Unlocking Industrial 5G
5G networks are rolling-out around the world in advanced early adopter markets including Finland and this represents a huge opportunity for Nokia to make significant progress in digitalization and industrial 5G. Alongside consumer-oriented 5G services, industrial 5G, in vertical sectors such as mining, energy, manufacturing, automotive, shipping or airports, will catalyze large-scale digitalization across industries, resulting in massive change. There are unprecedented opportunities to increase safety, sustainability and efficiency through the deployment of these new 5G-based technologies.
Finland is known for its well-functioning public-private innovation ecosystem. The Finnish government has a strong track record of using innovation funding to drive the Finnish economy and businesses. Based on Nokia’s experience, the most successful public-private partnership funds are directed to research areas with the best business opportunities. Equally important is to create ecosystems where companies can work together with top researchers and academic institutions.
Nokia was recently selected as one of the leading companies in Business Finland’s ‘Veturi’ challenge. Business Finland is run by the Finnish Ministry of Employment and the Economy and is designed to promote innovation funding and trade, travel and investment. The project is called “Unlocking Industrial 5G”, and will allow us to innovate new products, services and solutions in Finland and develop and commercialize them together with the companies in the local ecosystem.
Industrial 5G provides significant business opportunities for Nokia and Finland in the mid-term and as part of the Veturi program, Nokia plans to invest approximately 50 million euros in 5G R&D in Finland over a three-year period. Nokia supports the target of increasing R&D intensity in Finland to 4 percent of GDP by 2030, and we have estimated that Nokia’s participation in the program will contribute towards this goal.
Nokia aims to hire more people into its R&D teams. However, the Veturi program helps to create new jobs and business opportunities outside of this. Finland is a great place to fast track the development, verification, validation and testing of these new solutions with ecosystem partners. Nokia will also create additional R&D projects with its partners, to address selected industry segments. These projects will have the opportunity to apply for additional funding from Business Finland during the Veturi program.
Nokia’s participation in the Veturi program will involve all Nokia business groups with currently active R&D in Finland: Mobile Networks, Nokia Software, Global Services, Nokia Technologies, Nokia Enterprise, and Nokia Bell Labs with its world leading research. Nokia Bell Labs will use its Future-X Lab as the testing ground and demonstration platform.
We look forward to Unlocking Industrial 5G here in Finland and working with Business Finland and the whole Finnish ecosystem. Stay tuned as we continue to blog about the next steps in a series of deep dives into different industry segments.
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Read the article in Finnish at Business Finland website: Suomesta teollisuuden 5G-verkkojen edelläkävijä