Startups are newly established businesses, typically in the early stages of development, that aim to innovate, grow rapidly, and often disrupt existing markets with new products or services. They are usually characterized by their focus on scalability and technology-driven solutions, and frequently seek to address a gap in the marketplace or solve a specific problem. Startups often rely on external funding, such as venture capital or angel investors, to finance their growth and development. The goal of a startup is to develop a sustainable business model that can attract a broad customer base and generate significant revenue, often leading to eventual profit or an exit strategy such as acquisition or public offering.
Finland's tech transformation occurred after the decline of Nokia, sparking a wave of entrepreneurial spirit among former employees. The Finnish government shifted focus towards developing a startup ecosystem, facilitating the…