New Startup Foundation to support Finnish entrepreneurs

Startup Sauna and Aalto ES have joined forces to launch Startup Foundation (Startup-säätiö).

The goal of the Foundation is to build a sustainable startup ecosystem in Finland, and establishing Helsinki as the centre of entrepreneurship and innovation in Northern Europe.

The Foundation will fund and operate three different programs and events:

1. Startup Life - an internship program where students are sent abroad to work at startups around the world
2. Startup Sauna - the already established accelerator program for startups in Northern Europe, the Baltics and Russia*
3. Slush - the largest tech, design and startup conference in Northern Europe and Russia (Slush 2012 is scheduled for November 21-22)

The programs will be housed at Sauna Space, which was formerly the Aalto Venture Garage, a coworking space at Aalto University.

All three programs will operate under the Startup Sauna brand.

The Foundation says it will also offer financial support to other organizations that support its goal.

Organizers say they've already secured €1 million in funding for the program, from individual donors, the Finnish innovation fund Sitra, the Finnish Ministry of Economy and Employment, Tekes and Confederation of Finnish Industries.

For more on Startup Foundation, go to: http://startup-saatio.fi/

*It should be noted that Startup Sauna does not take equity in its startups