New health program opens up global market for digital health for companies
Business Finland has launched a new health and well-being program, Health 360 Finland. The program will accelerate the adoption of new digital solutions to boost the health sector and its exports. The program, which will run until 2028, will fund research and development projects with €80 million.
The Health 360 Finland program promotes the application of new technology in the health sector both domestically and in the most promising export markets. It helps Finnish operators to join international networks and builds opportunities for Finnish companies to meet investors and financiers.
The aim of our new program is that by the end of the program, the health sector will have adopted new technologies, new business models and technological solutions to address labour shortages. In addition, new companies from other sectors have entered the health sector. For example, companies in the IT sector have found the health sector attractive and have expanded their activities in this sector.
Through the program, we aim to shift the focus from disease treatment to healthcare. This will provide new business opportunities for Finnish companies and increase exports.
Data for broader and more efficient use
A lot of health-related data is collected in Finland. The Health 360 Finland program also promotes the use of this data by companies in developing new health solutions. There is significant demand, especially in Europe, for better utilization of health data both in the operations of the health sector and in the development of new treatment methods.
The health sector is currently challenged by issues such as an aging population, the continuous rise in healthcare costs, and worsening workforce shortages in healthcare.
“The objective of the Health 360 Finland program is to support Finnish companies in developing and commercializing internationally competitive solutions that ease the burden on the healthcare sector,” summarizes Outi Tuovila, the expert who led the program’s preparation at Business Finland.
The program’s activities will commence immediately. A launch event for customers, stakeholders, and the media will be held on August 28, 2024, in conjunction with the Healthtech Export Day.
The Health 360 Finland program supports the goals of Business Finland’s Healthcare Reimagined 2035 mission, such as the advancement of personalized digital healthcare.