Latest news with #BusinessFinland
Time of India
a day ago
- Business
- Time of India
Finland backs space tech ICEYE firm with R&D funding
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Finland's business promotion agency has granted research and development funding to satellite and defence technology company ICEYE , the two entities said on Thursday, in what marks another step in European efforts to support the booming owned ICEYE has grown rapidly in recent years and says its fleet of 48 Synthetic Aperture Radar satellites providing near real-time imaging is now the largest, counting Ukraine, NATO and Japan among its agency, Business Finland , said it has assigned 41.1 million euros ($47.2 million) to the Finland-based company's 250-million-euro ($287 million) investment programme to strengthen its position as a global pioneer in space and defence technology."It will strengthen the entire space and defence sector and have a wide-ranging positive impact across the whole ecosystem," head of Business Finland Lassi Noponen said in a the Ukraine war raging next to its borders and global security threats on the rise, the European Union has embarked on a 800 billion euro programme to shore up its defence, with tech startups expected to play a significant satellite constellation works by bouncing a radar beam off the surface of the Earth from approximately 550 km (342 miles) in space to build a detailed picture of the ground, regardless of weather conditions or daylight, the company said."We have clearly ended up being in the right place at the right time with this technology. There is a great need to develop such sovereign capability," ICEYE chief of strategy Pekka Laurila addition to data, ICEYE also sells radar imaging satellites, as many countries are increasingly keen on having their own capacity to be able to monitor around the clock what happens on the CEO Rafal Modrzewski said the increased interest in space was driven both by technological advances and the Ukraine war that highlighted the importance of satellite technologies."This technology will be critical for national security," he told Reuters in a recent 250 million-euro investment programme will allow it to expand its satellite manufacturing capabilities, develop new sensors and upgrade its satellite platforms, the company said.
Reuters
a day ago
- Business
- Reuters
Finland backs space tech ICEYE firm with R&D funding
HELSINKI, June 19 (Reuters) - Finland's business promotion agency has granted research and development funding to satellite and defence technology company ICEYE, the two entities said on Thursday, in what marks another step in European efforts to support the booming sector. Privately owned ICEYE has grown rapidly in recent years and says its fleet of 48 Synthetic Aperture Radar satellites providing near real-time imaging is now the largest, counting Ukraine, NATO and Japan among its customers. Government agency, Business Finland, said it has assigned 41.1 million euros ($47.2 million) to the Finland-based company's 250-million-euro ($287 million) investment programme to strengthen its position as a global pioneer in space and defence technology. "It will strengthen the entire space and defence sector and have a wide-ranging positive impact across the whole ecosystem," head of Business Finland Lassi Noponen said in a statement. With the Ukraine war raging next to its borders and global security threats on the rise, the European Union has embarked on a 800 billion euro programme to shore up its defence, with tech startups expected to play a significant role. ICEYE's satellite constellation works by bouncing a radar beam off the surface of the Earth from approximately 550 km (342 miles) in space to build a detailed picture of the ground, regardless of weather conditions or daylight, the company said. "We have clearly ended up being in the right place at the right time with this technology. There is a great need to develop such sovereign capability," ICEYE chief of strategy Pekka Laurila said. In addition to data, ICEYE also sells radar imaging satellites, as many countries are increasingly keen on having their own capacity to be able to monitor around the clock what happens on the globe. ICEYE's CEO Rafal Modrzewski said the increased interest in space was driven both by technological advances and the Ukraine war that highlighted the importance of satellite technologies. "This technology will be critical for national security," he told Reuters in a recent interview. The 250 million-euro investment programme will allow it to expand its satellite manufacturing capabilities, develop new sensors and upgrade its satellite platforms, the company said. ($1 = 0.8712 euros)
Globe and Mail
11-06-2025
- Business
- Globe and Mail
Exolyt Receives Prestigious Young Innovative Company Funding from Business Finland to Accelerate Global Expansion
