Australian policy makers are looking to Finland for inspiration in their drive to bring the nation closer to the dream of thriving technological innovation. The country’s president and other Finnish representatives are in Sydney to share with Australian researchers the strides the nation has made in the past three decades. Home of companies such as Nokia, the world’s largest mobile phone manufacturer, Finland has captured the attention of governments looking to shift their economic base away from traditional industries towards a more innovative focus.

Finland’s research and development spend accounts for 3.5 per cent of its gross domestic product (GDP), a higher percentage than that of most European Union nations. It intends to lift this percentage to four per cent by 2010. Australia’s spending on research in comparison was 1.8 per cent of GDP in 2004/05, below the Organisation for Economic Cooperation and Development (OECD) average of 2.3 per cent.