DOCSLIB.ORG

Accelerating 5G in the Nordic and Baltic Region: Steppingstones for Cross Border Collaboration

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Accelerating 5G in the Nordic and Baltic Region: Steppingstones for Cross Border Collaboration ACCELERATING 5G IN THE NORDIC AND BALTIC REGION: STEPPINGSTONES FOR CROSS BORDER COLLABORATION ACCELERATING 5G IN THE NORDIC AND BALTIC REGION: STEPPINGSTONES FOR CROSS BORDER COLLABORATION Contents 5 Executive Summary 6 Setting the scene – introduction 8 Driving forces, strengths and weaknesses 18 Business opportunities – from a testbed viewpoint 21 Concluding remarks and recommendations 23 Method and approach 24 Verticals and current testbed status The Nordic and Baltic countries feature a vast range of testbeds and other test activities ”for 5G 4 Executive Summary The Nordic region should be the “first and most integrated 5G region in the world”, and the region should become a “common Nordic 5G space”. Those goals were stated in a Letter of Intent (LoI) signed in April 2018 by the prime ministers of the Nordic countries. This letter followed the Nordic-Baltic ministerial declaration Digital North, adopted a year earlier. The ministerial declarations acknowledge the disruptive power of 5G, and the fact that 5G is more than a new generation of mobile technology. Unlike previous shifts from 2G to 3G and from 3G to 4G, the major impact of 5G will be found in almost all sectors of society, from industry, harbours, airports and energy companies to media, farms, fisheries, hospitals and entire cities. Analysts agree that each such vertical holds a business potential in the billions of euros.1 Testbeds are widely recognised as instrumental in this development, for developing new products, services and not least business models. Hence the interest from the Nordic Council of Ministers in mapping the 5G test activities, measuring the temperature of 5G activities and creating regional 5G SWOT analyses, and subsequently commissioning RISE to do so with this report. The Nordic and Baltic countries feature a vast range of testbeds and other test activities for 5G. This report lists almost 50 such testbeds,2 serving a range of purposes from network research to application in agriculture and aquaculture. Numbers indicate, though, that the strongest impact will be made within the manufacturing industry and transport. This is also where the first business cases based on the new 5G functionalities can be found – using 5G for the continuous digitalisation of industrial production and digitalisation of transport issues. Manufacturing industries probably hold the key for Nordic-Baltic 5G leadership. However, there’s also a potential for strong global impact within agriculture, given the proper incentives for collaboration among the stakeholders in the region. 1 See for instance “The 5G Business Potential”, Ericsson, 2019. 2 The appendix is available on request from the Ministerial Council for Digitalisation 5 Setting the scene – introduction 1 The spring of 2019 marked the start of commercially available 5G services. In South Korea, the USA and several other countries, the first commercial 5G networks have already been rolled out, with some 10 million 5G subscribers ex- pected by the end of the year. The Nordic and Baltic region will, along with other countries in Europe, debut commercial 5G during 2019–2020, with subsequent rollouts over the coming years. 5G will not only offer faster and more secure broadband connections, it will also feature radically shorter response times (latency), the ability to handle a hitherto unseen multitude of nodes, and private networks (network slicing), while also significantly lowering the cost and energy needed per communicated byte. The 5G enthusiasts emphasise the huge business opportunities. Globally, pro- jections point towards almost 2 billion 5G subscribers within 5 years, account- ing for 20% of all mobile subscriptions (source: Ericsson Mobility Report, June 2019). By 2026, analysts foresee a 1.2 trillion dollar market for 5G-enabled digitalisation products and services, as categorised in figure 1. The testbeds serve an important role in harnessing these business opportuni- ties. Testbeds are instrumental for learning not only the technology but also the operational, organisational and business aspects of the new opportunities. Testbeds can be public, offering services