Finpro’s Invest in Finland Unit, Tekes (The Finnish Funding Agency for Innovation) and TechTour arranged together an investment event at Finlandia Hall, Helsinki, Finland. This event aims to be an annual arena for investors and companies to meet. The event took place 15-16th of March and brought together more than 160 international investors and healthtechcompanies.
An international panel chose 40 out of 130 companies with the best potential to present their offering to international venture capitalist, investors and business angels. Most of the chosen companies operate in the area of digital health and health technology.
Finland markets itself as the land of future of health and the reasons for this are many. Finland is a digital health pioneer, the country has an efficient healthcare system that is open and free to all, excellent research and development, as well as unique and innovative start-up environment, says Nora Kaarela, the head of health sector, Finpro.
- Pharmaceutical and medtech companies in particular are interested in Finland because more than 98 per cent of patient registries in Finland are in digital format. In addition, health data is a very deep and offers many opportunities for research and development. The Finnish infrastucture and capailibilities are globally unique, and brings a special competitive advantage for Finland in terms of medical R&D, says Kaarela.
The opportunity to develop their own products effectively in the Finnish innovation environment is the reason why players such as GE Healthcare and Bayer are in Finland. Finland is also one of the seven identified countries in the world that exports health technology more than imports. Health technology export is Finland’s fastest growing high-tech export at the moment.
- Finland is a formidable player in health technology innovation. Health Tech Investment Europe 2017showed that potential for growth is still huge. Innovations and solutions developed in Finland are respected internationally. This is a good start, Kaarela summarizes.