Reigniting Growth through Innovation

Reigniting Growth Through Innovation: Challenges and Answers

The Reigniting growth through innovation project, funded by Business Finland between 2020 and 2022, addressed the key challenges to the current growth paradigm and searched for novel policy levers to increase the effectiveness of innovation in a landscape of global turmoil following the pandemic. In this article, we summarize the key findings…

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How do new ideas and innovations increase the productivity of companies and the development of national economies? And how does Finland rank in the country comparison?

How can policy instruments contribute to the development of new ideas into productivity-enhancing innovations?

Where innovations arise? How value chains and platforms enable the emergence and development of new innovations?

How are knowledge and skills transferred with employees? And how do different forms of entrepreneurship, such as hybrid entrepreneurship, contribute to the transfer of knowledge capital?

Effective innovations and economic adaptability are key to solving the crises of the 2020s. Currently, special challenges are posed by Covid-19, climate change and slowing economic growth.

The ReGrow project aims to gather high-quality and diverse new information on factors that affect innovation and adjustment capacity of the economy. This information will support the national innovation strategy and contribute to the development of new practices.

The project is divided into three themes that study innovation and its transformation:

Get familiar with the project with the video (Finnish):

Novelty of Ideas

The work package examines, among other things, how willingness and ability to create, experiment and utilise new ideas contributes to the success of innovation.

Innovations, firms and new forms of work

The work package examines, for example, how innovations are created in networks and projects?

Knowledge spillovers

The work package examines, for example, how skills and innovations are transferred to other companies through job exchanges?


The ReGrow project is funded for 2020-2022 by the Business Finland Co-Innovation funding.

Co-Innovation funding is for research organizations and companies developing jointly new knowledge and innovations for business needs. The funding accelerates the use of research knowledge, boosts the creation of new Finnish export products and strengthens networks in ecosystems.