in content lists or on the content page.Sitra’s programme-based operations have made an excellent start. In 2006, they focused on selected programme areas, which are innovations, health care, food and nutrition, environment, Russia, and India. Collaboration with partners brought excellent results and best practices were promoted.
The spearhead projects within the programmes created new operating models: the Health Care Programme promoted electronic health care services, while the Food and Nutrition Programme issued a strategy in May, steering Finland towards becoming a forerunner in healthy nutrition. The Environmental Programme focused on strengthening the Cleantech industry to boost Finnish environmental business. The Russia Programme worked on the industrial park project to help the expansion of Finnish enterprises in the Russian market. The Innovation Programme launched the National Foresight Network, and the India Programme produced new insights into the opportunities offered by India.
“Our own experience and the external evaluation have shown that the guidelines for programme-based operations are successful and the programmes have all progressed according to plan. This particular operating model is the one that allows us to best contribute to innovation and progress in Finnish society,” says Esko Aho, President of Sitra.
Sitra reports good financial result for 2006
Sitra’s activities are financed by the yield from its endowment capital and the return on its financing activities. The market value of Sitra’s endowment capital increased to €767 million from €662 million at the end of the previous financial year. Return from endowment capital was 12.4%, and financing activities also yielded good returns. The volume of Sitra’s funding decisions was €29 million in 2006, and the net profit for the year was €73.1 million.
“The good financial result provides strong support for Sitra’s established roles re-shaping society and developing new business”, says Magnus Sjöblom, Director of Finance and Corporate Funding.
Under its strategy, Sitra makes new investments only in companies that operate in Sitra’s programme areas. New investments were made in 2006 within the Health Care Programme, Environmental Programme, and the Food and Nutrition Programme.
Sitra’s portfolio includes approximately 100 companies and 36 venture capital funds. Sitra supports seed stage companies through its PreSeed financing service.
Further information
Sitra’s Annual Report 2006
Sitra’s annual report 2006 can be ordered or downloaded (pdf) via this website, see page Annual Reports »
Annual Report can also be ordered via e-mail: publications@sitra.fi