Finland

Greater Helsinki

Early-Globalization Phase
MEMBERS:
Helsinki Business Hub

Even in times of crisis, Helsinki continues to be a functional, safe and sustainable city. We work with the local community to help startups survive and rebound.

Jan Vapaavuori
Mayor of Helsinki

Sub-sector Strengths

AI, Big Data & Analytics

Finland was the first EU country to publish a National AI Strategy in June 2017. The free AI education program offered by Reaktor and the University of Helsinki enrolled nearly 90,000 students from 80 countries in its first 4 months, making ‘Elements of AI’ Finland's top online course. The Finnish Centre for Artificial Intelligence (FCAI) earmarked €8.3 million in funding for 2019–2022. Giosg, an AI customer behavior tool, raised $5.3 million in venture funding led by Varenne Investment. ZenRobotics, which uses AI-powered robots to sort trash, raised $17 million.

Digital Health

Finland ranks among the strongest health technology economies in the world, while Digital Health is its largest high-tech export. Foreign exports of health technology rose to a new record in 2019, amounting to $2.67 billion, an increase of 5.7% from the previous year. Greater Helsinki is focused on further advancing its Healthtech ecosystem and launched the Health Incubator Helsinki in 2019 with the aim of driving health innovation and research. Patient monitoring software provider Kaiku Health was acquired for an undisclosed amount in May 2020.

Why you should invest in Greater Helsinki

TOTAL EARLY STAGE FUNDING
$511 m
GLOBAL AVG.
$431 m
ECOSYSTEM VALUE
$5.8 bn
GLOBAL AVG.
$10.5 bn
Top 20 Emerging Ecosystem
Talent
Top 5 Emerging Ecosystem
Funding
5
Exit Growth
INDEX
9
Investor Activity
INDEX
3
Funding Growth
INDEX

Reasons to move your startup to Greater Helsinki

MEDIAN SEED ROUND
$465 k
GLOBAL AVG.
$494 k
MEDIAN SERIES A ROUND
$2.2 m
GLOBAL AVG.
$2.7 m
SOFTWARE ENGINEER SALARY
$51 k
GLOBAL AVG.
$42.1 k

Low Cost, High Quality

The Greater Helsinki startup ecosystem offers entrepreneurs all the benefits of a Scandinavian lifestyle at a lower cost of living than many other tech hubs in the region. Startups have access to excellent talent at reasonable salary levels, as well as to various government funding actions. Finnish startups receive the most venture capital per capita in Europe. Greater Helsinki is home to Artic15 and Slush, leading startup and tech community events.

COVID-19 Policy

The City of Greater Helsinki, in its first phase of measures to relieve the burden on businesses due to COVID-19, announced a three-month postponement of rent (interest-free) on city-owned commercial properties leased by the city. Additionally, Greater Helsinki granted a one-off support facility to sole traders worth €2,000. These measures are part of a wider package of support offered at the municipal, regional and national levels.

Startup Community

Startup Genome
Members

Startup Genome
Partners

Espoo Innovation Garden
Helsinki Think Company
Nestholma
Maria01
NewCo Helsinki
Butterfly Ventures
Arctic Startup
Business Finland
Helsinki Games Factory
xEdu Accelerator

Featured Articles from
Local Ambassadors

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Get connected

Are you interested in diving deeper into this ecosystem? Drop us a message. Our Ambassadors and Partners can plug you in.