Finland Times

 

An assessment in an international evaluation of Finnish Industry Investment has suggested strengthening of the role of Finnish Industry Investment Ltd. (Tesi) as a business environment developer, according to a government press release.

 

The press release of the ministry Employment and the Economy said the Tesi has had a significant impact on the development of the capital investment market and the emergence of investment funds in Finland In the time that it has been in operation.

 

According to a recent assessment, the dominant market position and considerable assets of Tesi should be utilised more efficiently than is now the case. This would promote the development and internationalisation of a commercial capital investment market that functions more efficiently than is currently the case.

 

The assessment in an international evaluation of Finnish Industry Investment was published on 9 January 2014.

 

Tesi has been influential especially in the growth in investments in the growth phase of companies, as its share of Finnish venture capital and growth financing is between 30 and 40 percent. According to the report, an increase in the target level of Tesi requires clarification and sharpening of ownership steering on the part of the Ministry of Employment and the Economy.

 

"The assessment by Tesi indicates how the company has worked convincingly in its own sector and established confidence in its activities. In a constantly changing world there is nevertheless a need for a player such as Tesi, which continues to take responsibility for the development of the entire Finnish capital market", said Economic Affairs minister Jan Vapaavuori.

 

The evaluation proposes that the setting of goals should be renewed and expanded within the current marginal terms in such a way that the activities would more clearly advance the development of the field of players in the private sector and the cultivation of its service know-how in capital investment activities. In setting targets, the goals of government's industrial and innovation policy should also be taken into consideration more comprehensively.

 

Focal points of Tesi should include the establishment of new fund players and the encouragement of private money onto the market. The company should seek, step by step, to replace public input with private money in order to bring the overgrown state share of the funding down to the level of countries that Finland is being compared to.