Innovation in young and older firms

Abstract

According to the analysis, the role of small young firms as drivers of innovation renewal in Finland’s business sector has clearly strengthened since the early 2010s. These companies invest proportionally the most in research and development and bring a significant number of new products and processes to the market. Large firms are also active, although their investments have declined in recent years. The level of innovation among medium-sized and older small firms is generally lower. Public RDI funding plays an important role for small young firms. The findings highlight the need to ensure a supportive environment for the creation, innovation and growth of young companies. This includes a strong higher education sector and well-functioning financial markets.

• ISSN: 2954-2618 (Online)
• ISBN: 978-952-209-226-7 (Online)
• Publication in PDF-format