The Startup Scene in Vantaa is Growing and International – The Proportion of Female Founders Far Exceeds the European Average

According to the study conducted at the end of 2024, there are 70 active startup companies in Vantaa, of which 29 percent are software companies, 16 percent are focused on IT business, and 13 percent are in the field of education and educational technology. Compared to Lahti and Turku, Vantaa has significantly more startups focused on IT business and education and educational technology. Most of the customers consist of corporate clients. 

Growth, Jobs and Opportunities

The combined turnover of Vantaa's startup companies is approximately 31 million euros and has increased by 25 percent annually. About one-third of startups grow by up to 40 percent per year. Startups generally aim for the strongest possible growth, and about 54 percent of Vantaa's startups seek rapid international growth. After Finland, the most targeted markets are Sweden, Norway, Denmark, and Germany.

Vantaa offers a unique location for startups, as the proximity to the airport allows easy access to international markets. Vantaa's export-driven business operations also make it an attractive location, says Vantaa's Director of Economic Development, Tommo Koivusalo.

Startups are predicted to have positive growth prospects in terms of both turnover and employment opportunities. Currently, Vantaa's startups employ a total of 277 person-years.

In the last 10 years, 5–10 new startups have been established annually in Vantaa. In 2024, 9 new startups were established. 

The Number of Female Founders in Vantaa is More Than Double the European Average 

In Vantaa, the proportion of female founders of startup companies is as high as 28 percent, compared to the European average of 13 percent. The proportion was also lower in the comparison cities of the study.

– The proportion of female founders is great news, and it is important to us that Vantaa's diversity is also reflected in the startup scene, says Koivusalo.

Internationality is also evident in Vantaa's startup scene. One in four startup entrepreneurs does not speak Finnish as their mother tongue, and in 50 percent of companies, English is used as the working language. 

Vantaa is a Runway for International Growth 

Vantaa wants to support the growth and internationalization of startup companies. In recent years, determined efforts have been made to make Vantaa an excellent location and partner.

In Vantaa, we have developed the operations of our startup communities with a fresh approach for only the past couple of years. The results are already starting to show, and we aim for rapid growth together with our companies. We are already recognized as a startup city, and this is a good foundation to build on, says Olli-Pekka Mäkirintala, Director of International Business Services.

In 2024, a new coworking space, Startup Runway, was opened near the airport, encouraging startups to collaborate and innovate together. Startup Runway is an inspiring environment that offers resources and mentoring. Last year, Vantaa also organized or participated in organizing 12 events aimed at startups.

Vantaa has increased its visibility globally and has formed several international partnerships. These, in turn, help startups located in Vantaa to build relationships and aim for success abroad. 

How and Why Was the Study Conducted?

In the study, a startup was defined as a company that employs 1–49 people, is a limited liability company and privately owned, develops an innovative product or service with high business risk, actively seeks internationalization and strong growth, has received venture capital funding or is of interest to venture capitalists, and is 0–10 years old.

The main goal of the study was to determine the number of active startup companies in Vantaa and to analyze current information on the development and growth situation of the companies. The results are used, among other things, in the development of Business Vantaa´s services.

The startup study was conducted by Crazy Town Oy.