Finland has been ranked as 1st in the world for innovation supporting policies and other environmental factors, making it one of the world’s best places for innovation and tech development.
The Consumer Technology Association has ranked Finland as the world’s top country for innovation development. Finland’s national policies greatly emphasise education and tech development. Due to this nation-wide and government level push towards innovation development, the small country has become a world powerhouse for innovation.
High Speed and Affordable Internet: Finland was the first country in the world to make broadband internet connection a legal right for all its citizens. This means that people in Finland have access to high speed and affordable internet, showcasing the sound and advanced digital and telecommunications infrastructure in Finland.
This advanced telecom infrastructure means that Finland is an early adopter and creator of technologies and businesses located in Finland have access to the latest in tech developments.
High R&D Spend Allocation from GDP: Finland ranks at the top for GDP spending on research and development. Finland believes and invests in education and technology development as its main differentiating feature. This has given this small country with a population of just 5.3 Million a global status in innovation. In 2018, the R&D allocation from the GDP amounted to EUR 1,883.2 million.
This high investment in R&D means that Finland has many laboratories, research centres and centres of excellence equipped in the latest and best in machinery and equipment, which are accessible to business in Finland. Finland is one of the best locations for pilot testing and product development, and suitable for startups in futuristic technologies.
These main reasons and other reasons such as the liberty of its citizens in their rights to individual and political freedom, the high degree of cleanliness and low level of pollution and lower restrictions on modern developments such as drone testing, ridesharing and others has contributed to Finland’s high ranking as the best place for innovation in the world.
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