Business Turku

What Business Turku does

Business Turku Oy is a non-profit regional development company headquartered in Turku, Finland, with a second office at Smart Chemistry Park in Raisio. The organization, which rebranded from Turku Science Park Oy on 16 February 2024, serves growth-oriented SMEs, startups, and companies evaluating the Turku region for investment across 11 municipalities in Southwest Finland: Turku, Kaarina, Lieto, Masku, Mynämäki, Naantali, Nousiainen, Paimio, Parainen, Raisio, Rusko, and Sauvo. Its portfolio of free advisory services covers business development, internationalization, financing guidance, partner and network connections, RDI support, and investment promotion. The company operates hub programs under the Kasvuhubit umbrella, including Turku Startup Hub, Turku Growth Hub, Smart Chemistry Park, and Women's Health Hub Finland, and maintains the Yrityskatalogi digital directory (yrityskatalogi.businessturku.fi). It is led by CEO Minna Arve and governed by a board chaired by Vesa Taatila, President and CEO of Turku University of Applied Sciences.

The company is owned by Turun Seudun Kehitys Oy, a municipal vehicle, and runs an 80+ project portfolio funded through two streams: (1) municipal service contracts where municipalities purchase services via the ownership structure, and (2) project-based EU and national grants from ERDF, Interreg, Horizon, and Digital Europe Programme. Services are delivered free of charge; the firm does not sell products in the commercial sense and reports no revenue publicly. Headcount is 62 staff located primarily in Turku's Kupittaa innovation district (ElectroCity) and at Smart Chemistry Park in Raisio.

Business Turku is embedded in a deep partnership network spanning the University of Turku, Åbo Akademi University, and Turku University of Applied Sciences, and coordinates or participates in cross-border consortia including HealthHub Finland EDIH (with Business Oulu, Business Tampere, FINBB, Kuopio Health, University of Oulu, VARHA), the INGOs project (with Business Tampere, Tehnopol Estonia, Latvian IT Cluster, RISE Sweden), DIGIT-PRE (with Innovation Skane, Eurasanté, Cluster Sports & Technology, Gérontopôle Nouvelle Aquitaine), and the ULLEVI thermal energy storage R&D initiative. Active strategic verticals include Clean Transition, Health and Biosciences, Food and Nutrition, Blue Economy and Maritime Industries, and Security and Dual-Use.

Name

Business Turku

Legal name

Business Turku Oy

Website

https://businessturku.fi

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

Business Turku Oy is a non-profit regional development company serving SMEs, startups, and inward-investment prospects across 11 municipalities in Southwest Finland with free advisory, internationalization, financing, RDI, and ecosystem-building services funded by municipal owners and EU/national grants.

Ownership category

akta.pro rank

Product category

Regional Development Services

NAICS

Professional, Scientific, and Technical Services (541)

SIC

Services-Management Services (8741)

akta.pro primary industry

SME & Entrepreneurship Development (Trade-Linked) (BPADAMAE)

akta.pro secondary industry

Economic Growth, Livelihoods & Private Sector Development (BPADAEAE)

Keywords

• Regional development services
• Business advisory services
• Internationalization consulting
• SME financing guidance
• Innovation ecosystem coordination

Headquarters

HQ city

Turku, Southwest Finland

HQ country

Finland

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Municipal Service Contracts: Business Turku is owned by Turun Seudun Kehitys Oy and serves companies across 11 municipalities in the Turku region. The municipalities purchase services from the company through its owner structure. Services to companies are provided free of charge.
2. Project-based EU and National Funding: The company participates in and coordinates numerous EU-funded projects (ERDF, Interreg, Horizon, Digital Europe Programme) and nationally funded projects. These projects provide operational funding for ecosystem development, innovation support, and internationalization services.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Business Turku is a non-profit regional development company that provides free expert advisory services to companies across 11 municipalities in the Turku region (Turku, Kaarina, Lieto, Masku, Mynämäki, Naantali, Nousiainen, Paimio, Parainen, Raisio, Rusko, Sauvo). Core offerings include business development consulting, internationalization support, financing guidance, partner and network matching, RDI collaboration, and investment promotion services. The organization also runs four sector growth hubs (Smart Chemistry Park, Turku Startup Hub, Turku Growth Hub, Women's Health Hub Finland), an event program, and a digital company directory (Yrityskatalogi) for regional company discovery.

