The Later Stage Award is one of the most well-followed Cleantech competitions in the world, and this year's competition is now at the stage in which each country nominates their own candidates. Mid and later stage Cleantech companies compete in ten different award categories. The companies represent a wide range of sectors in the Cleantech industry, such as solar energy, transportation, energy solutions, waste management, and water technology.
The following later stage Cleantech companies were nominated for the award from Finland: Optitune (bioenergy), Metgen (bioenergy), Ekonor (sustainable IT), Specim Spectral Imaging (food), Ouman (lighting/energy efficiency), One1 (smart grids/energy storage), Convion (smart grids/energy storage), Pegasor (smart grids/energy storage), VISEDO (transportation), and Enevo (waste management).
This year's nominees were selected by the Finnish Cleantech cooperation network, which includes Lahti Region Development LADEC Ltd, Cleantech Finland, the Strategic Programme for Cleantech at the Ministry of Employment and the Economy, the Centre for Environment and Energy in Oulu, and GreenNet Finland, which operates in Uusimaa.
Nina Harjula is one of the founding members of the Global Cleantech Cluster Association (GCCA), the umbrella organisation for Cleantech clusters, and she acts as development manager at Lahti Region Development LADEC Ltd. Harjula summarises the benefits of the competition: "The competition offers companies the opportunity to demonstrate their own expertise to international private equity investors and potential cooperation partners. Both are needed in order to boost the international growth of Finnish expertise and business operations in the field of environmental technology."
Finnish Cleantech companies have fared well in the competition in previous years, and placed at the top in their own award categories. Due to this success, the judging panel is expected to pay close attention to our nominees this year too. Success in the competition will place the awarded companies, which develop the local green economy, in the international spotlight too.
Nominees will be analysed carefully
In the next few months, the companies nominated for the Later Stage Award will be carefully evaluated based on their achievements, innovativeness, and business expertise. Head Judge Peter Adriaens (Professor of Entrepreneurship and Strategy at the University of Michigan) utilises the Keystone Compact analysis method in his evaluations. The purpose of the evaluation process is to select the top three companies in each category.
The judging panel, which comprises mainly private equity investors, will select the winners from the 30 companies that make it to the final. The winners will be announced at the Annual Later Stage Awards Gala to be held in Switzerland on the 3rd and 4th of December.
Global Cleantech Cluster Association in brief
The Global Cleantech Cluster Association (GCCA) provides companies with practices that can help them harness the benefits of international Cleantech cluster collaboration. GCCA's operations provide companies with the opportunity to reach potential investors, new markets, and influential networks, as well as gain access to technological resources and best practices. The founding members of GCCA are Swisscleantech, the Finnish Cleantech Cluster, Watershed Capital, and Technica Communications. Further information on GCCA and the nomination of candidates:
VISEDO Oy in brief
VISEDO Oy develops, manufactures and delivers electrical drive trains for heavy mobile work machine, marine vessel and bus applications. The drive trains are suitable for both hybrid electric (HEV) and electric vehicle (EV) solutions to harsh operating environment. The latest technology offers the optimal solutions to save fuel and to lower emission and noise levels. The company is located in Lappeenranta, Finland.
Lahti Region Development LADEC Ltd in brief
Lahti Region Development LADEC Ltd provides businesses with versatile business development services that cover the different stages of the business's lifecycle. Our top areas of expertise are environmental technology and industrial design. LADEC also leads the Finnish environmental technology cluster. The company has a wide international cooperation network, particularly in the Cleantech and growth investment sectors.