for anyone interested, but can also be closed, serving the needs of e.g. a factory, a port, or a hospital. They can be for research only or have commercial interests. Some of the testbeds in this survey are also driven by other forces, some more esoteric examples being observing the impacts of global warming or assisting athletes in their ambition to win Olympic medals. What all the testbeds have in common, though, is their ambition to as quickly as possible learn what opportunities 5G will bring to their particular field of interest and how to make the most out of these opportunities. In many cases – particularly where corporations are driving the testbeds – this also includes how to make money from these insights. Early-use cases where 5G contrib- utes to industrial digitalisation might be more about saving money, but there are examples of more forward-leaning companies developing new offerings using 5G. One example is the traffic safety testbed AstaZero in Sweden, whose customers – the big automotive manufacturers – simply demand 5G access for their trials. The test activities have until now been hampered by low terminal availability. This situation should be rectified during the summer of 2019, as the telecom industry rolls out new terminals for 5G with a range of different capacities. The ramp-up of terminal production is expected to be quite steep, ensuring that the testbeds – and indeed the public at large – can dig into the brave new 5G world. 6 Figure 1: 5G-enabled digitalisation products and services 2026, a 1.2 trillion dollar market. Source: The 5G Business Potential, Ericsson, 2019. 6% 1% Financial 20% services 8% Energy Automative utilities 10% Public transport 19% 10% Manufacturing Media & industry entertainment 13% Health care 13% Public safety 7 Driving forces, strengths and 2 weaknesses The 5G movement is quite complex, with many different driving forces. Geo- graphically, it’s fair to say that Finland is a bit ahead of the other Nordic and Baltic countries, with Sweden coming in second. Norway and Denmark are accelerating. The 5G activities seem to be local or national, with very limited transnational visibility. Corporations use their testbeds mainly for learning and digitalisation purposes. Cities use them for projects aimed at ameliorating life for inhabit- ants and local business. Universities use testbeds for research, obviously, but also for profiling. If the testbeds are aspiring for commercial viability – i.e. to make money by themselves – it’s definitely too early to judge their success. Nor have they excelled in finding new business opportunities. As shown in the regional SWOT analysis to the right, the Nordic-Baltic region features many strong 5G points. The large number of testbeds indicate great interest from many stakeholders, particularly within the transport and man- ufacturing industries. However, the test activities suffer from a lack of termi- nals. The few 5G terminals that have been available are mostly prototypes, and not all of them are in the common mobile phone form. This situation will change soon as several phone vendors, e.g. Huawei, LG and Samsung, have started or announced the imminent start of regular 5G phone sales. The goal of a “common Nordic 5G space” as stated in the LoI signed by the Nordic prime ministers seems still to be quite distant. There’s very little co-or- dination of activities between spectrum authorities – one example is the lack of transnational spectrum allocation. Governments seem to regard spectrum as a natural resource of national importance. Pan-Nordic spectrum allocation could potentially not only create an unprecedented scale of communication opportunities, it would also encourage and enable cross-border business and collaboration projects. Another challenge for cross-border activities is the lack of dedicated funding targeted towards Nordic-Baltic 5G projects. The test activities in the region are today mainly funded by national sources or by European research projects such as Horizon 2020 and thus there is a lack of incentive for Nordic or Nor- dic-Baltic collaboration. 