Is Finland a Good Place to Launch a Startup?

Where you start your company still matters – but sticking too closely to one location might limit what you’re able to build. In today’s startup landscape, geography shapes your path – but it doesn’t have to define your potential.

Finland has emerged as a strong hub for entrepreneurship, offering access to funding, talent, and infrastructure. But with growing competition, rigid local programmes, and support often reserved for the most polished startups, relying solely on what’s nearby can slow you down – or hold you back.

In this article, we’ll explore what Finland gets right – and where founders often run into friction. We’ll also show how EWOR offers an alternative: a global, remote-first platform that gives you access to funding, mentorship, and community – no matter where you’re based.

1. Access to Funding in Finland

Funding is one of the most critical ingredients in building a successful startup – and Finland offers a growing ecosystem of support. From venture capital firms to government grants and angel investors, founders in this region have several pathways to raise capital and gain early traction.

Finland's early-stage startup funding environment is active, supported by a network of investors and government initiatives. Notable VC firms include Lifeline Ventures, Maki.vc, and Superhero Capital, which are active in pre-seed and seed rounds. The Finnish Business Angels Network (FiBAN) is one of Europe's largest and most active angel networks, with over 650 members who invested €31.5 million in Finnish startups in 2024. Government support is also significant, with Business Finland offering various funding programs for R&D and international growth, including grants up to €1M for young innovative companies. Despite a 56% increase in total startup investments in Finland in 2024, reaching €1.4 billion, largely driven by foreign capital and a few large rounds, challenges persist. A key issue is the lack of larger domestic growth-stage funds, creating a follow-on financing gap as companies scale and often leading to successful companies coming under foreign ownership. While early-stage funding remains robust, the number of startups receiving angel funding decreased in 2024 compared to 2023, although the average investment size increased. Access to funding is also cited by startups as a significant barrier to growth.

A More Flexible Path Forward

In the wake of these challenges, founders don’t have to rely solely on local funding options. EWOR offers a more flexible path – providing up to €500,000 in early-stage capital But EWOR is more than a cheque. Our capital comes bundled with personalised support, investor-ready storytelling, and access to a network of over 400 active European investors – many of whom regularly participate in our Grand Pitch events. On average, EWOR fellows who complete the programme and pitch go on to raise €2 million in follow-on funding – over 10x more than founders from comparable European initiatives.

2. Innovation and Startup Culture  

Finland has become a centre of innovation, with numerous tech hubs, coworking spaces, and accelerators that foster creativity and new ideas. The local startup culture is vibrant, with a growing community of entrepreneurs working together to push the boundaries of what’s possible.

Finland has a thriving startup and innovation culture, ranking among the top globally. The ecosystem is characterized by a strong sense of collaboration and a transparent business culture. Coworking spaces are prevalent across Finland, particularly in hubs like Helsinki, Espoo, Oulu, Tampere, and Turku, offering flexible workspaces and networking opportunities. Numerous tech events and conferences, such as Slush and Arctic15, are held annually, attracting international attention and providing platforms for networking, knowledge sharing, and investment. Entrepreneurial activity is significant, with a notable number of startups, particularly in gaming, health tech, clean tech, and ICT. The government, through agencies like Business Finland, provides substantial support, including funding, resources, and internationalization assistance. While there are standardized programs, there is also a focus on supporting early-stage founders, with initiatives offering tailored coaching, mentoring, and even free workspace for idea-stage startups. The ecosystem supports both early-stage and more mature startups, with a growing emphasis on attracting international founders.

For many entrepreneurs, the energy and resources available in Finland can provide the ideal environment to test new ideas and gain early traction. The collaborative atmosphere allows founders to connect with fellow innovators and build networks that can help their startups grow.

While the local startup culture is vibrant, the support founders actually receive can be hit or miss. VCs might offer funding but little time. Angel investors often give advice, but it’s scattered and inconsistent. What’s more, many accelerators rely on a one-size-fits-all model that doesn’t reflect the needs of exceptional founders. In fast-moving, competitive ecosystems like Finland, standing out is hard enough – getting the right kind of support shouldn’t be.

The Alternative to Cookie-Cutter Programmes

Finding a programme that truly adapts to your journey, not the other way around, is rare. However, EWOR offers the kind of depth and flexibility that many local programmes simply can’t match. Instead of following a fixed curriculum, our fellowships are modular and tailored – giving you the right support at the right time, based on where you are in your journey.

But the real strength of EWOR goes beyond structure. Fellows often describe the community as the most unexpected – and valuable – part of the experience. As some have put it: “The real magic lies in the community: the kind of conversations, insights, and connections that lead not only to breakthroughs – but to lasting friendships with some of the most fascinating people they’ve ever met”.

