The University of Helsinki has introduced new incentives for innovation for researchers. According to Chief Financial Officer Marjo Berglund, it would also make sense to boost commercialisation with governmental RDI funding.
The University of Helsinki has determinedly invested in innovation for years , and for good reason - research-based inventions should not be left unexploited, as they hold great potential for helping humanity and the planet.
At their best, cancer therapies, technical solutions that curb climate change or, for example, inventions in support of occupational wellbeing can serve the entire global population. They also improve Finland's economic prospects by raising the country's profile, attracting talent and investments.
"Research-based innovations are highly likely to have a substantial impact on society," says Chief Financial Officer Marjo Berglund of the University of Helsinki.
In fact, the government should now seize the opportunity and allocate to Finnish universities additional resources to commercialise research. This could be done through RDI funding, on which a consensus has already been reached in the Finnish Parliament. Berglund suggests that the Ministry of Economic Affairs and Employment could direct such funding to universities, for example, on the basis of the quality and scope of research, using the indicators of the funding model for Finnish universities.
"With this additional funding, universities could strengthen services that help researchers commercialise their findings, putting all the innovation potential out there to use. The government should definitely allocate RDI funding to this, as it would benefit both citizens and the Finnish economy," Berglund says.
New commercialisation incentives for researchers
The University of Helsinki is also actively promoting innovation on its own. In autumn 2024, the University published new principles of commercialisation and intellectual property guidelines, making it increasingly attractive to steer inventions to the market.
In future, entrepreneurial teams that establish, for example, spinouts after Research to Business projects will gain a larger stake in them. The University of Helsinki will become a shareholder, typically with a 15% share.
"In the case of inventions protected by a wide range of intellectual property rights, the University's holding may be even larger. Then again, it may also be smaller in cases where teams have already secured substantial funding through negotiations," Berglund says.
The terms pertaining to intellectual property have also been improved. If, for example, the University licenses a ground-breaking technical solution, the researchers who developed it will receive 50% of the net income.
"Incentives are extremely important for inspiring the academic community to bring forward their inventions and ideas," says CEO Marko Hakovirta of Helsinki Innovation Services Ltd, who contributed to updating the guidelines.
A record number of invention disclosures
Helsinki Innovation Services provides assistance to researchers, from investigating the commercial potential of inventions to surveying the market and concluding agreements on intellectual property. Advice on funding and legal matters can also be sought from the University's two-person team responsible for investments in spinouts.
To date, Helsinki Innovation Services has spurred on 28 spinouts to the market, and the future looks promising.
"Last year, research conducted at the University of Helsinki produced a record-breaking 126 invention disclosures," says Hakovirta.
The University is well-positioned to generate successful business ideas: a diverse range of disciplines, an international orientation and strong expertise in commercialisation. Everything rests on a high level of research and skilled researchers.
"We have a highly accomplished academic community here," Hakovirta says.
University-based businesses benefit Finland
Hakovirta has extensive experience in innovation management in international manufacturing businesses. Before his current position, he worked at American universities in leadership positions and as a professor, noticing how many large businesses there rely on science and research. Hakovirta believes that a more diverse private sector based on high skills should be built in Finland as well. It would also be more resilient in the face of economic downturns.
"For Finland, the commercialisation of research is a really big opportunity. It's a lifeline for staying competitive," says Hakovirta.
Berglund points out that the impact of university-based businesses stems from their ability to tackle major global problems. At the same time, they can bring tax revenue and capital to the country, which can then be invested in new ventures.
This also applies to academia: when the University invests in researchers' businesses, the financial returns eventually benefit the academic community. For example, the success of Mobidiag, sold for an enormous sum, and other spinouts has enabled the substantial investments in innovation services seen in recent years.
"We invest to generate a positive cycle," Berglund sums up.
