Newsletter of University of Oulu, Kerttu Saalasti Institute | 5.5.2023
Hi,
You are most warmly welcome to read the first English newsletter of the University of Oulu Kerttu Saalasti Institute.
We at the University of Oulu Kerttu Saalasti Institute provide evidence-based knowledge and competence on micro-enterprises and their operating conditions. As a research institute focusing on micro-entrepreneurship, future manufacturing technologies and regional excellence, we produce information with an international influence. We are responsible for micro-entrepreneurship research and education at the national level. Kerttu Saalasti Institute’s strength is the societal impact of research.
We have more than forty researchers and specialists including 1 professor, 3 docents, 3 research directors, and fourteen doctoral level researchers. We provide e-learning on micro-entrepreneurship at the Open University or at the University of Continuous Learning (JOY). Our project volume is about 40 projects with funding of 3M€ / year. In the network of companies and partners we have more than 500 clients and partners on yearly basis. Now, we have 105 partners in 37 countries and counting. Partnerships, research projects, co-publications and visits make a significant impact worldwide. University of Oulu performs in the major university rankings within global top 3%.
The latest Research Assessment Exercise – research quality assessment conducted by an international panel rated us in research as “excellent” (5/6) and the societal impact of research rated as “outstanding” (6/6).
In this newsletter we want to share with you some highlights of our current activities. Read about resent research findings from Global Entrepreneurship Monitor and metal 3D printing, greet our visiting scholar in Australia, get to know how Horizon Europe project aims towards more socially and environmentally friendly critical raw materials exploration and excavation and much more. If you have recently moved to Finland, this may be for you: we introduce a new online course on Living as an entrepreneur in Finland. Moreover, through this newsletter you get access to rich resources of our most recent podcasts, videocasts and blogs – enjoy and learn!
I sincerely hope that these news and concrete examples of activities inspire you to reach out to us with ideas for co-operation.
May you have a successful spring and early summer!
Best regards,
Matti Muhos
Director, Professor, title of Docent, Dr.Sc. (Tech.)
University of Oulu Kerttu Saalasti Institute
matti.muhos@oulu.fi
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NEWS
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Still untapped entrepreneurial potential in Finland, the report shows - the fear of failure prevents starting a company
Many aspects of entrepreneurship have developed positively in Finland, but there are also issues of concern, according to the Finnish Global Entrepreneurship Monitor report carried out by the University of Oulu's Kerttu Saalasti Institute. The research revealed that an increasing number of Finns of working age believe that there are good conditions for starting a business in Finland. However, respondents' intentions to start a company in the next few years have somewhat decreased compared to 2015, when, for example, the development in Sweden is clearly better. The respondents felt that they would have better know-how to start a business compared to before, but the fear of failure prevents more and more Finns from becoming entrepreneurs. In the study, almost 2,000 Finnish people of working age and 37 entrepreneurship experts were interviewed.
Towards urban sustainable lifestyles by 2030 by exploring mobility
The Transformative cities project, which started in early 2023, will develop and test new methods and interventions to support the transformation towards carbon neutrality, biodiversity conservation and urban sustainable lifestyles by 2030.
Research publication: Crisis management of solo entrepreneurs in the early stages of the COVID-19 pandemic
The Microentrepreneurship Research Group at the Kerttu Saalasti Institute at the University of Oulu has published a study in the Nordic Journal of Business describing the crisis management of Finnish sole entrepreneurs during the first months of the COVID-19 pandemic. In March-June 2020, nine entrepreneurs from different regions and different industries participated in the multi-case study, describing the impact of the acute crisis situation on their business and the management solutions and prospects they had made.
Anna-Mari Simunaniemi travelling for a research visit to Melbourne, Australia
Anna-Mari Simunaniemi, Research Director for Microentrepreneurship, is travelling to Melbourne, Australia on 29th March 2023 for a research visit. The host university is the School of Business at La Trobe University. During the six-week stay, Simunaniemi will also familiarize herselfwith research activities at the University of Tasmania's Department of Business and Economics.
University of Oulu develops new types of orthopaedic implants using metal 3D printing
Additive manufacturing, or commonly named 3D printing, is growing rapidly in the metal industry. Medicine was one of the first fields to commercialise the technique, but its use in this field is still largely concentrated in dentistry and tool making. The next step for 3D printing will be its use in more demanding orthopaedic implant applications, where surgeons currently must rely on standard-sized machined implants without the possibility of customisation.
