Business Finland has granted Metaverse Finland (MEFI) two years of continued funding. The funding supports the development and adoption of XR technologies and strengthens Finland’s position amid intensifying global competition. Many XR applications are on the verge of a breakthrough, and artificial intelligence will accelerate their development.
“We have brought innovation cluster funding under strategic review at the national level and granted continued funding because of its significant contribution to advancing the immersive technology sector. Making broader commercial use of our deep tech expertise is critical to Finland’s national competitive advantage,” says Lassi Noponen, Director General of Business Finland.
According to Noponen, Finland has an estimated €6.2 billion in unrealized annual growth potential.
“DIMECC is making an excellent contribution to closing this gap. The organizations in DIMECC’s cluster can turn multidisciplinary XR research expertise into innovations, export business and new jobs in a sector with significant global growth potential,” Noponen continues.
Led by DIMECC Oy, Metaverse Finland was established in 2024 to implement Finland’s national metaverse strategy. MEFI focuses on four application areas in which practical, impactful use cases have already been developed: health, industry, security and immersive content. During the new funding period, MEFI aims to support the growth and development of XR companies, expand its national network and accelerate collaboration between XR companies and leading companies participating in Business Finland’s Veturi initiative.
“We are pleased that Business Finland values the early-stage development work undertaken by our ecosystem partners and has recognized the need for a long-term commitment to Finland’s XR sector. This funding enables us to support the growth of Finnish organizations and facilitate collaboration across the sector at the national level,” says Roope Pajasmaa, Senior Ecosystem Lead.
MEFI seeks to help Finnish companies grow through European collaboration and international markets. International cooperation gained momentum during the first funding period, when MEFI actively showcased Finnish innovations and expertise globally and established new connections, particularly with European and American organizations in the sector.
As the global security environment becomes increasingly challenging, supporting European technological development and sovereignty also contributes to Finland’s comprehensive security. Closer Nordic cooperation is another key factor in accelerating growth.
“The Nordic countries are pioneers in many respects, both in XR technologies and in cross-border cooperation. Collaboration between Sweden, Norway and Finland plays a key role in European development efforts, and together we can set an example for others,” says Eja Tuominen, CEO of DIMECC Oy.
MEFI has 27 active partners. Nokia has been a driving force from the outset, chairing the steering group and leading several research, development and innovation projects. Initiatives launched through the ecosystem include Digital Twins in Action, a project that develops and pilots next-generation digital twins in industrial environments.
According to Lassi Noponen, XR technologies enable the third phase of the internet’s development.
“In the 2030s, digital services will become integrated into users’ physical surroundings. The emergence of entirely new XR development platforms and ecosystems will be comparable in significance to the earlier transformation brought about by mobile ecosystems, presenting a major opportunity for Finnish companies,” Noponen says.