Finland: nanotechnology is growing on private investment
In 2008, private investment in the development of nanotechnology exceeded public investment in Finland. Nanotechnology is widely used in all key sectors of Finnish industry. Such data is provided by the Spinverse Oy research company.
The subject of the Spinverse Oy study, conducted for the third time for the Finnish Agency for Technology and Innovation Financing Tekes, was the activities of companies engaged in the development and use of nanotechnology in Finland, their financing and problems. The study showed that currently 202 companies are active in the field of nanotechnology, while according to the results of the first study conducted in 2004, their number was equal to 61. Of the total number of enterprises operating in the industry, 65 companies already had their own commercial products or processes in 2008 (compared to 27 in 2004).
Most of the companies working with nanotechnology are enterprises of the chemical industry, information technology and healthcare. At the same time, the use of nanotechnology has increased in other key industries in Finland.
According to the study, nanotechnology has a positive economic impact on all key sectors of Finnish industry. The turnover in the nanotechnology industry exceeded 300 million euros in 2008, where the share of exports accounted for 60% of the revenues of the entire industry. As of 2008, almost 3,000 people are employed in the field of nanotechnology (compared to 300-400 in 2004). It is expected that in 2013 the turnover will grow to 1.2 billion euros and employment in the industry will average up to 11,000 – 12,000 people.
Private investment in the development of nanotechnology in 2008 for the first time exceeded the share of public investment. Public subsidies to the industry amounted to 38 million euros, industrial investments – 56.6 million, and venture investments – 9.5 million euros. Compared to 2006, investments increased by 33.6% and were distributed mainly in the chemical industry, information technology, as well as in the timber sector.
According to respondents, the main obstacles to the growth of business activity in the industry are the instability of financing, the lack of qualified personnel, as well as certain difficulties in the management of intellectual property.
"The internationalization of companies in the field of nanotechnology requires constant improvement of financing opportunities. According to the study, the output of products to international markets requires tens of millions of euros over the next two years. And in this situation, both public and private funding is needed," says Markku Lämsä, head of the Tekes FinNano program.
"In many key industries in Finland, after many years of purposeful work, there is a transition from research to the stage of commercial activity. The use of impressive research resources creates conditions for growth in the context of a global economic downturn and restructuring, as, for example, is already happening in the forestry industry. Companies engaged in the development and use of nanotechnology are an important source of economic growth, both in the conditions of today's economic downturn and in the long term," sums up the CEO of Spinverse Ltd Pekka Koponen (Pekka Koponen).
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10.02.2009