5G tests, like most business activities, tend to follow the money, so if policymakers would like to see more Nordic-Baltic collabora- tion, they should also create a funding scheme for such activities. Agriculture could be low-hanging fruit for Nordic-Baltic 5G collaboration. Sweden has a testbed, currently with 4G but with plans for 5G, for agricultural purposes. Denmark has a strong agriculture industry but currently no testbed for this vertical. Finland has taken some 5G initiatives within the forest indus- try, and in Norway there’s an ambitious aquaculture testbed with plans for 5G experiments. A well-funded project where these activities could combine forces and learn from each other could form the basis for a 5G knowledge resource for the entire region. Stakeholders such as Lantmännen – a co-oper- 8 ative owned by 25,000 Swedish farmers – could seize the opportunity to act as intermediary in this vertical, defining, designing and developing appropriate services. The large Swedish and Finnish forestry companies would probably welcome such an initiative, as would the large Danish farms and agriculture companies and the Norwegian fish farmers. It should be noted that most of the testbeds in this survey are run with sup- port and equipment from Ericsson or Nokia, with Huawei also showing
Load more

Recommended publications
  • The HOW, WHERE and WHY for Applying to the University of Lapland
    2007 – 2009 The HOW, WHERE and STUDY IN WHY for Applying to the University LAPLAND of Lapland. 1 STUDY IN LAPLAND 2007 – 2009 2 2007 – 2009 STUDY IN LAPLAND 3 STUDY IN LAPLAND 2007 – 2009 Editor: Pia Seppälä International Office The University of Lapland Photos: University of Lapland; City of Rovaniemi; Jouni Laaksomies, Jussi Leinonen, Arto Liiti, Mauri Pänttäjä and Juha Sarkkinen, Design and Layout: Teemu Matinlauri The University of Lapland reserves the right to change the regulations, programmes and course requirements presented in this publication without prior notice. ISSN 1797-0245 Tornio Kirjapaino Oy, Tornio 2007 4 Contents 1 University of Lapland 8 6 Student Union 47 1.1 General information 8 6.1 General information 47 1.2 Academic year 9 6.2 Student Union membership 47 1.3 International Services 6.3 Student Union activities 49 at the University of Lapland 11 6.4 Clubs and other student associations 51 1.4 Faculties 13 6.5 Student health issues and personal safety 51 1.5 Institutes 19 1.6 University administration 25 7 Finland, Lapland and the Finns 55 1.7 University premises 27 7.1 Finland 55 7.2 Lapland 58 2 Studying at the University of Lapland 28 7.3 The Finns 59 2.1 Universities in Finland 29 7.4 Tips on living in Finland 61 2.2 University degrees 29 2.3 System of study 29 8 Rovaniemi 62 2.4 OODI Student Information System 31 2.5 Studying at other universities – JOO studies 32 8.1 Rovaniemi AD 900 – 2007 63 2.6 Finnish Virtual University 32 8.2 Cultural life and attractions 63 8.3 Social life in Rovaniemi 66 8.4 Daily life
    [Show full text]
  • NORDIC COOL 2013 Feb. 19–Mar. 17
    NORDIC COOL 2013 DENMARK FINLAND Feb. 19–MAR. 17 ICELAND NorwAY SWEDEN THE KENNEDY CENTER GREENLAND THE FAroE ISLANDS WASHINGTON, D.C. THE ÅLAND ISLANDS Nordic Cool 2013 is presented in cooperation with the Nordic Council of Ministers and Denmark, Finland, Iceland, Norway, and Sweden. Presenting Underwriter HRH Foundation Festival Co-Chairs The Honorable Bonnie McElveen-Hunter, Marilyn Carlson Nelson, and Barbro Osher Major support is provided by the Honorable Bonnie McElveen-Hunter, Mrs. Marilyn Carlson Nelson and Dr. Glen Nelson, the Barbro Osher Pro Suecia Foundation, David M. Rubenstein, and the State Plaza Hotel. International Programming at the Kennedy Center is made possible through the generosity of the Kennedy Center International Committee on the Arts. NORDIC COOL 2013 Perhaps more so than any other international the Faroe Islands… whether attending a performance festival we’ve created, Nordic Cool 2013 manifests at Sweden’s Royal Dramatic Theatre (where Ingmar the intersection of life and nature, art and culture. Bergman once presided), marveling at the exhibitions in Appreciation of and respect for the natural environment the Nobel Prize Museum, or touring the National Design are reflected throughout the Nordic countries—and Museum in Helsinki (and being excited and surprised at they’re deeply rooted in the arts there, too. seeing objects from my personal collection on exhibit there)… I began to form ideas and a picture of the The impact of the region’s long, dark, and cold winters remarkable cultural wealth these countries all possess. (sometimes brightened by the amazing light of the , photo by Sören Vilks Sören , photo by aurora borealis).
