Background
Startup Sauna, founded in 2010, open sources seed acceleration to the most promising startups from Northern Europe, Baltics and Russia.
Open source, you say? Startup Sauna believes that seed acceleration should be every great early stage startups’ right! Monetization happens somewhere else along the way.
We want to increase the quality and volume of deal flow using the lessons learned from examples like MySQL and Linux, apply them to startups and attract investors and talent into the region. Yes, our program is free and we do not take equity stakes from the companies that get selected to the program.
We aim to create a pay-it-forward culture into Europe as there is no need to repeat the same mistakes as someone else did before. Taking about half of the teams to Silicon Valley during the program not only helps them understand SV as a market place, assess whether it’s a market for their startup but also understand what the “pay-it-forward-culture” really means. And hey let’s face it, entrepreneurship can be tough and lonely. We believe that given the right support, the chances for success increase dramatically.
Our program is based on three success factors:
- Gathering the best startups to work and live together
- Coaching from serial entrepreneurs, investors and other professionals
- Pushing the startups to run faster than their competition
The Sauna Story
Going into a sauna is a process of clarifying thoughts and founding new visions. In Startup Sauna, the selected teams are theoretically thrown into a scorching hot sauna, with our Coaches adding up the heat and throwing more water on the stones. The ideas, the teams start sweating-getting rid of the toxins. Come Demo Day at the end of the program, the teams will all have shed away the excess weight and are fresh, clean and ready to take on the world!
What Happens in Startup Sauna?
During the Startup Sauna, the selected teams work intensively to develop their business model, technology & its applications, and early market entry. The teams graduating will be prepared to seek for initial investments and first customers. Startups will go through blood, sweat and tears to become the next success story.
Who can participate in the Startup Sauna?
We seek talented teams that are eager to learn and need pushing to take their startups to the next level. Each team invited to the program will be granted a grant of 1500 euros to cover travel and accommodation expenses.
The Selection Process
Teams are chosen through the Startup Sauna Warmups. Teams will pitch their business and attend intensive 1on1 coaching session. Selected by our coaches, the winner of each Warmup is invited to the 6-week program at Aalto Venture Garage.
In addition, some teams are selected through open applications.
Startup Sauna is funded by Aalto University, Aalto Center for Entrepreneurship and Finnish Funding agency for technology and innovation.
