New Busi­ness Finland’s health pro­gram opens up the glob­al mar­ket for dig­i­tal health com­pa­nies

Busi­ness Fin­land has launched a new health and well-being pro­gram, Health 360 Fin­land. The pro­gram will accel­er­ate the adop­tion of new dig­i­tal solu­tions to boost the health sec­tor and its exports. It will run until 2028 and fund research and devel­op­ment projects with €80 mil­lion. The program’s activ­i­ties will com­mence imme­di­ate­ly. A launch event for cus­tomers, stake­hold­ers, and the media will be held on August 28, 2024, in con­junc­tion with the Healthtech Export Day.

The Health 360 Fin­land pro­gram pro­motes the appli­ca­tion of new tech­nol­o­gy in the health sec­tor domes­ti­cal­ly and in the most promis­ing export mar­kets. It helps Finnish oper­a­tors to join inter­na­tion­al net­works and builds oppor­tu­ni­ties for Finnish com­pa­nies to meet investors and financiers.

The aim is that by the end of the pro­gram, the health sec­tor will have adopt­ed new tech­nolo­gies, new busi­ness mod­els, and tech­no­log­i­cal solu­tions to address labor short­ages. In addi­tion, new com­pa­nies from oth­er sec­tors have entered the health sec­tor. For exam­ple, com­pa­nies in the IT sec­tor have found the health sec­tor attrac­tive and have expand­ed their activ­i­ties in this sec­tor.

Through the pro­gram, the aim is also to shift the focus from dis­ease treat­ment to health­care. This will pro­vide new busi­ness oppor­tu­ni­ties for Finnish com­pa­nies and increase exports.

DATA FOR BROAD­ER AND MORE EFFI­CIENT USE

Fin­land col­lects a lot of health-relat­ed data. The Health 360 Fin­land pro­gram also pro­motes com­pa­nies’ use of this data in devel­op­ing new health solu­tions. There is sig­nif­i­cant demand, espe­cial­ly in Europe, for bet­ter uti­liza­tion of health data in the health sec­tor and in the devel­op­ment of new treat­ment meth­ods.

The health sec­tor is cur­rent­ly chal­lenged by issues such as an aging pop­u­la­tion, the con­tin­u­ous rise in health­care costs, and wors­en­ing work­force short­ages in health­care.

“The objec­tive of the Health 360 Fin­land pro­gram is to sup­port Finnish com­pa­nies in devel­op­ing and com­mer­cial­iz­ing inter­na­tion­al­ly com­pet­i­tive solu­tions that ease the bur­den on the health­care sec­tor”, sum­ma­rizes Outi Tuovi­la, the expert who led the program’s prepa­ra­tion at Busi­ness Fin­land.

The Health 360 Fin­land pro­gram sup­ports the goals of Busi­ness Finland’s Health­care Reimag­ined 2035 mis­sion, such as advanc­ing per­son­al­ized dig­i­tal health­care.

Read more about the Health 360 Fin­land pro­gram: https://www.businessfinland.fi/en/for-finnish-customers/services/programs/health-360-program

Con­tact per­son

Outi Tuovi­la
Ecosys­tem Man­ag­er
outi.tuovila (at) businessfinland.fi

Source: Busi­ness Fin­land