Finnish Innovation Index 2024 reveals top innovative companies

The Finnish Innovation Index (FII) has named BeyondMeat, MeEat, and Oatly as the most innovative companies in Finland for the year 2024. This ranking, curated by Hanken School of Economics, showcases the companies that Finnish consumers consider as pioneers in innovation, particularly emphasizing those that have notably impacted society and the environment.

This year's index introduces a new measure of evaluating a company’s responsibility and fairness in marketing practices, a timely addition that reflects growing consumer expectations and impending EU regulations aimed at ensuring transparency and sustainability in marketing claims.

"The update to include responsible marketing practices is crucial in today's regulatory environment and consumer market," explained Professor Kristina Heinonen, who leads the FII project at Hanken. "It underscores the importance of not only innovating but also how companies communicate and uphold their ethical commitments in a transparent manner."

The plant-based food and beverage industry is particularly prominent in this year's index, indicating a significant consumer shift towards sustainable and ethically marketed products. Other companies that made it to the top of the list include well-known brands like Ikea, Marimekko, and Fazer, as well as Fiskars, Lumene, Sokos Hotels, and Neste, highlighting a diverse range of industries committed to innovation.

The findings of the FII were derived from over 23,000 responses collected from 5,800 consumers, who assessed the innovativeness of 77 companies across 17 different categories.

Finnish Innovation Index 2024 Hanken School of Economics

The full results of the survey will be discussed in detail at the "Hanken Insights – Innovation for a Sustainable World" seminar. Scheduled for April 25 at the Hanken School of Economics in Helsinki, the event will feature a panel discussion with representatives from top-ranked companies, including Alain Mavon from Lumene and Petteri Ruska from MeEat Food Tech Oy, among others. The discussion will focus on the key strategies these companies employ to maintain their edge in innovation and their outlook on future trends in sustainable practices.

This seminar promises insightful debates on the integration of innovation with ethical business practices and is expected to draw attention from industry leaders, policymakers, and academics interested in the convergence of innovation, responsibility, and market success.

HT