Finland has the best startup and growth company ecosystem in the world
Finland aspires to establish itself as the global leader in fostering a dynamic and thriving startup and growth company ecosystem, a vision that is woven into the fabric of the Finnish government's program. This ambitious pursuit is not a lofty goal, it's a strategic necessity for the country. But what makes this goal so pivotal for a country like Finland, and how does Business Finland stand as a key player in the realisation of this vision?
Why startups matter?
Startups are pivotal in Business Finland's strategy, driving innovation and sustainable solutions. By fostering their success, we tackle global challenges, fuel economic growth, and bolster Finland's prosperity. With 1,300 Finnish companies backed by €7 billion in VC investments and €1.4 billion in R&D funding, they generate €6.4 billion in turnover, contribute to €4 billion in exports, and employ over 25,000 people. From groundbreaking innovations in materials to cancer treatments, startups are at the forefront. This momentum is a government priority, recognising that supporting startups grows the pie rather than redistributing its slices.
Business Finland's Impact — Elevating High-Potential Startups
We zero in on dynamic startups committed to global growth, crafting products or services that tackle significant global challenges. By sharing risks with founders and investors, our funding amplifies their appeal to international investors. These startups often pioneer market-driven innovations with a digitally-enabled scalable model, primed for swift global market entry upon finding the right product-market fit. Simultaneously, our focus extends to deep tech startups rooted in cutting-edge scientific or industrial research. Armed with substantial intellectual property for a competitive edge, these startups hold the power to disrupt entire industries. Our commitment to ambitious, cross-disciplinary research continually pushes the boundaries of what's possible.
Fueling a Startup Surge
In recent years, the number of new startups has dwindled—a trend we're determined to reverse. Our focus is on creating a robust pipeline, targeting science-based ventures, corporate spin-offs, and international teams eyeing a startup launch in Finland. Business Finland's strategic presence in key startup hubs guarantees easy access to coaching and support. Collaborating closely with partners, we are committed to unearthing potential startups. A recent study by the European Investment Bank points to the potential of doubling yearly established deeptech startups by 2030. To support this goal, we're coaching teams involved in Research to Business projects at universities or research institutes, especially those planning to spin off a startup. Let's ignite the startup revolution!
Picture: The goal is to reverse the declining trend in the number of startups
Streamlined Support for Success
We're crafting a seamless service path, offering tailored coaching, funding, and internationalisation services. Recognising the unique needs of deep tech startups, we navigate diverse time-to-market, commercialization paths, and funding requirements.
Agreed milestones guide progress, with EU funding specialists directing towards optimal sources. Our Investor Services team actively showcases Dealflow to international investors. Business Finland Venture Capital is pivotal in developing the Finnish seed stage VC market, prioritising first-time managers and thematic investment strategies. Encouraging our VCs to attract international LPs is vital for a robust, global VC ecosystem. This crucial role will be integral in forming a new Finnish equity investment firm, merging BFVC, Tesi, Climate Fund, and Oppiva Invest and seamlessly paving the way for success.
Image: Finnish VC landscape 10 year ago
Image: And the landscape today
Elevating Finland's Expertise
We champion the creation of globally competitive competence clusters, focusing on thematic strongholds like New Space, Quantum, Health, Energy & ClimateTech, FoodTech, Immersive & Games, data analytics, Dual-use and defence, and New Materials. These thematic hubs have birthed numerous world-class success stories.
Finland's appeal lies in its robust ecosystem, attracting foreign founders effortlessly. The stability of the business environment, combined with an exceptional work-life balance, makes these sectors easily accessible. Finland offers a high quality of life, allowing ambitious startup founders to blend a thriving career with personal happiness seamlessly. Finland's startup brand is synonymous with leading expertise and unmatched contentment—we proudly stand as the happiest startup nation.
Image: Building blocks for the Happiest Startup Nation
Amplifying Global Reach
For startups, international scalability is key. The challenge lies in expanding beyond local markets, especially considering Finland's smaller size. To help Finnish startups scale and mature, our extensive international network spans 40 locations, connecting them with vital partners, accelerators, and customers. Break barriers, unlock potential—global success starts with strategic connections.
Connect with Us
Explore our services and team on our website. Tell us about your company's growth ambitions, market, team, and innovative solutions — we're here to coach and fund startups.