Demola and BusinessOulu Connect Talent and Companies Through Innovation Projects – Future Expert Launchpad is now in Oulu!
The Future Expert Launchpad (FELP) aims to support the employment and skills development of highly educated international professionals, graduating students, and individuals seeking new career directions. FELP offers participants the opportunity to work on genuine, market‑driven projects and strengthen their expertise through hands-on collaboration.
Demola is a Finnish company with 15 years of experience in new concept development and co-creation. Its globally operating innovation platform brings together talent and real business needs.
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Originally published on 2 Mar
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The Baltic Sea Hydrogen Collector (BHC) project has received €15.3 million in EU funding to support preparatory work for a future cross-border hydrogen infrastructure. Recognized as a Project of Common Interest (PCI), BHC aims to connect Finnish and German renewable hydrogen markets, contributing to Europe’s energy transition, market integration, and energy security.
The funding will be used for preparatory activities, including technical (pre-FEED), regulatory, and environmental assessments. These studies aim to explore the potential of BHC as a future cross-border hydrogen import corridor, supporting Europe’s long-term energy transition and energy security.
The planned Baltic Sea Hydrogen Collector (BHC) project, an offshore pipeline connecting Finnish and German renewable hydrogen markets, is receiving support from the European Union. Gasgrid Finland, Copenhagen Infrastructure Partners (CIP), and GASCADE Gastransport GmbH are grateful to receive a €15.3 million grant from the EU’s Connecting Europe Facility (CEF) programme. BHC is a Project of Common Interest (PCI), essential for Europe’s energy transition, energy security, and market integration.
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Originally published on 28 Oct
Stena Line strengthens its position in the Baltic Sea by acquiring NLC Ferry Ab Oy/Wasaline and taking over operations of the ferry route between Umeå in Sweden and Vaasa in Finland.
“It is with great joy and enthusiasm that we at Stena Line take on the responsibility for Wasaline and the route between two important regions and cities, Umeå and Vaasa,” says Niclas Mårtensson, CEO of Stena Line.
The only existing ferry connection between Umeå and Vaasa is jointly owned by the two cities through the 50/50-owned company Kvarken Link, which in turn owns NLC Ferry which operates under the auxiliary name Wasaline. Under the agreement signed today, Stena Line will acquire NLC Ferry and take over the operation of Wasaline. The vessel Aurora Botnia, which sails the route, will continue to be owned by Kvarken Link, the company jointly owned by the two cities.
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Originally published on 4 Nov
Lithuania is transforming the timelines for strategic investment development in Europe. The country’s Investment Highway initiative, entering into force on November 1, 2025, enables large-scale projects to progress from initial decision to active construction in as little as three months, thus positioning Lithuania as one of Europe’s most agile investment destinations.
Accelerating pre-construction timelines
The Investment Highway removes traditional bureaucratic bottlenecks in territorial planning and construction permitting processes. Qualifying investors can begin building immediately after publishing a construction notice, while permitting proceeds in the background. The framework also enables phased construction, allowing work to commence on completed sections of the technical project while other components remain in design. These changes deliver substantial time savings compared to previous timelines, where the journey from site selection to construction could stretch up to three years.
In practice, this means pre-construction timelines shrink by up to 50% for all large-scale projects – from 36 months down to around 19 months. Projects establishing operations in Lithuania’s seven Free Economic Zones, where territorial planning is already complete, can break ground even faster, reducing timelines from 24 months to just 9 months. Defence sector projects benefit from the most dramatic acceleration: timelines compress from 36 months to just 3 months in non-urbanised areas and from 36 months to 10 months in urbanised locations.
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Originally published on 3 Nov
On Thursday, October 30, Latvian Prime Minister Evika Siliņa and Lithuanian Prime Minister Inga Ruginiene met with representatives of the Latvian Chamber of Commerce and Industry (LCCI) and the Lithuanian Chamber of Commerce, Industry and Crafts (ALCCIC), as well as representatives of entrepreneurs from both countries, focusing on the conclusions of the study “Baltic Tiger” and the idea of a joint global brand for the Baltic States.
During the meeting, the main conclusions of the study “Baltic Tiger” conducted by the Latvian Institute for Strategic and Economic Studies “LaSer” were presented. The author of the study, Professor Daunis Auers, pointed out that in order for the Baltic countries to maintain their growth rate and security stability, deeper integration is needed in four areas: defense, diplomacy, functional cooperation, and joint branding. The study shows that the potential of the Baltic region increases when the countries act as a single player rather than three separate economies. Closer integration and a shared economic vision can become the main drivers of growth in the region. The author also emphasized the importance of the Nordic countries’ experience—close cooperation and joint solutions have helped to strengthen economic and political stability.
“The economies of Latvia and Lithuania are closely linked, and we have ample opportunities to deepen cooperation, especially in the defense industry and the digital sector. With a more favorable environment for entrepreneurs, closer economic cooperation, and fewer bureaucratic obstacles, we can increase the international competitiveness of the Baltic region,” said Latvian Prime Minister Evika Siliņa.
