Posts Tagged ‘Finland’
New Impact Study: Maritime Travelers Bring Nearly One Billion Euros to the Helsinki Region’s Economy
A new study by the University of Helsinki shows that the Port of Helsinki is a major driver of both the economy and employment. The total annual economic impact of port operations amounts to €4.2 billion, generating over 39,000 jobs.
The Port of Helsinki serves as a key hub for both Finland’s international trade and passenger traffic. In 2024, 14 million tons of goods passed through the port – around 16 percent of Finland’s total foreign trade. Passenger volumes reached 9.5 million, accounting for 70 percent of all international passenger traffic through Finnish ports.
“The Port of Helsinki is not only a vital logistics hub serving the entire country and is also a significant contributor to the economy and job creation. Its influence can be seen widely across business performance and the city’s tax revenues,” says Ville Haapasaari, CEO of the Port of Helsinki.
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Originally published on 6 Nov
Read MoreEstonia strengthens Nordic ties with high-level Finland visit
For Estonia, there’s no neighbour as strategic and important as Finland — aside from the historical and cultural ties, the country leads in the ranking of trade and investment partners. Strengthening these ties is more important than ever.
Last week, Minister of Economy and Industry Erkki Keldo Erkki Keldo led a dynamic Estonian business delegation to Finland on November 3-4, bringing together leading tech companies and industry leaders to deepen cross-border partnerships and explore new opportunities in innovation and manufacturing.
The two-day visit centred on the Finnish-Estonian Business Forum “Smart Neighbours: Future of Industry,” where Ministers Keldo and Finland’s Sakari Puisto talked about the robust economic partnership between the two nations. The forum featured a standout panel discussion with industry heavyweights Risto Siilasmaa (WithSecure, F-Secure), Sten Tamkivi (Plural, Skaala), and Jussi Herlin (KONE), moderated by Kirke Maar from AI & Robotics Estonia.
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Originally published on 7 Nov
Read MoreRobotex and TiES sign partnership agreement to strengthen robotics education
The international robotics organisation Robotex International, registered in Estonia, and the Finnish science and technology society Tietotekniikan ja Elektroniikan Seura (TiES) have signed a partnership agreement to expand cooperation in robotics education and competitions both in Finland and internationally.
Under the agreement, Robotex Finland will be organized in cooperation with Amazing Robots, taking place on 4 November in Helsinki as part of the Teknologia 25 fair. The joint initiative aims to bring together young engineers, students and technology enthusiasts, offering them opportunities to develop their skills and contribute to shaping the future of robotics.
“This partnership is a great example of how two frontrunners in technology education organisations can join forces to inspire the next generation of innovators,” said Nathan Metsala, CEO of Robotex International.
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Originally published on 6 Nov
Read MoreThe Baltic economy Why Poland matters
It is a business opportunity
Read MoreEU funding supports preparatory work for the Baltic Sea Hydrogen Collector (BHC)
The Baltic Sea Hydrogen Collector (BHC) project has received €15.3 million in EU funding to support preparatory work for a future cross-border hydrogen infrastructure. Recognized as a Project of Common Interest (PCI), BHC aims to connect Finnish and German renewable hydrogen markets, contributing to Europe’s energy transition, market integration, and energy security.
The funding will be used for preparatory activities, including technical (pre-FEED), regulatory, and environmental assessments. These studies aim to explore the potential of BHC as a future cross-border hydrogen import corridor, supporting Europe’s long-term energy transition and energy security.
The planned Baltic Sea Hydrogen Collector (BHC) project, an offshore pipeline connecting Finnish and German renewable hydrogen markets, is receiving support from the European Union. Gasgrid Finland, Copenhagen Infrastructure Partners (CIP), and GASCADE Gastransport GmbH are grateful to receive a €15.3 million grant from the EU’s Connecting Europe Facility (CEF) programme. BHC is a Project of Common Interest (PCI), essential for Europe’s energy transition, energy security, and market integration.
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Originally published on 28 Oct
Read MoreEIB backs upgrades of Finland’s Olkiluoto nuclear power plant with €90 million in financing
The European Investment Bank (EIB) is lending Finnish energy supplier Teollisuuden Voima Oyj (TVO) €90 million to upgrade two nuclear power units in Finland. The project involves reactors 1 and 2 of a power plant on the southwestern island of Olkiluoto and aims to ensure continued safe, low-carbon electricity generation in line with national and European Union rules.
