What Startup Foundation does

Startup Foundation is a Finnish non-profit foundation (säätiö) established in 2012 by 57 players in the Finnish startup ecosystem. Its primary function is to provide early-stage financial support and infrastructure to aspiring entrepreneurs before they have formed a company, awarding grants of €6,000 over a three-month period to selected founders. In 2025, the Foundation distributed €280,000 in grants to 53 founders selected from 381 applications, tripling its grant capital from €100,000 in 2024. Beyond direct grants, it operates a network of 15 active Entrepreneurship Societies across Finnish universities and runs peer and international programs including the Lemon Initiative, the SILTA program in San Francisco, and the 100x100 initiative, which aims to grow the number of Finnish startups reaching €100 million in annual revenue from approximately 20 today to 100.

The Foundation also produces Seriesseed.fi, a suite of standardized legal documents for early-stage Finnish startups, with Version 4.0 scheduled for release in May 2026. It does not sell software or services; its outputs are grants, programs, and templates. Its funding is sourced primarily from external foundation backers (including the TT Foundation) and ecosystem partners, and the Foundation is governed by a board that includes co-founders of significant Finnish tech companies such as Smartly.io, Aiven, and Metacore. According to disclosed outcomes, 63% of grantees have gone on to found a company, and the cumulative follow-on funding raised by grantees has reached €17 million. The organization is led by Interim CEO Samuli Pehkonen, with Kristo Ovaska serving as Chairperson following a leadership transition in 2025.

Name

Startup Foundation

Legal name

Startup Foundation

Website

https://startup-saatio.fi

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

1–10 employees

Short description

Startup Foundation is a Finnish non-profit foundation founded in 2012 that provides €6,000 grants, standardized legal documents (Seriesseed.fi), and ecosystem-building programs to aspiring early-stage Finnish entrepreneurs and university Entrepreneurship Societies.

Ownership category

akta.pro rank

Product category

Startup Ecosystem Development and Grant-Making

NAICS

Grantmaking Foundations (813211), Grantmaking and Giving Services (8132)

SIC

Services-Membership Organizations (8600), Services-Educational Services (8200)

akta.pro primary industry

Private Foundations (BPAGAKAA)

akta.pro secondary industries

Education Grantmaking Foundations (BPAGAKAK), Youth Business Incubators & Accelerators (EDAMAHAC), Corporate Accelerators & Startup Programs (FSANAHAD)

Keywords

• Startup grants
• Entrepreneurship support
• Ecosystem development
• Seed financing documents
• Founder grants

Headquarters

HQ city

Helsinki

HQ country

Finland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Others, Personnel, Marketing or Sales, Operations

Revenue model

1. Grant-based funding: Startup Foundation operates as a non-profit that distributes grants to early-stage entrepreneurs and ecosystem projects. It does not generate revenue from product or service sales. The foundation receives funding from TT Foundation and other ecosystem backers to sustain its grant programs.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Startup Foundation is a Finnish non-profit foundation that distributes Individual Grants (€6,000 for a three-month full-time commitment to developing a startup idea) and Project Grants (up to and above €5,000) to aspiring entrepreneurs and ecosystem-building initiatives. It also provides free standardized legal documents through Seriesseed.fi, runs the 100x100 initiative targeting 100 Finnish €100M-revenue startups, supports the Lemon Initiative peer group for female/non-binary students, and coordinates a network of 15 Entrepreneurship Societies at Finnish universities.

Product overview

Startup Foundation is a Finnish non-profit grant-giving organization founded in 2012 by 57 Finnish startup ecosystem players. Rather than a software product company, it provides a portfolio of grant programs, standardized legal documents, and ecosystem-building resources. The core offerings include Individual Grants (€6,000 for 3-month entrepreneurial pursuit) and Project Grants for ecosystem initiatives. Seriesseed.fi provides free standardized legal documents for startup investments. Additional programs include the Lemon Initiative peer group for female/non-binary students, Entrepreneurship Societies network (15 active societies), the 100x100 initiative targeting 100 Finnish startups with €100M+ revenue, Ethics Committee for DEI, and various resource toolboxes (DEI, Sales, General) hosted on Notion. Resources include an Ecosystem Map and Calendar for navigation. The organization does not develop or sell software products; all offerings are grant programs, educational resources, legal templates, or community-building initiatives.