Product overview

Business Turku is a regional development company offering advisory and networking services to companies in the Turku region (covering 11 municipalities). The organization provides a portfolio of consulting services including Business Development (Liiketoiminnan kehittäminen), Internationalization, Financial Guidance, RDI Activities, and Investment Promotion. Business Turku operates several hub programs under the 'Kasvuhubit' umbrella: Turku Startup Hub, Turku Growth Hub, Smart Chemistry Park, and Women's Health Hub Finland. The company maintains a digital Company Catalogue (Yrityskatalogi) platform for showcasing regional companies. Additional services include an Events platform, Women's Health Hub Finland, and West Finland Film Commission. The organization functions as a non-profit joint development company rather than a traditional software product company.

Differentiator

Problem solved

Functional benefit

Products and services

• Business Development Advisory (Liiketoiminnan kehittäminen) Consulting services focused on sustainable business growth, helping SMEs develop strategies for domestic expansion and operational improvements.
• Internationalization Advisory (Kansainvälistyminen) Services helping companies expand internationally, including market entry support, partner matching, and export assistance.
• Financing Guidance (Rahoitusneuvonta) Advisory on financing options, funding opportunities, and investment readiness for growth-oriented companies.
• Partners and Networks (Yhteistyökumppanit ja verkostot) Facilitating business partnerships, networking opportunities, and connections with universities and research institutions.
• RDI Activities (TKI-toiminta) Research, development, and innovation support services including TKI-seteli (RDI voucher) for companies engaging with research institutions.
• Investment Promotion (Turun seudulle sijoittuminen) Support for companies looking to establish or relocate operations to the Turku region, including site selection and regulatory guidance.
• Turku Startup Hub Incubation and acceleration hub providing support, workspace, and mentorship for early-stage startups in the Turku region.
• Turku Growth Hub Growth-focused hub supporting established startups and scaleups with resources for commercialization and expansion.
• Smart Chemistry Park Innovation platform and physical hub focused on chemistry, cleantech, and bioeconomy companies, facilitating RDI collaboration and pilot operations.
• Women's Health Hub Finland Specialized hub focused on women's health innovations, supporting companies and research in health technology and life sciences.
• Yrityskatalogi (Company Catalogue) Digital directory platform showcasing growth companies and key industry players across sectors in the Turku region, with company registration and search capabilities.
• Events (Tapahtumat) Event listing and management platform for networking events, seminars, webinars, and trade missions organized by Business Turku.
• West Finland Film Commission Film commission service supporting film and media production companies in the Turku region.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

18 partnerships are on record, tiered minor and core.

• Regional Council of UusimaaminorStrategic or Co-development Partner · 1 January 2024Funder and strategic partner for Green Tech Business & Innovation Hub project, supporting green transition business development in Turku region.
• Business TamperecoreStrategic or Co-development Partner · 1 January 2023Finnish partner in the INGOs project promoting exports to international NGOs. Business Turku and Business Tampere collaborate on helping SMEs enter procurement processes of large international organizations like UN, Red Cross, IMF, and World Bank.
• Tehnopol (Estonia)coreStrategic or Co-development Partner · 1 January 2023Estonian technology park partner in the INGOs project. Contributes to the Central Baltic consortium helping SMEs from Finland, Estonia, Sweden, and Latvia access international NGO procurement markets.
• Latvian IT ClustercoreStrategic or Co-development Partner · 1 January 2023Latvian partner in the INGOs project, representing the Central Baltic region in efforts to help SMEs access international NGO procurement opportunities.
• RISE (Sweden)coreStrategic or Co-development Partner · 1 January 2023Swedish research institute partner in the INGOs project, contributing to cross-border SME support for international NGO market access.
• HealthHub Finland Consortium PartnerscoreStrategic or Co-development Partner · 1 January 2023EDIH consortium coordinated by Business Turku including Business Oulu, Business Tampere, FINBB (Finnish Biobanks), KAMK (University of Applied Sciences), Kuopio Health, University of Oulu, and VARHA (Southwest Finland wellbeing services county). Focuses on helping SMEs digitalize and develop data-driven health businesses.
• Business OulucoreStrategic or Co-development Partner · 1 January 2023Co-partner in HealthHub Finland EDIH, contributing to the European Digital Innovation Hub network for health data-driven innovation across Finland.
• Business FinlandcoreStrategic or Co-development Partner · 1 January 2023National coordinator of Enterprise Europe Network in Finland and funding partner for multiple EU projects. Business Turku participates in EEN as a member since 2008.
• Helsinki Region Chamber of CommerceminorStrategic or Co-development Partner · 1 January 2023Finnish partner in Enterprise Europe Network alongside Business Turku, providing internationalization services for SMEs across Finland.
• Turku University of Applied SciencescoreStrategic or Co-development Partner · 1 January 2023Academic partner in ULLEVI (thermal energy storage) project and multiple other initiatives. Collaborates on R&D projects, provides research expertise, and participates in innovation ecosystem development.
• Åbo Akademi UniversitycoreStrategic or Co-development Partner · 1 January 2023University partner in ULLEVI thermal energy storage project and other initiatives. Contributes research capabilities in chemistry and materials science to regional innovation ecosystem.
• Innovation Skane (Sweden)coreStrategic or Co-development Partner · 1 January 2022Lead partner in DIGIT-PRE project focused on digital health tools for prevention and remote care. Business Turku identifies health challenges and supports SME participation.
• Eurasanté (France)minorStrategic or Co-development Partner · 1 January 2022French health cluster partner in DIGIT-PRE project, contributing to EU-wide digital health innovation network.
• Cluster Sports & Technology (Netherlands)minorStrategic or Co-development Partner · 1 January 2022Dutch partner in DIGIT-PRE focusing on sports technology and health innovation crossover.
• Gérontopôle Nouvelle Aquitaine (France)minorStrategic or Co-development Partner · 1 January 2022French gerontology cluster partner in DIGIT-PRE project addressing aging society health challenges.
• University of TurkucoreStrategic or Co-development PartnerMajor academic partner across multiple projects including FoRDI (food sector RDI), Smart City Digital Twins, and various innovation initiatives. Key contributor to regional research-to-business collaboration.
• Tapani Mylly (CMO)coreOthersChief Marketing Officer leading Marketing and Communications at Business Turku. Key internal leadership contact for media inquiries and graphics standards.
• Pia Lappalainen (Communications Manager)coreOthersCommunications Manager handling marketing communications and logo distribution for Business Turku media relations.

