June 16, 2020
DAILY BRIEF: Accelerating sustainability, biotech, 5G, hangover remedy, logistics and education
The Valkea growth club supports sustainable solutions such as electric mobility.
All the daily Finnish business news that works: Faron Pharmaceuticals, Nokia, Health Hack Labs, Nurminen Logistics, Fortum, School Day, New Nordic School, Kide Science and FAN Nordic Hub make headlines.
Faron Pharmaceuticals secures substantial backing, Nokia supports the growth of a 5G network in China, Health Hack Labs launches a hangover remedy drink, Nurminen Logistics develops new goods routes to China, Fortum introduces growth club Valkea, School Day, New Nordic School and Kide Science land deals globally, and FAN Nordic Hub accelerates sustainable food industry startups.
Finnish company Faron Pharmaceuticals has received a 2.1 million-euro loan from Finnish public funding agency Business Finland for Traumakine, a programme that addresses the treatment of acute respiratory distress syndrome (ARDS). The financing will support Faron’s plans to initiate a new novel process to manufacture interferon beta-1a, the active pharmaceutical ingredient in Traumakine. Faron wants to scale up its manufacturing capacity of beta-1a to meet potential future demand driven by COVID-19 and other viral infections.
Finnish company Nokia will provide multiple core networking products to China Unicom to support the expansion of its 5G SA Core network in China. The collaboration builds on Nokia’s existing 4G relationship with the Chinese communications provider, which has awarded Nokia an approximately 10-per cent share in the expansion. The core network performs a variety of functions, including setting up connections, managing bandwidth, scaling and securing, and, with 5G, opens up new use cases such as network slicing.
Finnish startup Health Hack Labs is launching its Fixu Drink recovery product in Russia, as well as in the US through a crowdfunding campaign. The startup claims that the drink acts as a hangover remedy thanks to the active ingredient dihydromyricetin, which is extracted from the Japanese raisin tree and used as a traditional hangover cure in Asia. Frustrated by the long process of securing a permit in the EU, Health Hack Labs decided to launch Fixu Drink in the US and Russia.
Health Hack Labs
Finnish company Nurminen Logistics has partnered with the Port of Narvik to offer routes for the train transport of goods from Norway to China. The partners aim to introduce new regular block train routes between the Norwegian port and two Chinese destinations, Hefei and Chongqing, in August. Norway exports 500 000 tonnes of processed fish products to China every year, and the routes will also support exports and imports travelling through the country to and from North America and Iceland. Nurminen Logistics opened a regular trainload service between Finland and China in 2018.
Finnish energy company Fortum’s new growth club, Valkea, will invest over 50 million euros in sustainable startups over the next three years while offering access to expertise and networks, industrial partnerships, pilot opportunities and co-working spaces. Valkea’s first premises is located in the fast-growing Maria 01 startup hub in Helsinki, and its portfolio includes six companies so far. These include leading Nordic electric mobility startups, a carbon removal marketplace, an energy technology provider, and a startup providing an industrial remote management solution leveraging virtual reality (VR).
A trio of Finnish education solution providers have started new international collaborations. School Day has entered into a strategic partnership with WholeSchools to introduce its student wellbeing analytics solution to schools across Mexico and Latin America. New Nordic School has partnered with Global Services in Education to bring its Finnish-based K-12 educational system to Southeast Asia. Finally, Kide Science has signed a new agreement with a kindergarten and school chain in Thailand for its playful early science education model.
VTT Technical Research Centre of Finland has selected 10 agricultural and food technology startups for FAN Nordic Hub, a Helsinki-based accelerator programme created in partnership with Valio and the University of Helsinki. Read our full report by clicking the headline.
Good News from Finland is published by Finnfacts, which is part of Business Finland.
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