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Helsinki region named one of world’s top emerging startup systems

Startups in the Helsinki region account for more than 10 per cent of tech jobs in Finland.

N2 Albiino / Helsinki Marketing

The Finnish capital region is listed as the world’s 20th best emerging startup ecosystem in Startup Genome’s Global Startup Ecosystem Report 2021 (GESR).

The startup ecosystem, the report indicates, generated some 5.6 billion euros in added value for the region in the past two-and-a-half years while attracting nearly 470 million euros in early-stage funding. The ecosystem drew praise for the availability of funding and support, be it from its large network of business angels or public organisations, and its talent pool in the gaming, digital health and artificial intelligence sub-sectors.

“Finnish startups receive the most venture capital per capita in Europe,” the report acknowledges.

“In 2020, Finnish startups received a record of one billion US dollars in investments. There are several startup hubs offering support to young companies to accelerate their business, such as Maria 01 [in Helsinki].”

Greater Helsinki has produced four unicorns – that is, startups valued at over one billion US dollars – and is today home to an additional eight startups that are on course to achieving the sought-after status. Its startups presently account for over one-tenth of all tech jobs in Finland.

Startup Genome also called attention to the world-famous education system, high level of productivity and competitiveness and the fact that the Finnish capital region has the second highest concentration of successful app developers after only Silicon Valley.

The report was received with delight at the City of Helsinki.

“The message is clear – there is quality in the ecosystem,” stated Marja-Leena Rinkineva, head of economic development at the City of Helsinki.

By: Aleksi Teivainen