Omegawave aims at international market leadership with new Finnish management and great Helsinki atmosphere
As Omegawave’s CEO Juha Pinomaa sees it, Helsinki has huge potential to create companies where international know-how, strong technical expertise and the spirit of doing things flourish. Led by Pinomaa and Anssi Vanjoki, and supported by Finnish Conor Venture Partners, originally American Omegawave – specialized in performance measurement and coaching optimization – has now become Finnish. This new Omegawave wants to take over the number one position both on professional and consumer markets with largely domestic weapons: new headoffice, new management, considerable finance and wireless technology.
For a long time supertrendy Berlin was considered as most potential home base for Omegawave, but in the end the most qualified company leader was found from Finland. According to Pinomaa, Finnish know-how played a crucial role when choosing the location for the new company. Decision to choose Finland was also spurred by a Nordic and Baltic area start up business investor, Conor Venture Partners, which invested one million in Omegawave.
– Our high standard of mobile experts, the Nokia ecosystem and our active start up culture accelerated the decision to invest in Helsinki. So did the fact that Europe offered a great deal of references as well as market potential equal to the US. In addition, we were properly supported for transferring the business here, as our financial package was strengthened by both Conor’s investment and the R&D funding of TEKES (the Finnish Funding Agency for Technology and Innovation), says Pinomaa who also himself has invested in Omegawave.
More jobs, international atmosphere
Within half a year Omegawave has positively affected the situation in Helsinki. Only in six months it has created 11 new workplaces to the metropolitan area.
– Beside our full-day staff we employ part-time two students. In general it is awesome that a world’s top-level application in physiological measuring has been brought to Finland. Omegawave reinforces the Finnish well-being cluster and bolsters up our top-technology country reputation, praises Pinomaa.
At the same time, Omegawave lifts up the international image of Helsinki. Two of the company’s Russian-backgrounded American founders have already moved to Finland. Besides, the team has been strengthened by a Russian top physiologist. Also in sales there is a new person with an international top athlete background. No wonder Pinomaa thinks that for Helsinki’s image it is important to have both diversity and critical know-how in our metropolitan area.
– Helsinki is also an easy place to settle down. It is safe here and we have international schools, well-functioning infrastructure, good funding opportunities, lots of available office spaces and strong start up culture, he lists.
New pro-level products for consumers
So far measuring the performance of athletes has not been widely exploited which guarantees a nice demand for Omegawave products. The products differ from Suunto and Sportstracker equivalents: on the basis of a two-minute physiological analysis, Omegawave products also instruct to exercise correctly. A brand new wireless application can even measure the whole team in less than half an hour.
– Also in this area there is a revolution in sight as later this year Omegawave’s mobile application will be elaborated into a pro-version. This means that the athletes can take the sensors with them and quickly measure themselves in the mornings, Pinomaa reveals.
A fairly expensive Omegawave system has been mainly targeted and marketed for top athletes and professional teams. Yet the Omegawave technology is constantly being developed at the office building of Innopoli in Otaniemi, Espoo. In the upcoming months Omegawave is about to launch an easy-use mobile application for active and sporty people.
– Thanks to Omegawave’s capability for various body measuring we are going to expand the application from professional organizations to cover the whole field of well-being. These services can be easily commercialized, and for that purpose we definitely need Finnish iPhone and Android R& Dexperts, suggests Pinomaa.
