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Sitra to invest five million euros in foreign companies

Sitra may in the next three years invest five million euros in three to five foreign enterprises.

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First investment – Efficas Inc. (USA)

Sitra’s Board has made a decision by which Sitra may in the next three years invest five million euro in three to five foreign enterprises. The purpose of the decision is to promote the import of best practices into Finland.

“We are making these investments to gain in-depth knowledge of how foreign companies operate on international markets. Our aim is to utilise this knowledge in the internationalisation of Finnish companies. We will continue to invest within our focus areas as defined in our strategy. This principle also applies to the direct investments made in foreign companies,” says Magnus Sjöblom, Director of Finance and Corporate Funding.

“We wanted to test with a defined sum, what kind of added value a close involvement in an international company would bring to our programmes. We are willing to try new things, that is the basic function of Sitra,” Sjöblom adds.

US-based Efficas as the first investment

Sitra’s first investment (US$ 1,5 million) in a foreign company in accordance with it’s focus area strategy was made in US-based Efficas, Inc. Efficas is a consumer focused health-science and technology company. The company has built its research, development and commercialisation activities on the foundation of rigorous science, including clinical trials, safety testing and regulatory submissions in the development of its patented nutritional bioactives which are delivered in medical and functional foods. The company’s aim is to improve the quality of life of those suffering from illnesses related to the immune system. Such illnesses include asthma and allergies.

Investing in Efficas is in line with the goals of Sitra’s Food and Nutrition Programme, ERA. The programme works at improving the international competitiveness of the Finnish food industry.

The field have selected healthy nutrition as its focus area, as this is an area in which Finland has special competence. The industry agreed that the greatest challenge is to gain stronger competence in commercialisation.

“Efficas’ employs a senior management team with significant industry experience having a successful track record in the development and commercialisation of nutritional products. Being involved with the management of Efficas will give us a unique opportunity to learn and build networks between Finnish and US players,” says Anu Harkki, Executive Director of the ERA Programme.

Further information

Magnus Sjöblom, Director of Finance and Corporate Funding, tel. +358 9 6189 9465

Anu Harkki, Executive Director, Food and Nutrition Programme, ERA, tel. +358 9 6189 9458

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