ICEYE, a Finnish space technology company, was announced as the winner and audience favourite of the 2024 Building Growth competition, organised by the Finnish Venture Capital Association (FVCA) and PwC. The competition highlights the most inspiring growth stories from companies backed by venture capital and private equity, with a focus on collaboration between the company and its investors to drive growth.
Each year, a jury of external experts selects the winner. This year’s panel included Leena Niemistö, board professional and startup investor; Gustav Eilertsen, Vice President of Innovation & Venturing at Fortum; and Anni Erkko, Managing Editor at Finnish business media Talouselämä.
The jury was particularly impressed by ICEYE’s journey from a university research project to significant international growth. ICEYE’s collaboration with venture capital firm Lifeline Ventures, which has supported the company since its early days, was also a key factor in its success.
“All of the finalists had extremely impressive growth stories,” the jury commented. “In ICEYE, what stood out, beyond the remarkable growth figures, was the company’s mission. Their technology has the potential to help solve major societal challenges. ICEYE has achieved something no one else has, and it’s incredible to see such expertise here in Finland.”
The competition’s other finalists included Gigglebug, SuomenAvustajapalvelut and RoimaIntelligence.
“The Building Growth competition is always a great opportunity to witness the remarkable innovation and entrepreneurial spirit emerging from the private equity community. The finalists highlight exceptional talent and business acumen, each demonstrating a unique vision for driving sustainable growth. We are excited to support these visionary leaders as they pave the way for a brighter future”, comments Jussi Lehtinen, Partner at PwC.
The Building Growth competition has been running for over a decade, with previous winners including well-known companies such as Virta, Swappie, Smartly.io, Kamux, and Musti and Mirri.
“The Building Growth competition once again showcased amazing growth stories. This year’s finalists represented a range of industries, from space technology to personal assistance services, animation studio, and software solutions. It’s also a reflection of the diversity in the private equity and venture capital space. Congratulations to the winner, and a heartfelt thank you to all the finalists.”, comments Anne Horttanainen, Managing Director of the FVCA.
Additional information:
Anne Horttanainen Finnish Venture Capital Association, Managing Director anne.horttanainen@fvca.fi
+358 40 510 4907
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