We’re here to brag about Helsinki, the hometown of Slush.
Did you know that…
…Helsinki has a centuries-long history of investing in education, research, and technology, which has helped create real-world solutions for some of the world’s most pressing challenges
…Helsinki is becoming a go-to destination for companies focused on research and development (R&D)?
…Finland is consistently ranked among the top countries in the world for innovation and sustainability, while Helsinki is ranked the second most innovative region in Europe?
Slush & the R&D scene thrive in Helsinki for a reason. We’ve gathered some of the most interesting history snippets and current success stories and initiatives highlighting why founders and researchers flock to Helsinki to innovate and commercialize. Perhaps we’ll convince you to test-drive the city, too.
The roots of Helsinki’s R&D success stretch back centuries
As the intellectual heart of Finland, Helsinki has been a center of knowledge and scientific discovery for nearly 400 years.
1600s: Finland’s universities have played an essential role in European scientific research already from the 1600s, with the founding of the University of Helsinki in 1640. Universities like these have helped lay the groundwork for innovations in industries like biotech and IT.
Mid-1900s: Finland understood that education is fundamental if the economy is going to produce technology that would have wide-reaching consequences. We implemented free education from preschool to university during the 1900s, which helped encourage the population to become highly educated. A well-educated nation was seen as essential to Finland’s strategic development, both from an economic standpoint and in the philosophy of equality.
Late 1900s: Finland started transitioning into a knowledge-based economy and began investing in technology R&D which produced some pretty well-known corporations that impacted the world as we know it. Nokia is a key example of a company that truly revolutionized the global mobile phone market. The company’s strong R&D efforts, heavily supported by government funding, helped Finland establish itself as a major player in the global tech industry.
Today: Here’s a fact that might surprise you: there are almost 400,000 new patent applications per million inhabitants each year in Finland. That makes Finland one of the biggest innovators in Europe today. This is due to the fact that the government has been historically committed to supporting research-intensive industries, as can be seen from the centuries before. An example of how the government supports this is by giving all companies operating in Finland an additional tax deduction of 150% on the cost of research and innovation projects carried out in collaboration with universities and research institutes.
“From a researcher’s point of view, Finland has an amazing ecosystem for researchers to make an impact in the world.” – Shilpa Karkeraa, Participant of the Founders to Finland program by Helsinki Partners
4 R&D Stories From Helsinki
Helsinki’s collaborative culture, government support, and strong focus on education and innovation have drawn founders and researchers to Helsinki in increasing numbers, and both local and international companies have made significant strides in R&D here.
Piloting smart city solutions in the real world
Helsinki is investing heavily in smart city technologies, renewable energy, and life sciences to improve urban life, all areas with tremendous growth potential. This is why Helsinki’s collaborative platforms are open for companies to come and pilot their solutions in real-life environments.
Follow the Helsinkian footsteps of Europe’s largest AI-exit
Silo AI, a Helsinki-based company specializing in artificial intelligence, was recently acquired by AMD for over €600 million, making it the largest AI-related deal in Europe in the past decade. The availability of talent and Helsinki’s AI excellence was a key factor in the deal.
Silo AI’s expertise will help AMD accelerate its AI strategy, demonstrating how Helsinki-based companies can compete—and lead—on the world stage.
“We have noticed that the talent pool in the Finnish startup scene is highly experienced. We are starting to have more and more entrepreneurs who have already built one successful venture, and are now onto the next one.” – Antti Törmänen, Partner, Antler
Reaching for the stars from Helsinki—literally
SpaceTech is blooming and stars are aligning in Helsinki. Here’s a quick rundown of the latest news from this space:
Reorbit relocated to Helsinki, now establishing a satellite factory close to the Helsinki city center, with production starting January 2025.
Meanwhile, Helsinki’s own Kuva Space has successfully launched its microsatellite Hyperfield-1 in partnership with SpaceX. This satellite, the first in a series, is set to provide real-time data to help monitor climate change, food security, and other critical global issues.
Finland recently got its NATO membership, which helps lay the ground for growth opportunities for companies working in the space, data, and dual-use sectors.
VR is changing perceptions in the north
Varjo, a global leader in virtual and mixed reality, has also expanded its presence in the Helsinki region. They’re opening a secure manufacturing facility to meet the growing demand for its high-resolution XR solutions used in simulation and defense training.
“Specifically about Helsinki and Finland, what we noticed here was that the engineering talent is tremendous.” Rajul Garg, Founder & Managing Partner, Leo Capital
Curious to see if your company can thrive in Helsinki’s ecosystem? Test-drive Helsinki for 7 days
Looking ahead, Helsinki is poised to become an even more significant hub for R&D. Interested in experiencing the advantages of our city firsthand?
Our friends at Helsinki Partners offer a program specifically for this purpose. It’s a unique opportunity to get to know the city, explore the thriving R&D ecosystem, and connect with local innovators.
Learn more about the Founders to Finland program and sign up for the waitlist here.