and notions of community bonding and genuine wellbeing. "Innovation House's long-term vision is to create a new culture of mutual collaboration and assistance between start-ups and corporations," says Eratuli-Kola.
After their success in Finland, Innovation House began to think about expanding into the Asian market and settled on Singapore, deciding to use it as base to open doors to other parts of Asia. Singapore was a natural choice, since it ranks amongst the most innovative countries along with Finland, providing a seamless link between Singaporean and Finnish start-ups. Innovation House Singapore is a joint venture with the Singapore-based Mercatus Capital, a home grown investment venture firm which has seed-funded more than fifty start-up companies in the Asia-Pacific market.
Earlier this year, Mercatus Capital launched a new initiative called Eight Mercatus which is a start-up platform unlike no other in Singapore. It provides the key elements start-ups need for growth, including connectivity, funding, recruitment and crucial mentorship from well-established business leaders, and important entrepreneurship training. It also provides start-ups with access to an extensive network of connections and its business know-how.
Eight Mercatus's Managing Director, Joanna Soh said the idea behind their venture is to support companies through their growth phases and help them scale quickly. "Our vision is to provide a well-rounded ecosystem which includes a conducive environment where entrepreneurs can come together, to engage and to share experiences. We wanted to create a special place for this and Innovation House concept of 'providing a business home' for entrepreneurs fitted beautifully with our vision." Through a mutual connection, a meeting was arranged between her and Innovation House Finland. Inspired by their similar goals, this venture was quickly set into motion.
Innovations House Singapore's CEO Pete Karumo, who has been living in Singapore for the past 15 years says, "The most pressing need for companies who come to Singapore are contacts and local business know-how." Innovation House, together with Eight Mercatus, is able to provide the services to help entrepreneurs get a strong start in Singapore because of Mercatus Capital's local knowledge and strong network in Asia Pacific. He further explained that because of the team's strong entrepreneurial backgrounds, they are able to understand the issues their clients face and introduce innovative solutions to overcome them. The combination of their services, local expertise and investment backing makes their concept unique, distinguishing themselves from other established operators.
Petra Eratuli-Kola, CEO of Innovation House Finland, receiving a banner from the lion dance of event
The 200-seat coworking space opens in Singapore's Blk 71 Launchpad @One-North, often known as the Silicon Valley of Singapore. The opening ceremony is on March 8th. Membership options include the use of coworking facilities with services, such as inclusion in the local networks, social media marketing and being part of a collaborative community. Members can also avail to Eight Mercatus services such as searching for financial channels and partnerships, marketing and branding, recruitment, legal and patent affairs in the Asian market.
Innovation House is Finland's fastest growing co-working concept that in only two years has expanded to host a community of more than 100 companies and over 600 members. The first start-up hub opened in Otaniemi, Espoo in 2017 and the second was opened in Kallio, Helsinki last September. Singapore will be its third and latest installation in 2019.
About Innovation House Singapore
A 200-seat co-working space in Blk 71 Launchpad @One-North, often known as the Silicon Valley of Singapore. Natural gateway between Asia and Europe, Innovation House Singapore facilitates exchanges and cross pollination of startups on an international scale.
About Mercatus Capital
Mercatus Capital is one of Singapore's top home-grown investment venture firms. Launched in 2006, it is an accelerator and incubator specialising in seed and start-up investments, with the aim to enable and propel early-stage companies to grow beyond their local markets. With over fifty businesses successfully funded and taken to market, Mercatus Capital has earned itself a formidable reputation in the Asia Pacific.
About Innovation House Finland
Finland's fastest growing co-working concept that in only two years has expanded to host a community of more than 100 companies and over 600 members. The first start-up hub opened in Otaniemi, Espoo in 2017 and the second was opened in Kallio, Helsinki last September. Singapore will be its third and latest installation in 2019.
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