    [Show full text]
  • The Finnish Venture Capital Market Performance and Development
    Aalto University School of Science Master’s Programme in Industrial Engineering and Management Julia Jutila The Finnish venture capital market performance and development Master’s Thesis Helsinki, April 5, 2021 Supervisor: Markku Maula, Professor Thesis advisor: Matias Kaila, M.Sc., Suomen Teollisuussijoitus Oy (Tesi) AALTO UNIVERSITY SCHOOL OF SCIENCE INDUSTRIAL ENGINEERING AND MANAGEMENT Author: ABSTRACT OF MASTER’S THESIS Julia Jutila Title of the thesis: The Finnish venture capital market performance and development Number of pages: Language: 90 English Major: Major code: Strategy and Venturing SCI3050 Supervisor and instructor: Prof. Markku Maula Thesis advisors: Matias Kaila, Director of Fund Investments at Tesi The Finnish venture capital (VC) market and startup ecosystem are booming. 2019 was a record year in terms of the amount of funding Finnish startups attracted and the amount fundraised by Finnish VC funds. However, research on the financial performance and development of the Finnish venture capital market is scarce. For limited partners (LPs) and general partners (GPs) the lack of data can cause inefficient capital allocation. This study focuses on assessing the development and the financial performance of the Finnish venture capital market. The financial performance of the market is studied in terms of returns and their distribution, value development of companies after the initial investment and the effect of staging an investment on returns. The literature review provides background to the development of the Nordic VC market and benchmarks the Finnish VC market against other venture capital markets. The empirical analysis is done employing the Finnish Industry Investment (Tesi) database, with annual data from 2005 to 2019.
    [Show full text]
  • Finland Fact Book Focus Areas of Finnish Business
    FINLAND FACT BOOK FOCUS AREAS OF FINNISH BUSINESS BIOECONOMY CLEANTECH R&D AND INNOVATION World-class Finnish First-class cleantech Finland at the top of expertise in future competence from R&D spending per CONTENTS growth areas. Finland. capita. Why Finland? ....................................................................... 1 An incentive destination for business travel ..........2 Facts about Finland ......................................................... 4 Political system ................................................................. 6 Geography, natural resources and climate .............7 HEALTHCARE ICT TRAVEL AND Better life in Finland ........................................................ 8 AND TOURISM Economy and business outlook ...............................10 WELLBEING Great ICT market Finland’s dynamic Government policy in a knowledge-based Excellent research potential with R&D business climate and economy .............................................................................12 opportunities in Finland. expertise. unique environment Foreign direct investments (FDI) ...............................16 Research, development & innovation .................. 20 Principal industrial and business sectors .............24 Business environment ................................................. 30 Investment incentives ..................................................36 MANU­ RETAIL MINING Setting up a business in Finland ...............................38 Employment and the labour market ......................44 FACTURING
    [Show full text]
  • Uniting the Nordic Startup Ecosystem: Rising North Impact Fund 2016–2018
    The Nordics Together UNITING THE NORDIC STARTUP ECOSYSTEM: RISING NORTH IMPACT FUND 2016–2018 The Nordics Together UNITING THE NORDIC STARTUP ECOSYSTEM: RISING NORTH IMPACT FUND 2016–2018 Photo: taPio auvinen / aamumehu in bringing ecosystem players players ecosystem very successful successful very together across across together the Nordics.” “Rising North was was North “Rising UNITING THE NORDIC STARTUP ECOSYSTEM Startup Foundation was awarded the Rising North priority project for 2016–2018 by the Nordic Council of Ministers to support the internationalisation and overall development of the Nordic startup ecosystem. The project was something entirely new: an impact fund that awarded grants to support the hands-on collaboration of startup ecosystem participants, with each initiative having representatives from three different Nordic countries. Rising North was very successful in bringing ecosystem players together across the Nordics. The connections between organisations and individual people grew stronger through diverse subprojects, which in turn facilitated the inception of new openings and follow-up ideas. This resulted in a strong cross-border agenda of continuing the Nordic startup ecosystem collaboration within the #NordicMade brand. Startup Foundation would like to extend its sincere gratitude to the Nordic Council of Ministers for its support in empowering the Nordic startup ecosystem. Furthermore, the project would not have been possible without the help and support of the Finnish Ministry for Foreign Affairs and the Ministry of Economic Affairs and Employment. Startup Foundation also wishes to thank all the members of the project steering board for their invaluable work in evaluating the funding applications, which over the years resulted in a portfolio of exciting and impactful subprojects.
