Recap of the fifth Entrepreneurship Evening: The story of Vitim Oy (Polina Kachurina)
On Monday March 17 Polina Kachurina gave us an interesting presentation on a technology company Vitim Oy. Vitim Oy is specialized in different speech technologies such as biometric identification, automatic speech recognition and automatic transcription systems, just to name a few.
For those, who are not that familiar with voice biometrics. Voice Biometrics is a technology used for capturing a voiceprint from a speaker and comparing that voiceprint to the existing prints in the database. This technology has two main applications: authentication (verification) and identification. It’s easy to believe that in the future this technology has great potential, for example in securing information.
Besides learning about the new technology, it was interesting to hear, how the speech technology can be helpful in many different areas (business, security, healthcare). As the population of Finland is getting old, speech technology in healthcare industry can be of great help, for example by increasing productivity in this industry.
Furthermore, it was intriguing to hear about the challenges, which Vitim Oy had encountered in Finland, and how it had solved those challenges. As a business development manager Polina Kachurina had gained firsthand experience on launching and operating a business in Finland. Before that she had no previous knowledge about what it would be like to operate a business in the Finnish business environment. At the beginning of launching the business in Finland, one of the challenges was finding employees with the right skills and knowledge. Besides finding the right employees relatively high taxation was (and still is) a challenge. One of the advantages of the Finnish business environment was the governmental funding available through TEKES and Finnvera.
Regarding the future Polina Kachurina mentioned that one of the biggest challenges lying ahead for Vitim Oy, would be obtaining funding. As Vitim Oy, like many other startups, relies heavily on R&D and R&D tends to be often costly and long-term before the technology is actually ready for a commercial use.
It was great to hear about the story of Vitim Oy and the applications of this new technology. We wish all the best to Vitim Oy for the future!
Brought to you by Ilari Lyytikäinen