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06/03/2002
Innovation lecture probes Finnish economic success
An expert on “the knowledge economy” has given a lecture at Queen’s University on Tuesday March 5 on how Finland has come to be ranked as the world’s most competitive economy.
Present at the event was Professor Jorma Routti, Executive Chairman of Creative Industries Management Ltd, which was the first European venture capital fund for creative industries, launched in 2001 with private and public investment from Finland and Europe.
Speaking at the First Trust Bank Innovation Lecture, he examined how Finland has come to be ranked as the world’s most competitive economy in the latest review by the World Economic Forum. Finland has been cited as the country with the best growth potential over the next five years by the 'Global Competitiveness Report 2001'.
Professor Routti revealed that the success factors for the kind of modern economy that Finland had achieved - and that Northern Ireland is striving to emulate - were many, and that Finland’s competitive spirit, government backing for business and technological innovation, high expenditure on research and development in both universities and industry, and commitment to exports have all played a part in its success.
Professor Roy Crawford, Pro-Vice-Chancellor for Research and Development said the University was delighted to host the lecture at a time when the newly created Invest NI was developing its strategy to strengthen the local economy.
Dennis Licence, Managing Director of First Trust Bank, added: “If we hope to create a growing, dynamic economy in Northern Ireland, it is essential that business, government and education are committed to the development of an economy based on knowledge and value added. Finland’s success demonstrates what can be achieved.”
During his career Professor Routti has been President of SITRA - the Finnish National Fund for Research and Development, Dean of Helsinki University of Technology, and a visiting scientist at CERN in Geneva.
He is also a former Director General of the European Commission’s Directorate for Science Research and Development. (MB)
Present at the event was Professor Jorma Routti, Executive Chairman of Creative Industries Management Ltd, which was the first European venture capital fund for creative industries, launched in 2001 with private and public investment from Finland and Europe.
Speaking at the First Trust Bank Innovation Lecture, he examined how Finland has come to be ranked as the world’s most competitive economy in the latest review by the World Economic Forum. Finland has been cited as the country with the best growth potential over the next five years by the 'Global Competitiveness Report 2001'.
Professor Routti revealed that the success factors for the kind of modern economy that Finland had achieved - and that Northern Ireland is striving to emulate - were many, and that Finland’s competitive spirit, government backing for business and technological innovation, high expenditure on research and development in both universities and industry, and commitment to exports have all played a part in its success.
Professor Roy Crawford, Pro-Vice-Chancellor for Research and Development said the University was delighted to host the lecture at a time when the newly created Invest NI was developing its strategy to strengthen the local economy.
Dennis Licence, Managing Director of First Trust Bank, added: “If we hope to create a growing, dynamic economy in Northern Ireland, it is essential that business, government and education are committed to the development of an economy based on knowledge and value added. Finland’s success demonstrates what can be achieved.”
During his career Professor Routti has been President of SITRA - the Finnish National Fund for Research and Development, Dean of Helsinki University of Technology, and a visiting scientist at CERN in Geneva.
He is also a former Director General of the European Commission’s Directorate for Science Research and Development. (MB)
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