Xiphera has been accepted for the Young Innovative Companies funding from Business Finland. The received funding for the first period is € 250,000.
Young Innovative Companies (NIY) is Business Finland’s funding program for young Finnish companies. The funding targets companies that are under five years old and aim for high growth in international business. Additionally, the funding enables companies to strengthen their team and develop business model and strategy, as well as target new potential markets.
When analyzing and selecting the funding candidates, Business Finland requires a clear business plan targeting both rapid and international growth, and a business model designed for scalability and internationality. Companies are also required to have a full-time management team with ownership and business development interests and resources for the key roles in the company.
Xiphera fullfils the requirements of the funding, aiming for rapid, international growth and expansion. The company has adequate resources for such expansion, and key employees and the management are committed for developing and improving the company.
Xiphera’s product and service offering as well as the mindset have been set for international business since day one, and increasing global business networks and operations have always been our objective. We have international partners and sales representatives and we attend events around the world on regular basis, expanding our global network even further. Additionally, Xiphera meets Business Finland’s requirements for the age; we celebrate our five-year birthday later in the summer of 2022.
Validating previous and enhancing future success
“We at Xiphera highly appreciate the guidance we have received from Business Finland during our interactions with their team in the NIY funding process”, says Tommi Lampila, Xiphera’s Director of Business Development.
The NIY funding will be used for expanding and improving Xiphera’s international business. “The positive funding decision from Business Finland enables Xiphera to ramp-up and accelerate our ongoing efforts to scale our international business”, Lampila explains. “Being accepted into the Young Innovative Company program validates our early successes and capabilities in taking our expertise and solutions to the most demanding overseas customers.”