The success of the Finnish company Rovio, developer of the hugely popular game Angry Birds, has attracted international attention to Finland’s flourishing mobile sector outside Nokia, as well as the country’s culture of entrepreneurship, according to the Wall Street Journal’s Tech Europe blog. Blogger Nick Clayton recounts that Rovio attracted about USD 42 million investment in March this year, putting Finland on the map for foreign investors.
Looking for answers to why Finland has so many entrepreneurs, Clayton reports that Nokia’s recent difficulties have released many highly skilled engineers who have started their own businesses or offered their expertise to other companies. Rovio has also inspired newly-graduated young Finns to follow the entrepreneurial path, which is now seen as a viable option rather than joining Nokia or other large companies.
The blog quotes Artturi Tarjanne, chairman of the Finnish Venture Capital Association and co-founder of mobile technology-focused VC firm Nexit Ventures, regarding the impact of the changes at Nokia. “The availability of skilled people is key to the success. The steady growth and domination of Nokia, and the surrounding ecosystem, during the last 20 years has created a large pool of world class mobile technology skills in Finland. Now, when the smartphone market is skyrocketing [and] Nokia is suddenly stumbling and forced to cut down substantially the multibillion R&D efforts…[it releases] some of the best resources to the start-up market.”
Sources: Wall Street Journal Tech Europe, Good News Finland