Differentiator

Problem solved

Functional benefit

Products and services

• Individual Grants Personal grants of €6,000 for three months to help aspiring entrepreneurs in Finland research, validate, and pursue their startup ideas full-time. Includes peer group support and foundation guidance during the grant period. Applications are open continuously and processed quarterly. In 2025, the foundation tripled grant funding to €280,000 supporting 53 early-stage founders from 381 applications.
• Project Grants Grants for new projects that advance the Finnish startup ecosystem, awarded to organizations rather than individuals. Projects can be one-offs or the start of longer programs, with maximum grants of €5,000 reviewed monthly and larger grants reviewed quarterly. Impact is evaluated per-person and alignment with the 100x100 goal.
• Seriesseed.fi Standardized Legal Documents Standardized legal documents for Finnish startups including shareholders agreement, investment agreement, and term sheet templates. Available for free download under Creative Commons Attribution 3.0 license. Version 4.0 released in 2026 reduces legal friction for seed financing in Finland.
• Lemon Initiative Peer group community for female and non-binary students interested in entrepreneurship. Features monthly laid-back meetups in Helsinki with small groups of 5-10 people, providing networking opportunities, ecosystem connections, and a safe space to explore entrepreneurial ambitions.
• Entrepreneurship Societies Network Network of 15 active student-driven non-profit organizations at Finnish universities empowering students toward high-growth entrepreneurship. Includes Aalto Entrepreneurship Society (Aaltoes), Helsinki Think Company, and regional societies across Finland. Each society organizes weekly events, programs, and hackathons at its respective university.
• 100x100 Initiative Goal to have 100 Finnish startups grow to €100M in annual revenue. Includes a playbook, tracks 20 companies currently at that milestone including Wolt, Supercell, Swappie, and others, and aligns the Finnish startup ecosystem around a concrete north star.
• Ethics Committee Joint committee with Finnish Business Angels Network (FiBAN), Finnish Startup Community, Finnish Venture Capital Association (FVCA), Slush, and Aaltoes fostering diversity, equality, and inclusion. Provides guidance on anonymous reporting channels and compiles best practices including Code of Conduct templates for the Finnish startup ecosystem.
• Spring Idea Competition Idea competition for creative 15-19-year-olds to team up and ideate solutions for issues they care about. Winners receive a summer job and study trip to Copenhagen. The competition provides early exposure to entrepreneurship for high school students.
• Nexus Hackathon Two-day high school hackathon organized by Junction as part of Aalto University's startup ecosystem. No prior experience or coding skills required; winners receive a cash prize. Provides early startup exposure to high school students.
• Ecosystem Map Interactive map providing practical information about hubs, support organizations, educational institutions, and key players in the Finnish entrepreneurial ecosystem.
• Ecosystem Calendar Calendar of events from the Finnish startup ecosystem, providing a consolidated view of upcoming entrepreneurial activities and gatherings.
• Startup DEI Toolbox Database of best practices for diversity, equity, and inclusion in early-stage companies, covering recruitment, feedback and rewards, data-driven goal setting, and reporting strategies. Built from interviews with Finnish ecosystem founders and operators.

Quantifiable outcome

• 63% of Startup Foundation individual grant recipients go on to found a company
• +2 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

15 partnerships are on record, tiered core, flagship and minor.

