IMI - Innovation Management Institute

An Insider’s View: Report on the Finnish Life Sciences Industry

Authors Patana Anne
Carleton T
Polvinen Kirsi
Kanto Laura
Nordlund Hanna
Pihlajamaa Jussi
Berg Pekka
Project BIOINNO
Type Other
Release date Dec. 31, 2011

Abstract

This report is an insider’s view to Finnish innovation environment in biotechnology, especially focusing on life sciences sector. It will bring up important aspects and concerns that actors in the field shared with us. Shortage of funding, risk aversive attitude, lack of business know-how, unsupportive entrepreneurial climate and negative public image have been shaping the business environment in the Finnish Life Sciences sector. On the other hand the strong role of Tekes, top level basic research, strong local networks, and high quality education were seen as extant strengths that are essential on the way to success. The report contains some comparisons to San Francisco Bay Area, the strengths and challenges being quite different in these two areas. In fact, in some cases they seem to be just the opposite. Nonetheless, based on the interviews Finland still has a lot to give in biotechnology and the life sciences sector. The basic infrastructure is good, we have top level research in specific areas; hopes are high and there is a lot potential. In addition, industry has a working relationship with universities, and the whole sector is more mature, even though some challenges in local and global partnering as well as in technology transfer were recognised.

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