How to Improve Global Competitiveness in Finnish Business and Industry?
4FRONT together with Technopolis Group has carried out a forward-looking impact study on how the Finnish Funding Agency for Innovation (Tekes) individually and in collaboration with other Team Finland agencies can successfully enhance Finnish competitiveness.
Based on thorough analyses of current national activities and benchmark studies on European countries, the study argues that further improved collaboration between Tekes and Team Finland agencies would promote global competitiveness of Finnish actors. The evidence collated during the study underlines that for a new or emerging business innovation ecosystem requires a multi-faceted and multi-actor approach to achieve global competitiveness. For Tekes this means that its main impact is not on short-term growth of individual companies but rather through the triggering and/or nurturing of the emergence of new technology-based ecosystems that help restructure traditional sectors or develop new high-value added activities.
The case studies suggest that maintaining the specific function of Tekes as a long-term pioneering investor is critical for the emergence of new business models and business ecosystems. In support of this Tekes should focus on systemic impact rather than individual innovation events.