A national innovation system can be defined as the system of organisations and actors whose activities and interaction determines the innovativeness of the national economy and society. The national innovation system of Finland has been highly successful in recent years. The telecommunications cluster has rapidly become the third pillar of the Finnish economy besides the forest and metal clusters. However, the current success does not guarantee future success. During the current transformation of the world economy, the Finnish innovation system cannot remain competitive without continuous and effective development effort. This requires fresh knowledge about the key challenges of the system. Producing such knowledge was the main goal of Sitra’s Research Programme on the Finnish Innovation System. This report presents the main findings and conclusions of this research programme.