New growth portfolio operating model supports sustainable growth and wellbeing based on skills and innovation

NordenBladet — The new growth portfolio operating model of the Ministry of Economic Affairs and Employment provides a tool for Finnish companies to strengthen their ability to anticipate and concretise future trends and to understand global market opportunities and competitive strengths. The growth portfolio work will create a better knowledge base and intensify cooperation between the private and public sectors.The growth portfolio operating model developed under the leadership of the Ministry of Economic Affairs and Employment aims to help identify promising new growth opportunities for Finland based on a dialogue between companies, experts and decision-makers. In identifying growth opportunities, it is essential to anticipate the development of the global market, assess Finland’s competitive advantages and understand the extensive impacts that growth potential can have on the Finnish economy and society. The growth portfolio operating model is one tool to support sustainable growth and wellbeing based on skills and innovation. The rapidly changing operating environment poses challenges to Finland’s competitiveness
and wellbeing in the 2020s and beyond. New technologies evolve, and the market and operating environment change rapidly. The green transition and digitalisation break down old structures and livelihoods, which makes decisions and choices in companies and administration even more challenging than before. “Building a vision of future growth opportunities and leading sectors is part of the industrial and innovation policy tasks. It is not the public sector’s task to make growth choices, but we can do our part to create a better knowledge base for companies to help in these choices and to develop an operating environment conducive to innovation,” says Ilona Lundström, Director-General responsible for industrial and innovation policy. The energy transition and health and wellbeing sectors are good examples of areas that have significant commercial potential globally. The development of globally successful solutions requires a holistic, ecosystem-oriented approach to development in which the goals and measures of companies, developers and administration are aligned.  Regulation has an increasingly important role in enabling new technologies, markets, business models and other innovations as well as in developing emerging growth sectors and ecosystems. Innovation-friendly regulation helps to create an innovation and business environment that generates international competitive advantage and attracts new companies and investments. 

Source: Valtioneuvosto.fi