Starting out as a mainly agricultural economy, Finland has gained a place among the richest industrial countries of the world in only 50 years. Finland is a member of the European Union and has a GDP of EUR 24 000 per capita. Approximately 10% of European life sciences companies are located in Finland.

Finland has a population of 5.2 million, with 70% in urban centres. There are more than 3.5 million mobile phones in Finland, highest per capita in world. Science and technology development is firmly implanted as the way forward in Finnish society.

Commitment to R & D

Over the past few decades, Finland has made a strong political commitment to Research and Development. R&D expenditure grew rapidly during the 1990s, mainly owing to an increase in corporate input, to a total of nearly EUR 5 billion in 2001. One result has been a 'brain gain' over the past decade.

The share of private R&D investment has grown from 57% in 1991 to nearly 73% in 2001. The increase in corporate R&D investment is mainly due to the electronics industries, with Nokia leading the pack.

There is greater quality for a company's salary dollar - Finland is relatively inexpensive in terms of tax and non-wage labor costs, especially in comparison to Germany and the Scandinavian countries. In the Institute for Management Development's World Competitiveness Index, Finland ranked first in 2001.

Educational Cooperation

There is a great deal of cooperation between universities and top research units, and high-tech industries offer considerable potential for greater penetration into Europe. In regional centres such as Turku, universities and companies are working to transfer scientific and technological know-how to industrial production and business activities.

Among the many factors driving this activity is the Finns' generally high level of education. The exacting quality requirements for systems and equipment in the biotechnology industry cannot easily be met in most countries. Finland's Nordic roots stress education and productivity, while its geographic position at the center of the New Northern Europe encourages familiarity with many cultures and the mastery of languages, English being pre-eminent. Technical skills, cutting-edge infrastructure, entrepreneurial ethic and cosmopolitan people are a big incentive for international investment.

IT Society

There is a very high utilization of technology, especially information technology, in Finland. Mobile telephones, Internet connections, electronic money transactions and automation in manufacturing processes are far more common per capita in Finland than anywhere else on the globe.

Finland's economic, social and cultural development is based on knowledge and skills. The consistent promotion of a national innovation system has laid the foundation for the growth of knowledge and skills and their extensive utilisation for the benefit of the individual and the community.

Development of the Finnish research system to improve quality, efficiency and its scientific and social relevance is of prime importance. This is achieved by developing cooperation networks and by increasing quality-based competition in the targeting of research funding, whilst ensuring a steady funding to research organisations.

Biotechnology

The success of Finland's strategies is nowhere more evident than in biotechnology, and in the city of Turku in particular. This former capital of Finland is now a centre for biotechnology businesses and research facilities. The business eco-system that has developed is leading the way in Finland, and is showing the rest of Europe and the world what can be done with single-minded determination and local and national support.

smart-tours.com is pleased to offer the Finland Bio Tour 2002 - an opportunity to see first-hand how Finland's leadership is making a difference in biotechnology.