Guide to Doing Business with Finland & Indian …...Guide to July 2020 Embassy of India, Helsinki 1 DISCLAIMER No part of this publication may be reproduced, copied or transmitted

Finland &Indian Companies in

Doing Business with

Finland

Guide to

July 2020

Embassy of India, Helsinki

1

DISCLAIMER

No part of this publication may be reproduced, copied or transmitted in whole or in part, in any form or by any means, without the prior permission of the copyright holder.

The Embassy of India in Finland has prepared this directory of companies with significant Indian interests represented in Finland on the basis of information available with the Embassy. However, the Embassy of India cannot guarantee that the list of such companies is comprehensive.

All information included in this publication has been acquired from the organizations directly or from reliable sources. However, the Embassy of India holds no responsibility for its accuracy, adequacy or correctness thereof. This publication, and the information contained herein, is meant for informational purposes only. Any discrepancy found in the information may be brought to the notice of the Embassy of India in Finland.

The Embassy of India will not be liable for any loss or damage (financial, commercial or otherwise) caused due to or as a result of the inaccuracy, incompleteness or incorrectness of the content in this publication, or the interpretation of or the reliance on any information contained herein by any party. Furthermore, the Embassy does not hold any responsibility for the reliability or actions of the listed organizations / entities in this guide

Copyright @ July 2020 Embassy of India to Finland and Estonia, Helsinki, Finland. All rights reserved.


2

MESSAGE FROM AMBASSADOR VANI RAO 4FINLAND - COUNTRY FACTS 5INDIA - COUNTRY FACTS 6INDIA-FINLAND TRADE AND INVESTMENT 7EMBASSY OF INDIA, HELSINKI 10SETTING UP A BUSINESS IN FINLAND – GUIDELINES (SOURCE: BUSINESS FINLAND) 11PUBLIC TENDERS IN FINLAND 14TRADE ORGANIZATIONS & INCENTIVES FOR FACILITATING BUSINESS WITH FINLAND 15

Business Finland 16Finland Chamber Of Commerce 18Finland-India Business Association 19FINCHAM India 20Finnpartnership 21Talent Boost 22Finnish Innovation Fund Sitra 24VTT Technical Research Centre of Finland 25

REGIONAL TRADE ORGANIZATIONS 27Espoo Marketing 28Helsinki Business Hub 29Businesskuopio 30Business Oulu 32Business Tampere 33Turku Business Region 36

INNOVATION ECOSYSTEM IN FINLAND 37Aalto Startup Center 38European Space Agency - Business Incubator Centre Finland 39India Finland Tech Hub 40Maria 01 42NewCo Helsinki 43

INDIAN COMPANIES IN FINLAND 45Addcomposites Oy 46ASA Global Bizcon Oy 47Codemenders Oy 48Duranc Oy 49Gateway Digital Oy 50HCL Technologies Finland Oy 51Infosys Ltd 52ITC Infotech Ltd 53Labsystems Diagnostics Oy 55Larsen & Toubro Infotech (LTI) Ltd 56Love Corporation Oy 57


3

L&T Technology Services Limited 58NCrypted Technologies Oy 60Shri Services Oy 61SRKay Consulting Oy 62Tarento Oy 64Tata Consultancy Services (TCS) Ltd 65Tech Mahindra Limited 66Te?ted Oy 68Third Space Auto Oy 69Wipro Technologies Oy 70CONSULTING COMPANIES 71Deloitte Oy 72Ernst & Young 73KPMG 74PriceWaterhouseCoopers Oy 75

IMPORTANT BUSINESS EVENTS IN FINLAND 76Arctic15 77Dare to Learn 78InnoFrugal 79SHIFT 80Slush 81

TRAVELLING BETWEEN FINLAND AND INDIA 82Travelling from India to Finland 83 Schengen Visa to Finland 83 Residence Permit for Employment in Finland 83 Travelling from Finland to India 84Business Visa for India 84 Employment visa for India 85 Airlines 86 Visa Facilitating Organizations 87


4

MESSAGE FROM AMBASSADOR, H.E Ms. VANI RAO

The Embassy of India welcomes you to the first edition of our online publication ‘Guide to Doing Business with Finland & Indian Companies in Finland’. The document is primarily intended for Indian companies as a brief introduction to Finland as a business destination. Companies, investors, entrepreneurs and startups from India will find in this publication, a database of important stakeholders in Finland especially business chambers, trade facilitation organizations, organisations in the innovation ecosystem, and important annual events in Finland. In addition to the Helsinki capital region, the publication provides information about organisations in other regions in Finland such as Turku, Tampere, Oulu and Kuopio. The Guide includes information about how these organisations can facilitate the entry of foreign companies to Finland, and some initiatives of interest to Indian companies considering Finland.

The virtual business guide includes a list of Indian companies based in Finland, their strengths, current operations and contact details. The list would be a very useful resource for companies in Finland and other Nordic and Baltic countries which are seeking Indian corporate partners, service providers or exporters.

The publication provides data about current trade and investment between India and Finland which is growing and diversifying. Business facilitation activities of the Embassy, and practical information regarding business visas for Finland is also included. Embassy welcomes the opportunity of connecting to and meeting with Indian companies, entrepreneurs and startups which are considering doing business with Finland.

We hope that the first ‘Guide to Doing Business with Finland & Indian Companies in Finland’ would provide a ready reckoner for Indian companies interested in exploring business, trade and investment opportunities in Finland.


5

FINLAND - COUNTRY FACTS

• Surface area: 338,450 sq.kms (data.worldbank.org 2018)• Population: 5.518 million (Eurostat, 2019)• Government type: Parliamentary system, Unitary state, Parliamentary republic,

Federacy• GDP (current USD): $269.654 billion (World Economic Outlook Database, 2019)• GDP per capita (current USD): $48,869 (World Economic Outlook Database, 2019)• GDP per capita, PPP (current USD): $47,975 (World Economic Outlook Database, 2019)• GDP growth (annual %): 1% (World Economic Outlook Database, 2020)• Trade (% of GDP): 77.85 % (www.tradingeconomics.com, 2018)• Exports of Goods and Services (% of GDP): 27.7% (www.worldexports.com, 2019)• Current account balance (% of GDP): -1.1% (Eurostat, 2019)• Fiscal year: Calendar year• Currency unit: Euro• Consumer price index (2010=100): 103.14 in April 2020 (www.statista.com)• Inflation, consumer prices (annual %): 0.9% (World Economic Outlook Database,

2020 est.)• Mobile cellular subscriptions (per 100 people): 129.46 (data.worldbank.org, 2018)• Tertiary school enrollment (% gross): 88.2 (in 2017)• Population growth rate: 0.2% in 2018 (data.worldbank.org, 2018)• Literacy rate: 99% (from 2008-2014)• R&D Expenditure as percentage of GDP: $7.2 billion (data.worldbank.org, 2017)• Ranking in Ease of Doing Business (World Bank): 20 in 2019 (www.tradingeconomics.

com) • Ranking in Global Innovation Index: 7th in 2018 (www.espooinnovationgarden.fi) • Ranking in Global competitiveness index: 11th (www.yle.fi) • Member of EU since: 1995• Adopted Euro currency in: 2002 • Joined Schengen regime in: 1996


6

INDIA - COUNTRY FACTS

• Surface area: 3.287 million sq. km• Population: 1.353 billion (2018)• Government type: Federal Parliamentary Constitutional Republic• GDP (current USD): $3.202 trillion (World Economic Outlook Database, 2019)• GDP per capita (current USD): $2,338 (World Economic Outlook Database, 2019)• GDP per capita, PPP (current USD): $9,027 (World Economic Outlook Database, 2019)• GDP growth (annual %): 1.9% in 2020 (World Economic Outlook Database, 2020)• Trade (% of GDP): 43.3% (www.data.worldbank.org, 2018)• Exports of Goods and Services (% of GDP): 19.74% in 2018• Current account balance (% of GDP): 2.4129 % in 2018 (www.tradingeconomics.com)• Fiscal year: 1 April to 31 March• Currency unit: Indian Rupee • Consumer price index (2010=100): 180.436 in 2019 (data.worldbank.org)• Inflation, consumer prices (annual %): 7.66 in 2019 (data.worldbank.org)• Mobile cellular subscriptions (per 100 people): 86.94 in 2018 (www.tradingeconomics.

