Finnish innovation in India

Source: Tekes. Finnish funding innovation in India.
Finnish innovation funding agency, Tekes, will support compatriot companies’ participation in the Indian market by funding innovative initiatives, its director Kari Hiltunen has said.

The 35-year old agency is in discussions for funding Finnish companies’ innovative approaches for the Indian market in collaboration with Global Innovation and Technology Alliance (GITA) of the Science and Technology Ministry in New Delhi.

“Tekes is also in discussions with Finnish companies, GITA and authorities to collaborate with Indian Universities on market research on new business opportunities,” said Hiltunen.

The Tekes-GITA collaboration is for joint projects for developing products and solutions and will be launched in the coming months.

“These initiatives are to develop products, solutions and even support our companies adapting to the Indian market,” he said, adding that “adapting to a new market condition is also considered as an innovation”.

Tekes will finance up to 70 per cent of Finnish companies’ funding cost for commissioning market studies, and, or to acquire market research work from the Indian universities. These market insights will help the Finnish companies establish in India.

Likewise, GITA is also expected to finance cost of Indian companies in the collaboration.

Hiltunen also sees an increasing role for his country’s small but efficient companies in corporate India.

“Our companies are advanced technology providers and are in a position to provide solutions covering healthcare, well-being, environment, and help manage corporate social responsibility issues for major Indian companies.

“We can bring into India hi-tech solution providers and open data companies as we view India as our strategic market,” said Hiltunen, pointing out that Finland has 140 years of innovation history.

Tekes also has plans for India’s Smart Cities initiative.

“There are opportunities for Finnish companies to offer platforms for launching e-health, e-learning, e-traffic solutions, clean-tech solutions and managing environment as well as pollution controls in the Smart Cities initiative,” said Hiltunen who was in Singapore recently.

The Smart Cities initiative is an excellent platform for India to adopt these technologically-led advanced and efficient programmes.

He cited Tekes-supported Finnish programme, “Beautiful Beijing”, which among other initiatives continues to study air quality, do research & development work on pollution from construction sites, traffic flows, energy plants and other industries in China.

The “Beautiful Beijing”, a name kept for its attractive appeal, began in the Chinese capital city several years ago and is now used across many major cities.

“We have a basic model in “Beautiful Beijing”, and will want to adapt it to India’s Smart Cities development,” he said, adding that Indian cities, like those in China, face same environmental challenges.

Hiltunen, who leads business development of Finnish companies, underlined the importance of the Indian market for Finland, and stressed that India, progressing with its massive developments, will require the support of international expertise.

“Tekes is among the world’s first innovation funding agencies with experience of financing companies nurturing new innovations, technologies, know-how and expertise,” he pointed out.

“We educate our younger generation from the early stage, helping them to be innovative in life. This makes them the foundation of our innovation,” he explained.

Tekes, which though provide partial financing for innovation companies, has “very stringent” procedures.

“Tekes rating has become a benchmark in financing innovations and projects from other financial institutions,” highlighted Hiltunen.

“At Tekes, we rate companies that have a long-lasting contribution to the Finnish economy,” he added.

Innovation cooperation in India

Tekes works as a part of the Team Finland network promoting research, development and innovation cooperation between companies and research groups in India.

Tekes also facilitates international business operations and investments in Finland and helps to understand innovation signals and market changes in the region.

Areas of innovation cooperation between Tekes and Indian partners

Many Tekes Programmes promote cooperation with Finnish and Indian companies and research groups.

These are: Health and wellbeing; Health India; Cleantech; Green Growth Programme; Groove Programme; Learning solutions; Learning Solutions Programme; Smart Cities; Witty City Programme; BioIT Programme; Frugal innovation; Digitalisation;  and Partner organisations in India.

Tekes has an collaboration agreement with the Indian Ministry of Science and Technology. Tekes and the Ministry’s Department of Biotechnology (DBT) have opened funding calls for companies and research organisations in the area of health and well-being. The latest application round closed in January 2014.

Tekes and the Department of Science and Technology (DST), the Indian government have agreed on promoting Indo-Finnish technology R&D and innovation cooperation through the Global Innovation and Technology Alliance (GITA) by jointly funding R&D projects.

The areas of cooperation are: Cleantech, especially waste management, clean water and energy efficiency; Smart cities; Affordable health solutions for elderly and differently abled. fii-news.com