Xiphera receives Business Finland's Young Innovative Company funding
June 23, 2022 -- Xiphera has been accepted for the Young Innovative Companies funding from Business Finland. The received funding for the first period is € 250,000.
Young Innovative Companies (NIY) is Business Finland’s funding program for young Finnish companies. The funding targets companies that are under five years old and aim for high growth in international business. Additionally, the funding enables companies to strengthen their team and develop business model and strategy, as well as target new potential markets.
When analyzing and selecting the funding candidates, Business Finland requires a clear business plan targeting both rapid and international growth, and a business model designed for scalability and internationality. Companies are also required to have a full-time management team with ownership and business development interests and resources for the key roles in the company.
Xiphera fullfils the requirements of the funding, aiming for rapid, international growth and expansion. The company has adequate resources for such expansion, and key employees and the management are committed for developing and improving the company.
Xiphera’s product and service offering as well as the mindset have been set for international business since day one, and increasing global business networks and operations have always been our objective. We have international partners and sales representatives and we attend events around the world on regular basis, expanding our global network even further. Additionally, Xiphera meets Business Finland’s requirements for the age; we celebrate our five-year birthday later in the summer of 2022.
Validating previous and enhancing future success
“We at Xiphera highly appreciate the guidance we have received from Business Finland during our interactions with their team in the NIY funding process”, says Tommi Lampila, Xiphera’s Director of Business Development.
The NIY funding will be used for expanding and improving Xiphera’s international business. “The positive funding decision from Business Finland enables Xiphera to ramp-up and accelerate our ongoing efforts to scale our international business”, Lampila explains. “Being accepted into the Young Innovative Company program validates our early successes and capabilities in taking our expertise and solutions to the most demanding overseas customers.”
Related Semiconductor IP
- Gen#2 of 64-bit RISC-V core with out-of-order pipeline based complex
- LLM AI IP Core
- Post-Quantum Digital Signature IP Core
- Compact Embedded RISC-V Processor
- Power-OK Monitor
Related News
- Xiphera Builds Faster and More Secure Data Processing – Business Finland Supports Development
- Arteris IP Supports Dream Chip Technologies Innovative Business Model for Automotive SoC Development
- Lattice Semiconductor Takes Additional Action to Reduce Operating Expenses; Company to Discontinue Millimeter Wave Business to Focus on Core Business Opportunities
- Innovative Advantage upgrades streams from HD to 4K in business jets with the intoPIX TICO RDD35 Technology
Latest News
- BrainChip and Parsons Sign Strategic Agreement to Accelerate Edge AI Defense Systems
- Ainekko Brings Open-Source Principles to AI Hardware with Launch of AI Foundry
- Arteris Selected by Axelera AI to Accelerate Computer Vision for Edge Devices
- Preliminary Characterisation Report for Perceptia’s pPLL08W in GF 22FDX Now Available
- VSORA Launches Europe’s Most Powerful AI Inference Chip