What is VTT?
VTT is a forerunner in research, development and innovation, and one of Europe’s leading research organisations. We develop cutting-edge technologies and transform them into growth together with our customers and partners. Our solutions address the greatest challenges of our time while creating sustainable growth, jobs and wellbeing.
With more than 80 years of experience, we accelerate the journey from innovation to impact. By thinking beyond the obvious, we drive growth, renewal and resilience.
Our key figures*
309M
2,349
488
1,085
51%
646
*) The figures cover VTT Ltd and represent VTT's operations
See more key figures on VTT's administration page or in our Annual reports.
Our strategy
VTT’s strategy is to start and sustain chain reactions of positive impact. When research becomes commercial innovation, Finnish companies grow – and when Finnish companies grow, Finland grows.
We create technology that turns into new products, solutions, startups and even entire industries. Commercialisation is a way to ensure that research creates real value. Our work responds to the major challenges of our time, and we work closely with our customers to develop solutions that matter.
VTT’s funding
Of VTT’s total operating income approximately 33% is government grants, 41% jointly funded competitive public funding, and 27% from commercial activities.
Of the government grant for research (€100 million), about half is used as the self-financing share for public, jointly funded research projects (for example, EU, Business Finland, Academy of Finland, etc.). Public research and innovation activities create new expertise and develop technologies up to the demonstration and piloting phase.
About half of the government is used for activities financed entirely by the government grant. This ensures the development of expertise and strategic competencies and accelerates the utilization of VTT’s technologies, for example, through technology licensing and the creation of new companies.
Our business areas
VTT’s research, development and innovation activities are divided into two business areas in which we develop solutions for companies and society.
Further information:
Our impact
Working with VTT impacts our customers’ ability to create and scale up new, radical innovations and grow their business and international networks. In addition to impacting our customers, our efforts have a wider impact on society. Our research and development targets to build a more sustainable world.
Our corporate governance
VTT is a limited liability company that is fully owned by the Finnish state and operates under the ownership steering of the Ministry of Economic Affairs and Employment.
The annual general meeting is the highest decision making body of VTT Technical Research Centre of Finland Ltd.
VTT Board oversees the implementation of the company’s strategy and is responsible for the profitability of operations.
Executive leadership team supports the CEO in decision-making.
Our values and ethical norms
The values and ethical norms that guide our work:
Values
Courage | Agility | Collaboration | Accountability
Ethical norms
Impartiality | Credibility | Integrity | Responsibility
Our sustainability
VTT’s core mission is to develop sustainable solutions for our customers and for society. We seek sustainable solutions to major social challenges with our customers and partners. We take the principles of sustainable development into account in all our research and service activities, reporting and internal operations.
Our societal role
By its public mandate, VTT has a strong societal role. We engage in active cooperation between stakeholders (companies, universities and colleges, research institutes, research funding agencies, ministries, municipal and regional administration) in order to foster regular information flows and a common vision of Finland’s priority areas. We work in close collaboration with industry and highlights the renewal of industrial value chains and sustainable competitiveness in Finland and Europe.
Furthermore, we support public decision making by providing scientific studies and calculations for authorities. We also facilitate public sector to understand the innovation needs of different industrial sectors. Our research and innovation actions bring value broadly to Finnish society and industry.
Our history
VTT was founded in wartime Finland in 1942. Our 80-year journey from the 1940s to the present day shows that science, technology and cooperation can turn even major societal challenges into opportunities for growth.