    [Show full text]
  • NIBS Henrikki Digital Book.Pdf
    1 HENRIKKI TIKKANEN HENRIKKI TIKKANEN 50 1 HENRIKKI TIKKANEN – 50 ENSIMMÄINEN PAINOS / 1ST EDITION KUSTANTAJA / PUBLISHER: Nordic Institute of Business & Society Osuuskunta, Helsinki TOIMITTAJAT / EDITORS: Juho-Petteri Huhtala & Joel Hietanen SUUNNITTELIJA / DESIGNER: Krista Kärki PAINO / PRINT: Painotalo Trinket Oy COPYRIGHT © 2020 Nordic Institute of Business & Society Osuuskunta ISBN 978-952-94-3901-0 ISBN 978-952-94-3902-7 2 3 HENRIKKI TIKKANEN – 50 HENRIKKI TIKKANEN 50 4 5 HENRIKKI TIKKANEN – 50 140 149 KUVAT / IMAGES SISÄLLYS ↓ 152 155 9 HENRIKISTÄ KERTOVIA LAUSAHDUKSIA – JA FILOSOFIAA NIIDEN TAKANA P. Par v i nen 8 13 TO INNUMERABLE SHADES: 156 161 10 MONIPUOLINEN TIETEELLINEN DIMENSIONS OF PROFESSOR TUOTANTO SYSTEMAATTISENA LEIKKINÄ TIKKANEN AND HENKKA KIRJALLISUUSGENREILLÄ J. Hietanen & J-P. Huhtala J. Luoma 14 17 1 YSTÄVÄN MUOTOKUVA 162 175 11 LIVING PARALLEL LIVES:KARIN, I. Ambrosius & T. Kietäväinen HENRIKKI, ME AND THE OTHERS B. Cova 18 35 2 SPIRITUALITY, MANAGEMENT AND WISDOM – THE RELEVANCE OF PLATO 176 189 12 PROFESSOR TIKKANEN FLEW T. Peltonen OVER THE CUCKOO’S NEST: SWEDISH FÖRETAGSEKONOMI ON 36 59 3 RESEARCH TRADITIONS IN MARKETING: THE COUCH THEORETICAL NOTES J. Ostberg K. Möller 190 197 13 TEACHER, SUPERVISOR, MENTOR, 60 81 4 ROUGHING OUT A SOBERING (?) BOSS AND FRIEND – PROFESSOR RESEARCH PARADIGMATIC SCHEMA HENRIKKI TIKKANEN FOR MARKETING AND OTHER SOCIAL J. Salo PHENOMENA STUDIES R. Olkkonen & H. Makkonen 198 211 14 THE EMERGING SCHOOLS OF THOUGHT IN BRAND MANAGEMENT 82 91 5 SCHOLARLY VIRTUES AS P. Tuominen PERFORMATIVE ROLES J-A. Lamberg 212 225 15 WHAT AILS CONTEMPORARY BUSINESS SCHOOLS? 92 117 6 YRITYSTASON STRATEGINEN K. Alajoutsijärvi, K. Juusola & K.
    [Show full text]
  • Helsinki Microneurosurgery Basics and Tricks
    t of Neu en r os tm u r r a g p e e r y D U n d i n v Est. 1932 la er n si Fi ty of Helsinki Lehecka | Laakso Hernesniemi t of Neu en r os tm u r r a g p e e r y D U n d i n v Est. 1932 la er n si Fi ty of Helsinki t of Neu en r os tm u r r a g p e e r y D U n d i n v Est. 1932 la er n si Fi ty of Helsinki Department of Neurosurgery at Helsinki University, Finland, led by its chairman Juha Hernesniemi, has become one of the most frequently visited neurosurgical units in the Helsinki Microneurosurgery world. Every year hundreds of neurosurgeons come to Helsinki to observe and learn t of Neu en r os microneurosuergery from Professor Juha Hernesniemi and his team. tm u r r a g Basics and Tricks p e e r y D In this book we want to share the Helsinki experience on conceptual thinking behind U n d i n v Est. 1932 la er n what we consider modern microneurosurgery. We want to present an up-to-date si Fi ty of Helsinki manual of basic microneurosurgical principles and techniques in a cook book fashion. Martin Lehecka, Aki Laakso It is our experience that usually the small details determine whether a particular and Juha Hernesniemi surgery is going to be successful or not. To operate in a simple, clean, and fast way while preserving normal anatomy has become our principle in Helsinki.
