Operating Principles

The purpose of the Technopolis Online operating principles is to clarify how the database is maintained. These principles were created in order maintain consistency, improve quality and to allow more accurate comparison over time. If there are items that need more clarification, please let us know at technopolisonline@technopolis.fi

Criteria for high tech companies to be included in the database

• Headquartered in Finland or significant R&D operations in Finland
• Primarily develop high tech product/solution, or have a unit that primarily develops high tech product/solution
• Has active operations

Criteria for venture capital firms to be included in the database

• Finnish or foreign venture capital firms that have made investments into Finnish companies or actively scan Finnish companies
• Criteria for business angles to be included in the database
• Finnish or foreign individuals who have made an investment into a Finnish company
• Some business angels in the database do not have their investments listed in the database due to an individual’s request.

Sources of information

• All information in Technopolis Online database is validated by a team of analysts
• All information the team gathers is from public sources or such information to which the right for publishing has been granted
• Sources include company’s website, investor’s website, blogs and twitter feeds, news articles and media
• Financial information (revenue, profit/loss, employees) is provided by Suomen Asiakastieto Oy

What are “Key people”?

• Key people primarily include management level people and board of directors

What information do we collect about Key people

• Relevant current and past work history
• Link to LinkedIn public profile
• Professional bio
• Email + mobile (this information is not available for regular users)

Most viewed companies –list 

• Most viewed companies –list is refreshed weekly
• It ranks companies based on number of clicks by different users

Naming policy

• Name for Finnish companies is taken from the database of Yritys- ja Tietojärjestelmä (YTJ) and we will use the primary name assigned to it. 
• All Finnish private companies are given abbreviation “Ltd” instead of “Oy” to make it clear for international users. If “Oy” or “Ltd” are placed in front of the actual company name, we move it at the end to enhance the usability of alphabetical lists.
• All Finnish public companies are given abbreviation of “Plc” instead of “Oyj” for the afore mentioned reasons
• To improve the accuracy of the information, Technopolis Online uses a method of adding clarifying comments of companies into their name field. The following are used:
• FKA = Formerly known as
• AKA = Also known as
• Subsidiary of…
• Acquired by…
• Bankruptcy date:
• Sample format: Name Ltd (AKA X, FKA Y, Subsidiary of Z)

Number of employees 

• For companies headquartered in Finland, global personnel count is listed
• For companies with foreign headquarters, only personnel count in Finland is listed

Company stage categories

• Seed
• Seed stage companies are firms who don’t yet have any products or services available for customers, even though the company can have a lot of R&D operations already. At this phase the companies are usually very small and personnel amount is kept in the minimum required.
• Start-up
• Start-up companies are usually in a phase of development and research for markets, but they can often already have some prototype or first product in the market. Start-up companies often operate with low resources, because they don’t yet generate much revenue.
• Pre-revenue
• Pre-revenue companies have already started their sales and marketing operations and the company is trying to expand. Pre-revenue companies are starting to penetrate to market and add depth to their product portfolio, in order to achieve more revenue and profits. Pre-revenue companies often also establish operations in strategically important locations besides their headquarters. This helps them to reach the important markets easier.
• Revenue Growth
• Revenue growth companies have normally a stable market position and they are remarkable players in their own field of business. These companies have several products and services and they are often operating in many market areas.

How are primary and secondary industries assigned? 

• When assigning industry classifications, issues that are taken into account are: primary industry of operations, type of products and technology, target customers, future product releases/roadmap
• If some companies have in your opinion incorrect industry classification, please contact us at technopolisonline@technopolis.fi

Investment related disclaimers

• Technopolis Online tracks all investments into Finnish high-technology companies. In accordance with the aforementioned company criteria, this excludes investments into companies that have made an exit or are headquartered abroad. The information on investment value, date, round and investing parties are tracked and analysed using public sources and by contacting key personnel. If the investing party is an affiliate of a foreign VC, private equity company or corporation it is assessed as a foreign investment, even though it might have Finnish operations. Investments from individual persons are regarded as Angel investments solely, without assessment of their domestic or foreign roots. For reporting the date of the investment, Technopolis Online uses the date of its announcement, when no other date is publicised. Unless the source explicitly tells who the lead investor was, the investor listed first in the press release will be marked as the “lead” investor. All disclosed information is verified by a team of analysts and only published when it is from a public source or a right to publish it has been received.

• Venture Capital investments are categorized as private equity investments where new funds are allocated to companies, thus discounting investments or a portion of the investments which involve a transferral of ownership, such as an exit or a buyout. The data used is maintained and updated continuously and is therefore subject to change as new information arises.