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Helsinki region - A region of excellence for innovative start-ups
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The Helsinki region forms a prosperous area of 1.3 million inhabitants in southern Finland and includes the capital Helsinki and neighbour cities Espoo and Vantaa with surrounding municipalities. The region produces 34 % of the Finnish GDP and more than 60% of Finland's university graduates live in the region, as well as the majority of technology actors. The regional innovation system spans from education and basic research through support measures to the formation and growth of high-tech spin-offs, rising stars and world leaders. Otaniemi cluster is a regional showcase as innovation network in practice. |
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Otaniemi Science Park
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the representative of Helsinki region, works as start-ups generating incubator and accelerator. Helsinki region and especially the Otaniemi Networking model in generating new technology companies has achieved recognised success in creating and cultivating a world-class cluster of technical research, entrepreneurship, start-up creation and commercialisation. |
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Investment in Research & Development (R&D)
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IResearch and technology development investments in Finland are on high level, 3.3 % of GDP in 2000 and in the Helsinki region the expenditure on R&D is even higher, 4,7 %. The private sector share is about 70 % of R&D investments. More information can be found in the Finnish information service Research.fi containing key statistics and other data on Finnish science and technology.
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Key policies that encourage R&D investment
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Finland has been ranked as a model country in European research policy benchmarking.
As the most populated area in Finland, the Helsinki region has all elements of educational, research and scientific competence. The Information and Communication Tech-no-logy (ICT) in Helsinki region is unique even by European standards, containing the basic structures, scientific institutions, education, research, R&D institutes, laboratories, development programmes, world-class firms and innovation players. The majority of these are located in the same area, Otaniemi in Espoo, in the heart of the region.
The Innovation Network and main players facilitating the setting-up and development of innovative firms in the Otaniemi Cluster are universities and research institutes in the area, like the Helsinki University of Technology (HUT) and the Technical research centre of Finland (VTT), development programmes and incubators, business generators and supporting area infrastructures. The Spinno development programme, Otaniemi Science Park incubator units and Innopoli as a business generator operate as a link between scientific knowledge and business. They form one of Europe's most extensive commercial science park centres and pro-vide technology-based tenant companies with space and practical help necessary for their businesses.
Together with the other actors in the model, the Otaniemi Cluster faci-li-tates the setting up and development of innovative firms offering co-operation channels, joint ini-tiatives and contact persons in the Universities of the region. The InnoTULI services evaluate 100 research results and ideas per year aiming to commercialise the most potential ones. The Spin-off Programme fosters the creation and growth of new high-tech companies, helping to set up some 50 innovative com-panies annually. The High Tech Mentor Programme helps selected groups of small high-tech companies into rapid global growth through a mentoring process. Venture Capital Funds (VCs) offer seed stage investments, financial consulting for young innovative enterprises and growth support for firm expansion. The Centre of Expertise Programmes and support measures for companies entering the markets promote the uti-li-sa-tion of internationally top-level knowledge and expertise in the activities of companies. |
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Growth in Venture Capital Industry
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Since it's birth in Finland in the 1980s, the venture capital industry has grown very rapidly. Initially, there were only a few private players, and the role of the government in developing financing instruments became very important as result. Today, there are about 40 venture capital organisations in Finland, and the capital available for investments exceeds 2 billion euros. Helsinki region has the representatives of national funds and 10 regional VCs, but because of interesting potential of new start-ups VCs do also direct investments from abroad.
Starting in 1995, the public sector, backed by the European Social Fund, invited proposals to establish additional incubator sites in the region and agreed to support the funding of incubator projects in the early years. At present, there are seventeen incubators operating in the region. The incubators are specialised in different fields of business and most of them work closely with University or technical college units.
The competitiveness of Finland and the performance of its innovation system were evaluated in several surveys published during 2001. The World Economic Forum rated Finland the best both in its growth competitiveness ranking and in its current competitiveness ranking. In previous studies Finland is ranked as the top country in the world for technological co-operation between companies, in research co-operation between companies and universities, and in the development and application of technology. Finland is also among the top countries worldwide in areas such as the level and availability of technologically competent human resources, scientific and technological expertise, and the ability to respond to basic business needs.
The Helsinki region accounts for nearly one third of Finland's national product. Thanks to effective and efficient communications, both in terms of transport networks and telecommunications, two thirds of foreign companies operating in Finland are based in the Helsinki region. |
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Contact details
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Technopolis Ventures Ltd.
Contact person :
Keith Silverang, CEO
Pertti Vuorela, Project Director
Address :
Tekniikantie 21
FIN-02150 ESPOO
Finland
Tel. : +358-9-2517 15*
+358-9-2517 3107 (direct phone to Pertti Vuorela)
Fax : +359-9-455 3117
E-mail :
keith.silverang@technopolis.fi
pertti.vuorela@technopolis.fi |
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