What is SITRA?

SITRA is Finland’s innovation fund, and aims to increase the nation’s competitiveness on the world stage, ensuring well-being and prosperity for Finnish citizens. It operates independently from the government and brings together networks of legislators, researchers, businesses and NGOs to conduct trials, provide training and develop preconditions for reform.

Where have you heard about SITRA?

SITRA was founded in 1967 and is focused on building a better future for Finland through innovation. You may have seen results from its surveys mentioned in the news from time to time, however it isn’t widely known outside Finland.

What you need to know about SITRA.

SITRA is funded by profits made from an endowment donated by the Finnish parliament. The annual return of around €30 million is spent testing new operating models and generating new business activities with the aim of increasing well-being and prosperity for Finland.

Its work is split into three key themes:

• ‘Capacity for renewal’ examines how advances in technology are changing everyday life and how Finnish society can embrace this

• ‘Carbon-neutral circular economy’ addresses the overconsumption of fossil fuels and explores the emerging preference for utilising services and the sharing economy rather than owning things outright

• ‘New working life and sustainable economy’ studies the Finnish welfare society and the impact of changes in work