OYSTER Health and Life Science incupator

In recent years, there have been few new growth-oriented companies in the health and life science sector in Northern Ostrobothnia. However, there are opportunities for significant business growth, as our region has high-quality research activities, a health care ecosystem and a diverse range of technology companies whose capabilities could be utilized in the development of future healthcare solutions. The project pilots incubator activities to accelerate the creation of new businesses. The health and life science industry needs incubation activities that specialize in the industry, as new companies need support that takes into account the special characteristics of the industry from the very beginning.

The aim of the project:
• Pilot the health and Life science business in the Oulu region.
• Create new health Life science companies and business operations in the Oulu region.
• Further develop the incubator model, ensuring the functionality of the concept.
• Creating an action plan and a business model for establishing incubator operations after the end of the project.

Actions to be taken in the project
1. Activating measures for incubation operations
• A new operating model will be created in the area, which will help identify business opportunities and encourage and activate entrepreneurship.
• A health and life science incubator and a permanent operating model for incubator operations will be built on Kontinkangas.
• A health and life science incubator will be built in the area, with a strong content package that is clear and takes into account the specific needs of the industry, in order to support the development of the business idea of the teams and companies involved in incubation activities.
• A new operating model for the faster internationalization of health and life science start-ups will be built in the area, as well as for starting internationalization earlier.

2. Incubator implementation plan and facilities
• A health and life science incubator and a permanent operating model for incubator operations will be built on Kontinkangas.

3. Incubator operations piloting
• A health and life science incubator will be built in the area, with a strong content package that is clear and takes into account the specific needs of the industry, in order to support the development of the business idea of the teams and companies involved in incubation activities.

4. National and international networking, communication and marketing
• A new operating model for the faster internationalization of health and life science start-ups will be built in the area, as well as for starting internationalization earlier.

5. Incubator operation indicators and continuous development
• Instrumentation and tools that enable the systematic development of operations.

The OYSTER Health and Life Science Incubation Project is a group project coordinated by Business Oulu. The co-executors are Oulu University of Applied Sciences and the University of Oulu. The budget for the entire project is €1,880,456. The University of Oulu's share of the budget is 629 744 € (source of funding: JTF 80%, City of Oulu/OIA 10% and self-financing 10%). From the University of Oulu, Kerttu Saalasti Institute's Microentre and Martti Ahtisaari Institute are involved in the implementation of the project.

Contact people
Heikki Ailinpieti, project researcher, heikki.ailinpieti@oulu.fi, +358 50 564 0849
Peetu Virkkala, project researher, peetu.virkkala@oulu.fi, +358 50 516 9608
Martti Saarela, rerearch director, martti.saarela@oulu.fi +358 50 473 5470