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Indo-Finnish Market Entry Acceleration Programme
The Indo-Finnish Market Entry Acceleration Programme (a flagship initiative by GOInternational Finland) is actively driving cross-border collaboration between India & Finland (and the Nordics) on delivering smart cities and villages in India.
To put it into context, every minute approximately 3 Indians are migrating from rural India to urban spaces and this pace is set to continue, thus creating incredible challenges & opportunities for one of the world’s largest economies. PM Narendra Modi’s $15 Billion Smart Cities programme is leading the way to transform urban spaces as economic engines that offer excellent quality of life in a new India.
Finnish & Nordic companies can contribute to India’s transformation by means of merging Finnish strengths in disruptive product development with India’s unparalleled skills in frugal innovation and create solutions that can propel inclusive development in India. At the same time, these co-created innovative solutions would be ideally suited for the rest of the developing world; therefore a global market for Nordic solutions.
The objective of the acceleration programme is to facilitate growth through collaboration beyond borders with agile and frugally innovative solutions.
Why Are The Nordics So Innovative?
With revered education systems and small cash-rich populations, the Nordics have the right framework to support free-thinking disruptors who can question, change and evolve the ways in which we live. The region accounts for 2 per cent of world GDP and over 10 percent of “Billion Dollar exits” globally.
Nordic countries occupy the top spots in the latest ‘European Innovation Scoreboard’ compiled by the EU Commission. Sweden is ranked at no.1 for it’s high-quality academic studies and Finland has been recognised at no.3 for being a leader in Financial frameworks that support innovation R&D. To further compound this recognition, according to the 2016 Global Innovation Index (compiled by Cornell University, INSEAD and the World Intellectual Property Organisation) Finland, Sweden and Denmark feature in the top 10 most innovative countries in the world.
The Perfect Partners For Co-Creation
It is estimated that by 2030, 600million Indians will live in Smart Cities and that 75% of India’s GDP will come out of these cities. The Indo-Finnish Market Entry Acceleration Programme prepares Finnish&Nordic companies to access and serve this emerging Indian market better. For Indian startups & corporations, it offers an opportunity to go global with a base in one of the innovation capitals in the European Union.
Most Smart City technologies coming out of the EU are targeted to the top rich 1billion in the world. But there are 6.2billion people on Earth who need technology too; And Frugal Innovation is about creating a value proposition which fits that audience. To coin the UN mantra; Development With All, And For All.
Benefits for Indian Start Ups and Corporations
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SMART CITY BIZHACK CHHATTISGARH
In March, GOInternational Finland is taking Nordic Smart City Innovators to the Frugal Innovation Summit, in Raipur, India, to participate in Smart City BizHack Chhattisgarh. The event is all about bringing Finnish Smart City Innovators together with local Indian counterparts to explore how Nordic solutions can be deployed in the State and across India.