Visitors from Silicon Valley praise Oulu´s technological know-how

“The level of technological competence in Oulu is the world´s best-kept secret – a veritable hidden treasure." This is one of the ways in which Oulu´s technology companies were today encouraged to seek business opportunities in the US market.
“We hope to contribute to Oulu becoming a more recognized name in Silicon Valley," says Chuck Erickson, Executive Director and CEO of US Market Access Center (US MAC), a business incubator based in San Jose in the heart of California´s Silicon Valley.

At a breakfast conference organized by Oulu Innovation, Mr. Erickson and Omar Mencin, the Managing Director of US MAC, gave pointers to Oulu-based companies possibly looking to penetrate the US markets and make a start in Silicon Valley. The pair also acquainted themselves with local companies during their visit to Oulu.

Tools for global success

According to Mr. Erickson, Oulu has top-class technological know-how, a first-rate scientific community and good infrastructure, in other words ample tools for global success.
“Marketing and sales pose the greatest challenges for Finns, and Finnish companies should engage in these activities much more aggressively.

Finding the right partners, contacts and financiers are also key requirements for market entry,´ says Mr. Erickson.
One software development company that is based in Oulu and is currently making efforts to gain a foothold and find suitable partners and funding in Silicon Valley is called Targetor. Antti Hintikka, a representative of Targetor, says that Oulu Innovation and US MAC helped find relevant market information on potential partners and provided advice on how to make a business appear more credible.

The recession has reduced Silicon Valley´s cost level

San Jose is home to over 6,300 technology companies, including internationally recognized enterprises such as Adobe, Cisco, eBay and IBM. California´s Silicon Valley is the world´s leading high-tech hub and the sixth-largest economic area in the world. According to Omar Mencin, it offers excellent opportunities for rapid growth to new hi-tech companies with good ideas.

“The US economic recession has not had much of an impact on Silicon Valley, as the crash there took place in the early 2000s. The recession has actually reduced the cost level in the region,´ says Omar Mencin.

Chuck Erickson and Omar Mencin´s visit to Oulu is a follow-up to the cooperation created between the City of Oulu and San Jose, the largest city in Silicon Valley, and falls within the scope of the Oulu Innovation Global Clusters program.