    [Show full text]
  • The Emergence of the Finnish Edible Insect Arena the Dynamics of An
    Geoforum 108 (2020) 227–236 Contents lists available at ScienceDirect Geoforum journal homepage: www.elsevier.com/locate/geoforum The emergence of the Finnish edible insect arena: The dynamics of an T ‘Active Obstacle’ ⁎ Tiina Arppea,b, , Mari Nivab, Piia Jallinojaa a Tampere University, Finland b University of Helsinki, Finland ARTICLE INFO ABSTRACT Keywords: In the current debates on sustainability of food edible insects have been suggested as one alternative source Edible insects of protein that could respond to the urgent need to decrease global meat consumption. However, in many Novel food countries rearing of insects for human food has been restrained by regulatory measures, such as the EU Novel Sustainability Foods Regulation. This paper analyses the emergence of the edible insect arena in Finland. In spite of the Arena of development official compliance to the existing EU regulations, a lively startup scene has grown around edibleinsect Strategies of normalization production since 2014. The analysis is based on interviews of the central actors of the insect scene and media Active obstacle data. The performances of actors, such as producers, retailers, authorities, researchers, newspaper articles, insects, regulations, and technologies, constituted a network connecting different geographical locations on a common arena of development. The emergence of an innovative arena is shown to be a result of conflicts and negotiations, resumed in three strategies used by the network-builders in order to normalize a forbidden product: media promotion, trials, and consumption. These strategies gathered actors and networks around an ‘active obstacle’, formed by the authorities’ interpretation of the EU law, which, as we argue, has in- fluenced the dynamics of the arena in its formative stage.
    [Show full text]
  • Issues Female Startup Founders Face While Applying for External Funding in Finland
    ISSUES FEMALE STARTUP FOUNDERS FACE WHILE APPLYING FOR EXTERNAL FUNDING IN FINLAND Annie Talvasto International Business Bachelor's Thesis Supervisor: Tamar Almor Date of approval: 13 April 2017 Aalto University School of Business Bachelor´s Program in International Business Mikkeli Campus AALTO UNIVERSITY ABSTRACT OF SCHOOL OF BUSINESS BACHELOR’S THESIS Mikkeli Campus Author: Annie Talvasto Title of thesis: Issues female startup founders in technological fields face while applying for external funding in Finland Date: 20 March 2017 Degree: Bachelor of Science in Economics and Business Administration Supervisor: Tamar Almor Objectives The main objectives of this study Was to investigate What kind of issues female startup founders face in Finland, and Whether the fact that Finland is perceived to be very equal society affect the issues. Summary Altogether eleven semi-structured intervieWs Were conducted. Four intervieWs Were conducted With female startup founders, three With male founders and four With representatives of different venture capital firms. Multiple patterns could be identified from the intervieWs. The main patterns include: female founders do not feel they experience discrimination, female founders often receive positive discrimination in the form of press or event coverage, female founders are considered more focused and determined than male founders on average and underlying issues very likely affect female founders in the technological startup industry. Conclusions The hypothesis proved to be quite correct, but still multiple surprising factors surfaced. This makes the findings important and contributes to the research of the field. It would be recommended to research the subject in greater detail. Quantitate research in particular, on female startup founders would be needed.
    [Show full text]
  • Markus Maikola
    Markus Maikola Markus Maikola ACQUIRING EARLY STAGE VENTURE CAPITAL FUNDING: THE IMPORTANCE OF STARTUP TEAMS’ LANGUAGE SKILLS Master’s Thesis in International Business Supervisor: Wilhelm Barner-Rasmussen Faculty of Social Sciences, Business and Economics Åbo Akademi University Turku 2020 Markus Maikola ÅBO AKADEMI – FACULTY OF SOCIAL SCIENCES, BUSINESS AND ECONOMICS Subject: International Business Author: Markus Maikola Titel: Acquiring early stage venture capital funding: The importance of startup teams’ language skills Supervisor: Wilhelm Barner-Rasmussen Abstract: With constant innovation occurring around the world, startups struggle to be noticed. To survive and grow, startups need resources, which they rarely possess. The needed resources can be financial, social and human capital, which are areas a venture capital firm can help with. The large number of startups constantly emerging and the limited amount of venture capital financing, forces venture capital firms to make difficult investment decisions based on both quantitative and qualitative measures. This thesis investigates the impact of languages when acquiring financing, focusing on the relationship between venture capital firms and startups. The aim of this thesis is to understand how spoken language within startup teams impacts venture capital firms’ investment decisions. Specifically, this thesis will investigate the venture capital firms’ investment decision-making process and generate an understanding of how spoken language in the startups’ founder teams affects the venture capital firms’ decision to invest. The research target is also to conclude if the venture capital firms consider post-investment factors already in the pre-investment phase. The theoretical part focuses on the relationship between venture capital firms and startups, the investment process, and the social capital of the two parties.
