Peter Vesterbacka & Kustaa Valtonen

Peter & Kustaa


Listen on

Apple Podcast

Helsinki-Tallinn Tunnel

Helsinki-Tallinn Tunnel project innovation, Kustaa Valtonen

“Actions speak louder than words, so we’re just getting it done. As simple as that.”


Peter Vesterbacka
Peter Vesterbacka is an entrepreneur from the Finest Bay Area at the Heart of Eurasia, Helsinki, Finland. Branded communities co-created and initiated by Peter include the HP Bazaar, Mobile Monday, Slush and Startup Sauna to name a few. He was the Mighty Eagle at Angry Birds for many years taking that brand to unprecedented heights. Peter is also currently adjunct professor of Innovation and Entrepreneurship at Tongji University, one of the leading universities in China. In 2011 Time Magazine named Peter one of the 100 most influential people on the planet.

Kustaa Valtonen
Working hard on building the FinEst BayArea! I am heading the Finest Bay Area Development Company program management office. The project is getting ready to construct the Helsinki-Tallinn tunnel ( We are looking for innovation to make the tunnel safer, faster to build and cost efficient.
Tunnel innovation managed via FinestLove from CrazyTown program.

Finest Bay Area Development has expanded it’s scope by being active in developing ecosystems like the Triple E Campuses in Kirkenes Norway and several cities around Finland. Finest Bay Area also catalyzing Cluster development with Smart City Innovation Cluster and the creative space cluster Open Creative House.

Startup investments made through my privately held investment company Valtonen Capital and jointly owned Random Ventures. Both making early stage capital investments in startup companies. I hold board positions in many companies.



Peter Vesterbacka & Kustaa Valtonen

The full #OPNAskAnAngel talk

Jeffery: Welcome to impact investing brought to you by from the student visa capital of the world Toronto Canada I’m your host Jeffery JP Potvin and let’s please welcome from the sauna capital of the world cleanest water and the with the most heavy metal bands Helsinki Finland we have Kustaa and Peter who are building the very first underground rail connecting Helsinki and Tallinn in Estonia. Welcome, Kustaa, Peter, it’s a real pleasure having you back on the show.

Kustaa: Thanks. Great to be here.

Peter: Yeah, thanks. Awesome back.

Jeffery: I love it. Well, to kick things off and I know this is going to be a little bit of a different segment because we’re doing a follow up to a previous interview that we did. So we’re doing a follow up to this massive project, this $15 billion project that you guys are working on. But because we want to do jump back into how this all started and where this all came from, maybe we’ll jump back into a little bit of cost and maybe you can share a little bit just super high level again, a bit about yourself and background and then Peter and then we’ll jump in to how those projects coming along.

Kustaa: All right. So my name is Kustaa Valtonen, an entrepreneur business angel with a tech background from companies like HP, Microsoft a long time ago investing my time and money into early stage companies and that with Peter we we ran a joint investment company that has about I think, 60 startups in the portfolio at the moment. And then of course we’re running this hits and keep telling an undersea railway tunnel project. So that’s one of the topics on the agenda today.

Jeffery: I love it. And Peter, how about yourself?

Peter: Yeah, yeah, yeah. So entrepreneur here in finance Bay area Hub and Finland have more specifically and yeah basically been focusing on increasing the talent density here in our new world. So in many areas we’re already leading the way. So I liked your point about Toronto being like student visa capital of the world. So we’re going to take you on for that. So we’re actually attracting a lot of talent, a lot of students to Finland and to Estonia and to Sweden right now sort of on this Bay Area. And that actually is also one of the reasons why we’re doing the tunnel project. So that’s one way of creating gravity when you invest 15 billion into infrastructure and in this case in Japan, it creates a lot a lot of, you know, these kind of like ripple effects. And and that is kind of one of the main main reasons. But then now if you look at, you know, our part of the world and I always talk about the Finnish Bay Area, we have the highest number of startups per capita. We have the highest number of unicorns per capita. And maybe most importantly, we have the highest amount of venture capital invested in local startups per capita. So if you look at like obviously the number of Estonia was number one, Finland number two in number three, Sweden number four and the US number five. When you look at venture capital for capital, we always have to add the per capita because we’re tiny little countries up here in north. So you know, have regard for it in absolute numbers, but we can do a pretty good job, you know, when you look at the per capita numbers. So yeah, the total project is like I don’t know if you can call it the tip of the iceberg in this case, because it is like the iceberg or like below water, but it’s sort of like a body. Yeah, if it’s got like upside down, like tip of the iceberg because it really is just like tiny little detail in this bigger scheme of things. And that is all about increasing the talent density and extending the lead that we currently have over the rest of the world when it comes to, you know, the startup ecosystem. And of course it’s all about the fuel. You know, it’s really people, namely young people. And that’s a big, big focus of our sun that we’re going to take on Toronto and the rest of the world. When you look at like number of student visas and maybe we don’t even add to the per capita thing, there will be a few in absolute numbers as well. So yeah, that’s awesome.

Jeffery: Well, I know that right now we’re sitting at a million students, I believe a year that have been it’s increased some staggering amounts. So I think that if more countries start to look at this.

Peter: But they’re not all in Toronto, that’s like Canada.

Jeffery: No, Correct. They’re they’re spread across Canada. Right. So that’s I believe that’s the full immigration number. And right now there’s 500,000 students coming in a year. So and what they say is that within three years, all of those people are moving to Toronto. So I think there’s some incredible maybe shift in migration across Canada.