The factors contributing towards the success of startup businesses in Finland
Kasher, Taha (2025)
2025
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2025060319629
https://urn.fi/URN:NBN:fi:amk-2025060319629
Tiivistelmä
Finland is known worldwide for its robust startup environment, which is characterized by innovation, public funding, and institutional support. Despite the favorable atmosphere, many entrepreneurs confront early-stage obstacles. Understanding the elements that drive startup success is critical, particularly in the context of a Nordic economy where sustainability, digital transformation, and entrepreneurship are important national priorities. This thesis investigates the link between two essential elements—the power of the company idea and availability to funding— and their impact on startup success in Finland.
The major goal of the study was to determine how the perceived quality of a business idea and the availability of capital influence the growth and sustainability of new companies. The study intended to answer one central question: How do the quality of a business idea and access to funding contribute to the success of startup businesses in Finland? Two sub-questions were also addressed: How important is a great business idea to Finnish startups? How does access to funding affect startup success in Finland?
The research employed a quantitative technique, including a structured online survey delivered via Webropol. The target audience consisted of early-stage entrepreneurs, aspiring founders, and Finnish business students. A total of 60 responses were gathered and analyzed in Microsoft Excel with descriptive statistics. The theoretical framework is based on current literature on entrepreneurship, startup funding, business model creation, and ecosystem assistance, as well as examples from Finnish companies.
According to the data, 86.6% of respondents rated a good business idea as "very important" or "extremely important" for startup success. At the same time, 80% identified funding as a significant success component. Most participants agreed that a verified company idea, when combined with enough financial support, leads to increased scalability and operational growth. Respondents also identified obstacles such as complex grant applications, language hurdles, and a lack of networks. These were especially common among overseas entrepreneurs. The findings reaffirmed the view that a company idea and funding are inextricably linked in the entrepreneurial journey.
At last, the thesis highlights that startup success in Finland depends on both the uniqueness and validity of the company idea, as well as timely and enough financial backing. For budding entrepreneurs, the findings emphasize the value of market research, strategy clarity, and ecosystem participation. Recommendations include raising awareness of funding sources, developing mentorship networks, and lowering bureaucratic barriers. Future study might compare the startup paths of native and overseas founders, or it could look at the long-term success characteristics of firms after the initial launch period.
The major goal of the study was to determine how the perceived quality of a business idea and the availability of capital influence the growth and sustainability of new companies. The study intended to answer one central question: How do the quality of a business idea and access to funding contribute to the success of startup businesses in Finland? Two sub-questions were also addressed: How important is a great business idea to Finnish startups? How does access to funding affect startup success in Finland?
The research employed a quantitative technique, including a structured online survey delivered via Webropol. The target audience consisted of early-stage entrepreneurs, aspiring founders, and Finnish business students. A total of 60 responses were gathered and analyzed in Microsoft Excel with descriptive statistics. The theoretical framework is based on current literature on entrepreneurship, startup funding, business model creation, and ecosystem assistance, as well as examples from Finnish companies.
According to the data, 86.6% of respondents rated a good business idea as "very important" or "extremely important" for startup success. At the same time, 80% identified funding as a significant success component. Most participants agreed that a verified company idea, when combined with enough financial support, leads to increased scalability and operational growth. Respondents also identified obstacles such as complex grant applications, language hurdles, and a lack of networks. These were especially common among overseas entrepreneurs. The findings reaffirmed the view that a company idea and funding are inextricably linked in the entrepreneurial journey.
At last, the thesis highlights that startup success in Finland depends on both the uniqueness and validity of the company idea, as well as timely and enough financial backing. For budding entrepreneurs, the findings emphasize the value of market research, strategy clarity, and ecosystem participation. Recommendations include raising awareness of funding sources, developing mentorship networks, and lowering bureaucratic barriers. Future study might compare the startup paths of native and overseas founders, or it could look at the long-term success characteristics of firms after the initial launch period.