NY Start Up -entrepreneurship program
NY Start Up is a university course where you will form a student company (called JA Company). You create your idea and test that in the real market using real money. The company can be based on a new innovation or a concept or it can be about your own skills and passion, which you would like to monetize.
You can create a company that is developing the new cool app, it can be about offering a cleaning service, language or sports club for primary school students or design products for homeowners. YOU decide!
The company can be a team or you can set it up alone. To join the NY Start Up program, you do not have to have an idea beforehand. You just need to have entrepreneurial mindset and will to learn and try new things. This program is the first concrete step towards entrepreneurship and you decide the scale of it!
The goal of the program is to create and test your own idea or object of passion. You have an opportunity to get a glimpse into the world of entrepreneurship without great financial risks. As a bonus you have a possibility to create a business operation afterwards or develop important networks for the future.
Why you should join?
Finland’s only national entrepreneurship program, which is used by +20 universities in Finland
The international program (JA Start Up) is running in 20 countries across Europe
Based on learning by doing – no long lectures about how to be an entrepreneur
Program is about YOU, you will create the business and implement it
National and international competitions
Best video competition in Finland (in the spring)
Best online presence competition in Finland (in the spring)
NY Start Up -finals in Helsinki in 8.-9.5.2019 (one team representing Oulu)
JA Europe Enterprise Challenge in Oslo in June (European final) (one team representing Finland)
You will decide
What your company will do;
How big your company will become;
Who are your partners;
How you will develop your idea and operations;
What will happen after the program (we have some suggestions for you).
How does it work?
NY Start Up -program is designed to support your first steps in the world of entrepreneurship. Junior Achievement Finland has set up the rules for the program and here is the main information.
We recommend that each JA company would have 3-8 people in the team, so one person’s absence does not hinder the company’s activity
The size of a group should not be an issue to implementing a good idea, so you can set up the company alone as well
A companies have no legal status and therefore do not have a business ID
According to the Finnish Tax Administration ruling, JA companies do not register as an official enterprise
JA companies however register to the NY Start Up -program database (nystartup.fi)
When students set up the JA company, each member will invest 10-100 EUR in the company, which will be company’s initial capital
The maximum share capital for one JA company is 1300 EUR
JA company does not pay taxes in itself. Instead, the profits of the JA company are divided among the stakeholders, when the company is closed down
The distributed profits are considered taxable earned income, which must be reported in the personal tax return in the “other earned income” field
If JA company’s annual net revenue is under 10 000€, it does not need to pay VAT.
If the net revenue is rising over 10 000€, an actual company must be founded and it must be registered as VAT obliged
JA companies are NOT allowed to do VAT deductions. This means that e.g. the VAT of purchased materials cannot be deducted
When a customer (concerns mostly companies) purchases a product, the sales price does not contain VAT. The company purchasing JA company’s products is not allowed to deduct VAT from the invoice
Safety and insurance
Students are covered by basic insurance as taking part in NY Start Up -company tasks. They are considered students participating in regular student activities. In general, schools assume the responsibility for minor accidents.
JA Finland has a liability insurance to cover non-company related accidents. We cannot insure the direct activities that the JA companies are performing due to the lack of information of the field, risk level and requirements for the activity beforehand.
Solely the JA companies registered with the program as JA companies are covered by the insurance.
Schedule is still preliminary and changes are possible. Program starts 27.11.2018.
You can register to the program HERE.