Finland to focus on getting more out of its traditional industries

Home to some of the world’s largest forest products companies, Finland is committed to staying at the front of this sector and others where it is particularly strong, according to a recent study by the country’s National Technology Agency, Tekes.
Introducing new product and business concepts in traditional industries has been identified as one of Finland’s key six application focus areas in the future.

As leaders in the forest products sector, Finnish companies face some tough challenges in deciding how to revitalise parts of their business and develop start-ups to take advantage of new business opportunities. Multidisciplinary and cross-technological initiatives will be a key avenue to solving these challenges, according to the Tekes report.

Finland’s metal and electronic industry face similar challenges. To succeed in a global economy, these sectors need to pay increasing attention to specialising in competitive products and services and introducing new business models. Modern process and production technology, and developing new ways of using ICT, will be important in enhancing long-term competitiveness.

The Tekes report also suggests that the interfaces between different industrial clusters will have a valuable role in generating important new strengths for the Finnish economy. Combining Finnish strengths in electronics and the forest industry will open up the way for new kinds of materials and communication solutions. Innovative approaches to the media could open up new opportunities for paper products and extend paper beyond printing into a broader range of media uses. Finnish companies are already developing printed electronics and smart packaging, for example, and these are expected to play an important role in life in the future.