AI-powered social intelligence platform recognized as one of Finland's most promising high-growth startups with global potential. Exolyt, an AI-powered social intelligence platform focused on TikTok and short-form video analytics, has been awarded Young Innovative Company (NIY) funding by Business Finland, the country's lead public body for innovation financing. The recognition positions Exolyt among Finland's leading high-growth startups and marks a key step in its international growth strategy. The NIY program is designed to speed up the global scaling of startups that exhibit strong innovation and commercial potential. With this new funding, Exolyt will continue developing its AI analytics platform, expand its international team, and pursue entry into additional global markets. 'Receiving NIY funding from Business Finland is a significant milestone,' said Henri Malkki, CEO and co-founder of Exolyt. 'It affirms the strength of our technology and supports our mission to redefine how businesses understand and act on short-form video trends.' The support from Business Finland will be central to Exolyt's expansion efforts, particularly in adapting its platform for global users. The company aims to strengthen its value proposition for international brands, marketing agencies, and research institutions interested in advanced digital consumer insights and real-time social listening. 'With this funding, we'll scale our talented team, enhance product features for international markets, and broaden our global presence,' Malkki said. Exolyt is one of the few platforms solely dedicated to TikTok and the broader short-video content space. Its analytics engine enables clients to track and interpret user engagement, behavior shifts, and content patterns across millions of videos and creators. These tools help companies stay ahead of emerging trends in a fast-moving media landscape. The NIY grant reinforces Exolyt's trajectory as a startup with scalable technology and clear international relevance. In addition to product enhancements and team growth, the company is currently in discussions with international venture capital firms as part of its long-term startup funding roadmap. 'We're also in active conversations with global investors who see the potential of our platform to lead the market in short-video social intelligence,' Malkki added. Business Finland's NIY initiative targets startups prepared to scale operations and build global competitiveness. Candidates undergo a rigorous evaluation based on innovation, scalability, and market readiness. With the backing of Business Finland, Exolyt is positioned to strengthen its role as a strategic partner to brands seeking sharper digital consumer insights in the rapidly evolving short-form video ecosystem. For more information, visit Media Contact Company Name: Exolyt Contact Person: Henri Malkki Email: Send Email Country: Finland Website:
Yahoo
27-03-2025
- Business
- Yahoo
Kalmar launches five-year Move2Green program funded by Business Finland to develop low-emission and intelligent material handling solutions
KALMAR CORPORATION, PRESS RELEASE, 27 MARCH 2025 AT 11.00 AM (EET) Kalmar launches five-year Move2Green program funded by Business Finland to develop low-emission and intelligent material handling solutions Kalmar launched a five-year Move2Green R&D program and has been granted EUR 20 million funding from Business Finland Leading Company Competition. The goal of the Move2Green program led by Kalmar is to advance carbon neutrality in heavy material handling by developing the electric equipment portfolio and data-driven services. The vision of the program is to enable our customers' net-zero logistics chain in ports, terminals, and other heavy industrial logistics by 2045. Building an ecosystem for the green transition 'Heavy material handling is a significant source of carbon dioxide emissions, and we have a unique opportunity to reduce the environmental impact caused by the use of our active installed base of 68,000 machines. The demand for electric equipment is growing, and our customers are increasingly seeking sustainable solutions. To ensure success, we need a broad ecosystem to develop intelligent charging solutions, software and equipment to accelerate this transformation", says Sami Niiranen, President and CEO of Kalmar. The Move2Green program brings together over 150 ecosystem partners, including industrial organizations, technology companies, research institutions, and universities. The goal of this collaboration is to initiate and lead large-scale research and development projects, increase research and development investments and to build solutions that enhance the efficiency in heavy material handling operations and support its transition to a low-carbon future. During the five-year program, Kalmar is committed to increasing its research and development efforts. The ecosystem will facilitate collaboration between large and small and medium-sized companies, and in the long term, the project is expected to have a significant employment impact within the research, development, and innovation ecosystem. Towards globally sustainable material handling Move2Green marks a significant step toward low-emission and intelligent material handling. In collaboration with Business Finland and ecosystem partners, Kalmar is developing technologies that promote global sustainability. The project offers a unique opportunity for innovative research and development, accelerating the green and digital transition in Finland. Additionally, the Move2Green initiative aims to develop clean energy solutions and new business models centered around circular economy principles and lifecycle thinking. Through Leading company challenge competitions, Business Finland seeks research and development projects for funding from companies that operate globally or aim for global operations. These projects should tackle major future challenges and make a significant impact on Finland's competitiveness. Leading companies are expected to significantly increase their R&D activities in Finland and build ecosystems aimed at new business ventures. In addition to funding the leading company's projects, Business Finland also offers funding for R&D projects from partners within leading