Startup companies that have received funding from Tekes, Finland’s innovation agency, have on average grown faster that other startups, a study has found.
Small companies that were given Tekes funding went on to employ more people than companies that hadn’t received funding, the report, conducted by Etla, the Research Institute of the Finnish Economy, found. The study aimed to measure the impact of Tekes funding and to suggest ways to make it more effective in the future. It was published on 26 May.
The report found that in 2013, Tekes-funded startups employed on average 20 people, while other companies employed seven people on average.
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