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In an interview, the aptly named feedback company HappyOrNot attributed the startup success in Finland to the uniquely Finnish idea of sisu.
This nearly untranslatable word describes a mindset among Finns that refers to everything from stoic determination and bravery to openness and tenacious resilience.
This notion of sisu makes Finnish people action-oriented with a strong sense of purpose and a proclivity for teamwork and collaboration.
The sisu of Finnish tech entrepreneurs shows how a collective decision to aim higher can ultimately drive the success of an entire industry within even small, moderately-populated countries like Finland.
Also, Finland winters are incredibly cold, so why not stay inside and work on perfecting a startup?
Investing in Revolution
Since 2000, Finnish research and development investments have consistently clocked in at more than 3% of GDP.
Today, Finland’s investment in R&D, when viewed as a percentage of GDP, is the highest in Europe. The country has built innovation into their investment mindset.
The government plays a large part in this revolution. Through federally-funded investment support campaigns, comprehensive mentorship programs, and a government-run innovation funding agency called Tekes, the Finnish government has taken a more hands-on approach to their startup scene than most, but not without limits.
Their stated purpose is to give up-and-coming entrepreneurs and companies the resources they need to be successful, without overstepping their bounds or overstaying their welcome.
The focus on innovation also comes directly from the Finnish people.
Finns are quick to adopt new technologies, and as a result, the country has become a hotbed for tech testing. Right now, an extensive test-run of cutting-edge 5G networks — spearheaded by companies like Huawei, Nokia, Ericsson, and Intel — makes Finland home to one of the most advanced mobile networks in the world.
It’s no wonder that mobile gaming continues to be a huge part of the Finland tech scene.
Playing to Their Strengths
Finland made conquering the casual gaming market look easy.
Companies like Supercell and Rovio have long become mobile gaming behemoths — they created Clash of Clans and Angry Birds, respectively.
These accessible mobile games leaned on simple yet compelling gameplay and design elements that perfected the pickup-and-play addictiveness that has dominated the mobile gaming market since its inception.
As those companies raked in money and licensing deals — Sony’s The Angry Birds Movie raked in over $350 million worldwide — foreign investors threw money at other Finnish game companies hoping to strike it rich with the next hot property.
Since then, the gaming industry in Finland has grown exponentially, and notable startups like Armada Interactive and Small Giant Games are riding enormous buzz and talent to help evolve the mobile gaming industry in new and interesting directions.
With that said, a more comprehensive discussion of the Finnish tech scene includes much more than games.
More than Just Games
Innovation in Finland spreads across nearly every industry and discipline. For one, healthtech has become a vibrant and exciting part of Finnish innovation.
The inventive diagnosis and treatment app, MeeDoc, seeks to upend traditional doctor visits, and has become popular throughout the EU.
Finnish companies like the T-cell therapy startup TILT Biotherapeutics and the genetic research firm FinnGen have been carrying out cutting-edge research. Similarly, Blueprint Genetics has been making waves in the science and healthcare communities with their relatively affordable and accurate genetic testing technology.
When it comes to finance, startups like the food-focused mobile payment company Wolt, and the invoicing disrupter Zervant have gained attention from fintech investors.
In the media world, other entrepreneurial Finns have dipped their toe into the marketing and advertising industry with social media ad automation firm Smartly, and the global publisher monetization platform Kiosked.
Finland is also home to the socially conscious waste management company Enovo, the satellite imaging startup Iceye, the revolutionary sustainable materials company Onbone — and the list goes on.
The point is that Finland’s, and more specifically Helsinki’s, innovation ecosystem is incredibly diverse, and that diversity speaks to something deeper about the nature of Finnish ingenuity.
Sustaining the Innovative Atmosphere
Finland is the most sparsely populated country in the European Union, and yet they are home to more tech exits than any other country in the union.
One of the biggest reasons for this success is the continued cultivation of a collaborative tech community that values teamwork and the sharing of ideas.
Ultimately, hugely popular cooperative innovation hubs like Startup Sauna and Maria 01 have helped to foster this sense of Finnish innovation, as has the charmingly absurd practice of Polar Bear Pitching — think shark tank in near-freezing water.
However, one event in particular has made Finland into a startup mecca like no other, and that is the multinational innovation extravaganza that is Slush.
Hot startups converge on Helsinki once a year — Slush 2018 takes place on Dec 4th and 5th of this year — to share ideas and promote their brands to VCs and investors from around the world.
All of this adds up to an atmosphere of excitement and innovation that has been carefully and deliberately cultivated by the tech community, the government and the citizens of Finland, no doubt driven by their indescribable feelings of sisu. Maybe they’re onto something.