com)• Tertiary school enrollment (% gross): 28.06% in 2018 (www.tradingeconomics.com)• Population growth rate: 1.2% in 2019 (www.thehindubusinessline.com)• Literacy rate: 81.3% in 2020 (www.censusindia.gov.in)• R&D Expenditure as percentage of GDP: 0.59738 % in 2018 (www.tradingeconomics.

com)• Ranking in Ease of Doing Business (World Bank): 63 (livemint, 2020)• Ranking in Global Innovation Index: 52nd in 2019 (www.livemint.com)• Ranking in Global competitiveness index: 58th in 2019 (www.economictimes.

indiatimes.com)


7

INDIA-FINLAND TRADE AND INVESTMENT

Finland is located in North-Europe between Sweden and Russia, with a land area of 338,424 km² and population of 5.5 million. It has been a highly integrated member of the EU since 1995, in Schengen since 2001 and adopted Euro in 2002. GDP per capita is US$ 50,152.3 (World Bank, 2018). It is a peace loving country and is militarily non-aligned. While it is not a member of NATO, it participates in NATO exercises and training operations.

In 2018, 2019 and 2020 Finland was ranked the happiest nation in the world according to the UN’s World Happiness Report. It is among top ranking countries in global social and economic indicators. It is a mature and stable democracy, a very safe country, family friendly, promotes gender equality, is egalitarian society and has an excellent social security system. It is promoting sustainable development, circular economy and gives priority to addressing climate change.

Finland is a reliable trading partner with a predictable regulatory environment. Its economy is knowledge-based and driven by technology and innovation. 77% of the area is covered by forests which account for over 20 % of exports. Its well-established paper and wood industry are high-tech and bio-fuels are generated from forestry byproducts. Turku city builds the world’s largest luxury ships and cruise liners. As in other European countries, Finland faces the challenges of ageing population, declining fertility rate, shortage of labour force, high cost of manufacturing and nationalist political parties gaining popularity.

Finland and India have traditionally enjoyed warm and friendly relations and have built a diverse bilateral agenda and a deep partnership. President Shri Pranab Mukherjee visited Finland in October 2014. Then Prime Minister of Finland, Mr Juha Sipilä visited India in February 2016 for Make in India week. PMs of India and Finland met at the first India-Nordic Summit in April 2018 in Stockholm. External Affairs Minister Dr S. Jaishankar visited Finland in September 2019 to mark 70 Years of diplomatic relations and 150th birth anniversary of Mahatma Gandhi. Minister for Foreign Trade and Development, Ms. Anne-Mari Virolainen, and the Minister of Employment Mr. Timo Harakka lead business delegations to India in 2018 and 2019 respectively.

Bilateral trade in goods in 2019 amounted to US$ 957 million, with US$ 390 million as India’s exports to Finland and US$ 567 million as imports from Finland. Top five India’s exports to Finland in 2019 were articles of apparel and clothing accessories; medicinal, pharmaceutical products; textile yarn, fabrics, made up articles; machinery for special industries; and electric machinery and parts, respectively. Although the population is small, due to high per-capita income, there is considerable scope for enhancing India’s exports such as pharmaceuticals, chemicals, textiles, organic and sustainable tropical fruit and spices (mainly pepper, cardamom, ginger, and cinnamon), etc.

In 2018, nearly 100 Finnish companies had operations in India. Large companies like Nokia Networks, Kone, Wärtsilä, UPM, Ahlstrom, Cargotec, Konecranes, Fortum, Metso, Huhtamäki and Ensto are manufacturing in India. There is ample scope for enhancing manufacturing operations of Finnish companies in India, for our domestic market and for South Asia or Europe, given availability of skilled and cost-effective manpower.


8

In 2018, trade in services was US$1.3 billion, with US$ 589 million as India’s exports to Finland and US$ 730 million worth of imports from Finland. 30 Indian companies, mainly in software and IT consultancy are active in Finland including major IT companies. Indian IT companies are providing services to major Finnish MNCs, large companies and some state-owned enterprises. Some made investments or acquisitions of Finnish companies with niche technologies. Finland is strong in the ICT sector, with industry, academic and R & D capabilities in telecom equipment, gaming, edutech, IoT and related areas. It is investing in strengthening its industry’s AI capabilities, developing 6G, clean technologies, energy efficiency, smart-grids, and mobility services. Since many Finnish IT companies do not have a global footprint or manpower to go global, there is considerable scope to build partnerships of Indian and Finnish companies based on mutual strengths and synergies. India is a focus country under Finland’s Talent Boost programme which seeks to attract specialists, especially from the IT sector for employment in Finland. In 2019, under Talent Boost of 1,865 specialist work permits issued, 1,060 were from India.

While Slush, held every year in Helsinki has emerged as the world’s biggest startup event, smaller events such as Arctic15 and SHIFT also attract startups and investors. Indian startups participated in Slush in the last three years. India-Finland Tech Hub was inaugurated in December 2018 as an online market entry guide for startups from both countries. Nasscom India has identified Nordics as their focus market, and visited Finland thrice in the last three years with business delegations.

FDI from Finland in India from April 2000 to December 2019 was US$ 497 million (DPIIT, India). Investments by Indian companies in Finland crossed US$One billion and include acquisition of PKC Group (for US$ 620 Million) by India’s Motherson Sumi Systems (MSSL) and recent acquisition of Fluido Oy by Infosys. Mahindra Holidays and Resorts invested in ‘Holiday Club Resorts Oy’ making Finland their biggest holiday destination in Europe.

Bilateral industrial R & D cooperation is supported by India’s Department of Science and Technology and Department of Biotechnology; and counterpart Finnish organisations. DST India and Academy of Finland are enabling mobility of researchers. Finnish Meteorological Institute and Indian Meteorological Department are working on air quality and air pollution forecasting in India. Three Finnish commercial micro-satellites have been launched so far through ISRO.

Indian community in Finland is vibrant and well-placed, standing at 13,391 (2018). Most are skilled professionals in IT and high-tech companies. 13 registered Indian Associations are actively promoting Indian culture. An annual cultural festival “India Day” has been organized since 2016. The fourth edition on 18 August 2019 in Helsinki saw 15,000 people participating.

Finnish public tenders can be found through the official public tender portal for the European Union – Tenders Electronic Daily (TED) (https://ted.europa.eu/).


9

Important Bilateral Commercial Agreements:

• Agreement on Avoidance of Double Taxation (1983); amended January 2010. • Air Services Agreement between Civil Aviation authorities signed 1995, MoU signed

8 December, 2016• Agreement for Cooperation in Science & Technology in 2008 (DST, India).• Social Security Agreement signed June 2012 ratified June 2012, implemented from

August 2014. • MoU cooperation in Renewable Energy October 2014 (Ministry of New and Renewable

Energy India).• MoU cooperation in Biotechnology October 2014; renewed November 2018

(Department of Biotechnology India)• MOU between Department of Biotechnology, India and Business Finland, 30

November 2018• MOU for Cooperation in Peaceful Uses of Outer Space, 10 January 2019 (Department

of Space, India)• MOU between National Skill Development Corporation, India and EDUFI, Finland for

cooperation in Vocational Education Training, January 2019• MOU for R&D Cooperation August 2019 (Department of Science and Technology,

India)• MOU for cooperation in Tourism November 2019 (Ministry of Tourism, India)• Joint Declaration of Intent between Ministry of Electronics and Information

Technology, India and Ministry of Economic Affairs and Employment, Finland for Cooperation in Digitalization, November 2019

• MOU for Cooperation in Defence Procurement January 2020 (Ministry of Defence, India)


10

EMBASSY OF INDIA, HELSINKI

Embassy of India in Helsinki is actively promoting trade and investment, and regularly organises business seminars, round tables, B2B meetings, and programmes for Indian business delegations. The Embassy works closely with major business chambers in India, Invest India, Startup India and concerned line Ministries. In Finland, the Embassy has a proactive collaboration with local business facilitators such as Business Finland, Helsinki Business Hub, Finnpartnership, Aalto Startup Centre and other stakeholders.

