Espoo Innovation Garden: Where a new startup is born every week
India holds a middle position in the Global Competitiveness Indices; India is 40th in future readiness, it is 107 in technology readiness, 66 in infrastructure, 75 in education, and comes under the 50th position in financial market development, innovation, business sophistication, market size and institutions.
While these are definite improvements from the past, Indian companies in the ICT sector can be held back by the lack of access to the best infrastructure, talent, technology and skills. Without a firm footing in a fertile and supportive environment, Indian firms may struggle to develop innovative and world-class products that can compete globally.
However, Indian firms are resolving these issues by setting up operations in technologically and infrastructurally advanced locations like Finland. There are several Indian companies that have set up operations in Finland from India’s mega MNCs to small SMEs that have unique tech products with a global market.
One of the best tech startup and business locations in Finland is the Espoo Innovation Garden. Espoo is a part of the greater Helsinki region of Finland and a part of the Finnish capital. The Espoo Innovation Garden refers to the city of Espoo as a technology hub. It is home to major international companies, thousands of highly skilled researchers, educational institutes, research centres, and art and cultural centres.
ABOUT THE CITY
Aside from Helsinki, Espoo is the largest and fastest growing city in Finland. It has the advantage of being connected and part of the Helsinki metropolitan and is home to a large portion of the people who live in Helsinki. Espoo is strong hub for ICT and tech development and the following mind-map and infographic shows why Espoo is an attractive location for Indian companies.
The City of Espoo is a ‘young’ and vibrant scene for businesses that focus on developing cutting-edge technology. The presence of a qualified and skilled talent pool and an ecosystem of top tech companies make it a suitable environment for Indian firms looking for a suitable R&D or operations locations abroad.
THE HEART OF THE ESPOO INNOVATION GARDEN
An important feature of Espoo is it’s ‘heart’ or 3 major areas where there is a strong concentration of international companies, cultural activities, sports events and a massive community of scientists and researchers. These are the Tapiola, Keilaniemi and Otaniemi areas in Espoo
This mindmap gives a brief look at the features of these three locations:
The access to highly educated and talented workforce, the presence of a large number of researchers and the ecosystem of Finnish businesses, make Espoo a lucrative location for the innovating Indian firm.
The process of setting up a business in Finland is also very easy and smooth due to the high degree of transparency, low corruption and the humility and support shown by the members of the Finnish governmental authorities. Indian SMEs and startups can also find advice, support and services from an Indian player PrEver which is closely involved in helping Indian businesses set up in Finland.
For information specific to your business and industry and to learn more about the advantages and opportunities awaiting Indian firms in Finland, follow PrEver on social media or contact us directly.