New defense startup program DEFINE Accelerator launched in Finland to push growth in security and dual-use technologies

A new defence and security-focused startup program, DEFINE Accelerator (Defence Innovation Network Finland), has launched in the City of Riihimäki, Finland bringing together key players from the Finnish Defence Forces, leading defence companies and educational institutions.

The accelerator aims to fast-track technological innovation and drive commercial growth with the help of Riihimäki and the Kanta-Häme region's strong defence and technical infrastructure and expertise.

Riihimäki: Pioneering Finland's Defence Technology Future

Riihimäki region has a strong tradition of advanced technology and defence innovation. For years, the city's primary schools have integrated robotics education into their curriculum, cultivating early interest in tech. Häme University of Applied Sciences, with its expertise in automation, robotics, and mechanical engineering, produces graduates with advanced technical skills and a strong understanding of new technologies.

"Our mission is to help startups thrive by providing them with the right resources, mentoring, and connections to the partners to navigate the complexities of both the defence and commercial markets," said Teemu Seppälä, Director of Technology and Innovation in the City of Riihimäki.

Riihimäki is also home to key defence institutions, including the Finnish Defence Forces Research Agency, CXNUMXI School, Centre for Electronic Warfare, Centre for Military Medicine, Logistics School, Signal School, Protolab of the Joint Systems Centre of the Logistics Command, and industry companies Sako and Millog. Together, these organizations cement the city's role as a critical player in Finland's defence and technology sectors. "We understand the importance of bringing the defence industry closer to entrepreneurs and startups. DEFINE is a much welcomed initiative to help shape the future of defence technologies in Finland," said Toni Piispa, Vice President, Millog.

Coordinated by the City of Riihimäki, the DEFINE Accelerator program is managed by Redstone, a venture capital firm based in Berlin and operating also in Helsinki and Zürich. The three-month program supports startups developing technological solutions with both military and commercial applications. The program provides participants access to a world-class network of mentors, industry experts, and defence stakeholders, offering a program to validate their technologies, test commercial potential, and for the most advanced ones – secure investments for scaling their businesses.

NATO's Newest Member: Finland's Booming Defence Industry

The geopolitical reality in Europe has shifted, and with Finland now holding the longest border with Russia among NATO members, the country's defence industry has evolved rapidly. The Finnish Defence and Aerospace Industries Association (PIA) estimates its turnover to be €2,5 billion this year. According to a recent study by the Finnish state-owned investment company Tesi, the annual turnover growth of Finnish dual-use companies has averaged an impressive 30 percent over the past three years. Finland's entry into NATO has expanded the market for Finnish companies into 32 countries.

In Finland, the Defence Forces have always been an integral part of the society. Finland is among the few European countries that have extensive conscription and mandatory military service.

The current evolution of Finland's defence industry aligns with the broader direction the European Union is taking. According to the European Commission, EU member states spent €2022 billion on the defence industry between February 2023 and June 100, with 80 percent of that amount going to non-EU purchases. The Commission now aims to shift this balance, targeting that by 2030, 50 percent of defence spending will come from Europe.

Specialist Support and Global Expertise

The DEFINE Accelerator consists of a distinguished team of experts, including retired Lieutenant General Ilkka Korkiamäki, who acts as a special advisor for the program. Korkiamäki adds invaluable experience to the team. He has served in various positions in the Finnish Defence Forces, including the Deputy Chief of Staff Personnel in the Defence Command Finland, the Rector of the National Defence University and Assistant Chief of Staff in the Defence Command Finland.

The accelerator will be led by head coaches Kaj Hagros, who specializes in strategy and business scaling, and Oskari Lehtonen, an investment and market growth expert. The accelerator's overall coach pool includes experts from the defence domain and some of the industry's most successful dual-use companies, such as ICEYE, Varjo, and Kelluu.

Military Innovation Goes Beyond the Battlefield

Many dual-use solutions born from military innovation have had a profound impact on society. Historically, some of the world’s most advanced technologies — such as the Internet, GPS, and touchscreen originated from military research and development. DEFINE proudly continues this tradition by fostering the creation of technologies that benefit both commercial and military markets.

European defence startups are also gaining momentum, with the sector securing in 2023 $ 976 million in deals, in 2022 up from $ 614 million, according to Dealroom. A significant part of this is driven by public sector support, such as NATO's $ billion startup fund and the European Investment Fund's €175 million fund for dual-use technologies.

Applications Open for the First Cohort

DEFINE is now accepting applications for its accelerator program, scheduled to start in late 2024. The program is open to startups and early-stage companies with scalable technological solutions, an MVP or prototype, and a motivated team. Selected participants will receive mentorship from top defence and technology experts, access to facilities and infrastructure in Riihimäki, and direct connections to potential investors and customers within the NATO and EU ecosystems.

Interested startups can apply via the DEFINE website: DEFINE Accelerator – Defense Innovation Network Finland (definefinland.fi).

About DEFINE

Defense Innovation Network Finland (DEFINE) is Nordic’s leading defence ecosystem innovation initiated by the City of Riihimäki. Its goal is to build an international, high-level defence and security industry network. As an innovation ecosystem, DEFINE brings together the best military and civilian experts to create new innovations that serve both military needs and society as a whole. DEFINE Dual Use Business Accelerator programme is co-funded by the European Union, OP Häme and City of Riihimäki.

About Redstone

Established in 2014 Redstone VC is a leading European venture capital firm based in Berlin with offices in Zurich and Helsinki. The firm focuses on early-stage European companies operating in seven key sectors: industrial deep tech, fintech, property tech, energy efficiency, climate tech, quantum computing, and social impact ventures. Redstone has built and actively supported a portfolio of over 100 companies through this focused approach.