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Originally published on 30 Oct
The European Investment Bank (EIB) has signed a €500 million green loan to Iberdrola for the Windanker offshore wind farm, a flagship clean energy project currently under construction in the German Baltic Sea.
The financing is guaranteed by the Spanish export credit agency, Cesce. This transaction with Iberdrola marks the inaugural use of a guarantee developed by the EIB and Cesce, to support green projects led by Spanish companies outside Spain, contributing to the European Union’s climate action and environmental sustainability objectives.
The new project will generate clean energy for thousands of homes, accelerate Europe’s electrification and energy security, driving new employment, economic opportunity, and state-of-the-art renewable energy innovation.
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Originally published on 3 Nov
On May 27, 2026, Riga will host the second International Drone Summit, bringing together defence ministers from the countries of the International Drone Coalition, leading experts, and companies from the defence industry. The summit will serve as a leading platform for discussions and future decisions, where Drone Coalition and allied nations will have the opportunity to agree on further drone deliveries to Ukraine, discuss the development of the drone industry, and establish new partnerships with drone manufacturers and innovators.
“Latvia has taken on international leadership in the drone industry not only by heading the Drone Coalition but also by promoting the development of the drone industry, fostering cooperation among entrepreneurs, and driving innovation. It is important that we continue to strengthen the defence capabilities of our country and its allies by encouraging closer cooperation between industry, science, and military sector,” notes Latvian Minister of Defence Andris Sprūds.
At this year’s international high-level Drone Summit, the establishment of the Autonomous Systems Competence Center, also known as the Drone Centre, was announced. The center has already begun operating at full capacity, ensuring the development, testing, and implementation of the drone and counter-drone capabilities required by the Latvian National Armed Forces, as well as close cooperation with industry and research partners from Latvia and allied nations.
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Originally published on 3 Nov
The European Investment Bank (EIB) is lending Finnish energy supplier Teollisuuden Voima Oyj (TVO) €90 million to upgrade two nuclear power units in Finland. The project involves reactors 1 and 2 of a power plant on the southwestern island of Olkiluoto and aims to ensure continued safe, low-carbon electricity generation in line with national and European Union rules.
TVO plans to update automation and control systems and replace components known as steam separators in the Olkiluoto 1 and 2 units. The upgrades, which will be implemented progressively over a multi-year timeline, are essential for maintaining high safety standards and operational reliability at the Olkiluoto power plant, which has a total of three units.
The planned improvements are required under Finnish and EU nuclear-safety legislation. They are part of TVO’s long-term investment programme to ensure safe and efficient operation of the Olkiluoto plant and follow other EIB-backed enhancements at the site in 2016.
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Originally published on 30 Oct
We are excited to announce that Nordic Science Investments, an early-stage venture fund advancing research-empowered entrepreneurship across the New Nordics, has joined EstVCA as a new member!
Launched in February 2024, the fund has currently invested in 19 spinouts and startups, working at the crossroads of scientific disciplines and emerging technology, transforming frontier research into scalable, globally competitive companies.
Madis Lehtmets, Managing Director at EstVCA: “Nordic Science Investments is an excellent addition to the EstVCA community, enriching it with valuable knowledge and experience from the science-based innovation field. As EstVCA has become increasingly outward-looking, building relationships across Europe and beyond is more important than ever. Having a new member with a strong Nordic presence and partner-level connections adds significant value to our network.”
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Originally published on 27 Oct
Baltic Energy Island has commissioned three analytical documents to serve as a foundation for discussions about the perspectives Energy Island Bornholm holds for Bornholm’s future development.
The studies follow up on a socio-economic analysis conducted by the Centre for Regional and Tourism Research (CRT) in 2023, which examined the local economic and employment effects of the Energy Island project.
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Originally published on 31 Oct
In September, Latvian entrepreneurs and scientists participated in the world’s largest exhibition, EXPO 2025 Osaka, at a business conference organized by the Investment and Development Agency of Latvia (LIAA) entitled “How Innovation in the Aerospace Industry Can Promote Sustainability and Environmental Conservation,” highlighting Latvia’s expertise and innovation potential in the field of space and smart technologies.
The conference took place as part of the Expo 2025 Osaka thematic week “The Future of Earth and Biodiversity,” bringing together experts, industry representatives, academics, and students from Latvia, Japan, and other countries to seek solutions on how sustainable aerospace technologies can help preserve the environment and biodiversity.
The conference was opened by Latvian Foreign Minister Baiba Braže. In her speech, she emphasized: “Latvia’s achievements in innovation, ICT, quantum technology and other new technology fields are recognized worldwide. The geopolitical situation has promoted the development of the domestic security industry, including in the field of drone technology. Latvia also has the advantage of extensive technology testing opportunities – more and more manufacturers from our allied countries are coming to Latvia to test the latest generation of drones. We have also achieved a lot in quantum technologies – we are a “small quantum superpower” whose professors have developed algorithms that account for up to 20% of the world’s quantum algorithms. The minister also pointed out that confirmation of our companies’ achievements is also reflected in investor assessments – the investment climate in Latvia has improved significantly, and half of existing investors plan to continue investing in Latvia in the future.
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Originally published on 29 Sep