Website: https://www.indembhelsinki.gov.in/Facebook: https://www.facebook.com/IndiaInFinland/ Facebook: https://www.facebook.com/IndiaInEstonia/LinkedIn: https://www.linkedin.com/in/embassy-of-india-helsinki/ Twitter: @IndEmbFinEst

Embassy’s Commercial Wing:Mr Jussi Jännes, Marketing ExecutiveMr Lauri Pullinen, Marketing [email protected] Tel. +358 9 228 99121, +358 9 228 99122

Address: Embassy of India Kulosaarentie 32 00570 Helsinki Finland


11

SETTING UP A BUSINESS IN FINLAND –GUIDELINES

(SOURCE: BUSINESS FINLAND)

International companies are warmly welcomed and enjoy high return on investment in Finland. They can access the same benefits as Finnish companies. Opening a legal entity takes only a couple of weeks.

4 quick steps to set up a business in Finland

1. Select a name for your company. To gain exclusive rights to the name, you should submit it to the Trade Register which is maintained by the Finnish Patent and Registration Office (PRH).

2. Open a bank account for your business. The company requires a bank account to pay share capital, process payment transactions and support accounting.

3. File a start of the business notification. Establishing and registering a business requires that a notification be filed with the Trade Register and various Tax Administration registers. This can be done easily using a single form (“Y form”).

4. Take advantage of online tools. You can establish a limited liability company online through the Business Information System online service. You can also create a workspace at My Enterprise Finland (https://oma.yrityssuomi.fi/). The My Enterprise Finland service gives you access to a wealth of useful services. These online services require you to log in with your online banking credentials.

Online tools

You can establish a limited liability company online through the BIS online service (https://www.ytj.fi/). You can also create a workspace at My Enterprise Finland. The My Enterprise Finland service gives you access to a wealth of useful services. These online services require you to log in with your online banking credentials. Another source of information is Suomi.fi (https://www.suomi.fi/company) where you can find information on how to start a business and business licenses.

Types of business

In Finland, foreign companies most commonly conduct business through private or public limited liability companies, or through a Finnish branch office. Business can also be conducted through general or limited partnerships or co-operatives. A foreign organization or foundation can also establish a branch in Finland.

Setting up a limited company

A limited company can be established by one or more natural or legal persons (founders). At least one of the founders shall be a permanently resident or, if the founder is a legal person, have their domicile in the European Economic Area – unless the National Board of Patents and Registration grants an exemption from this rule. The nationality of the founder is thus irrelevant. A legal person shall have their domicile in the European Economic Area when it has been established in accordance with the laws of a State which


12

belongs to the European Economic Area and when its registered office, central administration, or head office is in a State belonging to the European Economic Area. A person who is legally incompetent or declared bankrupt may not act as founder.

If a permit is required, the application is to be submitted to the National Board of Patents and Registrations either in Finnish or in Swedish. An application fee (EUR 120) is paid for each permit decision.

A public limited company shall have a minimum share capital of EUR 80,000. The share capital must be paid to the company’s account in full before the company can be entered in the Trade Register which is maintained by the National Board of Patents and Registration.

New businesses submit the basic declaration to the Trade Register using the start-up notification form. This form can also be used for registration with the Tax Administration, registration of a VAT liable business, registration as an employer, and registration in the tax prepayment register.

Setting up a branch of a foreign trader

A branch refers to a part of a foreign organization or foundation that conducts continuous business or professional activities in Finland from a permanent place of business in Finland in the name of and on behalf of a foreign organization or foundation.The trade name of a branch of a foreign entrepreneur established in Finland shall contain the trade name of the foreign entrepreneur with an addition to the name which indicates that it is a branch – e.g. CDE Cargo Ltd., branch of Finland.The application fee for a branch of a foreign trader is EUR 380. If the trader opening the branch is from a country outside the European Economic Area (EEA), they will also need a permit from the National Board of Patents and Registration for the establishment of a branch. This permit costs EUR 120.

Acquisition of a business

Foreigners may also acquire Finnish enterprises, their business operations, or become partners in an existing enterprise. The object of acquisition may be, for example, a private undertaking; shares in a general or limited partnership; the entire stock of a limited liability company; or a majority of the shares. You can become a member of an existing cooperative by paying the participation share.

All corporate acquisitions in the defense and dual-use goods sector are subject to approval by the public authorities – approval will be based on an application. In the civil sector, Finnish enterprises considered critical for securing vital functions within society and corporate acquisitions (http://tem.fi/en/acquisitions) will also be subject to approval.

Regulated trades

There are also commercial activities in Finland that are subject to a license. These include the serving of alcohol, debt collection and security guard business. There are also commercial activities that require registration in a register that is kept by the authorities. This registration obligation covers such activities as the package travel agencies, real estate agencies and housing rental agencies. An entrepreneur submitting this kind of


13

registration must meet the prerequisites laid out for registration in the law (https://www.suomi.fi/company/responsibilities-and-obligations/permits-and-obligations/services).

There are also commercial activities in which the authorities must be notified of the start of the activities. Under the law, restrictions and obligations may also be imposed on commercial activities for which a notification is required.

In most cases, an entrepreneur can start their operation before the authorities have considered the notification.

Looking for a reseller for your products?

If you are looking for a reseller or a business partner for your product or service, please contact industry associations (https://ek.fi/en/) and the chambers of commerce (https://kauppakamari.fi/en/finnish-chambers-of-commerce/finnish-chambers/) for further information.

The Enterprise Europe Network (https://www.businessfinland.fi/en/Recycle-Bin/build-your-network/european-programs/enterprise-europe-network/) was established in 2008 by the European Commission. It provides free-of-charge internationalization services to SMEs and operates in over 50 countries.

Source:https://www.businessfinland.fi/en/do-business-with-finland/startup-in-finland/setting-up-a-business(Text replicated with permission from Business Finland)


14

PUBLIC TENDERS IN FINLAND

Foreign companies can bid for tenders either through Finland’s own tender portal HILMA, or through the EU’s TED database.

HILMA

https://www.hankintailmoitukset.fi/en/ In Finland, Public Procurement tenders are the responsibility of the Ministry of Economic Affairs and Employment. Foreign businesses which have an established presence in the EU are allowed to take part in calls for bids on HILMA, Finland’s official portal for public tenders. However, calls for bids at HILMA are mostly published only in Finnish or Swedish. There are companies that monitor the calls for bids, for example:

p Credita (https://julkisethankinnat.fi) p HankintaSampo (https://www.hankintasampo.fi/sampo) p Mercell Finland (https://www.mercell.com)

EU TED database

https://ted.europa.eu

TED database is an official portal for the European Union and runs as an online version of the ‘Supplement to the Official Journal’ of the EU, dedicated to European public procurement. The database is in English but once a Finnish tender is selected, it will most likely go to a site where the tender is written only in Finnish.

Following EU laws and restrictions apply to tenders on both HILMA and EU TED database:

An Indian company, organisation or institution established in the EU (28 EU member states + Iceland, Norway and Liechtenstein.), have the right to compete for a public tender in any EU country, including Finland without discrimination.

The Indian company has to use supporting documents (certificates etc) issued by India. Indian companies have equal access to all information regarding tenders, regardless of EU country in which they are established Indian company has access to the review procedures (https://europa.eu/youreurope/business/selling-in-eu/public-contracts/request-review-public-tender/index_en.htm) in the respective country.

When an Indian company can be excluded from public tenders:

If the tenderer cannot be trusted; do not pay taxes or social security contributions; participate in corruption; have links to a criminal organisation; are bankrupt, or guilty of grave professional misconduct.


15

TRADE ORGANIZATIONS AND INCENTIVES FOR FACILITATING BUSINESS WITH FINLAND


16

Business Finland is the Finnish innovation funding, trade, investment, and travel promotion organization, headquartered in Helsinki. Business Finland is fully owned by the Finnish Government employing some 600 experts in 40 offices globally and in 20 regional offices around Finland. Business Finland is part of the Team Finland network. The foremost goal of the New Business Finland is to offer a smooth, joint service path for its customers in Finland and abroad if they need innovation funding, advice in growing internationally, investing in Finland or visiting Finland.