Scale indicators2 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Business Oulu: Oulu region economic development company offering comparable SME growth, internationalization, and innovation services. Co-partner in HealthHub Finland EDIH and runs its own startup and growth hub programs mirroring Business Turku's Kasvuhubit portfolio.
• Business Tampere: Tampere region economic development agency providing SME advisory, internationalization, and investment promotion services. Co-partner with Business Turku in the INGOs project and HealthHub Finland EDIH, making it the closest functional twin operating in a different Finnish region.
• Innovation Skåne: Swedish regional innovation and digital health cluster active in EU cross-border health projects such as DIGIT-PRE. Comparable as a cross-border consortium partner with parallel mission of supporting SME innovation and internationalization in a defined Swedish region.
• Helsinki Region Chamber of Commerce: Provides business advisory, internationalization, and Enterprise Europe Network services in the Helsinki metropolitan area. Directly comparable as a fellow EEN member organization delivering SME growth and export support services in a competing Finnish region.
• Tehnopol: Estonian technology park and innovation hub offering incubation, accelerator, and SME internationalization services. Directly comparable as a partner in the INGOs Central Baltic consortium and as a publicly-supported innovation hub with similar services to Business Turku's Kasvuhubit portfolio.

Broad incumbents

• Business Finland: Finland's national innovation funding and internationalization agency. Directly comparable to Business Turku because it delivers overlapping SME advisory, financing, and internationalization services at the national level; Business Turku effectively operates as a regional counterpart and former employer of its senior advisors.
• Vinnova: Sweden's national innovation agency funding research and innovation with EU program participation. Comparable as a broader-scale public-sector innovation and SME funding counterpart at national level, complementing Business Turku's regional role.

Others

• Enterprise Europe Network: EU-wide network supporting SME internationalization and innovation, of which Business Turku has been a member since 2008. Comparable as the enabling ecosystem that channels EU funding and internationalization mandates through Business Turku's daily operations.
• EURADA: European Association of Development Agencies representing regional development organizations across Europe. Comparable as the umbrella network of which Business Turku is functionally a member organization, providing best-practice sharing, EU project matchmaking, and policy advocacy for regional development agencies.

Regional players

• Turku Chamber of Commerce: Local business membership organization in Turku providing networking, advocacy, and advisory services. Comparable as a regional business support institution operating in the same geography, though more advocacy-oriented than Business Turku's investment promotion focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/BusinessTurku
• LinkedInlinkedin.com/company/businessturku
• Instagraminstagram.com/businesstku

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 Business Turku