Sitra is intensifying the social impact of its operations

Press Release 14 April 2004 The Supervisory Board of Sitra, the Finnish National Fund for Research and Development, confirmed Sitra’s strategy for the years 2005 – 2007 at its meeting on April 14, 2004. Promoting Finland’s welfare and strengthening its competitiveness remain Sitra’s main task. Economic growth is a condition for maintaining and developing the Finnish welfare society. Preserving Finnish competitiveness in a globalising world means that society must be creative, dynamic and prepared to renew itself. In the coming strategic period, Sitra will intensify its operations and their social impact. In the new operational model Sitra’s competence and resources will be concentrated to a few focal areas. Preparation work will begin immediately, and the first areas will be selected in autumn 2004. Sitra will also concentrate its corporate funding from its own balance sheet to selected areas. In addition, Sitra is ready to take full responsibility for public-sector funding at the pre-seed and seed stages through national and international sources of capital and encouraging initial investment by the private sector. Sitra will exit from portfolio companies outside the selected focal areas in accordance with careful plans designed to ensure the companies’ success and the return on Sitra’s capital. Additional information from Sitra communications, telephone number +358 9 618 991.