Business Finland’s mission is to catalyze new growth and create opportunities for Finland through innovation and international expansion. Its strategy is twofold: enabling global growth for companies and creating world-class business ecosystems and competitive business environments for Finland.

Business Finland can help expand Indian companies to European market by setting up businesses in Finland. Business Finland can help with:

• Relevant information for fact-based decision making• Opportunity analysis• Matchmaking• Evaluating most suitable market entry strategies• Location management – Help in site selection • Tools and plans for establishing or expanding a business in Finland

Business Finland can also help Indian companies create R&D centers in Finland or R&D centers in India with Finnish collaboration. Business Finland can help with:

• Connections with Universities• Connections with R&D institutes• Connections with other R&D ecosystem stakeholders• Understanding of Business Finland Innovation Funding

Incentives and schemes in Finland from which Indian companies can benefit:

• Business Finland’s innovation fundingBusiness Finland’s innovation funding provides low-interest loans and grants to challenging and innovative projects potentially leading to global success stories. The organisation offers funding for research and development work carried out by companies, research organisations, and public sector service providers in Finland. Besides funding technological breakthroughs, Business Finland also emphasises service-related, design, business and social innovations. Startups as well as SMEs and large companies can benefit from these incentives.https://www.businessfinland.fi/en


17

• Business AidBusiness aid to companies operating in Finland is coordinated by the Centers for Economic Development, Transport and the Environment (ELY Centers), whose 15 regional offices provide advisory, training and expert services and funding for investment and development projects. Foreign-owned companies in Finland can benefit from several different types of aid, especially for certain regions of Finland

Address: Business Finland, Porkkalankatu 1, HelsinkiTel: +358 29 50 55000https://www.businessfinland.fi/en

Contact: Mr. Puneet Thakur Head of Invest In and Innovation CollaborationBusiness Finland New Delhi [email protected]


18

Finland Chamber of Commerce is the national chamber of commerce in Finland. It is the leading Finnish business organization and the only one which covers all business sectors from industry to services. Finland Chamber of Commerce together with 19 Regional Chambers are active all round Finland and present over 21.000 Finnish companies from multinationals like Nokia and Kone to SMEs.

Finland Chamber of Commerce hosts 17 bilateral Business Associations including Finland-India Business Association in which major Finnish companies doing business with India are members. Furthermore, it is cooperating with nearly 40 bilateral Chambers aboard under the global Finncham Network in which Finnish Chamber of Commerce in India (FinCham India) is its partner.

Finland Chamber of Commerce is cooperating closely with Federation of Indian Chambers of Commerce and Industry FICCI based on MOU. It shares business information and arranges business events and business delegations between the countries.

Regional Chambers in Finland are the best business experts of their regions to guide international traders and investors on business and investment potential. Chambers are helping with private and public contacts both at the national and regional level.

Incentives and schemes for international traders and investors including Indian companies are offered in public-private cooperation under Team Finland. Finland Chamber of Commerce and regional Chambers are part of Team Finland Network and are ready to tell organizations more about these incentives and schemes. Chambers do not have any single incentive nor schemes program.

Address: Finland Chamber of Commerce, WTC Helsinki, Aleksanterinkatu 17, FI 00100 FinlandTel: +358 9 4242 6200https://www.chamber.fi | https://www.finncham.fi | https://www.kauppayhdistys.fi

Contact Name: Mr Timo VuoriExecutive Vice [email protected]

Contact Name: Ms Jenni IsolaSenior [email protected]


19

The purpose of Finland-India Business Association is to develop relations between Finland and India in the fields of trade, industry and other lines of business. The Business Association forms a forum for discussion.

To pursue its aims, the Association arranges meetings and lectures on topical trade issues between Finland and India, member events 3-5 times a year, sends bulletins on topical issues concerning India and develops and maintains contacts to governmental and business organizations in India.Membership fees for year 2020:Corporate membership € 200,-Private membership € 50,-

Chairman of the Association is Mr Jukka Nuortio, Nordea Bank.The secretariat of Finland-India Business Association is at the Finland Chamber of Commerce.The primary task of the Business Association is to act as a networking primus motor in Finland. The Association brings together companies and private persons engaged in business between Finland and India. There are some 50 members representing various business sectors.

Address:Finland-India Business AssociationKeskuskauppakamariPo Box 100000101 HELSINKITel. +358 9 4242 6239

https://kauppayhdistys.fi/suomi-intia/in-english/

Contact: Ms Jenni IsolaSenior Adviser International Affairs, Business Associations and Finncham-networkFinland Chamber of [email protected]


20

Finland Chamber of Commerce in India (FINCHAM India) was established in 2018 to boost trade of the Finnish companies and to support investment and other business operations of its members in various terms.

The services that FINCHAM India provides includes an organized platform where Finnish companies in India can discuss and identify common issues and concerns regarding their economic and trade interests, commerce, services, industry, public procurement and related issues. The Chamber also acts as an advocacy forum for promoting interests of members on the policy front. Furthermore, the Chamber seeks to help Finnish companies in India with their corporate affairs and social responsibility activities, government relations work, dispute resolution and problem solving.

Over the past year, in close cooperation with the Embassy, FINCHAM India has been able to organise opportunities for their members to explore opportunities for B2B collaborations, participate in business summits, and provide interface with relevant government officials. FINCHAM India is a part of the working group of European Bilateral Chambers - European Economic Group (EEG), wherein sectoral concerns are presented with the objective of supporting collective advocacy of the European business community’s concerns. From 1st April, 2020, FINCHAM India’s membership is being opened up to Indian as well as non-Finnish European companies which have a business interest in Finland.

Organisational Structure:

• CEOs of 6 member Finnish companies constitute the Board of Directors • Chairperson (elected from the Board)• Vice-Chairperson (elected from the Board)• 3 Honorary Board Members: (i) Ambassador of Finland in India; (ii) Counsellor

(Commercial & Economic), Embassy of Finland; and (iii) Country Head, Business Finland

• Administrator

FINCHAM India is accredited by FINNCHAM Helsinki and has direct contact with Business Finland and the Embassy of Finland in India. Queries by Indian companies can be redirected to the relevant organisation for necessary facilitation of information.

Address: Embassy of Finland, E-3, Nyaya Marg, Chanakyapuri, New Delhi - 110021Tel: +91 98108 64260https://finchamindia.com/

Contact: Ms. Swati [email protected]


21

Finnpartnership is a programme financed by the Ministry for Foreign Affairs of Finland and managed by the Finnish development financier Finnfund. Finnpartnership aims to generate positive development impacts by promoting business between Finland and developing countries. Finnpartnership offers funding (for Finnish companies and organisations), advisory services and a free Matchmaking service for finding business partners. Read more here: https://www.finnpartnership.fi.

MatchmakingFinnpartnership offers a free-of-charge Matchmaking Service for companies looking for business partners from Finland (https://finnpartnership.fi/en/matchmaking-registration/). After registering to the service, Indian companies get a public profile on the Finnpartnership website, and Finnpartnership also markets the business partnership initiatives on several other platforms, including its newsletter, workshops, sector-specific fairs etc. Direct one-to-one introductions can also be made if potential Finnish business partner leads are found. More information about the Matchmaking service, as well as application form and instructions on how to register, can be found from the Finnpartnership website:https://finnpartnership.fi/en/matchmaking-registration/

Exporting to FinlandIn addition, Finnpartnership offers extensive information about exporting to Finland. On the Finnpartnership website, there are several sector-specific reports on how to export certain products to Finland and about customer preferences in Finland. This information can be found from the Finnpartnership website: https://finnpartnership.fi/en/country-and-industry-information/importing-from-developing-countries/ Best way to get information about Finnpartnership’s latest events and other activities is by subscribing to the monthly newsletter:https://finnpartnership.us17.list-manage.com/subscribe?u=a069108722b1a4d5903cb9cb8&id=b520314fdc

Finnpartnership also organizes Doing Business with Finland seminars in its target countries, which aim at connecting Finnish and local companies. For the most recent updates about the upcoming seminar locations, please follow the Finnpartnership website and newsletter.