EU funding of 2 M€ for a Nordic project for the development and implementation of metal direct energy deposition methods in companies - Universities of Oulu and Lappeenranta involved with a budget of 1.1 M€
The new joint Nordic research consortium's Implementation of DeD AM in future manufacturing (IDiD) -project aims to promote the introduction of metal direct energy deposition methods in companies. Direct Energy Deposition (DeD) is a 3D printing method that opens new possibilities to produce large and demanding parts. The project received a total of 2 million Interreg Aurora funding, of which the Finnish research groups' share is approximately 1.1 million euros. The main implementer of the project is the University of Oulu's Future Manufacturing Technologies (FMT) research group, and the other implementers are the Lappeenranta University of Technology (LUT), Luleå University of Technology (LTU) and UiT - the Arctic University of Norway.
Europe and its green and digital transition: where and how to get the necessary critical raw materials?
The EU's green and digital transition goals are vital for reducing Europe's carbon dioxide emissions. Among these goals are the electrification of mobility, the transition from coal-based energy production to renewable energy sources, and the development of new technologies and techniques for storing and distributing clean energy. However, producing clean technologies requires huge amounts of metals and minerals. The international AGEMERA project, led by the University of Oulu, Finland, will find out how this can be done following the requirements of the green transition. The project has received funding of 7.5 million euros. At the University of Oulu, October 4-7, 2022, more than 50 consortium members participated in the project kick-off event.
Callio Lab becomes an art and science residency
Callio Lab, a multidisciplinary research environment located in the Pyhäsalmi mine, will be transformed into an art and science residence for two months in the More-Than-Planet project. Photo North - The Northern Photography Centre organizes residencies for 2023 and 2024. The Deep residency will involve working in and around the underground research station. The project asks: what kind of future are we heading towards? What new perspectives, knowledge and solutions can we re-imagine in an era of accelerating environmental change?
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TRAINING
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Introduction to micro-entrepreneurship in Finland (OPEN UNI)
The course will provide comprehensive understanding of the field of micro-entrepreneurship in Finland. The course is designed for those who are interested in having a successful career as an entrepreneur.
The student gets helpful tools for financial and business planning that can be utilized to support future and current entrepreneurs in both planning and running a micro-enterprise in Finland. Additionally, participants are provided with links to relevant documentation, authorities and entrepreneurship networks in Finland.
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PODCASTS AND VIDEOCASTS
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Living as an entrepreneur in Finland – tips for a budding entrepreneur to Micro Entrepreneurship in Finland
Starting a business is easy in Finland, but there are many things involved that are good to know before setting up a company. Why should you write a business plan? Which networks should you take part in? Do you have to learn Finnish to gain success? These and other first steps of a beginning entrepreneur are discussed by entrepreneur and Project Specialist Pamela Spokes and Network Manager (Migrant, young and creative entrepreneur networks) Sari Laitinen from Suomen Yrittäjät. Hosted by Markus Rytinki from Micro-entrepreneurship Center MicroENTRE.
Introduction to Micro Entrepreneurship in Finland
What are the pros and cons of light and part-time entrepreneurship? In this MY Studio Videocast Markus Rytinki, David Delahunty and Monika Luukkonen from the University of Oulu discuss company types and other relevant issues for a starting entrepreneur.
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BLOGS
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Look in the mirror - a more equal society increases entrepreneurship
In a global comparison, Finland is a fairly equal society by all measures, and this is something to be proud of. In general, the labor force between the ages of 20 and 64 is relatively equal: it is divided into 48% women, 52% men, while 49% women and 51% men are among the entire population of this age.
"Finland in all weathers" - Finnish tourism on display in Warsaw
Making contacts with international partners is crucial in any industry, but especially in tourism. Opportunities to meet potential customers at international fairs and in person are particularly rewarding for entrepreneurs. In March 2023, a group of Finnish tourism companies met important contacts at the Warsaw Travel Fair.
Findings on tourism in sparsely populated areas in the Nordic Region - but the growing interest also has its downside
The corona pandemic accelerated the intense pressure for change in the tourism industry brought about by climate change, which has been reinforced by the huge enthusiasm of tourists for nature destinations. My discussions with Norwegian and Swedish tourism entrepreneurs and developers at the end of January and beginning of February confirmed that the sparsely populated areas of northern Europe are living with a new reality after the pandemic. Both the opportunities and the challenges have changed.
