Finland establishes innovation centre in China

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The Finnish government intends to set up an innovation centre in China. With a planned EUR one million addition to this year's budget for the purpose, the FinChi Innovation Centre is scheduled to open in Shanghai in the spring of 2005.
      The objective of the centre is to give incentives to attract Chinese firms to invest in Finland.
      "We're taking advantage of the so-called China syndrome, China's rapid economic growth, the Chinese companies' know-how, and their aspiration to go international", says the Ministry of Trade and Industry Director General, Timo Kekkonen.
      According to Kekkonen, in the Shanghai region there is a wealth of aspiring Chinese companies that could potentially form successful partnerships with Finnish firms.
     
In addition to the Finnish government, a group of small and medium size firms, mainly from the IT and biotechnology fields, are taking part in setting up the centre.
      The Ministry of Trade and Industry, the National Technology Agency TEKES, and Finpro will all participate in the activities of the centre.
      Kekkonen confirms the technology centres of the universities of Kuopio and Jyväskylä have also become interested in the enterprise.
     
The innovation centre in China will be the first of its kind set up overseas by Finland. Should it answer expectations, other centres will follow elsewhere in the world.
      The government will confirm the funding for the undertaking in next week's supplementary budget, after which the search for the centre's director will commence.
      In addition to a Finnish director, one or two Chinese workers will also be hired. The premises in Shanghai has already been reserved. 


Links:
  Ministry of Trade and Industry - press release

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