Jyväskylä Startup Factory has utilized the GrantedAI Advanced service for a long time to support its clients’ funding advisory.
With the help of the service, Startup Factory coaches identify grant funding opportunities for their early-stage client companies and outline their funding paths. Next, Marko Sorri, CEO and coach at Startup Factory, opens up about the multi-year collaboration with Grants.
Startup Factory’s mission is to create commercially viable companies in Jyväskylä
Jyväskylä Startup Factory (Jyväskylän Yritystehdas Oy) is a non-profit limited company owned by the University of Jyväskylä, the City of Jyväskylä, and JAMK University of Applied Sciences. Startup Factory helps early-stage companies and business idea owners refine their plans and supports their implementation.
The most important mission of Startup Factory is to generate commercially viable companies in Jyväskylä that change people’s lives for the better. “Whether it’s equality or, for example, energy efficiency, we hope for a positive societal impact from the companies in our processes,” Sorri says.
Incubator activities and entrepreneur coaching are at the core of Startup Factory
Jyväskylä Startup Factory offers services both for those still planning to start a business and for already established startups. Each year, 12 new startup companies begin the Startup Factory program, remaining in coaching for a maximum of two years.
Additionally, about twenty individuals participate annually in entrepreneur coaching conducted at the University and JAMK interface. “Our entrepreneur coaching programs are year-long, and some participants may later move into our other services once the criteria are met,” Marko Sorri specifies.
In addition to these core services, Jyväskylä Startup Factory organizes half a dozen “From Idea to Business” courses annually, along with various events.
Identifying funding options and planning the funding path with GrantedAI Advanced
Marko Sorri says he has followed Grants’ operations and service development closely from the very beginning. He notes he was delighted when Grants developed the GrantedAI tool, the benefits of which became clear to Sorri at a very early stage through discussions with Aki Pohjola.
”Companies consider different funding instruments even in the early stages and seek help in identifying suitable funding options and securing positive decisions. For identification and planning the funding path, GrantedAI is an excellent tool and a partner for the entrepreneur, alongside Grants’ funding application services. Since it’s also a Jyväskylä-based company, it has been a pleasure to cooperate.”
— Marko Sorri
Sorri explains that Startup Factory decided to use the digital GrantedAI Advanced product to streamline the funding processes of the early-stage companies in their service. “At the same time, we wanted to expose the key personnel of startup companies to seeing and evaluating funding options available from the public sector,” Marko Sorri adds.
GrantedAI Advanced serves as a daily tool for Startup Factory coaches
Startup Factory uses GrantedAI Advanced with both its incubator companies and the entrepreneurs in its coaching programs to open up their funding opportunities.
“Our coaches have access rights to the GrantedAI Advanced tool. The coaches activate and create a GrantedAI company profile together with the client and analyze both current and future funding opportunities. Some simultaneously create a funding path for the client company and consider future options. By modifying the profile, one can envision how the business operations will evolve in the near future and what funding options could be utilized then.”
Through GrantedAI, Startup Factory thus identifies funding opportunities together with the client company, identifies potential funding instruments, and builds funding plans.
The tool identifies opportunities, and the application service helps with the process
The collaboration between Startup Factory and Grants has lasted for several years. There are two primary reasons for this:
”The GrantedAI tool helps a lot in our daily work when we assist early-stage companies with funding matters. The second important reason is that Grants also provides concrete help if a client needs assistance with the application process itself. We do not write applications on behalf of the client. Over the years, we have seen how effectively Grants’ process supports our client companies from applications all the way to reporting and disbursements.”
The GrantedAI tool thus assists the coaches at Jyväskylä Startup Factory in their work identifying client funding opportunities, while Grants’ funding application service provides client companies with help in the actual application processes.
Grants brings ease to the growth entrepreneur’s daily life
Marko Sorri estimates that Grants’ services particularly benefit companies with growth plans for their business and the desire and ability to utilize various funding options to achieve them.
“There are so many funding instruments with constantly changing terms and application periods that it’s easy to get lost in the jungle. The GrantedAI tool brings relief to growth entrepreneurs in identifying current funding opportunities.”
— Marko Sorri
Finally, Sorri notes that companies should especially contact Grants if they have upcoming development projects related to, for example, business development, further product refinement, increasing market understanding, team growth, or utilizing external services.