Growth strategy for research and innovation in the health sector

5/30/2014

The health sector is one of the world's fastest growing industries. Finland is extremely well placed to succeed in the sector and to be a leading country in well-being, health and renewed services.

Three ministries (the Ministry of Employment and the Economy, the Ministry of Social Affairs and Health, the Ministry of Education and Culture) with Tekes and the Academy of Finland announced the new strategy for growth on 26 May 2014, which was prepared in cooperation with major health sector players.

"The annual turnover in the health sector, i.e. health technology and the pharmaceuticals sector is already approaching five billion euros and the vast majority is exported. Finland has a great deal of knowledge and intellectual capital which means that world-class products and services can be produced using the latest technology," says Minister of Economic Affairs Jan Vapaavuori.

The strategy contains key recommendations for action research and innovation, as well for increasing investments and achieving economic growth in the health sector. The high levels of expertise and versatility as well as business acceleration will allow Finnish health care to have faster access to the latest research and means of treatment. In addition people will benefit from new ways of promoting health and well-being.

The recommendations are related to the development of research driven clusters surrounding the university hospitals, the effective national division of labour, developing the financial environment, market access for innovations, as well as launching the broad-based Team Finland Health cooperation initiative by acquiring foreign investment.

"For the first time the strategy examines the health sector from the perspective of innovation and business growth. Finland has a great deal of knowledge and intellectual capital, which means that world-class products and services can be produced using the latest technology," states Vapaavuori.

The ministries involved are jointly responsible for the implementation of the strategy. The ministries have also set up a cooperation group for taking further measures, which is also responsible for monitoring and evaluating the implementation of the strategy.

The Ministry of Employment and the Economy report 16/2014 "Health Sector Growth Strategy for Research and Innovation Activities" is available on the ministry's website at www.tem.fi/publications

Additional information

Petri Lehto, Head of Division, Ministry of Employment and the Economy, Tel. 02950 63218
Liisa-Maria Voipio-Pulkki, Director, Ministry of Social Affairs and Health, Tel. 02951 63382
Erja Heikkinen, Counsellor of Education, Ministry of Education and Culture, Tel. 02953 30101
Minna Hendolin, Executive Director, Tekes, Tel. 050 5577 665
Marja Makarow, Vice President, Academy of Finland, Tel. 02953 35002

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