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Country Is Among the 10 Most Innovative in the World, According to the Global Index, and Offers Support to Startups and Talents Looking to Develop in Europe
A promising destination for Brazilians abroad, Finland is the right country for startup founders wishing to establish or relocate their businesses in the technology market. The 2023 Innovation Ecosystem Mapping Abroad: Finland indicates that the country has over 3,821 startups, and has a combined market value of €48.2 billion.
The Nordic country is also the 13th most promising emerging ecosystem for startups, according to the Global Startup Ecosystem Index 2023, which is why Work in Finland is welcoming international talents, including Brazilians, to explore opportunities in the country.
In the ranking evaluating global innovation ecosystems based on 80 indicators, Finland is the sixth country in the world with the best environment for innovation, according to the Global Innovation Index – GII 2023. However, despite its strong performance, the Nordic country aims to become even more competitive globally and is therefore seeking to attract innovative Brazilian startups.
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With a population of 5.5 million, Finland has global success stories, including the dominance of Nokia mobile phones, the first heart rate monitor, airplane black boxes, 5G, and the Linux operating system. Key sectors include gaming, bioeconomy, clean and smart technologies, health and wellness, ICT and digitization, and travel and tourism.
SLUSH 2023
To promote this ecosystem, Helsinki, the capital of Finland, will host from November 30 to December 1 the world’s leading startup event: SLUSH 2023. The event is expected to bring together over 13,000 people, featuring 5,000 startups and 3,000 national and international investors seeking opportunities and knowledge about the Finnish innovation ecosystem.
The Brazilian Ana Camargo, 29 years old, is a game designer who left her established career in Brazil to take a risk in the Finnish job market in 2021. In addition to creating mini-game ads for major studios as a freelancer, she started her own interactive digital product startup for children. “I participated in a talk at one of the incubators, presented my project, they liked it and encouraged me to set up my own company and helped me put my plans into practice, along with a business advisor who guided me throughout the process,” she says.
Excited about the business opportunities in the country, she is confirmed to attend SLUSH and is eager for the prospects. “It’s my first year at SLUSH, so my expectation for the event is to connect with as many people as possible, network, and receive feedback from experts about my business,” says Ana.
Incentives
To create a favorable business environment for companies starting their journey in the technology market, Finland offers funding for research and development of products and opportunities, especially for small and medium-sized enterprises. The funding is aimed at companies established and based in Finland.
“Founders of Brazilian startups find Finland’s ecosystem interesting because the business environment is stable, society is safe and transparent, with a relatively low level of bureaucracy. This positions the country as one of the most business-friendly places in the world,” says Hanna Riski from Work in Finland.
Brazil has been deemed one of the priority countries for Finland’s talent attraction strategy, and the Business Finland office in São Paulo has implemented activities to attract startups to the country.
Opportunities in Finland
Finland is also reducing bureaucracy in the process of granting the “Startup Permit,” a residence permit for startup teams with an innovative and scalable business idea.
According to Alessandra Leone, Talent Manager at Work in Finland, a unit of Business Finland, “with Finland’s focus on renewable energy markets, food, bioeconomy, quantum computing, defense, telecommunications, health, and video games, the country can certainly be the next step for the over 13,000 Brazilian startups that are already experiencing the maturation of the Brazilian market and have conditions to explore the international market.”
One piece of advice Ana gives to those wanting to do business beyond borders is to first research the country, taking into account the local market, which, in the case of Finland, has a strong presence in education and technology. “Keep in mind what you are looking for. Research existing companies to avoid competing with those already well-established, and finally, look for services that public agencies are offering to startup founders and international talents,” concludes the game designer.
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