Space is king. Finland, a space nation, has satellites roaming the final frontier. Our nanosatellites help ships to navigate in harsh environments autonomously, provide data of crop fields and logging areas, and support the fight against climate change, all while being affordable. How was this achieved?

The rapid and fundamental development of technology has triggered a global revolution in the space industry. Publicly-funded national and international projects are no longer the industry standard. Private space infrastructure and commercial services are here to stay. Would you have thought that a Finnish university project would result in Finland’s first satellite? Smaller than a shoebox, but yet leaving an indelible mark on the industry. A new generation of space professionals has entered the stage in true startup spirit and wants to make business out in space.

And this is just the beginning. The New Space Economy program by Business Finland is opening more doors for startups, as well as for more established space companies looking for new markets. It is even drawing interest from companies that, just last year, could not fathom how space could contribute to their service portfolio. Indeed, the biggest impact of space activities is currently not up there but down here – in data and applications – which can improve our lives, here on earth, in countless ways.

I am truly convinced that New Space Economy is worth investing in, and Finland is testimony that a small nation can achieve great heights with focused and systematic work. Finland is a true down-to-earth space nation. This a good thing for both us Finns and also foreign players that want to benefit from an innovative ecosystem. You’re invited to Finland!

Read more about the New Space Economy program: www.businessfinland.fi/en/space

Watch Finns accelerating New Space Economy to light speed

Check out New Space Economy program video

About the Author

Markus Ranne is the Program Manager of the New Space Economy program at Business Finland. The New Space Economy program aims to benefit from the growth potential of international space business. The program offers funding, networks and internationalization services for developing global space business, and funds industry disrupting startups, growth-seeking manufacturing companies and businesses focused on data utilization.