The world class investments in innovation

Finland is the world’s most research-intensive country. National spending on R&D currently runs at close to €6.5 billion a year, or 3.5 per cent of GDP. Around 70 per cent of this comes from the corporate sector and the remaining 30 per cent from government.

Finland has also the highest percentage of people employed in research of any OECD country.  According to WEF’s Global Competitiveness Report 2008, Finland has the best availability of scientists and engineers in the world and they are trained by the best educational system in the world.

Technology Research Centre of Finland, VTT is the largest multidisciplinary research organisation in Northern Europe. Sustainable use of natural resources and a clean environment are emphasized in VTT's research. VTT has several joint research projects with industry related to energy and the environment.

Impressive track record

Besides the investments made in Finland for innovation and R&D the country's track record in recent years shows that it has succeeded in many areas, whether in terms of national competitiveness, innovation and education, environmental sustainability or low level of corruption.

National competitiveness

  • In the top three EU countries in national competitiveness (Lisbon Review: 1st in 2004, 2nd in 2006, 3rd in 2008 )
  • Sixth-most competitive country globally in 2008 (WEF, The Global Competitiveness Report, 2008-2009)
  • In the top three in Business Competitiveness Index (WEF, Business Competitiveness Index in the Global Competitiveness Report 2007-2008)

Innovation and education

  • First among the OECD countries for excellence among young people in the sciences, and second in mathematics and reading (OECD, Programme for International Student Assessment,  PISA 2006)
  • In the top three EU countries in the dimensions of Innovation Drivers, Knowledge Creation and Applications and it is among the top three European countries in the indicators of Tertiary education, Public and business R&D expenditures, Early-stage venture capital, and patenting (European Innovation Scoreboard 2007)

Environmental Sustainability

  • Top of the 2005 Environmental Sustainability Index in terms of air and water quality, scientific and technological excellence, and environmental governance ( Environmental Sustainability Index 2005)
  • The top five ranked countries in the 2008 Environmental Performance Index (EPI), in order of best performance, are Switzerland, Sweden, Norway, Finland, and Costa Rica. (Environmental Performance Index 2008)

Corruption

  • One of the least corrupted countries in the world (Corruption Perception Index: 1st place in 2006 and 2007)

Sources: Hightech Finland 2009 and Tekes

Facts of the sector

  • "Finland has created wealth not through easy money, not with casino money, but with work, discipline and ideas," said José Manuel Barroso, the President of the European Commission.