AUGUST 20208 PropTechOutlookTEEMU HAATAJA, DIRECTOR, SECTOR HEAD OF REAL ESTATE AND CONSTRUCTION,&SARAH SIPILÄ, DIRECTOR, GLOBAL STRATEGY GROUP, KPMG FINLANDTHE FINNISH PROPTECH CLUSTER, A GLOBAL TESTBED FOR INNOVATION?W ith nearly 17 companies per million inhabitants, Finland has the highest concentration of proptech companies in Europe, according to Unissu (a global platform for proptech). How has this small Nordic country with a population of just 5.5 million people developed into a proptech cluster? As the birthplace of Nokia and global gaming leader Supercell, Finland is a hub for innovation and a promised land for engineers and coders. Key institutions such as Aalto University and VTT Technical Research Center of Finland Ltd drive R&D and have strong programs that encourage commercialization of innovation. Business Finland, a government-funded organization, promotes Finnish businesses abroad, works to attract investment to Finland, and finances innovation. In 2016, the Finnish government and key industry stakeholders launched Kiradigi to stimulate sustainable digitalization and innovation in the built environment. This project brought government representatives, municipal leaders, and industry companies together to drive change. In a larger country, involving all key decision makers might not have been possible, due to the sheer number of players involved. Between 2016 and 2018, Kiradigi channelled about 16 million Euros of public and private funding into the sector, including 130 different projects to stimulate innovation and create new businesses. Kiradigi will now continue as KiraHub, a non-profit funded by key industry organizations. Teemu HaatajaSarah SipiläIN MYOPINION
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