November 27, 2024
The Metaverse Finland (MEFI) ecosystem brings together Finnish industries and academia to push the boundaries of what the metaverse can achieve.
Metaverse applications, such as virtual reality, augmented reality, and digital twins, represent a transformative shift. The Metaverse market is expected to reach over $2000 billion by 2032.
Finnish companies are well-positioned to capitalize on this growth by developing essential technologies, including immersive experiences, sensor innovations, and communication solutions.
“At Nokia, we are thrilled to join the Metaverse Finland ecosystem and contribute to its objectives,” says Ville-Veikko Mattila, Head of Multimedia Technologies at Nokia, who has been appointed Chairman of the Management Board of the Metaverse Finland Ecosystem.
“This ecosystem is dedicated to fostering ethical and responsible development, with a strong emphasis on privacy, user safety, and societal impact. By bringing together Finnish industries and academia for co-innovation, we promote collaboration to push the boundaries of what the metaverse can achieve.”
Increasing Productivity and Safety
The MEFI ecosystem emphasizes integrating metaverse technologies across various industries, including manufacturing, construction, and logistics. Mattila highlights the opportunities for Finnish companies:
“For Finnish companies, the metaverse offers numerous business opportunities. Industrial applications can significantly enhance productivity and safety through the use of digital twins and real-time operations. There are substantial opportunities for innovation and research and development, leading to the creation of new solutions. Finnish companies can also benefit from global collaboration by forming international and national consortiums and value networks.”
Specific sectors such as urban planning, medicine, training, and defense are also poised to benefit from metaverse innovations, presenting additional avenues for growth.
Continuing the National Metaverse Strategy
Finland was the first European nation and one of the first globally to create a Metaverse strategy in 2023 with the vision “In 2035, Finland is globally the leading architect and enabler for the Metaverse.” Shaped collaboratively with over 400 community members, the strategy was initiated by Business Finland and structured into five MIA programs (Metaverse In Action).
The work now continues within the MEFI ecosystem, with DIMECC as the orchestrator. DIMECC has been driving impactful ecosystems since 2016, leading initiatives across diverse fields of technology and digitalization. One of the first initiatives of the MEFI ecosystem is the launch of research and development programs. Some of these are being prepared in collaboration with the ecosystem’s anchor partner, Nokia’s new LEAD leading company project.
“The Metaverse Finland Ecosystem is dedicated to advancing and executing the Finnish Metaverse Strategy. Our mission extends beyond launching multiple annual RDI projects; we focus on identifying tangible business opportunities and bringing them to life in collaboration with our diverse ecosystem partners across various sectors of the virtual world,” says Tomi Kankainen, Senior Ecosystem Lead for MEFI and CBDO at DIMECC.
New members are continuously joining the ecosystem from all areas of the value chain, from technology enablers to industrial end-users. Current members include, among others, Nokia, Mirka, Valmet Automation, Cineshare, Top Data Science, Stereoscape Oy, Immersal, Delta Cygni Labs, Demola Global Oy, Vaski Group, Metropolia, and VTT. In addition to the companies’ own investments, the ecosystem is funded by Business Finland.