Address: Porkkalankatu 22 A, 00180 Helsinki, Finland Tel: +358 9 348 434https://finnpartnership.fi/en/frontpage/

Contact: Mr. Juho KorkiakoskiBusiness Partnership [email protected] | [email protected]


22

Talent BoostTalent Boost is a cross-administrative program of Prime Minister Sanna Marin’s Government designed to boost the immigration of senior specialists, employees, students and researchers to Finland. Talent Boost focuses on attracting the kind of talent who will be instrumental for the growth and internationalization of Finnish companies, and for RDI in the leading growth sectors. The program also supports international startup entrepreneurs to grow their business in Finland.

Finland is not very well known among international talents. Business Finland together with Ministry of Foreign Affairs is sharing information on opportunities to study and work in Finland under the brand of #Finlandworks. One of the important countries targeted under the program is India. Talent Boost provides opportunities for Indians aiming to study or work in Finland, for Indian startup entrepreneurs looking to set up a company in Finland, and for Indian companies in Finland to grow their business.

A significant number of Indian students and professionals already live in Finland. Therefore, the existing Indian community in Finland is important for the program. For example, to support integration of the spouses and help students to find a job after graduation.

Companies seeking international growth need the help of top experts in order to succeed. Talent Boost provides companies with networks to find international experts and a financial incentive to recruit them.

• Startup permitThe Finnish Startup Permit makes it possible for international growth entrepreneurs to build a startup company in Finland and to become part of Finland’s vibrant startup ecosystem. The permit is meant for innovative startup founders coming from countries outside the European Union. More information about kick starting a new business in Finland: https://www.businessfinland.fi/en/do-business-with-finland/startup-in-finland/startupkit/

• Talent Explorer FundingTalent Explorer funding in Finland supports hiring of an international expert. The Explorer funding can be used to hire an expert in order to obtain new information and expertise to help the company make progress in a new international market. Information about Talent Explorer funding: https://www.businessfinland.fi/en/for-finnish-customers/services/funding/explorer/talent-explorer/

Finland loves talent from every corner of the world. Bring passion and expertise to Finland and discover why this is a great place to pursue a career and to build a life rich in new experiences and opportunities.

• Why work in Finland?• Finland, the happiest country in the world (UN World Happiness Report 2018,

2019)• Most employee friendly working hours (European Company Survey)• Greenest country in the world (Yale University)• 3rd in Global Gender Gap Report 2017 (World Economic Forum)• Paid maternity and paternity leave• 1st in skill development at work (European Working Conditions Survey)


23

Jobs in Finland: The Jobs in Finland website is presenting open jobs in Finland with English job descriptions and without requirements of Finnish language. See open jobs in Finland: https://jobs.workinfinland.fi

Study in Finland: Finland’s world-leading higher education system offers more than 400 English-taught Bachelor’s and master’s degree programmes in 13 universities and 22 universities of applied sciences (UAS) Further information on Study in Finland website: https://www.studyinfinland.fi

Residence permits: The Finnish government program has set a target of one-month processing time for residence permits for specialists with a job offer and students with an acceptance letter. More information how to obtain a residence permit in Finland https://migri.fi/en/residence-permits-on-the-basis-of-employment

What is like to move to and live in Finnish major cities? further information available from Talent Hubs’ websites:

Work in Greater Helsinki: https://www.helsinkibusinesshub.fi/work-in-helsinki/International House Helsinki provides a wide range of information and public authority services to meet the needs of international newcomers in the Helsinki metropolitan area: https://ihhelsinki.fi Work in Southwest Finland: https://careerinsouthwestfinland.fiWork in Tampere: https://tampere.fi/en/internationalhub

Information on moving to and living in Finland and about Finnish society:

Info Finland: https://www.infofinland.fi/en/frontpageFinnish news in English: https://yle.fi/uutiset/osasto/news/

Address: Porkkalankatu 1, Helsinki 00180, FinlandTel: +358 29 50 55000https://www.businessfinland.fi/en/do-business-with-finland/work-in-finland/in-brief/

Contact: Mr Santeri OjalaProject Manager – Talent Boost [email protected]


24

Sitra is a future fund and a think-and-do tank with activities based on knowledge and insight. Sitra collaborates with partners from different sectors to research, trial and implement bold new ideas that shape the future. Sitra’s goal is a Finland that succeeds as a pioneer in sustainable well-being.

The key tools of future-oriented work include foresight, reports, practical experiments and pilots, development and dissemination of models, financing, building the administrative and legislative foundation for changes and training. Sitra promotes cooperation, networking and projects that transcend sectoral boundaries.

Sitra does not provide traditional business consulting or funding for companies. Their landmark event is The World Circular Economy Forum that brings together up to 2,000 business leaders, policymakers and experts from around the world to present the world’s best circular economy solutions. WCEF examines how businesses can seize new opportunities and gain a competitive advantage through circular economy solutions, and how the circular economy contributes to achieving the UN’s Sustainable Development Goals. The first WCEF was held in Helsinki, Finland in 2017. The next annual WCEF will be held in Toronto, Canada in 2021. More information: https://www.sitra.fi/en/projects/wcef/

Sitra launches and implements projects together with the private and public sector, all aimed at increasing sustainable well-being in Finland. The range of its projects is broad, and includes those that run for several years as well as short-term trials. The projects that receive funding are related to Sitra’s themes and the practical work it does. Sitra’s current themes are Capacity for renewal, Carbon-neutral circular economy and New working life and the sustainable economy. For small-scale trials they seek partners through, for example, calls for ideas. Sitra’s website (https://www.sitra.fi/en/) presents information on its latest future-oriented work.

Address: Itämerenkatu 11-13, PO Box 160, FI-00181 Helsinki, FinlandTel: +358 294 618 991https://www.sitra.fi/en/

Contact: Ms Veera HeinonenDirector, Communications and Public [email protected]


25

VTT Technical Research Centre of Finland

VTT is a visionary research, development and innovation partner, helping enterprises and society at large to put new science and technology into practice. VTT drives sustainable growth, tackles the biggest global challenges of our time and turns them into sustainable growth opportunities. VTT is at the sweet spot where innovation and business come together.

VTT is an RTO whose activities are focused on three areas: Knowledge intensive products and services, Smart industry and energy systems, and Solutions for natural resources and environment. VTT is impact-driven and takes advantage of its wide multi technological knowledge base to strengthen Finnish and European industrial competitiveness. VTT can combine different technologies, produce information, upgrade technology knowledge, and create business intelligence and value added for its stakeholders.

VTT is a state owned and controlled non-profit limited liability company established by law and operating under the ownership steering of the Finnish Ministry of Employment and the Economy.

VTT has a staff of 2083, net turnover in 2019 was 147,2M€ and other operating incomes were 97,7M€. Over the years, VTT has gained vast experience from participation and coordination of numerous European projects including R&D Framework Programme projects and other thematic frameworks and programmes. VTT is ranked among the leading European RTOs. In December 2017, VTT was recognised with the “HR Excellence in Research” award by the European Commission.

VTT creates new business for their customers through research. VTT strengthens its customers’ competitiveness through a cross-disciplinary, lab-to-manufacturing path of research. By collaborating with VTT, their customers can:

• Gain foresight into the development of technology and create roadmap for new business

• Get introduced to ecosystems and supply-chains relevant for their business• Do strategic research on visionary topics• Speed up new product, process and service development• Steer their technology and innovation efforts wisely• Gain access to new technologies (IPR and licensing)

There are various collaborative project-funding opportunities between India and EU and bilateral funding opportunities between India and Finland. Companies and Research organizations in India can benefit from such funding instruments to develop their ideas together with VTT.VTT has research internship and trainee programs every year on multiple research topics. Students from research organizations in India have previously participated in such programs. This can be an instrument for initiating collaboration on various research topics.


