Why Finland Is The Promised Land of Startups

Do you have an outstanding idea in your mind? Would you like to become an entrepreneur in the world’s happiest country?

The Nordic countries are the fastest growing startup areas in Europe. Finland is very innovative country. We have many successful gaming and software companies such as Supercell, Rovio and KONE. The biggest business fields in Finland are ICT, software, gaming, Health Tech, Environmental, and Energy industries.

In 2019, there were 292,377 businesses operating in Finland. Companies in Finland employ over 1.5 million people. Also, 93% of companies are micro-enterprises, employing less than 10 people. 

Graduating with a business degree provides you with great opportunities and the right skill set to become an entrepreneur in Finland. The Business degree programs are high quality and many universities have an entrepreneurial approach to studies.

We have listed 5 interesting reasons why you should become an entrepreneur in Finland.

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1. Facts

There are approximately 4 000 startup companies that begin operating in Finland each year. Finland’s capital city Helsinki has been ranked the first in local connectedness among investors, founders and experts. For example, over 500 tech startups are operating in Helsinki. Naturally, as the capital of Finland, there are many possibilities to connect and seek growth as an entrepreneur.

2. Government support

In 2019 Business Finland provided innovation funding 168 million euros for Finnish startup companies. In Finland, entrepreneurs can apply for a startup grant, which supports them in the beginning. The purpose of startup grants is to help and encourage new businesses and promote employment.

The grant provides a secure income during the period of getting the business up and running. It can be given for the company for one year. Startup grant consists of a basic grant, which amounts to EUR 33.78 a day.

3. Investments

Finnish startup companies raised the highest amount of funding in 2018. The overall financing amount was 479 million euros. In addition, foreign investors are keen to finance Finnish companies. Foreign investments have reached the total amount of 208 Million €. The number keeps increasing every year.

4. Finnish Startup permit

The permit gives international entrepreneurs the possibility to build a startup company in Finland. It is meant for innovative startup founders outside the EU.

To send the application for a Startup permit to Finnish Immigration Service, you need to get a favorable evaluation from Business Finland. First, they will evaluate whether your business idea, model, team and resources are potential for international growth.

Apple computer keyboard with the text: create.

5. Free online Starting Up Course & Service

Business Finland offers a free online course to learn crucial elements and skills to start a business in Finland. After completing this course your chances increase for your business idea to get accepted and financed.

What is more, My Enterprise Finland service provides information and tools online for both new and established companies. Entrepreneurs can use their services for instance to draw business plan using their tools. It can also help to get the startup grant. 

If you want to find out more information, check our blog post about Finland: The Best Country To study and Become an Entrepreneur.

Explore the different business programs that our partner universities offer here!

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