From idea to start-up in less than six months

PikaPay Oy is developing an application that will allow you to shop completely independently. The idea for PikaPay was born in 2021, when one of the company's founders, CEO Oskari Hervonen, thought that there must be an alternative to queuing at the store and that queuing shouldn't make you late for work.

PikaPay tiimin Oskari, Juuso ja Teemu sohvalla

It's always worth telling someone about the idea

The idea of an app that would make it easier to go to the store was on Oskari's mind. Oskari started his business studies at LAB University of Applied Sciences in August 2022. He heard about Business Mill's services right from the beginning of his studies, and he met Business Mill's Tiia Puolakka on the sixth day of school.

Tiia and Oskari met a few times, and after brief discussions, Business Mill was recommended to participate in the LUTES Forward program. At Forward, Oskari met both Juuso and Teemu. When the program started, they each still had their own ideas to develop, but on the fourth day, Oskari convinced Teemu and Juuso to join in around the idea of PikaPay. The team was assembled, and the business idea was taken forward with renewed vigor.  The company was founded in December 2022, just a month after Forward. In February 2023, the team raised their first round of funding and then started building MVP. MVP was launched a couple of months later at the Aalef kiosk at LUT University.

Business Mill has been an important partner in the development of the company

Business Mill has provided advice on how to access finance, improve the business and take the business forward. In addition, the team has received a full three rounds of Otsakorpi support, a total 7250€. Business Mill has been an important partner in developing the business from the very first meeting. "Without Business Mill's help and support, PikaPay would not exist - yet", confirms Hervonen.

The team also participated in the Idearace business idea competition, which was a valuable opportunity to pitch their business idea to a full theatre audience. PikaPay won the audience's favorite prize. The team was a strong candidate in the student category, but the jury said they had already gone beyond the idea stage.

Business Mill and LUTES are the heart of entrepreneurship on campus: they also need premises and a start-up accelerator

Business Mill, LUTES, and the Forward program have been important pillars for the PikaPay team. The team hopes to see facilities and other services suitable for start-up entrepreneurs in the heart of Skinnarila Campus. The team would also like to see a startup accelerator in the area, aimed at companies that have moved beyond the idea stage and are growing their business. Currently, almost all programs are for idea-stage companies and teams. Start-ups with big growth potential are starting to emerge in the region, so it's time to respond to the demand!

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