Vake’s projects are designed to accelerate the development of the entire field within our themes – aimed at improving the wellbeing of individuals, the functioning of society and the capacity-building of businesses. Vake’s goal is to benefit others, not simply profit for itself. Vake is a bold project partner. We accept challenges as well as high risks and expect high potential.
For project partners
We do things in our projects that others usually cannot. In a typical scenario, project partners work together towards a common solution that none of the participants could achieve alone but that will benefit a large number of users. Vake’s projects usually involve several stakeholders. The resources are handpicked from the networks of experts at the top of their field. Vake’s role is to facilitate and enable success.
Vake utilises a wide range of tools and methods. Vake does not grant subsidies – instead, it invests in purchases that at the end of the project are typically released into public use. The projects involve ecosystem development, design sprints, challenge competitions, business accelerators and open-source model and code creation. Vake can also invest in founding entirely new entities.
Vake chooses the projects based on their anticipated impact. The projects must fall within the scope of Vake’s themes and programmes, such as AI in Healthcare. Projects are also selected on the basis of how effective Vake’s instruments are in achieving the desired outcomes. Besides project facilitation, Vake serves as a venture capital investor so it is only natural for us to join in projects that will result in new businesses in need of funding.
During autumn 2019, The Finnish State Development Company Vake’s strategy will be specified together with the owner, which may cause some changes in our operations in the future. We will keep you informed as the process moves forward.