Business Angel Investment, Public Innovation Funding and Firm Growth

The purpose of this economic impact study was two fold: first, to investigate the significance of business angels in Finland and second, to investigate the significance of both Business Finland funding and business angel investment for startups. The main finding of this 
study was that startups funded by Business Finland increase their employment and net sales. In contrast, there is less indication of increased growth in startups funded by both Business Finland and business angels.