Helsinki Ring of Industry have innovated their work with Foreign Direct Investments and marketing. Teknologiakeskus TechVilla Oy selected Future Place Leadership to support them in this task. The aim – the municipalities that surround the capital of Finland want to increase foreign direct investment in the region.
We helped them do that. In addition, we provided a systematic approach to investment promotion to guide the marketing and branding of the Helsinki Ring of Industry. Marketing was included, but now in a larger plan for a broader strategic initiative – a Business Attraction Management Strategy and Marketing plan. Finally, we delivered an Action Plan, a living document that systematically lists and monitors progress when working according to Business Attraction Management (BAM).
How did we help?
Future Place Leadership has interviewed key stakeholders regarding the current situation in the municipalities and the region. Helsinki Ring of Industry is a new FDI marketing brand, which represents the industrial networks, technology, and talent located in ten cities and municipalities that surround the Helsinki metropolitan area (Helsinki, Espoo, Kauniainen, and Vantaa). The cities and municipalities are: Hyvinkää, Järvenpää, Kirkkonummi, Kerava, Mäntsälä, Nurmijärvi, Pornainen, Sipoo, Tuusula, and Vihti. In Finland, they are referred as the ”KUUMA-region”
One of the objectives of the interviews is to identify some of the strengths and opportunities available to the Helsinki Ring of Industry. These strengths are also essential when it comes to formulating messages and arguments (place value propositions) to specific investor segments. Also, it helps identify gaps or weaknesses which could be mitigated and exploited in the long term.
As is true of other geographical areas, the strengths and opportunities that the Helsinki Ring of Industry represent, need to be assessed in the light of who the potential investor is. A large international company will have different requirements and expectations compared to a domestic small or medium sized enterprise, or an entrepreneur, who is looking to start up an entirely new business. In order to gauge different types of potential investors we invited the key stakeholders to carry out an on “ideal investor” exercise in workshop format.
During the workshops and meetings the participants agreed to hold regular meetings, hosted by one municipality at a time, as a way to consolidate the Business Attraction Management team, and be able to systematically implement the strategy and action plan.
Based on the BAM strategy and marketing plan as a whole, and on the strategic recommendations above, there are several actions which will be taken to implement the strategy. One of the objectives of the Action Plan is to ensure that Helsinki Ring of Industry does not only merely initiate marketing activities, but supports long term development in each of the BAM phases, hence making it a strategic initiative.
In fact, a recurring theme of this strategy and plan is the need to reinforce a new mindset: that Helsinki Ring of Industry is not an outlet for plots of land, but a place of opportunity to which businesses relocate in order to achieve success. This will change how they work, in turn allowing them to provide to conditions for companies that will change and disrupt industries and technological solutions.
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