Science, Technology and Industry Co-operation in Finland - Technopolis: Best Practices for Science and Technology Cities - page 435

The above figure provides an insight view in the expenditure in R&D and
innovation by actor. The figures represent the total extent of each organisation (in
million Euros, €) in 2008. In parenthesis the share that is funded from the State
budget. The funds of Tekes, the Academy of Finland and Innofin are funded
entirely from the State budget.
The main organisations involved in innovation environment:
The Academy of Finland, which includes four national research councils, is
responsible for the financing and strategy formulation of the basic research,
research training and science policy. The Academy of Finland has a range of
different funding instruments for different purposes: it provides funding for
research projects, research programmes, centres of excellence in research,
researcher training, international co-operation, as well as research posts for
Academy Professors and Academy Research Fellows. The Academy has four
Research Councils that decide on the allocation of funding within their respective
fields. In 2006, approximately 15 % (€257 million) of all Government research
funding will be channelled through the Academy. The Academy's responsibilities
also include the advancement of scientific research and the encouragement of its
exploration, and the development of international scientific co-operation.
Tekes, the Finnish Funding Agency for Technology and Innovation,is
administered by the Ministry of Trade and Industry. Its primary objective is to
promote the competitiveness of Finnish industry and the service sector by assisting
in the creation of technology and innovation. The main instruments of Tekes are
industrial R&D grants and loans to firms and grants for applied research for public