SITRA: Difference between revisions
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'''Sitra''' ({{lang-fi|Suomen itsenäisyyden juhlarahasto}}), the Finnish Innovation Fund, is an independent public [[Foundation (nonprofit)|foundation]] which operates directly under the supervision of the [[Finnish Parliament]]. Its endowment was valued at 771 million euros in 2017.<ref>https://www.eduskunta.fi/FI/vaski/JulkaisuMetatieto/Documents/EDK-2016-AK-58753.pdf</ref> Its duties are stated in legislation: the objective of the foundation is "to promote stable and balanced development in Finland, qualitative and quantitative economic growth and international competitiveness and cooperation", by means of supporting "projects that increase the efficiency of the economy, improve the level of education or research, or study future development scenarios".<ref name="Laki1990">"Rahaston tavoitteena on edistää Suomen vakaata ja tasapainoista kehitystä, talouden määrällistä ja laadullista kasvua sekä kansainvälistä kilpailukykyä ja yhteistyötä toimimalla erityisesti sellaisten hankkeiden toteuttamiseksi, jotka vaikuttavat kansantalouden voimavarojen käyttöä tehostavasti tai tutkimuksen ja koulutuksen tasoa kohottavasti taikka jotka selvittävät tulevaisuuden kehitysvaihtoehtoja." https://www.finlex.fi/fi/laki/ajantasa/1990/19900717</ref> Sitra was founded in 1967 as a part of the [[Bank of Finland]], on the country’s 50th anniversary. However, most of the value of its current endowment comes from a donation of [[Nokia]] stock from the Finnish Parliament in 1992.<ref>https://www.hs.fi/talous/art-2000005035009.html</ref> |
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'''Sitra''' ({{lang-fi|Suomen itsenäisyyden juhlarahasto}}), the Finnish Innovation Fund, was founded in 1967 as a part of the [[Bank of Finland]]. Currently it is an independent public foundation which operates directly under the supervision of the [[Finnish Parliament]]. Sitra aims to make Finland succeed as a pioneer of sustainable well-being by anticipating the direction societal trends are taking, exploring alternatives for development, and bringing together partners from different sectors for open-minded trials and reforms.<ref name=factsaboutsitra>[https://www.sitra.fi/en/topics/facts-about-sitra/#what-is-it-about "Facts about Sitra"] Sitra. Retrieved 13 June 2017.</ref> |
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| ⚫ | Sitra’s operational independence has been further strengthened by its funding model. It is not answerable to the [[Council of State (Finland)|government]] in power and does not depend on the state budget; instead, its operations are funded with the profits of its endowment and the profits of its operations. According to law, the funds must be invested securely and in a profitable manner. The return from Sitra’s endowment averages at approximately 30 million euros a year. Sitra does not spend the core endowment or receive any tax-generated government funding. While Sitra can be compared to [[Business Finland]], their roles are different: Sitra invests in companies and startups to create new profitable business, while Business Finland is a part of the government through a ministry and funds research in companies or universities without an explicit [[profit motive]]. |
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Sitra’s organizational structure makes it an internationally unique operator in the field of sustainable development and well-being. Sitra was a present given by Parliament to Finland on the country’s 50th anniversary. Its duties are stated in legislation. Although Sitra operates directly under the Finnish Parliament, it is not answerable to the government in power, nor to a certain party or a trend at any time.<ref name=factsaboutsitra/> |
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| ⚫ | Sitra’s operational independence has been further strengthened by its funding model. |
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Sitra’s independent position has enabled it to bring government, officials, researchers, artists, companies, and NGOs together to work for the better tomorrow.<ref name=factsaboutsitra/> |
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==Operations== |
==Operations== |
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Revision as of 10:47, 17 January 2018
| Finnish: Suomen itsenäisyyden juhlarahasto | |
 Sitra's former headquarters in Ruoholahti, Helsinki | |
| Agency overview | |
|---|---|
| Formed | 1967 |
| Type | independent fund |
| Headquarters | Ruoholahti, Helsinki |
