New Space Economy programme to accelerate Finland’s growth business

Demand is growing globally for space business knowhow. A new global phase is underway, with transformation of space industry actors, roles and methods. The goal of the New Space Economy programme is to take advantage of growth opportunities and highlight Finnish expertise internationally.

“Combining our world-class telecommunications expertise with space technology looks highly promising from the Finnish perspective. New business opportunities related to digitalisation have been identified as sources of growth. Tekes has long contributed to the Finnish research field and now is the right time to accelerate the growth of international business,” says Pekka Soini, Director General of Tekes.

The New Space Economy programme will help startups to renew the space sector and manufacturing companies to seek growth, as well as businesses that utilise data. The aim is to achieve significant results which have an impact on economic growth and employment via networks, and through new business models based on the space economy. The programme also aims to double the exports of participating companies by 2020, while achieving an annual turnover of at least EUR 600 million in services within the sector. The achievement of this objective will be supported by the European Space Agency (ESA) incubator to be started up in Otaniemi this autumn. In the coming years it will provide 50 growth-seeking, innovative companies with an excellent jumping off point for entering the international markets.

Space technology everywhere

According to a customer survey, 25% of Tekes’s customer companies make use of currently available space technology in support of their products, services or processes. This mainly involves the use of positioning data, satellite telecommunications and GPS signals. These companies account for 20% of Finnish exports. That is why the systematic development of Finnish space expertise among companies and research organisations is both important and profitable for Finland.

“Around 200 companies engaged in the manufacture and application of space technology have been identified. According to the interviewed companies, it would be possible to double the industry’s turnover by 2020. International investors are also interested in the manufacture and business application of drones and small satellites, which have evolved rapidly. This can be seen in the direct capital investments and increased number of acquisitions among startups funded by Tekes in recent years,” says Director Kimmo Kanto of Tekes.

“Tekes’ funding services, ranging from market analyses to product and service development all the way to large, European joint projects and internationalisation services, are available for innovative growth companies. The New Space Economy programme plays an important role in Business Finland, which will start next year. Through its activities, Business Finland will seek to meet the funding and internationalisation needs of companies, while building a new growth sector in Finland,” says Pekka Soini.

For further information, please contact

Kimmo Kanto
Tel. +358 2950 55852
kimmo.kanto (at)