Tech transfer region: Finland
In Finland perhaps more than in other countries, the role of universities within the venture ecosystem seems fundamental. Finland is home to a well-educated population. With 10 multidisciplinary and six specialised universities, the country was ranked sixth out of 46 by the Organisation for Economic Co-operation and Development for the level of tertiary education attainment among 46 to 55-year-olds (38.5%), and 10th for 25 to 64-year-olds (44.3%) in 2017.
Significant in research funding is the Finnish Innovation Fund, known as Sitra, an evergreen fund whose operations are funded by returns from an endowment currently valued at €771m ($880m) and originally granted by the Finnish parliament. The fund functions both as a think-thank and as an investment company, producing research, events and training centred on three core topics – capacity for renewal, carbon-neutral circular economy, and sustainable economy. Sitra is not directly state-funded and is not answerable to the government.