    [Show full text]
  • Doing Theidealacademic
    Organ isation stu dies, Departm en t of Man agem en t Aa lto- Rebecca W. B. Lund Lund B. W. Rebecca DD 98 Doing the Ideal Academic / 2015 Gender, Excellence and Changing Academia Doing the Ideal Academic Academic Ideal the Doing Rebecca W. B. Lund 9HSTFMG*agcjfc+ 9HSTFMG*agcjfc+ ISBN 978-952-60-6295-2 (printed) BUSINESS + ISBN 978-952-60-6296-9 (pdf) ECONOMY ISSN-L 1799-4934 ISSN 1799-4934 (printed) ART + ISSN 1799-4942 (pdf) DESIGN + ARCHITECTURE Aalto Un iversity Aalto University School of Business SCIENCE + Organisation studies, Department of Management TECHNOLOGY www.aalto.fi CROSSOVER DOCTORAL DOCTORAL DISSERTATIONS DISSERTATIONS "BMUP6OJWFSTJUZQVCMJDBUJPOTFSJFT %0$503"-%*44&35"5*0/4 )#(!ŗ."ŗ &ŗ'#ŗ (,ąŗ2&&(ŗ(ŗ"(!#(!ŗ'#ŗ 3FCFDDB8#-VOE "BMUP6OJWFSTJUZ 0SHBOJTBUJPOBOE.BOBHFNFOU 'FNJOJTUPSHBOJTBUJPOTUVEJFT .BJOEJTTFSUBUJPOBEWJTPS +BOOF5JFOBSJ 0SHBOJTBUJPOBOE.BOBHFNFOU 4DIPPMPG#VTJOFTT "BMUP6OJWFSTJUZ $PEJTTFSUBUJPOBEWJTPS .BSKB7FIWJM»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
    [Show full text]
  • Master's Thesis Investment Criteria of Finnish Venture Capitalists
    School of Business Strategic Finance and Business Analytics Master’s Thesis Investment criteria of Finnish venture capitalists Olli Eloranta, 2018 Examiners: Professor Mikael Collan Research Fellow Jan Stoklasa ABSTRACT Author: Olli Eloranta Title: Investment criteria of Finnish venture capitalists Faculty: School of Business and Management Degree: Master of Science in Economics and Business Administration Master’s Programme: Strategic Finance and Business Analytics Year: 2018 Master’s Thesis: Lappeenranta University of Technology 93 pages, 5 figures, 8 tables, 1 appendix Examiners: Professor Mikael Collan Research fellow Jan Stoklasa Keywords: Venture capital, Investment criteria, Investment decision-making The purpose of this thesis is to explore the investment criteria of Finnish venture capitalists when evaluating and selecting investment targets. The aim is to examine the differences and similarities between the criteria found in previous literature and the criteria of Finnish venture capitalists. The study focuses on the evaluation stage of the investment process of venture capitalists, in which venture capitalists decide whether or not to invest in a particular deal. In the literature review of the thesis, an understanding of the most important investment criteria of venture capitalists is formed. The empirical part of the thesis extends the existing literature by providing insights from the Finnish venture capital industry. In the empirical part, six Finnish venture capitalists are interviewed. The interviews are executed as semi-structured interviews. The results of this thesis show that Finnish venture capitalists emphasize characteristics of the management team, product and market as well as financial aspects of the venture in their investment decision-making. The most important criterion for Finnish venture capitalists is management team, followed by market-related issues and financial aspects.
    [Show full text]