| Agency executive |
|
| Parent agency | Parliament of Finland |
| Website | www |
Sitra (Finnish: Suomen itsenäisyyden juhlarahasto), the Finnish Innovation Fund, is an independent public foundation which operates directly under the supervision of the Finnish Parliament. Its endowment was valued at 771 million euros in 2017.[1] Its duties are stated in legislation: the objective of the foundation is "to promote stable and balanced development in Finland, qualitative and quantitative economic growth and international competitiveness and cooperation", by means of supporting "projects that increase the efficiency of the economy, improve the level of education or research, or study future development scenarios".[2] Sitra was founded in 1967 as a part of the Bank of Finland, on the country’s 50th anniversary. However, most of the value of its current endowment comes from a donation of Nokia stock from the Finnish Parliament in 1992.[3]
Sitra’s operational independence has been further strengthened by its funding model. It is not answerable to the government in power and does not depend on the state budget; instead, its operations are funded with the profits of its endowment and the profits of its operations. According to law, the funds must be invested securely and in a profitable manner. The return from Sitra’s endowment averages at approximately 30 million euros a year. Sitra does not spend the core endowment or receive any tax-generated government funding. While Sitra can be compared to Business Finland, their roles are different: Sitra invests in companies and startups to create new profitable business, while Business Finland is a part of the government through a ministry and funds research in companies or universities without an explicit profit motive.
Operations
In practice, Sitra’s work consists of research, studies, trials, pilots, events, and training that are all closely related to Sitra's three strategic themes. These strategic themes present the most central challenges for the future sustainable well-being in Finland.[4] The themes are:
Capacity for Renewal
The theme aims to strengthen the ability and will of Finnish society to renew itself. In recent years, Sitra has introduced the groundbreaking data exchange layer concept, the youth work approach and information system Tajua Mut! (Get me!) and the Palvelutori concept for senior citizen services. Sitra has also promoted the drafting of the national genome strategy and created the virtual clinic concept, which is unique even by international standards.[5]
A Carbon-Neutral Circular Economy
The goal of the theme is to build sustainable everyday life based on a circular economy, where well-being is not built upon the overconsumption of fossil fuels. Recently, Sitra has for example published the world’s first national road map for a circular economy and launched trials of the road map.[6] In addition, Sitra was the main organizer of the world's first World Circular Economy Forum in 2017. The event gathered the world’s top business leaders, policymakers, researchers, and innovators to present the world’s best circular economy solutions on 5-7 of June in Helsinki.[7]
New Working Life and a Sustainable Economy
The theme promotes efforts to find new solutions for work and the economy, experiments with those solutions and helps guide their practical implementation. Among other things, Sitra has build an ecosystem for impact investing and launched the first social impact bonds in Finland.[8].
References
- ^ https://www.eduskunta.fi/FI/vaski/JulkaisuMetatieto/Documents/EDK-2016-AK-58753.pdf
- ^ "Rahaston tavoitteena on edistää Suomen vakaata ja tasapainoista kehitystä, talouden määrällistä ja laadullista kasvua sekä kansainvälistä kilpailukykyä ja yhteistyötä toimimalla erityisesti sellaisten hankkeiden toteuttamiseksi, jotka vaikuttavat kansantalouden voimavarojen käyttöä tehostavasti tai tutkimuksen ja koulutuksen tasoa kohottavasti taikka jotka selvittävät tulevaisuuden kehitysvaihtoehtoja." https://www.finlex.fi/fi/laki/ajantasa/1990/19900717
- ^ https://www.hs.fi/talous/art-2000005035009.html
- ^ "The Future is made today - Annual report and financial statements 2015" (PDF). Sitra, 16 March 2016.
- ^ Capacity for Renewal Sitra. Retrieved 13 June 2017.
- ^ Carbon Neutral Circular Economy Sitra. Retrieved 13 June 2017.
- ^ World Circular Economy Forum 2017 Sitra. Retrieved 13 June 2017.
- ^ New Working Life and Sustainable Economy Sitra. Retrieved 13 June 2017.
See also
External links
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