Helsinki Calling: Indian Talent Finding Better Pastures In Finland?

When Rhythm Rajiv Bhatia, a promising computer science engineering graduate from Symbiosis Institute of Technology, Pune, set her sights on furthering her education after working for a bit at multiple organisations, she had one primary criterion: a country that judged her solely on her knowledge and skills, without bias towards her gender. 

Her quest led her to the University of Eastern Finland, a decision shaped by an encounter with research from the institution during a conference. Intrigued by the academic freedom and supportive environment she discovered; Bhatia started on a journey that would not only advance her academic career but also spark her entrepreneurial spirit.

Now serving as the founder and CEO of Cognozire, an AI consultancy company, she simultaneously pursues her PhD at the University of Eastern Finland while also fulfilling a part-time role as a Faculty Lecturer at Baden-Wuerttemberg Cooperative State University (DHBW).

“I was looking for a country where I would not be judged based on my gender or ethnicity, but rather solely on my knowledge. Finland turned out to be that place,” said Bhatia, during a recent event in Bengaluru.

Her journey has been on the fast lane since her tryst with Finland began. She recently met her co-founder at the Finland-based Kiuas startup accelerator and they began developing an innovative healthcare product. Their hard work paid off when they were selected by a prestigious Helsinki incubator.

Bhatia’s experience reflects a broader trend of Indians increasingly looking towards Finland for its educational and entrepreneurial opportunities. Drawn by the country’s high-quality education, innovative startup culture, and supportive environment, many Indian students and entrepreneurs are finding it to be a land of promise. 

Garima Jain, a data engineer and entrepreneur, shared with BW Businessworld that the biggest challenge in India right now is the lack of adequate mentorship for startup founders. “We don’t have the right set of mentors to guide us,” she explained. “Even if you secure investment, you need the skills and guidance to manage it effectively. Sometimes you bootstrap your venture, but end up losing all your savings. Proper mentorship is crucial.”

Jain identified Finland’s vibrant EUR 48.2 billion startup ecosystem as a promising source of the much-needed mentorship, which could potentially offer opportunities without the intense competition encountered in India.

Support For Startups In Finland 

Since 2018, about 45 Indian startups have been granted permits to operate from Finland and more are showing interest with the country’s proactive programmes that are looking to attract more.

Finland extends support to international startups, with services including funding opportunities, guidance in market expansion, and expedited residence permits. Major cities like Helsinki, Tampere, Turku, and Oulu also provide soft landing services, which help aid in business setup, networking, and relocation assistance for employees and their families, with International Houses offering support for international talents relocating to these cities.

Every year, Finland invests EUR 600-700 million on R&D and innovation, which includes startups

In addition to funding and mentorship, Finland provides Indian startups a possible gateway to the European market being an EU member. With a lower corporate tax rate of 20 per cent, compared to India’s 25 per cent, coupled with generous tax incentives and R&D sub-contracting deductions, Finland has an attractive business environment for startups.

Indian Talent #1 Priority For Finland 

With more than 20,000 Indians already living in Finland and 15,000 of them employed at companies such as Nokia, Kone, Wärtsilä, and Nordea, the bilateral ties between the two countries continue to grow stronger. Additionally, the operations of Indian IT firms like HCLTech, Infosys, and TCS in Finland are further reinforcing this relationship. In fact, the Nordic country’s connection with India is so strong that approximately half of Finland’s international professionals come from India. 

India’s expanding network of startup operators, coupled with its highly skilled workforce comprising financial and business experts, an ever-growing Information and communications technology (ICT) talent pool, and a rich tradition of expertise in the service industry, has positioned the country as the top priority for talent sourcing for Finland since 2019. This preference stems from the inadequacy of skilled workers within Finland’s domestic labour market, given the country’s relatively small population of 5.5 million.

“Around 7000+ applications of Techies were submitted in 2023 for migration to Finland and few select nordic countries like Sweden. With the aim of increasing Tax revenues and tackling the declining age population these Governments are inviting foreign nationals for work, study and employment opportunities with more benefits of equal and lesser work hours affordable housing, multiple entry family visas.” - Munira Loliwala, AVP- strategy and growth, TeamLease Digital

Finland’s government agency, Business Finland, which drives trade and investment promotion, innovation funding, travel promotion, and talent attraction initiatives has been very active in India, operating out of national capital New Delhi. 

“Finnish government has mandated collaboration among various stakeholders - ministries, cities, universities, public employment services, and organisations,” Laura Lindeman, Senior Director of Business Finland’s Work in Finland unit, explained. There have been concerted efforts to facilitate the entry of specialists into Finland, particularly to focus on smoothing the process for Indian professionals and those from other key countries.

“Our residence permits and visas have seen significant acceleration. We’ve implemented a fast-track system, allowing specialists from India, for instance, to secure their residence permits within a mere two weeks,” Lindeman added. “Since 2019, India has been our primary focus country for talent attraction efforts.” 

While the ICT talent predominantly fills the Indian talent pool in Finland (and possibly will continue to), the country is hoping to next tap into healthcare and service sector expertise from India. These sectors are currently heavily understaffed in the Nordic nation and presents an opportunity for skilled Indian professionals, with jobs available aplenty.