26

Address: Vuorimiehentie 3, Espoo 02150, FinlandTel: +358 20 722 111https://www.vttresearch.comContact (Business): Dr. Himadri Majumdar Head of Sales and Customer [email protected] (Other): Ms. Julie Clavijo Specialist, International [email protected]


27

REGIONAL TRADE ORGANIZATIONS


28

Espoo Marketing

Espoo Marketing helps foreign corporates and investors to do business, invest in and engage with the Finnish innovation ecosystem. They are located in the leading innovation hub of the Nordic countries, a few minutes from Helsinki city center.

Espoo Marketing specialize in working with international corporates. Their clients, amongst others, are Telefonica, Mercedes-Benz, Beiersdorf, 3M, Hitachi, Marubeni and Infosys.

Innovate and grow your business in EspooEspoo is the innovation driver of Finland. Startups, big companies, Aalto University and VTT Technical Research Centre of Finland are all here. Espoo Marketing helps companies to do business in Espoo’s innovation ecosystem and connect with the right players:

• Innovate and grow your business.• Connect with local partners and become part of the community.• Find the right working environment and get anything you need to establish a

business in Espoo.

Matchmaking. Invest in. Startup partnerships.Get direct access to the leading innovation hub in the Nordics. By working with Espoo Marketing, international companies and investors get the opportunity to find the right startups, scaleups, technologies, and innovation partners from Espoo’s innovation ecosystem.

• Find the right startups, scaleups, and technologies. • Get connections to the right experts at Aalto University and VTT.• Connect with some of the biggest companies in Finland and major innovation

players, such as Aalto Startup Center, European Institute of Innovation and Technology (EIT), Innovation House Finland, and United Nations Technology Innovation Lab (UNTIL).

Address: Otakaari 5, 02150 Espoo, FinlandTel: +358 40 620 4254https://www.espooinnovationgarden.fi https://www.launchpad.espooinnovationgarden.fi

Contact Name: Mr Glenn GassenDirector, Innovation, Growth & Invest [email protected]


29

Is a local guide to business in Greater Helsinki. Helsinki Business Hub (HBH) is the international trade and investment promotion agency for the Finnish capital region. HBH helps foreign companies to set-up their business, grow and develop in Greater Helsinki, which offers key business opportunities in (but not limited to) the following fields:

• ICT & Digitalization: AI, Hi-Tech Manufacturing, Fintech, Quantum Tech• Health: personalized health & med tech• Smart & clean solutions: smart energy & smart mobility

HBH drives on impact. The results of their work are seen in economic growth and new jobs in Greater Helsinki, which consists of the cities of Helsinki, Vantaa, Espoo, Kauniainen and the rest of the Uusimaa region.

HBH will help companies throughout their journey to Finland and the Greater Helsinki area – from the initial consideration to establishing and expanding the business. Companies turn to them when they are looking for locations for their business, cooperation with Finnish companies, deal flow from Finland or opportunities for expansion in Greater Helsinki. Helsinki Business Hub provides companies with the right information and contacts, and identifies growth opportunities for them. Their services are free of charge and they are always tailor-made for companies’ business needs. They offer a customized, first class experience for growth-seeking companies by providing:

• Information: practical advice and information for market entry and opportunity mapping

• Connections: matchmaking and introductions to local companies, academia & research

• Value: corporate-startup collaboration, access to dealflow, piloting opportunities, access to innovation platforms, soft-landing services, introductions to financing alternatives

Helsinki Business Hub helps companies to connect with the relevant public financing entities such as Business Finland, Finnvera, Finnish Industry Investment Ltd and Sitra. They can also help companies get introduced with a private financing network. In terms of public financing, this service is for foreign companies establishing their operations in Helsinki. Take a closer look at Business Finland website: https://www.businessfinland.fi/en/for-finnish-customers/services/funding/

Address: Helsinki Business Hub, Mechelininkatu 1 a, 00180 Helsinki, FinlandTel: +358 45 214 7494https://www.helsinkibusinesshub.fi/

Contact Name: Mr Sandeep ShahSenior Business [email protected]


30

Businesskuopio creates the conditions for business growth and development in the Kuopio region.

Businesskuopio invests heavily in facilitating business operations and provides an attractive environment for both new and existing businesses. Kuopio’s wide-ranging business services and developing environment creates a supportive platform to growth for experts and companies as well as opportunities for investors. Kuopio is growing and developing – Join in the growth!

Success stories are born when they have freedom to grow. In Kuopio companies and investors can build their own story in a unique atmosphere – with courage, creativity, and using their own strengths.

Do business where growth is a force of nature!

https://www.businesskuopio.fi/en/https://www.businesskuopio.fi/en/news/new-annual-publication-kuopio-by-nature-is-the-citys-business-card/https://www.businesskuopio.fi/en/news/success-stories/kihos-strength-arises-from-perseverance/https://www.businesskuopio.fi/en/blog/

Businesskuopio can help your organization in the following ways:

By arranging:• Events• Webinars• Information and contacts• Savilahti – Smart City in Kuopio• Collaboration with Universities and Universities of Applied Sciences• Invest in Kuopio – Invest and Grow in Kuopio Region -project 2018-2020

https://www.businesskuopio.fi/en/investinkuopio-en/By supporting areal ecosystems:

• Health• Platform Services• Smart Technologies• Bioeconomy• Food• Tourism

With investment and funding opportunities• North-Savo StartUp Fund starting 2020 – 10 million euros for 10 years


31

Business Environment: https://www.businesskuopio.fi/en/investinkuopio-en/business-environment/Soft Landing Services: https://www.businesskuopio.fi/en/business-services/soft-landing-services/Business Center North Savo: https://www.bcpohjois-savo.fi/en/eng_etusivu/

Incentives and schemes from which Indian companies can benefit in the Kuopio region:• Kuopio centric ecosystems: https://www.businesskuopio.fi/en/investinkuopio-en/

• Health• Platform Services• Smart Technologies• Bioeconomy• Food• Tourism

• Open Innovation ecosystem• Kuopio Health: https://kuopiohealth.fi/en/front-page/• Kuopio Water Cluster: https://kuopiowatercluster.com/• Energy Cluster North Savo: https://www.energyclusternorthsavo.fi/en

Addresses: Kuopio Business Development Services and Invest & Grow in Kuopio Region ValtuustotaloSuokatu 42 D, 3rd floorTel: +358 17 182 089https://www.businesskuopio.fi/en/contact/

Startup and Growup ServicesMicrokatu 1, H, 1st floor

Contact Name: Mr Mika RaatikainenBusiness Promotion [email protected]


32

Oulu offers the optimal ecosystem for cutting-edge ICT innovation and expertise. During its decades of global ICT leadership focused on technological breakthroughs and sustainable growth it has learned that its edge doesn’t cut, it creates. Welcome to the city on the edge. Business Oulu, a public utility of the City of Oulu, is responsible for implementing the city’s industry and employment policies by promoting activities for enterprise, employment and business in the region according to the principles agreed on by the City Board.

BusinessOulu organises various development services for companies and improves their operating environment. In addition to promoting the internationalisation of companies, BusinessOulu is in charge of the international business marketing of the city. BusinessOulu also works actively to bring new investments to the region.

Oulu, Finland, a city of just 200,000 people, has pioneered cutting edge innovations across a broad range of technologies for decades. It has developed world-changing technologies in everything from texting, self-powered locking systems, and fitness tracking technologies – to paying for things with one’s phone and the world’s smallest processor. Oulu led the global development of 5G technology and is already spearheading the future of 6G. Also health technologies is one of the key assets of Oulu. OuluHealth (https://www.ouluhealth.fi) is one of the five innovation ecosystems of Oulu Innovation Alliance (http://www.ouluinnovationalliance.fi/) . The OuluHealth ecosystem comprises several stakeholders from academia, the public sector, and the private sector. The principal idea is to facilitate open collaboration and to accelerate innovation by bringing together various partners able to contribute to the needs of the health care sector.

Whether you’re a dedicated engineer looking for a world-class tech environment with plenty of challenging opportunities, a company looking for the perfect location for your new R&D facility, or a firm that wants to export seamlessly throughout the world – welcome to the city on the edge.

