The number of new startups identified in Finland rose by approximately 28% in 2024, reaching 331 compared with 258 the previous year, according to Business Finland.
The rebound ends several years of decline. For context, 587 startups were identified in 2016, meaning the longer-term trend remains downward even as the latest figures point to recovery. The data is compiled retrospectively among companies that received funding from Business Finland or angel investment from the Finnish Business Angels Network FiBAN, or participated in the Slush conference, matched to their year of establishment.
Business Finland senior director Marjo Ilmari noted that startups tend to invest heavily in research and development, producing high-value-added business and export potential, describing the upturn as an encouraging signal for the Finnish economy.
FiBAN managing director Tiina Laisi-Puheloinen highlighted the complementary role of private and public capital, pointing to FiBAN data showing that 75% of the roughly 1,600 Finnish companies that received angel investment between 2013 and 2025 also obtained funding from Business Finland. Angel investors provide capital, expertise and networks at early stages, while Business Finland absorbs part of the development risk before a product reaches the market.
Business Finland funded close to 700 startup projects in 2024 and 2025 combined. Two thirds of those projects have a strong focus on digital solutions, artificial intelligence and data analytics. Health and well-being solutions, as well as defence and security applications, also feature prominently in the funded portfolio.
Source: businessfinland.fi
