Through the Valley of Death – How can Finland grow?
"Through the Valley of Death – How can Finland grow?" is a factbased review of the growth potential of the Finnish economy undertaken by VTT Technical Research Centre of Finland. It combines currently available information with data from national and international sources.
The viewpoints are intended to spark discussion and spur concrete action. In particular, we examine the role of technology-based growth sectors, industrial renewal, and startups and deep tech companies as drivers of economic growth. The report is published on 24 October, 2025.
Finland is going through a major structural change, and we have the combined benefit of companies with growth-potential, and a maturing startup field – now we need to accelerate bold renewal.
Laura Juvonen, Chief Strategy Officer, VTT Technical Research Centre of Finland
The Finnish economy will only turn for the better if the total factor productivity increases, i.e. more or higher value-added production can be achieved with the same resources. Renewal occurs through research and the development
and utilisation of new technologies. Companies and Finnish decision-makers need the will to pursue growth – not to mention courage, determination and perseverance to make a turnaround.
The development of new solutions and innovations requires crossing the valley of death, a strong foundation of competence, and a predictable and innovation-friendly operating environment. Private R&D investments are on the rise, and now it is important for Finland to demonstrate its commitment to long-term R&D investments.