• Finnish Business Angels Network (FiBAN)coreStrategic or Co-development PartnerFiBAN is part of the Ethics Committee established by Startup Foundation, the Finnish Startup Community, Finnish Venture Capital Association, Slush, and Aaltoes to foster diversity, equality, and inclusion in the Finnish startup ecosystem. The Ethics Committee provides guidance on anonymous reporting channels, compiles best practices for preventing harassment, and monitors DEI metrics across the ecosystem. FiBAN also offers a whistleblowing channel hosted by the Finnish Chamber of Commerce.
• Finnish Startup CommunitycoreStrategic or Co-development PartnerThe Finnish Startup Community strongly influences society to make Finland the best place in the world to found and grow startups. It is a founding member of the Ethics Committee and co-conducted the ecosystem-wide DEI survey with Startup Foundation. Member companies form a peer learning network encouraging growth companies to scale toward the 100x100 goal.
• Finnish Venture Capital Association (FVCA)coreStrategic or Co-development PartnerFVCA is a founding member of the Ethics Committee and co-conducted the DEI survey on inappropriate behavior and practices in the Finnish startup industry. FVCA has also published DEI Guidelines for Investors to promote diversity and inclusion across the VC ecosystem.
• SlushflagshipStrategic or Co-development PartnerSlush is the world's largest gathering of venture capital and a meeting place for the global startup ecosystem. Most importantly for the 100x100 goal, Slush annually introduces 2,000 young volunteers to the startup ecosystem. Slush is a founding member of the Ethics Committee and co-signed the statement on immigration policy with Startup Foundation.
• Aalto Entrepreneurship Society (Aaltoes)coreStrategic or Co-development PartnerAaltoes is the entrepreneurship society of Aalto University and a founding member of the Ethics Committee. It runs the Ignite Accelerator Program and co-conducted the DEI survey with Startup Foundation. Aaltoes has been a driving force in the Finnish startup ecosystem since 2009.
• InklusiivcoreImplementation/ SI/ Consulting PartnerInklusiiv is a DEI expert organization that conducted and analysed the ecosystem-wide survey on experiences of inappropriate behaviour and practices in the Finnish startup industry. The survey received 526 responses and was carried out from October 17 to November 5, 2023.
• ELLIS Institute FinlandcoreStrategic or Co-development PartnerELLIS Institute Finland accelerates research-based AI startups in Finland, building a pathway from frontier research to entrepreneurship. It connects researchers with companies, partners, and new opportunities through the ELLIS international AI ecosystem, helping AI ideas scale into global companies.
• SILTAflagshipStrategic or Co-development PartnerSILTA raises the ambition of Finland's startup scene by opening doors to Silicon Valley for growth entrepreneurs and helping them scale their ideas into world-class success stories. The three-month San Francisco Bay Area immersion program is aligned with the 100x100 goal and has produced multiple successful Finnish startups.
• Wave VenturescoreStrategic or Co-development PartnerWave Ventures is Europe's largest next-generation VC and supports the 100x100 goal by making venture capital easily accessible to founders. Beyond capital, Wave provides comprehensive support for early-stage steps — from direction and strategy to networks and follow-on funding.
• Maria 01flagshipStrategic or Co-development PartnerMaria 01 attracts top international founders to Finland by offering them a base to grow, build networks, and strengthen the ecosystem's international growth. The startup campus is being developed into an even more international hub to attract top teams from around the world to Finland.
• Business HelsinkiminorStrategic or Co-development PartnerBusiness Helsinki supports the creation of new growth companies through startup and scale-up advisory services. It participates in the 100x100 goal and advances startup entrepreneurship among women to balance the gender gap and unlock the full entrepreneurial potential in Helsinki.
• Aalto Startup CentercoreStrategic or Co-development PartnerAalto Startup Center is the home of innovation where deep-tech and research-driven founders turn breakthrough science into global businesses. Aligned with 100x100, it compresses the path from lab to scale through rapid commercialization, Aalto expertise and facilities, and investor-ready support.
• MIMIRcoreStrategic or Co-development PartnerMIMIR advances the 100x100 goal through grassroots programs and advocacy that change culture, structures, and ways top teams are born around university research. MIMIR aims to tenfold the number of spinouts from Finnish universities over the next ten years, working with policymakers, universities, investors, and other ecosystem actors.
• FR8coreStrategic or Co-development PartnerFR8 brings the world's sharpest young tech talent to Finland and exposes the Finnish ecosystem to the global top level. The ambition, networks, transfer of expertise, and rise in standards strengthen Finland's position as a place from which companies can realistically grow to €100 million in revenue. Companies from its first cohorts have reached a combined valuation of over €200M in less than a year.
• Castrén & SnellmancoreImplementation/ SI/ Consulting PartnerCastrén & Snellman served as the legal partner for the Series Seed 4.0 document update released in April 2026. The law firm prepared the most comprehensive revision to Finland's standard seed financing documentation in several years, introducing three-tier leaver classification, structured warranty liability, sanctions compliance, and exit economics provisions.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Ewing Marion Kauffman Foundation: The Kauffman Foundation is one of the largest US private foundations focused on entrepreneurship, funding research, education, and direct programs to accelerate startup formation. It is comparable to Startup Foundation in its national mandate to grow the entrepreneur population and as a private grantmaking foundation supporting ecosystem infrastructure.
• Nesta: Nesta is the UK's innovation foundation, running mission-driven programs and grants to back new solutions to social and economic challenges, including innovation and entrepreneurship support. It is comparable to Startup Foundation as a national-level foundation deploying catalytic capital and ecosystem-building resources, though at much larger scale and broader thematic remit.
• Techstars: Techstars operates one of the world's largest global accelerator networks, providing seed funding and structured mentorship to early-stage startups. It is comparable to Startup Foundation in offering catalytic pre-seed capital and ecosystem support, though Techstars focuses on equity-for-capital model rather than grants.
• Ashoka: Ashoka is the world's largest network of social entrepreneurs, providing fellowships, mentorship, and ecosystem support to founders tackling systemic problems. It is comparable to Startup Foundation in offering multi-year fellowships with peer community support to mission-driven founders, though Ashoka operates globally and focuses on social entrepreneurship.
• Y Combinator: Y Combinator is the world's most prominent startup accelerator, providing seed funding, founder support, and standardized deal terms to early-stage startups globally. It is comparable to Startup Foundation as a major grant/funding provider for aspiring founders, though at vastly larger scale and with a global (rather than Finland-only) mandate.

