Innovation thrives in Finland and strong innovation skills generate business results. New businesses are continuously emerging in the gaming, electronics, software, cleantech and health industries. Finnish innovation environment is one of the best in the world according to international benchmarks.
Finnish society is highly supportive of entrepreneurship, with a flourishing Silicon Valley-inspired business culture. Wired listed Finland as one of the best countries in the world for start-ups and the annual Slush start-up event in Helsinki is among the largest in the world.
A strong commitment to innovation and R&D by both the private and public sectors has played a crucial role in Finland’s development into one of the leading knowledge-based economies in the world. The R&D expenditure has consistently been above 3 % of GDP since the turn of the millennium. Currently Finland’s R&D expenditure, as a percentage of GDP, is the highest in Europe