companies' ecosystem. Further information for the press: Tommi Pettersson, SVP Strategy, Sustainability and Technology, tel. +358 40 755 6135, Maija Eklöf, Vice President, Marketing and Communications, Dealer Management and Customer Insight, Kalmar, tel. +358 20 777 4096, Kalmar (Nasdaq Helsinki: KALMAR) is moving goods in critical supply chains around the world, with the vision to be the forerunner in sustainable material handling equipment and services. The company offers a wide range of industry shaping heavy material handling equipment and services to ports and terminals, distribution centres, manufacturing and heavy logistics. Headquartered in Helsinki, Finland, Kalmar operates globally in over 120 countries and employs approximately 5,200 people. In 2024, the company's sales totalled approximately EUR 1.7 billion. in to access your portfolio
Yahoo
20-03-2025
- Business
- Yahoo
On the International Day of Happiness, Finland Calls for International Business Cooperation to Solve Major Global Challenges Together
HELSINKI, March 20, 2025--(BUSINESS WIRE)--Societal stability, high levels of equality and, among other things, political and civil freedom are frequently highlighted as the key factors contributing to Finland's status as the world's happiest country in recent years, as reflected in the World Happiness Report. These are the building blocks of the trust and mutual respect that permeate Finnish society, enabling innovative international cooperation and providing an excellent launchpad for business. In Finnish society, there are many factors that underscore succeeding together: an education system that emphasizes teamwork and collective problem-solving, flat hierarchies in organizations and a society that encourages participation, a culture that values consensus and cooperation over individual competition, and social safety nets that provide security, allowing for risk-taking. This creates an environment where it is safe to engage in innovation and seize the opportunities life offers. Collaboration is the power to change the world The strong collaboration between the public and private sectors forms the backbone of Finland's innovation economy. Industries, research institutes, universities, and the government together have a unique ability to deliver disruptive technologies and innovative design. Finland consistently ranks among the world's leading countries in education, innovation, digitalization, sustainability, and good governance, making it one of the world's hotspots for R&D. To give it a further boost, Finland aims to increase research and development expenditure to 4% of GDP by 2030. Finland boasts a thriving startup scene with an estimated number of 3 800 startups. The Finnish startup ecosystem has always been about pooling resources, lending a hand, and helping one another. When one business is successful, it benefits the whole network – a rising tide lifts all boats. Finland's startup ecosystem has given birth to more than 10 unicorns, many of which stem from academia. An example of open-minded cooperation in building R&D is the Leading Companies Program. Here, Business Finland challenges global companies to undertake ambitious research efforts while encouraging companies of different sizes and other players to work together, sharing knowledge and resources, aiming to achieve breakthroughs that solve major global challenges – and do business. So far, the scheme has supported 400 companies in Finland and 400 research projects by universities and other research institutes. The Leading Companies Program is open to international companies that have a subsidiary in Finland. Finland invites you to innovate in the state of happiness Collaboration with Finns is defined by sisu – a uniquely Finnish concept of integrity-driven determination and courage under pressure. It means acting with deep resolve while upholding a strong commitment to mutual respect among collaborators. Promises are kept, and things are done well even when no one is watching. Johanna Jäkälä, Executive Director, Finland Promotion Services from Business Finland says: "Collaboration, along with sisu, is really in the DNA of Finland. No one creates change alone, and that is why we are committed to bringing people and businesses together to team up, make unexpected connections, solve problems together, and create an impact." For the 8th year in a row, Finland has been named the happiest country in the world by the annual United Nations World Happiness Report*, holding the top title since 2018. ABOUT Business Finland is the Finnish government organization for innovation funding and trade, travel, and investment promotion. Business Finland's over 760 experts work in over 40 offices globally and in 16 regional offices around Finland. Business Finland is part of the Team Finland network. Invest in Finland helps foreign companies identify business opportunities in Finland, produces information on Finland as an investment destination, and enhances and coordinates national efforts to attract investment by actively networking with regional and international entities. Invest in Finland also collects and updates information about foreign-owned companies in Finland. Invest in Finland is part of Business Finland. Work in Finland attracts talents and startup founders to Finland and help companies to recruit international professionals. is a national website for talent attraction. View source version on Contacts MEDIA CONTACT Salla Salovaara, Head of International PR and Media, Business Finland, +358 40 526 0100, Sign in to access your portfolio
