Focus on innovation

In October 2005, the World Economic Forum (WEF) rated Finland and the United States as the most competitive countries on the basis of statistical data and interviews of corporate executives. WEF states that Finland's particular strengths include the societal environment and the educational system.

In a comparison of EU cities carried out by the Stockholm-based Nordregio research institute under ESPON programme, Helsinki and Turku were the only Finnish cities included in the European mega-cities category.

Nevertheless, even the best must be able to renew continuously because permanent competitiveness factors do not exist. The new strategy of the City of Turku is based on knowledge, expertise, innovation and well-being. In implementing the strategy the City will particularly stresses the international competitiveness of the local leading edge businesses, availability of skilled labour, creation of an attractive environment for living and enterprising, as well as increasing foreign investments. The universities in Turku are currently preparing a new innovation strategy that will study the challenges related to the creation, financing and commercialisation of innovations. The new solutions emphasise co-operation between the universities, companies and the City, aimed at creativity and openness.

The business policy enterprises owned by the City of Turku, companies and public actors will be responsible for acquiring new investments in the strong lines of business in the area. Pilot Turku Oy is developing Turku's already strong logistics concentration and has been able to increase the foreign investments in the port and airport areas. One example of a unique benefit in transportation is the train-ferry connection to Russia and further to China via the Trans-Siberian railway. The port areas are also home to the outstanding know-how in maritime technology, especially in designing and manufacture of the biggest luxury cruise liners in the world.

Besides strong traditions, Turku boasts the strongest biotechnology concentration in the country, a future success field which has enjoyed substantial investments by the city. BioTurku is one of the two focal areas of Turku Science Park, and the other one is ICT Turku. The Science Park comprises a total of 30.000 university students, 400 professors, 300 companies and 13.500 employees. The key duties of Turku Science Park Oy include increasing international investments in the fields of biotechnology and ICT. Networking with other strong centres in the Baltic Sea area will be increasingly important while competing globally for the investments and top experts in these growth fields. The city of Turku and its citizens are confident about the future as part of the growing Baltic Sea economy.