Hospital turned hub: Maria 01 hits €1 billion in funding
Since its was founded in 2016, Maria 01 has grown into a powerhouse of Nordic innovation, with member startups having just passed the €1 billion funding mark. As one of Europe’s leading startup ecosystems, Maria 01 is also proving that small businesses can thrive even in a tough economy.
The Maria 01 model
What sets Maria 01 apart is its emphasis on community over simple co-working. According to CEO Sarita Runeberg, the idea from the beginning was to bring together the smartest minds, the best business ideas, and the most scalable opportunities in Finland to help them grow. But it’s not just a co-working space where startups share desks.
“It’s much more tight-knit,” Runeberg says. “We also have investors, venture capitalists, media, and many other ecosystem actors all operating under the one roof.”
This approach has helped numerous Maria 01 startups scale successfully. Runeberg can point to alumni companies that have gone from flex desks to become major players. “We’ve had founders come in with just a single desk in a shared space who now take up hundreds of square meters, closing funding rounds in the tens of millions, and employing dozens of people,” she says.
Maria 01 also benefits from relationships with other industry partners, like Slush, with which it shares ownership through the Startup Foundation. Slush is the globally-renowned startup showcase that brightens Helsinki every year during its darkest November days. And the two complement each other. “Slush creates a massive surge of energy over a few days each year, but Maria 01 keeps that momentum going all year round,” Runeberg explains.
From ghosts to growth
Maria 01 is housed in a sprawling former hospital, so it’s no surprise that the conversation eventually turns to ghosts. There are murmurs about things moving or going missing. Runeberg laughs these off as “urban legends,” saying “I’m actually a very science-based person, so I don’t have too many concrete examples to give you.”
However, she does recount a time when an elderly woman arrived at reception with heart problems, prompting them to quickly call an ambulance. “Of course, we do have a lot of doctors here, but they’re academics and don’t practice medicine,” Runeberg jokes.
A dynamic leader with fluency in seven languages and a background in gaming, Runeberg is overseeing a record increase in membership applications from startups keen to join the almost 200 companies already active in the community. This year, most applicants have been from health tech and gaming companies, alongside a rapidly growing number of AI-focused teams.
Many of these founders are second-time entrepreneurs or seasoned professionals, a trend Runeberg sees as typical during economic downturns. “If you become an entrepreneur during times like these, you really have to think very thoroughly about what you’re doing, and be able to make your money stretch as far as possible,” she says. But the need for innovation remains strong, and Runeberg predicts high future demand for solutions tied to the climate crisis and green transition, as well as defence technology.
Playing the Nordic advantage
Finland’s flat, non-hierarchical and collaborative culture plays a role in this unique startup environment. “There’s a strong ‘give-back’ mentality here,” Runeberg says. “Experienced founders help younger entrepreneurs by sharing knowledge and making introductions.”
Maria 01 also welcomes a diverse range of talent, including foreign entrepreneurs. This is done through NGOs like Shortcut, which educates and positions immigrants and international professionals for startup roles. That, in turn, helps brings fresh perspectives and expertise to the ecosystem.
As part of its commitment to inclusivity, Maria 01 also aligns with Finland’s focus on gender equality in innovation. “We’re seeing more women stepping into leadership roles and founding startups, particularly in fields like health tech and AI,” says Runeberg.
Governmental delegations, NGO groups and other interested organizations from around the world also visit the Maria 01 campus regularly. In 2024, Runeberg and her team hosted around 40 delegations from 20 countries.
“That’s about one group a week, and they come because they want to learn how we have built this community, Runeberg says. “That’s really the thing that’s unique here.”
Laurel Colless is a Finland-based sustainable business consultant and freelance journalist.
