Virtual and augmented reality to boost Finland’s competitiveness – Team Finland Mixed Reality campaign to be launched

Tekes 6.4.2017 8.48 | Published in English on 8.5.2017 at 15.00
Press release

Finnish companies should quickly tap into the growing virtual reality (VR) and augmented reality (AR) market. Team Finland Mixed Reality campaign offers funding, market knowledge and networks.

Currently worth approximately USD 5.5 billion dollars, the fast-growing VR/AR markets are estimated to amount to USD 150 billion in 2020. In the first stage, augmented reality is expected to generate major business volumes for companies.

"Finland has so much expertise in virtual and augmented reality that our export industry has no alternative but to seize this opportunity. There are no sectoral boundaries; VR/AR can be used for practically any purpose: learning how to operate a forest machine, construction, entertainment, education, vehicle remote control, and remote health care. You can walk inside a computer-modelled house before buying it, explore the ocean floor on a diving trip, say hello to the Pharaoh in history class, or learn how to drive a harvester. The full business potential of these technologies is beyond our imagination. The Team Finland network is building a VR/AR ecosystem that will attract the best talent and foreign investments to Finland. Finland should be the first thing that comes to mind when you want to purchase these solutions – and we will slap on a hefty price tag, too," says Pekka Sivonen, Director of Digitalisation at Tekes.

A total of EUR 30 million funding has been allocated to the Team Finland Mixed Reality campaign.

Aiming to the global number one

Mixed Reality campaign objectives:

  • Finland will establish the world's leading companies producing VR/AR technology and content.
  • Finnish companies will become global forerunners in exploiting AR/VR technology. Health care, for example, and all key industrial sectors will come on board in addition to games and entertainment.
  • The Finnish VR/AR ecosystem will be closely connected to other, major, corresponding ecosystems around the world.

The campaign will organise information sessions and promote corporate networking at the X Reality Day as part of the Arctic 15 event on 5 May 2017.

VR/AR ecosystem already being built in Finland

Gumi Inc., a Japanese gaming company, set up a Nordic VR Startups accelerator in Helsinki in March. It provides funding, business premises and mentoring to startups.

"We have incredibly talented people in the gaming and film industries in the Nordic countries, and with gumi Inc.'s assistance, these sectors now have more resources for growth. We are therefore expanding our successful VR Startup business accelerator to Helsinki, in cooperation with our partner Nordisk Film. The accelerator will drive the VR/AR ecosystem development in Finland and the other Nordic countries," says CEO Hironao Kunimitsu.

Get in touch!

Do you run a company that develops or uses VR/AR? If this is the first time you are in contact with Tekes, please use Team Finland's Test your idea service.

Click here to go to Team Finland's Test your idea service 

Under section "Other, please specify. (E.g. idea application or campaign)", enter MR campaign

If you already are a Tekes customer, get in touch with our experts directly.

Fee free to contact us for more information

Petri Rajahalme
Senior Adviser, Tekes
Tel. +358 50 5577 625
petri.rajahalme (at) tekes.fi

Tuomas Henttonen
Senior Adviser, Tekes
Tel. +358 50 5577 696
tuomas.henttonen (at) tekes.fi

Jani Jokitalo
Senior Adviser, Tekes
Tel. +358 50 3544 344
jani.jokitalo (at) tekes.fi

Read more about the Team Finland Mixed Reality campaign