Emerging players

• Pioneer (by Public Benefit Corp): Pioneer runs a fellowship program for ambitious people building ventures that benefit society, with funding and community support. It is comparable to Startup Foundation's individual grant model for aspiring founders and its mission-driven, non-equity grantmaking approach, though at a smaller US-based scale.

Regional players

• Tesi (Finnish State Venture Fund): Tesi is the Finnish state-owned venture capital investor that funds Finnish high-tech companies directly and through funds. It is comparable to Startup Foundation as a Finnish ecosystem supporter aligned with the 100x100 goal, though Tesi deploys venture capital into growth-stage companies rather than grants to early-stage founders.

Others

• Slush: Slush is the world's largest startup and investor event, organized annually in Helsinki, and a coordinating partner of Startup Foundation (co-founding the Ethics Committee and co-signing statements). It is comparable as an ecosystem convener rather than a direct grant-making peer, and is included here because of its close operational partnership with the foundation.

Direct peers

• Echoing Green: Echoing Green is a global foundation that provides fellowships and catalytic funding to emerging leaders and social entrepreneurs. It is directly comparable to Startup Foundation's individual grant program structure (fixed stipend to pursue an idea full-time) and its mission-driven, non-equity grantmaking model.
• Antler: Antler is a global pre-seed VC operating founder-in-residence programs that give aspiring entrepreneurs stipends and structure to find co-founders and validate ideas. It is directly comparable to Startup Foundation's individual grant model (€6,000 for 3 months full-time idea development) and is even cited as a partner/destination for Startup Foundation grantees (e.g., Novu).

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/startup-sauna-foundation

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Startup Foundation