March 30, 2020
DAILY BRIEF: More support for Finnish businesses, entertainment, construction and health technology
The Finnish government, via Business Finland and ELY, steps up financial support for struggling businesses amidst the COVID-19 outbreak.
All the daily Finnish business news that works: Business Finland, Rovio, Caverion, Hypermemo, Precordior, Fevermap and Finnish film make headlines.
Business Finland invests in hard-hit Finnish businesses, Rovio’s Angry Birds land on Netflix, a Finnish film’s rights are sold in the UK, Caverion continues collaboration in Sweden, a new hotel concept is coming to Helsinki, Hypermemo and Precordior secure EU funding, and Fevermap tracks the spread of the coronavirus.
Business Finland has seen the Government increase its funding package for helping small and medium-sized companies struggling amidst the coronavirus outbreak to 700 million euros. The Finnish public organisation has already received around 12 000 applications for the funding, which will be granted to businesses with six to 250 employees. The Centres for Economic Development, Transport and the Environment (ELY Centres) will support smaller companies with one to five employees. Business Finland will target the funding especially at the tourism, creative and performing industries, as well as any sectors experiencing disruptions in the production chain.
A new animated series based on the world-famous Finnish mobile game franchise Angry Birds will premiere on Netflix in 2021. Titled Angry Birds: Summer Madness, the series will be produced for the streaming service giant by Finnish game studio Rovio and its UK-based partner, CAKE. It will consist of 40 11-minute episodes and take its cue from the humour and tone of the Angry Birds films while showcasing a fresh look. The action takes place on a summer camp, where iconic Angry Birds characters such as Red, Bomb and Chuck, along with some new feathered friends, push the boundaries and break the rules while fending off the obnoxious pigs on the other side of the lake.
The British TV rights for J-P Valkepää’s much talked about BDSM drama film, Dogs Don’t Wear Pants (Koirat eivät käytä housuja), have been acquired by Film 4, part of British broadcaster Channel 4. The film’s premiere was supposed to take place in UK theatres on 20 March, but it was put on hold when all cinemas closed over the coronavirus. It will now be released on Film 4’s network and online streaming service on a yet-to-be-announced date. The film will also be hosted by other platforms such as iTunes, Amazon, Google Play and YouTube in the coming weeks.
Finnish company Caverion has continued its partnership with the Swedish municipality of Nordanstig to create substantial energy savings. Caverion will carry out an energy performance contracting (EPC) project with the municipality and its housing company, Nordanstig Bostäder, under a four-year agreement covering the building stock and a 15 million-euro investment. EPCs are long-term contracts where various energy efficiency measures and investments in municipal buildings are financed through savings in energy costs. The execution phase of the project starts in April and is expected to finish by 2023. It promises to significantly improve sustainable urban development in Nordanstig.
Meininger Hotels will build a new hybrid hotel concept in Finland’s capital, Helsinki, that will serve various customers from backpackers to business travellers. The hotel chain has collaborated closely with Business Finland and Helsinki Business Hub on the project and decided to set up the hotel in the new sustainable Wood City block in Helsinki’s Jätkäsaari neighbourhood. The concept combines the benefits of a hotel and hostel and will offer 194 double, triple and quadruple rooms for 648 guests, who can either share rooms or stay over by themselves. The lobby, game zone, bar and lounge areas are also designed to create a sense of community.
Finnish companies Hypermemo and Precordior have both received more than two million euros in funding from the EIC Accelerator programme that supports high-risk, high-potential small and medium-sized businesses and innovators in the EU. Both companies secured the financing in the programme’s second phase. Hypermemo develops high-precision laser technology that is redefining glass processing. Precordior, as we reported last week, received the funding to further develop CardioSignal, an application that detects cardiac diseases with a smartphone.
Finnish app Fevermap helps health authorities to track the spread of the coronavirus by providing a real-time visual overview of areas where people have reported symptoms. Currently the testing capacity for the virus is limited in many countries. Fevermap was created during the online hackaton Hack the Crisis Finland and has already been taken up in other countries. Read more about it in our breaking news article by following the link in the headline.
Good News from Finland is published by Finnfacts, which is part of Business Finland.
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