New Partnership Boosts University of Helsinki Research Commercialization
Helsinki Innovation Services partners with Xinova to connect Finnish research & technology to international markets
Helsinki, April 04, 2018 — Helsinki Innovation Services, Ltd (HIS), the research commercialization arm of University of Helsinki, announced a first-of-its-kind partnership with Xinova, a global innovation leader, opening access to international markets for Finnish technology.
The partnership utilizes Xinova’s unique innovation network to connect Helsinki University research groups and spin-outs with international investors, development experts, and commercial partners.
“Venture capitalists are few and far between. Even fewer of them have the skills, experience, and contacts required to boost new companies onto the global market. Xinova’s contacts open exciting opportunities to reach international investors and to find key personnel and partners for newly established companies,” says Jari Strandman, CEO of Helsinki Innovation Services, Ltd of the goals of the partnership.
Xinova’s extensive network opens global prospects
The University of Helsinki is the first European university to closely partner with Xinova, whose CEO, Edward Jung, is one of the world’s top inventors, holding 1000+ patents. He was chief architect throughout the 1990s for Microsoft’s R&D organization with an annual budget of over $4 billion. After leaving Microsoft he founded or co-founded over a dozen companies, including Terrapower, Kymeta, Vigilance, and Benemilk. He started the Xinova model in 2005 in Asia.
“Finland has long been recognized for its research and innovation excellence, and the University of Helsinki is one of the world’s leading research institutions. This partnership will internationalize more of these transformative ideas to positively impact the lives of millions,” says Jung.
The University of Helsinki has already seen the fruits of cooperation with Xinova, who helped recruit CEO Michael Stein for Valo Therapeutics, a company developing a cancer vaccine in Finland. Xinova’s team also helped Valo find investors for one of its funding rounds. University of Helsinki spin-out companies will continue to be established in Finland with the benefit of more international investors and globally-tested models of commercialization. For example, Chris Somogyi, senior vice president, developed a method for evaluating innovation and investment timing informed by decades of experience around the world that he articulates in this video. https://youtu.be/QUBPbeFosuk
About HIS
Owned by the University of Helsinki, Helsinki Innovation Services Ltd (HIS) helps researchers commercialize their research results. HIS evaluates the commercial significance of research ideas and assists researchers with matters such as finding funding for the preparation of commercialization, licensing, applying for patents and establishing spinout companies. HIS can also help companies find investors and leadership staff.
About Xinova
Xinova is a collective of 12,000 innovators dedicated to turning big problems into bigger solutions. Xinova works with companies all over the world to bring innovation to the marketplace. By sharing risk and upside, Xinova attracts the best innovators from across the globe. This innovation risk-sharing approach is more efficient and increases the speed to market for Xinova’s partners. The company is headquartered in Seattle with staff located in Beijing, Bangalore, Helsinki, Israel, Seoul, Singapore, Sydney, Tokyo and Vienna. www.xinova.com
For press inquiries:
Helsinki Innovation Services:
CEO Jari Strandman, jari.strandman@helsinki.fi, tel. +358 40 700 6968, www.his.fi
Xinova:
Finland: Eliot Baker ebaker@xinova.com tel. +358 50 348 2101
USA: Travis Murdock tmurdock@xinova.com tel. +1 650 750 6055
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