Svenska handelshögskolan

Hanken Business Lab receives record funding


The business incubator Hanken Business Lab at Hanken School of Economics has been granted €750,000 by the Louise and Göran Ehrnrooth Foundation for the next five years. The agreement also includes a reservation for the same amount for an additional five years, resulting in a total of €1.5 million. Hanken will see to it that the donation is matched with €1.5 million.

Hanken Business Lab staff
Hanken Business Lab staff Hanken archive

“We are immensely grateful for the long-term support from the Louise and Göran Ehrnrooth Foundation. This is a significant milestone in our efforts to promote entrepreneurship. The support is both insightful and inspiring, enabling the long-term and systematic development of services that greatly benefit our entrepreneurs, innovation activities, and society at large," says Markus Wartiovaara, director of Hanken Business Lab.

Hanken Business Lab was founded in 2016 in Helsinki and expanded to Hanken in Vaasa a year later. The lab’s activities encompass three categories: pre-incubation services for those wanting to start a business, incubation services to support existing companies, and acceleration services for those seeking growth.

The funds from the Louise and Göran Ehrnrooth Foundation will primarily be used to enhance the incubation activities, which will be named Ehrnrooth & Partners Incubation Community (EPIC).

“Hanken has been an important long-term partner for the Foundation and we look forward to continuing the very promising incubation activities of Hanken Business Lab with our investment. We strongly believe that investing in entrepreneurship and entrepreneurial skills is something that benefits not only Hanken but the whole country in the long run. We are also eager to see the diverse and interesting companies that the incubation community will sift out,” says Georg Ehrnrooth, Chair of the Louise & Göran Ehrnrooth Foundation.

The operations at Hanken Business Lab emphasize openness and support not only Hanken students and alumni but also other individuals interested in entrepreneurship, as well as established companies and associations in the Helsinki and Vaasa regions. The focus is on innovative ideas with growth potential and international scalability.

Nearly 60 companies and organizations are members of Hanken Business Lab, including Reveel, Catermate, HankenES, Pongfinity, Mobal, Mjuk and Enfuce.

“Over the past two years, our activities have made significant strides. Our team has doubled in size, allowing us to play a key role in entrepreneurial growth, both locally and globally. We appreciate that the Louise and Göran Ehrnrooth Foundation recognises the potential in what we’ve built and supports our continued growth journey. The donation is a crucial milestone in our fundraising campaign," says Ronny Eriksson, responsible for fundraising at Hanken Business Lab. 

The Louise & Göran Ehrnrooth Foundation was established in 1991 by bank manager Göran Ehrnrooth and his wife Louise. The Foundation supports long-term innovative activities in the fields of education, environmental protection and agriculture, societal activities and culture in Finland with over one million euros annually.

Additional information:
Markus Wartiovaara, director, Hanken Business Lab, phone +358 40 820 2100, email:
Ronny Eriksson, project manager, Hanken Business Lab, phone +358 50 517 7908, email:


Hanken School of Economics is a leading, internationally accredited university with over a hundred years of experience in education and research in economics and business administration. The research is of a high standard and constitutes the foundation of all teaching. Hanken has close ties to the business community and an active alumni network with over 13 000 alumni in 65 countries worldwide. 

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