Venture Capital for Impact Initiative

The Hanken Venture Capital for Impact (VCI) Initiative brings together key researchers, entrepreneurs, investors, students and VC-industry to promote research, teaching and international collaboration with regards to entrepreneurship and venture capital.

The Venture Capital for Impact Initiative is based on a multi-disciplinary research collaboration project supported by the Ministry of Education and Culture USA-pilot program.

The VCI Initiative is designed to develop relevant knowledge, innovations and co-operation opportunities in close collaboration with the venture capital industry in the Nordics, USA and globally.

Research Focus on Unicorns

A special research focus is placed on the entrepreneurial value creation of unicorns, i.e. privately held companies exceeding the value of one billion dollars. The cross-disciplinary project focuses on the value creation of unicorns from various stakeholder perspectives, disciplines and industries. The disciplines and industries include amongst others artificial intelligence, auto and transportation, consumer and retail, cybersecurity, data management and analytics, e-commerce and direct to consumer, edtech, education, fintech, hardware, health, internet and software services, mobile and telecommunications, supply chain, logistics and delivery, travel and other.

Key research foci include amongst others human capital, valuation, networks, ecosystems and impact.

Venture Capital Research Unit


Markus Wartiovaara

Director of research unit


Tom Lahti

Academic director


Thommie Burstöm

Director of research impact


Finnish Venture Capital Association

Nordic VC scene

Nordic Venture Network

Venture Capital in Finland

Angel Investing in Finland

The European Data Cooperative (EDC) Initiative

Stanford Venture Capital Initiative

Berkeley Venture Capital Executive Program

Sir Ronald Cohen / Impact

Harvard Impact Weighted Accounts

Reporting Enterprise Value - Climate Prototype

Impact Management Project