If an international company is considering investing in a new R&D facility in Oulu, or for a brilliant start-up just beginning to impact the world, they can count on expert support and key resources during their onboarding. There are highly successful programs that actively match companies with the right suppliers, subcontractors and collaborators. And thanks to Oulu’s hard-won expertise in supporting new business growth, it’s well understood that helping a company decide to locate in Oulu is only the start of a longer-term integration process. In fact, a solid majority of ICT companies locating to Oulu continue to invest and grow their presence in Oulu.

Address: BusinessOulu, Hallituskatu 36 A, 90100 Oulu, FinlandTel: +358 (0)8 558 55810https://www.businessoulu.comContact Name: Petri KarinenHead of International [email protected]


33

The Tampere Region, located in the center of the country, is one of the fastest growing city regions in Finland. Around 80 percent of Finland’s industrial and economic activity is concentrated within a two-hour drive from the region. Business Tampere works for the good of the Tampere Region across municipal boundaries.

Business Tampere, the Tampere Region economic development agency, promotes investments and creates the best environment for business in the region. It operates within the Tampere city region economic development strategy and offers its expertise on business service development, business environment, investment in and internationalization opportunities.

Business Tampere offers practical advice and concrete support, open doors and ensures that your company’s road to success is as smooth as possible.

The atmosphere in Tampere is very open and versatile. The high trust between partners makes collaboration easy. Business Tampere enables connections between potential business partners and organizes matchmaking events to facilitate further networking for businesses seeking for growth and internationalization. Easy networking helps to capture the latest knowledge, know-how and innovations. The strong technology and ICT cluster broadens to creative and sustainable industries.

The Tampere Region is a prime location to launch or expand one’s business and an ideal opportunity for investment and relocation with return on investment and high competitiveness. Whether it’s growth, internationalization, talents, investments, export, premises, networking, digitalization or innovation, the Business Tampere team is at your organization’s service.

Business Tampere can help your organization with the following:

Access to excellent high tech talent poolBusiness Tampere and the city of Tampere talent services provide businesses with the access to an excellent high tech talent pool. Tampere is known as a hub of high technological expertise, which attracts businesses, talented professionals and recruiters to the Region. The availability of talented, experienced and loyal ICT workforce in the Tampere Region is excellent and provides good value for relocation and investment. Besides, Tampere Universities have over 30 000 students and 5 000 specialists open for new opportunities.https://businesstampere.com/investments/investment-opportunities/areas-of-expertise/


34

FDI – InvestmentsAccelerating return on investment – Tampere Region is very cost effective compared for example to US and Central Europe in average annual ICT R&D salaries. https://businesstampere.com/investments/investment-opportunities/tampere-thriving-through-technology/

Relocation servicesBusiness Tampere provides relocation services, business (https://businesstampere.com/?page_id=21499&preview=true) premises and lots, and enable contact with the appropriate service providers and authorities:https://businesstampere.com/investments/relocation-services-for-companies/

Find an optimum place for your business:http://images.zoomprospector.com/client/assets/tamperefi/site/index.html

Access to R&D c ollaboration and funding programsBusiness Tampere facilitates R&D collaboration opportunities and connections with the Finnish innovation ecosystem. Industries have a strong background for R&D collaboration in the Region. Business Tampere offers advice on how to reach public R&D funding and makes connections with the private investors.

Tampere Universities and innovation servicesTampere offers advantages for businesses with high quality research-to-business activities in a cost effective way with Tampere Universities and the innovation ecosystem around it. Tampere Universities provides services also directly. The R&D in universities have helped new technology companies to be born in Finland.

Rapid Tampere program – The Leading industrial corporations scouting innovative high-tech solutions Through the Rapid Tampere program, Business Tampere supports co-creation between leading industrial corporations of Tampere Region and global startup companies. The process includes global scouting of startup and high-tech companies providing new solutions and services. Look for new global scouting rounds: https://www.vertical.vc/rapidtampere/

Business Finland coordinates the incentives and schemes at the national level. For more information on Business Finland Funding check- https://www.businessfinland.fi/en/do-business-withfinland/invest-in-finland/incentives/incentives-short/

R&D Incentives: Business Finland’s Innovation FundingBusiness Finland’s innovation funding provides low-interest loans and grants to challenging and innovative projects potentially leading to global success stories. The organization offers funding for research and development work carried out by companies, research organizations, and public sector service providers in Finland. Business Finland also emphasizes service-related, design, business and social innovations. Startups as well as SMEs and large companies can benefit from these incentives.


35

Access to Tampere Region business ecosystems and their schemesBusiness Tampere enables and coordinates the key business ecosystems, which have their own incentives and schemes in the Region.https://businesstampere.com/business-environment/business-ecosystems/

Training & Employment ServicesThe services offered by TE Centers cover recruitment, improvement of business efficiency and management skills, updating of staff skills, and training of new employees. Regional TE Offices can help organizations with recruitment. TE offices know the labour force and the job market in the area and can help organizations find a skilled employee who is just right for them.

Project and Smart City fundingBusiness Tampere is involved in coordinating various projects, e.g. in Smart City applications development, where EU or Finnish National funding may be applied for to fund company initiatives. Different projects are running at any point in time. There are numerous possibilities to get R&D funding from the national governments, loans and grants, and industrial/venture capital funding from private investors.

Address: Kelloportinkatu 1 B, 33100 Tampere, FINLANDhttps://www.businesstampere.com

Contact person: Ari LylynojaSenior Business [email protected]

Mr Oliver HusseySenior Business [email protected]


36

Turku Science Park Ltd. is a regional development company. The role of the company is to coordinate business and innovation services in the region and to strengthen the cooperation between the local companies, universities and public actors to promote the growth and well-being of the region.

Turku Business Region, in which Turku Science Park operates, is the most dynamic cluster of business and innovation activities in Finland. The focus clusters of the Region are Health, Maritime, Tech, Clean and Experience.

Turku Science Park Ltd can help your organization with the following:

• Partner search based on the company’s needs.• Providing information concerning establishing a company in the Region.

Startup Permit makes it possible for international growth entrepreneurs to build a startup company in Finland. The permit is meant for innovative startup founders of non-EU/ETA countries.https://careerinsouthwestfinland.fi/home/business/startup-permit/

Once a company is set up in Finland, the company is eligible for funding of Business Finland.

Address: Joukahaisenkatu 3A, 20520 Turkuhttps://www.turkubusinessregion.com/en

Contact Name: Ms Megumi HayashiBusiness [email protected]


37

INNOVATION ECOSYSTEM IN FINLAND


38

Aalto Startup Center (ASUC) is a business accelerator for start-up companies that are less than three years old, with a particular focus on the technological field. The accelerator utilizes the interdisciplinary competence offered by Aalto University in design, business and technology as well as the expertise and networks of the university. The participants include companies both from within Aalto and outside of it, and the accelerator also creates business activities from research-based projects. Currently, there are about 40 companies at Aalto Startup Center, 10 of which operate under ESA BIC Finland, which is focused on space technology and a member of ASUC. Aalto Startup Center’s premises are located in Otaniemi, Espoo. https://startupcenter.aalto.fi/

Aalto Startup Center helps new ventures against harsh market realities. In accordance Aalto Startup Center provides space and training to startup firms. Aalto Startup Center helps bridge startups and the external world with access to external resources such as money, customers, corporates and employees. Aalto Startup Center organizes networking events and connects students and research to startup firms. Boosting refers to activities that make entrepreneurs concentrate on growth creating activities in their startup firms. An example of this activity at ASUC is the work of both in-house and Aalto external startup advisors who monitor that entrepreneurs’ time is allocated to right tasks.

Aalto Startup Center runs a Business Generator program for startups for startups at the beginning of their journey. The Business Generator with its catch phrase “From Ideas to Impact” lasts 12 + 12 months. The program provides startups with support, coaching, tools and modern, communal workspaces, as well as networks for fundraising. Aalto Startup Center prepares teams for faster Business Validation and Scale Up. The work starts with a co-evaluation session, where the founders and Aalto Startup Center team members together will assess the current status of the company. Aalto Startup Center will select together focus areas and prioritize them to find areas for further development and to get a common view of the company. The executions are assessed in separate status check days three times a year. This execution will be supported with the Business Generator’s three development areas, which consist of the most important areas of activity for a growth company. Aalto Startup Center provides expertise in these particular areas by offering training, experts, sparring, digital data tools, networking events and access to funding. Aalto Startup Center helps with the scaling up of the company by networking with international partners and by connecting the startups to big corporate businesses.