3. Talent and Workforce Availability

One of the greatest assets of launching a startup in Finland is access to a skilled and diverse talent pool. With universities producing top-tier graduates in technology, business, and other fields, startups can tap into a wealth of expertise to help grow their teams.

Finland offers a strong talent pool for startups, supported by its excellent education system. Universities across the country contribute to a highly educated and tech-savvy population. Key industry-specific skills available include expertise in ICT, digitalization, gaming, clean technologies, health and wellbeing, AI, 5G, cybersecurity, and cloud computing. Local talent supports entrepreneurial growth through a culture of innovation, collaboration between universities and startups, and a supportive ecosystem with incubators and accelerators. Government initiatives also aim to attract and retain international talent.

Like funding, competition for talent can be fierce, especially for highly specialised roles in fields like software development or AI. For startups looking to scale quickly, hiring the right people at the right time can be a challenge, leading some founders to look outside the region for remote talent solutions.

Get Global While Local

While hiring locally in Finland can be competitive and slow, EWOR gives you instant access to a global network of exceptional talent. Built by founders for founders, the EWOR team has launched and exited companies worth over €12 billion – and they bring that experience directly into your venture. It's not just about funding or surface-level advice; it's akin to having a co-founder from day one. 

The team collaborates closely with you to refine your idea, challenge your thinking, and support you through real-world decisions – just like a hands-on partner would. Moreover, with EWOR’s exclusive co-founder pool, you can find the right person to build with, regardless of their location.

4. Infrastructure and Support Systems

Finland boasts a strong infrastructure that supports the growth of new businesses. From modern office spaces to high-speed internet, entrepreneurs have access to everything they need to run their startups smoothly. Government policies may also provide tax breaks, legal support, and other incentives that make starting a business more attractive in this region.

Finland offers a robust ecosystem for startups, featuring world-class technology infrastructure and a highly educated workforce. Support systems include a vibrant network of accelerators and incubators like Kiuas and Maria 01, providing mentoring and resources. The government plays a significant role through initiatives led by Business Finland, offering grants, loans, and internationalization support. They also provide a Startup Permit for non-EU entrepreneurs and a startup grant for early-stage businesses. This comprehensive support, including funding and a collaborative environment, helps businesses thrive and scale globally.

But what looks good on paper often proves more complicated in practice. Bureaucracy can be time-consuming and opaque, especially for first-time founders unfamiliar with local laws. Incorporation takes longer than expected. Accessing public funding often means navigating slow processes, strict requirements, or hard-to-reach advisors. And operational costs – from accounting to regulatory compliance – can quickly eat into early budgets. 

A System That Moves With You

With access to expert guidance, practical legal resources, and a network of experienced entrepreneurs who’ve built across a range of regulatory systems, EWOR is well positioned to help founders navigate the bureaucratic and legal complexities that often come with building in Finland. Instead of wasting time figuring things out alone, you’ll have the tools and support to stay focused on what matters most – growing your venture.

And while we’re remote-first, our support is anything but distant. Through in-person gatherings like the EWOR House, city-based meetups, and our twice-yearly Grand Pitch event, you’ll still build meaningful relationships with investors, peers, and mentors. It’s a system that helps you focus on building – not just dealing with paperwork.

Can Finland Be Considered the Best Place to Launch a Startup?

There’s no doubt that Finland provides a vibrant environment for startups, with access to funding, innovation, talent, and infrastructure that can help entrepreneurs build successful businesses. For many, it’s a strong contender for the best place to launch a startup, thanks to its growing entrepreneurial ecosystem and support systems.

Entrepreneurs launching startups in Finland face several challenges. Competition can be intense, particularly in tech sectors where Finland has a strong presence. The cost of living and high labor costs, including substantial salaries for skilled workers, increase operational expenses. Regulatory hurdles and bureaucracy, along with the duration of business operation processes and labor market inflexibility, can also pose difficulties. Additionally, navigating a relatively small domestic market often necessitates early international expansion, requiring extra resources.

However, it’s important to remember that the location of a startup is no longer the be-all and end-all. In today’s digital age, location-independent options like EWOR allow entrepreneurs to access world-class mentorship, funding, and resources from anywhere in the world. Whether you’re based in Finland or elsewhere, EWOR’s remote programmes are designed to support founders no matter where they are located.

So, while Finland offers significant advantages, it’s worth considering options like EWOR that enable you to launch and scale your startup with global support – whether you’re in the heart of a bustling startup hub or working from a quiet corner of the world.

Image credits: by Andreas Brücker on Unsplash