Finland, Porvoo, December 21, 2020. - Business Finland has selected four companies as the winners of their growth engine competition: Lamor, Unikie, Vaadin and Family in Music. Each company is committed to pursuing at least EUR 1 billion in new innovation-driven business in its ecosystems, of which they are key companies. Growth engines are implemented through a company-driven partnership model between companies, research organizations and public actors.
"Choosing Lamor as one of the winners of the Business Finland growth engine competition is a great recognition for us. Our company has been developing business models in the network business since the 1980s, hence the transition to a platform and ecosystem business model is a natural continuation of our company’s developmental path. We believe that this project will be a global success story from the perspective of the environment as well as Finnish environmental technology companies,” says Mika Pirneskoski, Lamor’s CEO.
” We entered the competition by making an offer outlining how we were going to achieve our ecosystem’s billion-euro growth target, while simultaneously making a return on the capital loan to be granted,” Pirneskoski comments.
The goal of Lamor’s growth engine project is to reduce the amount of waste in water. The goal is in line with e.g. the UN Sustainable Development Goals. In addition, the focus is on growing the business of Finnish high-tech environmental tech companies.
To achieve these goals, it is important to develop a solution based on eliminating key challenges and deadlocks in the industry, in order to achieve a business-driven overall solution. A sustainable outcome requires the development and implementation of a business model and a management model that supports this, which effectively considers the requirements for communication and information management.
Lamor plans to pilot the development of a platform business model for the plastic waste recovery ecosystem, but the company also plans to create other ecosystems for its main three business lines, which are oil spill response, waste management and water treatment.