International experts to regional cities
Finland needs more international experts because the number of working-age people is decreasing. According to the Ministry of Economic Affairs and Employment in Finland, the number of people working will decrease without immigration, which affects both the economic dependency ratio and the fiscal sustainability gap. MicroENTRE is participating in the SEUTUKAUPUNKIrekry project, led by Yrityssalo Oy, which promotes international recruitment and the attractiveness of labor-shortage sectors in regional cities.
Valuation and financing in the event of a business transfer
When planning a change of ownership (business transfer) of a company, the focus is always on determining the value of the company. Ownership can change in many ways, but it is always necessary to establish a price for the company, based on which negotiations with potential buyers or investors can begin. There are many ways of determining the value and each involves a considerable amount of speculation. No single method gives a perfect answer to the true value of a company, especially for unlisted companies. Fair value is ultimately determined by the buyer and seller reaching an agreement on the purchase price.
Growth management research to support business growth
The growth of businesses is a sign of economic development, dynamism, and renewal. Growth-oriented companies have a desire to do bigger and smarter things. Growth gives companies more resources to fulfill their purpose - why they exist. Growth is also good for the long term, because there is a positive relationship between the size of a business and survival. Growing firms also invest more than other firms and have positive externalities, often the most important of which is that they create new jobs.
Meaningful encounters are built on trust - respect and appreciation at the heart of international and intercultural communication
In global collaboration and business, where the most physically distant colleague or customer may be the closest partner on their computer screen, in global collaboration and business, where the most physically distant colleague or customer may be the closest partner on their computer screen, it is increasingly important to remember the cultures we live in, each in our own environments. Academic communities, international organizations or individual multicultural projects can work well within their own cultural norms, even if they include representatives from countries with hierarchical power relations as well as those with egalitarian ones, from countries that prefer individualism or collectivism, and from countries that are more or less tolerant of uncertainty or of an elastic concept of time. To find common understanding in international encounters, it is essential to find a sense of trust in that other person, whatever their cultural background. Common denominators can be found in surprising places, it is increasingly important to remember the cultures we live in.
Micro and small enterprises play an important role in the vitality of regions’ business and economy – investments in entrepreneurial competence should be made as part of education
Regional demographic and economic polarisation pose challenges to the welfare of society. Small enterprises and a significant number of micro-enterprises have strong potential as producers of innovations, jobs and growth companies in different regions. The economic and employment impacts of small enterprises are particularly emphasised in rural, remote, and restructured municipalities. At the same time, support is needed particularly by young people for the creation of new businesses.
New underground positioning technology improves safety in mines – experiments in Pyhäsalmi mine are part of a project improving mine technology by an AI platform
In the EU-funded Goldeneye project, a new artificial intelligence platform is being developed to improve the safety and profitability of mines. Experiments were conducted in Pyhäsalmi mine, Pyhäjärvi, Finland in August-September 2022 on how remote mapping data produced by satellites, sensor data measured by drones and data recorded in mining areas can be combined in an underground mining environment. GPS-guided drones have not been used inside mines before. The results of the trials are promising.
Location independence challenges experts, employers, and municipalities
Multi-locality refers to everyday life in several spatial and operationally separate places, and movement between them. Remote work and multi-locality, which often go hand in hand in practice, became part of the everyday life of many people at the latest in the acute phase of the coronavirus pandemic. This was particularly the case with those engaged in expert work. Remote work and the opportunity to change the physical work environment in a multi-locational manner increase the freedom experienced by the employee, provide flexibility in terms of working hours, and enable, for example, more versatile use of holiday homes. It is sometimes forgotten that opportunities to work remotely mainly concern the highly educated part of the population and expert tasks, whereas a large part of work carried out in the service and care sector cannot be done remotely.
Wounded: effects of the coronavirus crisis on micro-entrepreneurs, and their recovery
Our entire society was extensively affected by the coronavirus pandemic. The sudden crisis in the operating environment that came from outside put many micro-enterprises in a tricky situation, the effects of which can be, figuratively speaking, referred to as wounds. The implications of the coronavirus crisis on companies were physical, mental, and economic. In addition to actual business activities, the effects could also be felt by the entrepreneurs themselves or their family and friends.
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