TVO plans to update automation and control systems and replace components known as steam separators in the Olkiluoto 1 and 2 units. The upgrades, which will be implemented progressively over a multi-year timeline, are essential for maintaining high safety standards and operational reliability at the Olkiluoto power plant, which has a total of three units.
The planned improvements are required under Finnish and EU nuclear-safety legislation. They are part of TVO’s long-term investment programme to ensure safe and efficient operation of the Olkiluoto plant and follow other EIB-backed enhancements at the site in 2016.
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Originally published on 30 Oct
Read MoreFingrid secures transmission capacity for growth in electricity consumption and new industrial investments – restrictions on new energy storage facility connections continued in southern Finland
There will be a shortage of grid connection capacity in southern Finland in the coming years. Fingrid’s objective is to ensure that there is sufficient connection capacity to meet the growth in electricity consumption in households, the service sector and industry, as well as new industrial investments that generate economic growth. As a result, Fingrid will continue to restrict the connection of new grid energy storage facilities in southern Finland until 2029. Location is of little importance for the commercial operation of energy storage facilities, and there are plenty of connection opportunities for grid energy storage elsewhere in Finland.
Last winter, Fingrid announced that no new electricity consumption and grid energy storage could be connected to the consumption-dominated southern Finland before the beginning of 2027. The restriction will now be continued for grid energy storage until 2029, when the new Hikiä-Toivila grid connection that will increase connection capacity in southern Finland is completed. This will ensure that there is sufficient connection capacity to meet the growth in electricity consumption in households, the service sector and industry, as well as new industrial investments that generate economic growth.
Fingrid is exploring new ways to connect grid energy storages to southern Finland earlier than currently announced, such as flexible connections.
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Originally published on 26 Sep
Read MoreThe Hola 5G Oulu project wins the Light Reading Leading Lights Award
A prestigious recognition in the ‘Outstanding Use Case: Driving Digital Transformation’ category went to the consortium involved in the project, Oulu University Hospital, Pohde – The Wellbeing Services County of North Ostrobothnia, University of Oulu, and WICOAR Technologies.
The Hola 5G Oulu project marks Europe’s first private 5G network deployed in a live hospital environment, tested in high-stakes scenarios including patient wards and surgical theatres. Installed at Oulu University Hospital (OYS), the network delivers ultra-reliable, interference-free connectivity across patient wards and surgical theatres, introducing a new era of smart, responsive care.
Key highlights:
- Private 5G standalone network: Ensures seamless, secure connectivity, even during blackouts
- AR Smart Glasses: Deliver live patient data to clinicians in surgical theatres and wards
- Voice Communication Headsets: Enable instant coordination across hospital wings
- Wing-to-Wing Coverage: Eliminates fragmented communication and boosts operational efficiency
This project is funded by the European Union.
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Originally published on 24 Sep
Read MoreFinland needs a new kind of administration in the future – New report encourages institutional reform
Our administrative structures were created under conditions that no longer exist. This makes it difficult to manage long-term challenges such as demographic change, argues a new publication by Sitra and The Institutional Architecture Lab (TIAL).
The Rethinking Institutions in an era of Demographic Transition report offers concrete proposals tailored to Finland’s situation, along with international examples of how institutions can be reformed to meet the needs of today and tomorrow. According to the report, reform and foresight are essential if Finland is to respond effectively to the changes brought about by demographic development.
Demographic change is challenging the foundations of society: aging populations, declining birth rates, and migration trends directly affect the sustainability of the welfare system, labor markets, and agility of governance.
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Originally published on 17 Sep
Read MoreThe first year of OYSTER in Oulu’s Health & Life Science Incubator activities
The OYSTER health and life science business incubator, launched at the beginning of 2024, has been an interesting and educational journey both for the teams developing business ideas and for our project team. From the very start, our goal was to build both a pre-incubator and a full business incubator – to provide sparring for the development of early-stage ideas as well as long-term support for the growth of start-ups.
The first months were spent designing operational models, exploring the latest research on business incubation, and building cooperation with experienced incubators in the field. We also brought in external consultancy, while our project team already had strong experience in entrepreneurship and business incubation.
In autumn 2024, we organized the first 100-day pre-incubator program, with 13 teams participating. Five of them continued into the full OYSTER incubator program, which started at the beginning of 2025. Altogether, 10 teams began in the main business incubator program, which is still ongoing.
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Originally published on 11 Sep
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