Along with the Business Generator program, Aalto Startup also has the following program under its wing: The European Space Agency- Business Incubator (See separate info) and the European Institute of Innovation and Technology’s Urban Mobility program for Startups.

Address: Otakaari 5 A, Espoohttps://startupcenter.aalto.fi/[email protected]


39

European Space Agency - Business Incubator Centre Finland

The European Space Agency’s (ESA) Business Incubation Centre in Finland was founded in 2017 to support aspiring innovative entrepreneurs and young ambitious start-ups financially and technically to reveal their full space potential (https://www.esa.int). They are part of the wide European ESA-BIC network (http://www.esa.int/Our_Activities/Space_Engineering_Technology/Business_Incubation/ESA_Business_Incubation_Centres20). ESA helps organizations to introduce new technologies to the ESA and its partner network or to transfer existing ESA space technologies from hardware to data such as satellite data (https://earth.esa.int/web/guest/data-access/how-to-access-esa-data%3Bjsessionid=420AF8A87F992D2A523D3C22C5240F6D.jvm1) to terrestrial uses, whether consumer, business or both.

ESA welcomes ideas and business models proposing New Space solutions and technologies from positioning and navigation to communications, robotics, nanosatellites, Augmented Reality, autonomous driving, self-navigating and self-flying devices, ships and vehicles, novel materials, Artificial Intelligence, innovations specifically for arctic conditions, gaming, just to mention a few. ESA’s home base, A Grid, offers dozens of great meeting and presentation facilities. In the area there are numerous restaurants and a shopping mall – all accessible by the metro (station: Aalto University).

ESA BIC Finland is an organization’s gateway to space. ESA gives technical and business support and up to 75.000 EUR funding to its incubation companies. The best companies can get additional funding up to 10 Million EUR after successful incubation from its funding partner Business Finland to boost ambitious international growth.

ARE YOU A NON-EU TEAM? You can apply for the Finnish startup visa! European Space Agency’s Business Incubation Centre has a Permanent Open Call: One can apply at any time. ESA reviews the received applications, interviews the teams and selects new startups into its incubation programme 3 times per year (early Spring, early Summer & late Autumn).

ESA-Bic Finland works with Business Finland with the Startup permithttps://www.businessfinland.fi/en/do-business-with-finland/startup-in-finland/startup-permit/

Address: Otakaari 5A, EspooTel: +358 50 443 68 55 https://esabic.fi/home

Contact Name: Mr Kimmo IsbjörnssundHead of ESA BIC [email protected]


40

India Finland Tech Hub

https://www.startupindia.gov.in/content/sih/en/international/India_Finland_tech_hub.html

Startup India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. The Startup India Hub was announced by the Hon`ble PM on 16th January 2016, became operational on 1st April 2016 and is hosted under Invest India. Startup India serves as a single point of contact for the entire Startup Ecosystem in India and enables exchange of knowledge and access to funding. Additionally, the team works with States, Ministries, Corporates, Incubators, Accelerators and Investors to provide support with policy advocacy, open innovation challenges for problem solving, workshops and much more. The website – https://www.startupindia.gov.in acts as the largest user community of stakeholders of the startup ecosystem. The portal resolves information asymmetry, helps with stakeholder discovery & connects and provides free tools, templates, cloud credits, learning courses for all.

The Startup India bridge is a bidirectional program that helps Indian startups with the resources to expand and become globalized startups. The India Finland Tech Hub was launched in December, 2018 by the Ambassador of India at Slush 2018 (Finland). It aims to act as a central gateway for Indian and Finnish startups looking for cross-border expansion. It is a one-stop shop to facilitate entry and innovation exchange between the two countries.

The India Finland Tech Hub enables startups, investors, incubators, and aspiring entrepreneurs of both countries to connect and provide them with resources to expand and become globalized startups. This bridge serves as a technology infrastructure and common platform via which future joint programs will be run.

Salient features of the tech hub include:• Knowledge Exchange: Comprehensive guides and toolkits that will assist startups

in both countries to evaluate expansion opportunities and technology transfers• Networking Opportunities: Enable connectivity among startups, mentors, investors

and incubators in relevant sectors from both countries• Hosting Joint programs: From Investor roundtables to startup exchanges and more,

the portal will be a one-stop-shop to host all ecosystem programs• Capacity building platform: Access and application to events, competitions and

workshops in both countries followed by partnerships with co-working space

Indian startups connecting to Finnish Startup Ecosystem

Indian startups have an opportunity to connect with the Finnish ecosystem by leveraging one of the many programs run by Startup India.


41

• Exposure Visits: With help from Embassy of India, Startup India participates in Slush on an annual basis to support the most innovative Indian technologies and provide them exposure to the Finnish startup ecosystem. A delegation of a ~ 25 startups each were taken by Startup India (DPIIT) to Slush in 2017, 2018 and 2019 along with DPIIT officials and the Invest India team to facilitate market access, network and onboard international clients.

• Market Access: Indian Startups chosen for Slush also benefit from exposure visits about the Finnish innovation ecosystem, visits to incubators and corporates to understand Finland as a market and to build local connections. For instance, the delegation of startups visited Aalto University’s Startup Centre in 2019.

• Go to Market Guide on India–Finland Tech Hub: https://www.startupindia.gov.in/content/sih/en/international/India_Finland_tech_hub.html Startup India and Business Finland together set up the virtual India-Finland Tech Hub as a go-to-market guide which provides Indian startups a basic understanding of the Finnish startup ecosystem; the market, legal requirements and opportunities available in Finland. Users of this portal are startups, mentors, incubators and accelerators from Finland. Indian startups can use the connect features to get in touch with these stakeholders and understand more about the Finnish startup ecosystem. The startups can write to the support emails of Startup India and Embassy of India for any further support they seek.

There are other programs in the pipeline to strengthen the India–Finland collaboration for startups such as jointly organised corporate innovation programs, closed-door pitching sessions and knowledge sharing series between various stakeholders of the ecosystem.

Indian corporates connecting to Finnish startup ecosystem

The Indian corporates have the opportunity to connect with the finished ecosystem by leveraging the Facilitation Support provided by Startup India and Embassy of India in Finland on the India–Finland Tech Hub. The interested corporates can directly reach out to either one of the partners to collaborate.

Address: 110, Vigyan Bhavan Annexe,001, Maulana Azad Road, New Delhi 110 001Working Hours: 10:00AM - 5:30PM IST (Mon to Friday)Telephone: +91 011 2304 8255https://www.startupindia.gov.inContact Name: Startup India Support


42

Maria 01 is a community campus for the startup ecosystem. Maria 01 is a not-for-profit combination of a selective tech-club, a community house and a tribe of people building the products and services of the future. They provide the best possible environment for early-stage startup teams to work alongside venture capitalists, corporations, and other startup organizations.

Maria 01 can help your organization with the following:

The value of Maria 01 lies in the diverse network of over a 1000 members and partners. Their strong network of partners and advisors help them to connect their members to the right partners for collaboration. They tailor their partnership offering by understanding the customer’s needs and by agreeing on collaborations that are equally beneficial for both parties.

Special schemes:• Tailored programs for partners by Maria 01• Campus tours and presentations by Maria 01

Address: Lapinlahdenkatu 16 http://www.maria.io Mr Ville Simola Position: CEOEmail: [email protected]


43

A part of the City of Helsinki, Department of Economic Development.

NewCo Helsinki helps entrepreneurs found and develop their companies. Over 1000 companies are founded every year with the help of its advisory services. In addition to providing advice on how to run a business profitably, NewCo Helsinki helps companies navigate the Finnish business ecosystem and find suitable partners.

NewCo Helsinki offers advisory in multiple languages. Approximately a third of its customers have an international background.

Documents

Guide to Doing Business with Finland & Indian …...Guide to July 2020 Embassy of India, Helsinki 1 DISCLAIMER No part of this publication may be reproduced, copied or transmitted