VAKE BUILDS A FUTURE-PROOF FINLAND
Finland faces challenging decades as global competition tightens and developing technologies are more and more central for creating value in the future. Digitalising environments accelerate the pace of change and challenges become more complex and global in nature.
However, Finland’s small size and agility can be strengths when utilised strategically. Significant opportunities arise for Finland and Finnish companies to emerge as global pioneers in fields where exceptional strengths, competitiveness and a special national interest already exist.
Finland can become Europe’s leader in artificial intelligence, digitalisation and platform economy where private operators can prosper, the public sector supports the creation of an innovative environment and where Finnish companies also attract foreign investors.
Vake Oy is a technology-focused Finnish state company for partners already in their growth stage. As a market-based limited company Vake has the possibility to operate as an active owner with a wide array of tools in both investment and development fields.
Vake in a nutshell:
State company, founded 2016
Operational from 2018
Company balance sheet 1.8 bn euros
Neste Oyj appr. 8.3%
Posti Group Oyj 49.9%
Altia Oyj appr. 36.2%
Nordic Morning Oyj 100%
Still to be transferred:
THEME-FOCUSED WITH FLEXIBLE ACTION
Vake’s operation is strongly driven by a vision of creating clear societal impact by focusing on the junction between future and technology – and anticipating the clear drivers of future competitiveness with focused and long-term investment in these themes. Thus, the Company strives to transform Finnish potential into growth, jobs and wellbeing.
Existing technologies and phenomena in a phase of rapid development, with potentially significant impact as well as with centred excellence in Finland can be chosen as Vake’s themes. The first chosen theme is artificial intelligence. In turn, themes are divided into programmes through which actions are guided.
Significant societal impact is achieved best with a holistic multidimensional toolset instead of siloed investment decisions. Vake operates with a wide array of operations, excluding direct state aid. The purpose of the Company is to, within its thematic focus areas, develop and speed up new business and enable the scale up of the most promising Finnish companies into global frontrunners in their fields.
Vake’s unique approach complements private and other state operators’ investment activities’ reach in building growth ecosystems and expertise, which in turn enable unique impact at a larger scale.
ACTIVE OWNER AND PARTNER
In addition to capital, Vake acts as an active owner with expertise especially in utilising the growth and business potential of future technologies.
Vake cooperates with frontrunner companies as well as other state entities within its themes. The Company has the possibility to act flexibly in situations and fields where it might be difficult for others to operate or there is a special national interest. Through its flexibility, Vake can maximise its ability to act, change and adapt to different situations in building a Finland of the future.