In addition to the parent company, VTT Group consists of four fully-owned subsidiaries:
- VTT Memsfab Ltd
- VTT Ventures Ltd
- VTT International Ltd
- VTT SenseWay Ltd
- VTT Holding Ltd.
In 2019, the Group’s turnover was EUR 147 million and its operating result was EUR 3.1 million. In 2019, the parent company had a total of 1,420 customers. Its domestic revenue accounted for 53% of its turnover and foreign revenue for 47% (at group level, the figures were 52% and 48%, respectively).
At the end of 2019, VTT had 2,103 employees. Finland’s national metrology institute and national standards laboratory MIKES is part of VTT.
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.
Innovation and business activities combine
Through scientific and technological means, VTT turns large global challenges into sustainable growth for businesses and society. All of VTT’s research is guided by the company’s lighthouse themes: climate action, resource sufficiency, good life, safety and security and industrial renewal.
VTT has more than 80 years of experience in cutting-edge research and science-based results. Our research, development and innovation activities are divided into three business areas: knowledge intensive products and services, smart industry and energy systems and bio and process technology.
At the core of our research in 2019 was the circular economy of plastics, which we expect will generate breakthrough innovations in the 2020s.
Ours extensive networks give customers and partners an access to the best knowledge worldwide
VTT is an active and recognised partner in many European research and innovation communities, having strategic cooperation agreements with top-rated universities, research institutes and companies. VTT’s public mandate and broad technology portfolio have created the basis for this participation.
VTT is also among the most active European research institutes participating in the European Union research programmes. Joint European programmes such as H2020, EIT, Euratom, Eureka and Nordic Programmes, form the core of VTT’s international research activities. In these competitive research projects, VTT develops solutions with other key players around the world.
Examples of European research alliances for VTT
• EARTO - European Association of Research and Technology Organisations
• EERA - The European Energy Research Alliance
• EIT Digital - European Institute of Innovation and Technology
• EIT Raw Materials - European Institute of Innovation and Technology
• EIT4Food - European Institute of Innovation and Technology
• EIT Manufacturing - European Institute of Innovation and Technology
• NUGENIA - Nuclear Generation II and III Association
VTT is active in industry-relevant Public Private Partnerships (PPPs) and numerous ETPs (European Technology Platforms). VTT is also involved in three Knowledge and Innovation Communities (KICs) of the European Institute of Innovation and Technology (EIT Digital, EIT Raw Materials, EIT Food and EIT Manufacturing), as well as the European Energy Research Alliance EERA. VTT works in close collaboration with industry and participates in projects that will boost the competitiveness and renewal of industrial value chains in Europe.
The common vision of European RTOs (research and technology organisations) is being promoted via active participation in EARTO.
VTT in PPP initiatives (H2020)
• Big Data
• Cyber Security
• FoF (Factory of the Future)
• SPIRE (Sustainable Process Industry and Resource Efficiency)
• EeB (Energy Efficient Building)
Joint Technology Initiatives / Joint Undertakings
• Electronic Components and Systems ECSEL
• Biobased Industries BBI
• Fuel Cells and Hydrogen FCH