Business Finland launches a space business growth project

Business Finland has launched a two-year growth project for the space business. It will help Finnish companies connect more closely with European and international networks and encourage them to grow their business in the space sector. The project especially welcomes companies that are ready and willing to open up their networks and business in this growing field.

"Space is no longer just national space programmes, rockets or satellites," says Kari Klossner, who leads the project, in his blog post.

"It has quickly become a fast-growing global business area whose impact can already be seen in logistics, security, environmental monitoring, telecommunications, agriculture and data-driven services."

At the same time, the cost of space technology has fallen significantly and access to the market has become easier. Finland is exceptionally well placed for space technology development, with expertise in satellites, sensor technologies, software, data utilisation and new space services. Finnish companies have shown that world-class technology can be built from the north as well.

Even so, a great deal of potential remains untapped.

"Many promising companies need stronger international networks, new partnerships and support for commercialisation and growth. We also need more new companies, new applications and new business models that make use of space-based technology and data."

Business Finland's space growth project is a response to this need. Its goal is therefore the same as that of the SpacEconomy project.