Startup accelerator DEFINE Accelerator to boost the growth of security and dual-use technologies
A new defence and security startup accelerator, Defence Innovation Network Finland’s DEFINE Accelerator, has been launched in Riihimäki, bringing together key actors from the Finnish Defence Forces, leading defence companies and educational institutions.
The accelerator aims to speed up the development of technological innovations and promote company growth with the help of the strong defence sector, technical infrastructure and expertise of Riihimäki and Kanta-Häme.
Riihimäki: a pioneer of Finnish defence technology
The Riihimäki region has strong traditions in high technology and defence innovation. Robotics teaching has been part of the curriculum of the city’s comprehensive schools for years, fostering an early interest in technology. The expertise of Häme University of Applied Sciences (HAMK) in the fields of automation, robotics and mechanical engineering produces professionals with high-level technical skills and a strong understanding of new technologies.
“Our mission is to help startups succeed by providing the right resources, mentoring and connections to partners that enable companies to navigate the demanding environments of the defence sector and commercial markets,” says Teemu Seppälä, Technology and Innovation Director of the City of Riihimäki.
Riihimäki is also home to key defence organisations such as the Finnish Defence Research Agency, the Command and Control Systems School, the Electronic Warfare Centre, the Centre for Military Medicine, the Logistics School, the Army Signals School, the proto lab of the Systems Centre of the Defence Forces Logistics Command, and the industrial companies Sako and Millog. Together with these organisations, Riihimäki has grown into Finland’s leading actor in the defence and technology field. “We understand how important it is to bring the defence industry closer to entrepreneurs and startups. DEFINE is a very welcome project that helps develop the future of defence technology in Finland,” says Toni Piispa, Millog’s Director, Authorities and Industry.
The DEFINE Accelerator business accelerator, coordinated by the City of Riihimäki, is run by Redstone, a Berlin-based venture capital firm that also has offices in Helsinki and Zurich. The three-month accelerator programme supports startups developing dual-use technological solutions suitable for both military and commercial use. The accelerator opens up access for participants to a network of world-class mentors, experts and defence sector actors. Within the accelerator, participants can validate their technological solutions and test their commercial potential. The most advanced companies also have the opportunity to raise funding to grow their business.
NATO’s newest member has a thriving defence industry
Europe’s geopolitical reality has changed, and since Finland now has the longest border with Russia of all NATO members, the Finnish defence industry has developed extremely rapidly. The Association of Finnish Defence and Aerospace Industries (PIA ry) estimates that the turnover of the Finnish defence industry will grow to EUR 2.5 billion this year. According to a recent study by the state-owned venture capital company Tesi, the annual revenue growth of Finnish dual-use companies has averaged a whopping 30% over the past three years. Finland’s accession to NATO has expanded the market of Finnish companies to 32 countries.
The Defence Forces have always been an integral part of Finnish society. Finland is one of the few European countries with a large reserve and mandatory conscription.
The current development of Finland’s defence industry is in line with the broader development of the European Union. According to the European Commission, EU member states spent EUR 100 billion on the defence industry between February 2022 and June 2023, of which 80% went to procurement from outside the EU. The Commission is now seeking to change this balance, and its goal is that by 2030, 50% of defence procurement will come from Europe.
World-class support and expertise
The DEFINE Accelerator business accelerator is made up of a respected group of experts, including Lieutenant General (ret.) Ilkka Korkiamäki, who serves as the programme’s special advisor. Korkiamäki brings invaluable experience to the team. He has served in various positions in the Finnish Defence Forces, including as Chief of Personnel of the Finnish Defence Forces, Rector of the National Defence University and Chief of Command and Control Systems at the Defence Command.
The accelerator is led by head coaches Kaj Hagros, an expert in strategy and business development, and Oskari Lehtonen, an expert in investments and market growth. The accelerator’s coaching team also includes experts from the defence sector and from the industry’s most successful dual-use companies such as ICEYE, Varjo and Kelluu.
Military innovation extends beyond the battlefield
Many dual-use solutions born from military innovations have had a profound impact on society. Some of the world’s most advanced technologies, such as the Internet, GPS and the touchscreen, have emerged from defence research and development. DEFINE proudly continues this tradition by promoting the creation of technologies that benefit both commercial and defence markets.
European defence startups are also on the rise. According to Dealroom, deals worth USD 976 million were made in the sector in 2023, compared with USD 614 million in 2022. A significant part of this is due to public sector investments, such as NATO’s one-billion-dollar startup fund and the European Investment Fund’s EUR 175 million fund for dual-use technologies.
Applications open for the first accelerator programme
DEFINE is now accepting applications for the accelerator programme, which is due to begin at the end of 2024. The programme is open to startups and early-stage companies with scalable technological solutions, an MVP (Minimum Viable Product) or prototype, and a motivated team. Participants selected for the accelerator will receive mentoring from top experts in the defence and technology fields, the accelerator’s facilities and infrastructure in Riihimäki, and a direct connection to potential investors and customers in the NATO and EU ecosystems.
Interested startups can apply to the accelerator programme on the website: DEFINE Accelerator – Defence Innovation Network Finland (definefinland.fi).
About DEFINE
Defence Innovation Network Finland (DEFINE) is the Nordic countries’ leading innovative defence ecosystem, launched by the City of Riihimäki. Its goal is to build an international, high-level defence and security network. DEFINE’s innovation ecosystem brings together the best military and civilian experts to create new innovations that serve both military needs and society as a whole. The DEFINE dual-use technology business accelerator project is co-funded by the European Union, and the project’s funding authority is the Häme Centre for Economic Development, Transport and the Environment. The project’s other funders are OP Häme and the City of Riihimäki.
About Redstone
Founded in 2014, Redstone VC is a leading European venture capital firm headquartered in Berlin with offices in Zurich and Helsinki. Redstone focuses on early-stage European companies operating in seven key sectors: industrial deep tech, fintech, proptech, energy efficiency, climate tech, quantum computing and social impact ventures. Redstone has built and actively managed a portfolio of more than 100 companies through this focused approach.
