OYSTER – Health and Life Science Incubator

The aim of the project is to launch the first health and life science incubator in the Oulu region based on a concept developed in a separate project. The goal is to create new health and life science companies in the Oulu area that enable the commercialization of research innovations, utilize a demand-driven co-development model, and create new jobs for skilled professionals trained in our region.

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The main objectives of the project are:

• To pilot and further develop a health and life science incubator and identify an expert network supporting the growth, internationalization, and innovation activities of startups and engage them in the incubation process.
• To increase the number of new health and life science companies and jobs in the Northern Ostrobothnia region.
• To promote the internationalization of startup companies and collaboration with international corporations, enabling small and medium-sized enterprises to enter international markets as quickly as possible.
• To increase students’, researchers’, and teams’ interest in entrepreneurship and identifying business ideas.
• To establish a permanent operating model for the incubator.

The project will result in the establishment of a health and life science incubator with a clear content structure tailored to the specific needs of the industry to support the development of business ideas for teams and companies participating in the incubation process. The incubator will have physical premises in the Kontinkangas area of Oulu, and a permanent operating model will be established.

The project will create a new operating model in the region that facilitates the identification of business opportunities and encourages and activates entrepreneurship. Additionally, a new model will be developed to facilitate faster internationalization of health and life science startups and initiate internationalization earlier in the process.

The project will also develop a set of metrics to enable systematic development work.

The funding for this project, partially provided by the Just Transition Fund (JTF) of the European Union, has been granted by the Regional Council of Northern Ostrobothnia. The City of Oulu acts as the main coordinator of the project, with Oulu University of Applied Sciences and the University of Oulu participating in its implementation.