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Vendep Selected as a Vigo Accelerator

Vendep has been approved as of the beginning of May 2012 as a start-up accelerator for the Vigo program initiated by the Finnish Ministry of Employment and the Economy. As an official Vigo Accelerator, Vendep will be able to accelerate the growth and internationalisation of its start-up companies by investing not only funds but also in particular its software and business expertise. After vigorous screening, five new accelerators were selected for the Vigo program.

Vendep’s core Vigo Accelerator Team comprises four managers located in Helsinki and California with a wealth of experience in start-ups, growth entrepreneurship, software and internet operations, and investments. In addition to these managers, the Accelerator Team includes nine experts who work primarily in the field of software development.

Vendep looks for start-up companies from Finland and Silicon Valley that have a clear vision of an online service aimed at growth markets and whose implementation requires a significant investment in software development. During the accelerator phase, Vendep invests not only in software development, but also in clarifying the business model, reinforcing the team and international growth. Together with entrepreneurs we help grow the value of the target company while finding both domestic and foreign start-up investors for the company.

“Our selection as a Vigo Accelerator marks an important milestone for us after ten years as a start-up accelerator. We already operate in accordance with the targets set by the Vigo program, and we invest in particular in ensuring initial funding for start-up companies. We also strive to develop our target companies into attractive investment targets for private venture capitalists,” comments Sakari Pihlava, CEO of Vendep Oy.

Further information:
Sakari Pihlava, CEO, Vendep Oy, +358 (0)40 771 3941, sakari.pihlava@vendep.com
Hannu Kytölä, Founder, Chairman of the Board, Vendep Oy, +358 (0)50 544 7162, hannu.kytola@vendep.com
Further information about the Vigo program: www.vigo.fi

Vendep in brief
Vendep is a start-up accelerator with a unique business model. Vendep works together with entrepreneurs to transform promising business ideas that require substantial software development into commercial successes. Our strategy is to acquire a shareholding especially in start-up companies with business ideas that we believe can be transformed into real innovations. Vendep was established in 2002 and has invested its expertise in over 30 associated companies that develop and offer targeted internet and mobile services for both consumers and enterprises.www.vendep.com
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