Innovations for Sustainable Growth

Finland is investing a significant amount of public money in research, development and innovation. It is important for the future that this money is invested efficiently and effectively. Sitra builds knowledge base and brings together various actors to discuss the allocation of R&D investments.

What is it about?

Finland is in need of solutions that will enable our country to reform and turn around more than 15 years of weak economic growth to safeguard prosperity.

Although Finland is an innovative country according to several international surveys, for some reason R&D does not sufficiently lead to innovation, private investments and new business.

In Finland, the state has committed billions of euros to research and development to improve the national economy, on the condition that the private sector also contributes. Finland’s target is for R&D investment to reach 4% of GDP by 2030.

To ensure that public investment is not wasted, we need to work together to ensure that the climate and environment are conducive to investment and cooperation, thus encouraging growth. Then the desired development investment from the business sector can be achieved.

What do we do?

Sitra’s aim is to improve the effectiveness of Finland’s RDI investments. Our mission is to promote the well-being of Finland and accelerate economic growth within the limits of nature’s carrying capacity.

Sitra is gathering views on the allocation of R&D investments and the need to reform the system.

We bring actors together and provide a genuine opportunity for constructive dialogue and different views by using facilitation methods.

One important area for development is cooperation between businesses and universities and research institutes, which emerged from the responses of business decision-makers to Sitra’s survey. We are experimenting with new ways to increase collaboration between the research community and businesses to deliver successful innovations for the future.

Who is involved?

It is important that the voices of the key actors involved in innovation are heard when reviewing the functioning of the innovation system and, in particular, when reforming it.

Universities and universities of applied sciences, research institutes, businesses, interest groups, ministries and other public authorities are all involved.

We work closely with the Finnish Research and Innovation Council. The Finnish Research and Innovation Council is an advisory body led by the Prime Minister. It develops research and innovation policy and presents proposals for the allocation of R&D funding.