From carbon capture to circular construction: The business of sustainable innovation

One standout figure says it all: 80% of today’s buildings will still exist in 2050, making retrofitting and circularity non-negotiable. Finnish innovators are answering that call, turning sustainability into business through trust and bold ideas.

Finland has quietly built one of the world’s most dynamic ecosystems for startups and global corporations seeking sustainable growth. From climate tech to circular economy solutions, the country offers a culture that accelerates the implementation of ideas.

An ecosystem built for impact

In a business environment where unnecessary restrictions slow progress, Finland stands apart. “There’s no gatekeeping here,” notes Fabien Fédy, Head of New Business Innovation at KONE. “You can pick up the phone and reach anyone – corporates, investors, even government agencies. That transparency is part of Finnish culture and fuels co-creation.”

KONE’s partnerships with startups have delivered innovations like digital twins for metro stations and AI-driven HVAC optimization. “The challenge is massive – buildings account for nearly 40% of global energy-related emissions,” Fédy explains. “But the opportunity is bigger. We move two billion people every day. If we can cut carbon in our supply chain and optimize energy use, the ripple effect is enormous.”

"Transparency is part of Finnish culture and fuels co-creation."

The spirit of cooperation scales beyond individual companies. Finland’s approach is holistic: corporates, startups, universities, and public agencies working as one. Annual tech startup events like Slush amplify this collective momentum, attracting global players such as VINCI Group, Cemex, and Ilmarinen.

Louis Cottin of VINCI Group highlights why his company keeps returning. “You’re building a strong, innovative ecosystem. Public entities are well-funded and help innovators. We’ve seen solutions subsidized to accelerate development, and that really helps.”

For Cemex Ventures, the draw is Europe’s regulatory momentum and Finland’s tech leadership. “We’ve committed to carbon neutrality by 2050,” says Miguel Carralón. “Here in the Nordics, technologies for decarbonization and circularity are scaling fast. These solutions will expand across Europe and beyond.”

From a circular economy vision to reality

Ilmarinen, Finland’s most prominent pension insurer, is pioneering reuse in construction. “The next real challenge is reducing the environmental impact of construction itself,” says Tomi Aimonen. Their roadmap includes material reuse platforms and demolition surveys to enable industrial-scale recycling. “Business Finland plays a massive role in connecting demand and supply efficiently,” he adds.

"Business Finland plays a massive role in connecting demand and supply efficiently."

Startups are answering the call. From Spolia’s brick-cleaning technology to Soletair Power’s HVAC-integrated carbon capture systems, Finnish innovators are turning buildings into carbon sinks. Yet even in this thriving environment, founders face hurdles.

Scaling bold ideas globally

While Finland’s environment is strong, funding remains a challenge compared to markets like Silicon Valley. “If we were in California, we’d probably raise a lot more money, even without a finished product,” says Petri Laakso of Soletair Power. Cultural humility can also slow global scaling. “We need to be bolder in telling our story,” he adds. Events like Slush are helping bridge that gap, giving Finnish startups a global stage.

Overcoming these challenges will unlock even greater potential because Finland offers more than technology. It provides trust, transparency, and a shared mission to build a sustainable future. For investors and innovators, the message is clear: connect, commit, and scale up.