Finland is gaining recognition for its thriving startup scene. The country is home to a growing number of promising companies across various industries.
Several key sectors are driving this rise, each contributing to Finland’s standing as a center of innovation.
With strong support structures, talented professionals, and an openness to new ideas, Finland’s startup ecosystem continues to expand.
This article explores the seven sectors leading this growth, showing how they help make Finland a startup success.
1. Gaming – Powering Finland’s Creative Economy
The gaming sector stands out as one of Finland’s most successful startup stories. With a rich history in game development and a community of skilled developers, the country has become a leader in this space.
A similar trend is seen on gambling platforms available in the country. Finnish Trustly casino is a perfect example that shows us how these companies should target players – with strong focus on fair play, high security, and transparency.
The industry thrives on creative talent and has produced companies that are pushing boundaries both locally and globally. Here are some of the best names driving Finland’s gaming scene forward:
GRX Game Studio
Founded in 2018 in Helsinki, GRX Game Studio is creating unique gaming experiences that cater to both casual and serious gamers.
Despite being relatively young, it has gained attention for its innovative game design, taking advantage of the booming indie market.
Noice
Noice, established in 2020, focuses on building interactive games that encourage collaboration and social engagement.
Noice is positioned as a leading force in community-based gaming. Their approach combines creativity with cutting-edge tech to deliver memorable experiences.
Yahaha Studios
Founded in 2021, Yahaha Studios has quickly risen to the forefront of Finland’s gaming industry.
With €105.22 million in funding, the company brings a vision of empowering creators to build their own virtual experiences.
Yahaha is pushing the boundaries of user-generated content, providing tools for aspiring developers to bring their ideas to life.
SnowGrains
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— SnowGrains (@_SnowGrains_) December 16, 2018
SnowGrains, based in Oulu, was launched in 2020 and aims to carve a niche in the gaming market with unique titles that focus on storytelling and atmospheric design.
The company prides itself on creating immersive, narrative-driven games that offer something different from mainstream releases.
2. Health & Medical Technology – Innovating Patient Care
Finland’s health technology startups are pioneering advances in patient care, using cutting-edge technology to address real-world health challenges.
These companies are making significant strides with solutions that improve diagnostics, monitoring, and overall health outcomes.
Hoiwa
Founded in 2020, Hoiwa from Espoo is making a difference with its innovative medical solutions.
It has attracted €9.02 million in funding, focusing on enhancing health monitoring systems that can be used both in hospitals and at home.
Aqsens Health
Aqsens Health, based in Turku, focuses on preventive healthcare through advanced diagnostics.
Although it did not report revenue in 2023, its innovative approaches aim to provide solutions that improve early detection and treatment, keeping healthcare costs low and outcomes high.
3. Food & Beverage Technology – Catering to Modern Consumers
Food technology startups in Finland are rethinking how food is sourced, delivered, and consumed.
Their success lies in a combination of sustainability, convenience, and innovative solutions.
Ruokaboksi
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Founded in 2017, Ruokaboksi from Helsinki has become well-known for its meal kits that prioritize fresh, locally sourced ingredients.
Ruokaboksi is changing the way Finnish households approach daily cooking.
Dagsmark Petfood
Dagsmark Petfood, based in Mellilä, is focused on providing quality pet nutrition with minimal environmental impact.
Their revenue of €12.6 million in 2023 showcases the growing market for sustainable pet food options in Finland.
4. Industrial Equipment – Powering Modern Manufacturing
The industrial equipment sector in Finland plays a crucial role in improving productivity and sustainability in manufacturing.
Finnish startups in this area focus on providing advanced tools for a changing world.
Deep Scan Tech
Founded in 2021 in Espoo, Deep Scan Tech specializes in industrial scanning technology that helps companies maximize efficiency and reduce costs.
With revenue reaching €235,637 in 2023, it is an emerging leader in industrial automation.
CH-Bioforce
CH-Bioforce, established in 2016, aims to create more sustainable processes for the industrial sector.
The company is committed to reducing the environmental footprint of manufacturing through innovative technologies.
5. SaaS/Business Software: Streamlining Operations
Finland’s SaaS startups are helping businesses become more efficient through user-friendly, powerful software solutions.
This sector is known for offering services that address everyday challenges faced by companies of all sizes.
Leadoo
Founded in Helsinki in 2018, Leadoo is making a mark by enhancing customer interaction through automation.
€8.2 million in funding is the best proof that Leadoo’s solutions are designed to help businesses streamline customer engagement and improve sales performance.
Hostaway
Hostaway, also based in Helsinki, is a leader in the SaaS space for property management.
Founded in 2015, it boasts €154.98 million in funding, offering comprehensive software that assists property owners in managing rentals more effectively.
6. Material Technology: Building a Sustainable Future
Material technology startups in Finland are contributing to a more sustainable future by creating innovative materials that are both functional and eco-friendly.
Sulapac
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Founded in 2016 in Helsinki, Sulapac is well-known for developing biodegradable alternatives to plastics.
With €18.19 million in funding and a revenue of €2.1 million in 2023, Sulapac is a front-runner in the fight against plastic pollution.
7. Wellness, Fitness & Sports: Promoting Healthier Lifestyles
The wellness and fitness sector in Finland focuses on developing tools that promote better health, fitness, and overall well-being. Startups in this area are making a global impact by addressing a range of health-related needs.
Zennis
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Founded in 2018, Zennis from Helsinki offers accessible fitness solutions that encourage physical activity through engaging formats.
In 2023, Zennis generated €317,400 in revenue, highlighting the growing demand for digital fitness products.
Eevia Health
Eevia Health, based in Seinäjoki, focuses on producing natural health products aimed at improving well-being.
Founded in 2017, Eevia Health achieved a revenue of €6.67 million in 2021, showcasing the potential of Finland’s natural health industry.
FAQs
How Do Startups Manage Growth While Keeping Costs Low?
Startups often rely on lean methodologies to manage growth effectively. By focusing on developing a minimum viable product (MVP) first, they minimize costs while collecting valuable feedback from early users. Affordable co-working spaces, remote teams, and bootstrapping are also commonly used to keep initial expenses under control.
What Role Do Mentorship Programs Play in the Success of Startups?
Mentorship programs provide startups with guidance from experienced industry professionals. Mentors offer valuable insights, help navigate strategic decisions, and provide critical networking opportunities. For many startups, access to the right mentor can make the difference between early failure and long-term success.
How Are Startups Adapting to Rapid Technological Changes?
Startups adapt to rapid technological change by keeping a strong focus on technology and innovation. They employ agile development methods, continuously learn new skills, and actively follow market trends to ensure their products remain relevant and competitive as industries evolve.
What Are the Key Factors Driving Team Collaboration in Startups?
Collaboration in startups is often fueled by flat organizational structures and open communication. This means team members have the freedom to share ideas and work without strict hierarchies, which fosters a sense of shared responsibility and increases productivity.
What Are the Main Challenges Startups Face When Expanding Internationally?
Expanding internationally presents challenges such as understanding new markets, managing different regulations, and building a local customer base. Startups must also navigate cultural differences and logistics, which require careful planning and adaptation to succeed in a global environment.
Last Words
The startup ecosystem in Finland is thriving thanks to a mix of innovation, community support, and sector-specific strengths.
From gaming to health technology, these key sectors are shaping the future of the Finnish economy, driving growth and showcasing the country’s ability to compete on a global scale.
