“ …a change agent in society which is taking risk on behalf of the public and private sectors.”
Mikko Kosonen, President, Sitra
“Sitra is building a successful Finland for tomorrow’s world.”
£22.1 million (2012)1
Sitra estimates that its work on sustainable energy has led to around £1 billion in savings for the Finnish government.
Sitra is one of the oldest publically funded innovation organisations in the world. Half of its resources are spent on innovation programmes that incorporate research, with the other half spent on practical experiments and investments.
One Sitra project is From NIMBY (“not in my back yard”) to YIMBY (“yes in my back yard”),2 that explored how to increase community participation in shared decision-making, resulting in the development of Brickstarter, a crowdsourcing platform for citizen participation.
In terms of Sitra’s investment portfolio, in 2012 it included 32 companies across a range of sectors, from sustainable energy to biotechnology, all aiming to achieve substantial social impact along with a financial return. Investments include renewable energy companies, AW Energy, which is developing wave energy solutions; Savosolar, which works on solar energy; and biotech companies, such as FIT Biotech, which develop new vaccines.
Photo Credit: Sitra's Health Kiosk programme aims to increase access to healthcare in Finland. Photo courtesy of Patrick Rastenberg © Sitra