The member companies of the Finnish Startup Community are growing exponentially

The member companies of the Finnish Startup Community are growing exponentially
In connection with the establishment of the Finnish Startup Association, a target of EUR 10 billion was set for the combined turnover of the member companies. 35% of the 2030 target has already been reached.

The growth of the Finnish Startup Community (FSC) has been strong. The number of member companies has increased to 116 and there are dozens of membership applications in the queue. When the community was founded in 2020, there were one hundred members, including Supercell, Metacore, RELEX, Yousician, Supermetrics, Wolt, Aiven, Smartly, Blok, Unity, Sulapac, YES.VC, Inventure, Maki Ventures, and Lifeline Ventures.

* According to preliminary data, the combined turnover of the member companies of the Finnish Startup Community (FSC) was almost EUR 3.5 billion in 2021
* Net sales growth compared to 2020 was as high as 62 percent
* Growth is expected to remain strong in 2022
* The number of FSC member companies increased from 100 to 116 during the first year of operation

The social weight of FSC member companies is growing by leaps and bounds. According to preliminary data, the turnover of member companies was as high as EUR 3.5 billion in 2021. The growth from 2020 was as high as 62 per cent. “Most of the income of our member companies comes from exports, so the importance of startup companies to the Finnish economy is huge,” he recalls. Youssef ZadFSC economists.

Net sales data are based in part on figures reported by member companies. The missing findings have been replaced with 2020 data, so the growth figures presented in the release are cautious. Some of the data has been estimated based on the responses of the upcoming Startup Barometer.

“The growth of start-up companies is soaring at the moment. Our target of 10 billion for the turnover and exports of Finnish startups by 2030 is completely achievable, ”Youssef estimates. “I find it very realistic that the Finnish startup ecosystem will become at least as important a player as the Finnish forest and metal industry. In the longer term, it is likely that the ecosystem will become the most important cornerstone of Finland’s economic growth. ”

Successful startup companies bring new capital to Finland

The growth of start-up companies is usually really fast: over 60%. As some companies have already grown successfully, the overall growth is significant for the Finnish economy. Successful startup companies bring new capital to Finland, some of which is channeled to new startups.

“The start-up ecosystem is reaching a state where more mature startups can support the growth of younger companies by creating and attracting new skills to the Finnish labor market,” Zad estimates. “In addition, great growth stories encourage entrepreneurship, but attract more investors who believe in Finland’s ability to create new growth.”

Source: Finnish Startup Community

Source: The Nordic Page


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