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Release 04.12.2023

Finnish Metaverse ecosystem is the first in Europe to create a Metaverse Initiative

In an era marked by unprecedented technological progression, the Metaverse emerges as a pivotal innovation set to pervade all forms of business, trade, and industry, as well as the daily lives of individuals. The Finnish Metaverse ecosystem is the first in Europe to create a Metaverse Initiative, and one of the first to do so globally. The objective is to play a key role in shaping the future of digital experiences, focusing on developing the Metaverse ethically and responsibly. This includes prioritizing privacy, user safety, and considering its overall societal impact.

Launched by Business Finland, VTT Technical Research Centre of Finland and the University of Oulu, the initiative was created in close cooperation with 400+ members of the Finnish ecosystem and some of the most prominent Finnish large and SME companies, including major players like Nokia, KONE, Varjo, and Dispelix. The industry in Finland is projected to achieve a €30 billion volume by 2035, supported by an ecosystem estimated to encompass over 250 companies.

The Metaverse, often regarded as a digital twin of reality, represents the next revolution of the Internet. Essentially an immersive virtual world, it comprises two fundamental elements: the immersiveness brought about by XR technologies and the virtuality inherent in its digitally created worlds.

In the Metaverse, a suite of technologies converges to transform the way we work and interact, offering human-centric solutions for remote work, teleoperations, and AI-assisted environments. Digital twins and collaborative robotics streamline processes across diverse sectors including manufacturing, construction, and agriculture, enhancing productivity and efficiency while enabling appealing future careers and wellbeing at work for the workforce of the future. This technological integration enhances safety and bolsters sustainability in vital sectors such as energy and transportation, marking a significant leap in how industries operate.

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