Finland’s space industry takes off

Finland’s research-driven innovation has spawned notable spin-offs in recent years like Solar Foods (food technology), Spinnova (green textiles), Onego Bio (food technology, again) and Dispelix (waveguide combiners for VR). Yet, for all this success, there is a duo of Finnish companies that are taking the phrase ‘reach for the stars’ quite literally.

Both ICEYE and Kuva Space originate from Aalto University’s student-built Aalto-1 and Aalto-2 satellites from 2017 and in the years following have led some pioneering developments in the space economy sector.

With cutting-edge satellite constellations, ICEYE monitors natural disasters in near real-time, aiding governments and insurers. ICEYE’s launch of the world’s first sub-100 kg SAR microsatellite in 2018 has since ballooned to a current portfolio of 44 satellites and 500 million US dollars in funding.

“ICEYE has experienced unwavering momentum over the past few years,” said CFO Susan Repo, after ICEYE raised 158 million US dollars in 2024.

Meanwhile, Kuva Space has also continued its upward trajectory from its student days. The company is developing the world’s first large-scale microsatellite constellation, equipped with patented hyperspectral camera technology, to provide continuous data for addressing critical global challenges, including climate change, food security and public safety – in short, a situation specific Google Earth.

“We are the eyes in the orbit that are looking down and seeing what is happening on the surface of the Earth, with all the bioresources and human activities,” said Kuva Space CEO Jarkko Antila, “and we provide this information to our customers.”

ESA and Finland – a partnership that’s out of this world

For all the breakaway business of ICEYE and Kuva Space, Finland’s space industry remains one anchored in research and with far reaching impact.

A major force in this development is the European Space Agency (ESA), which has partnered with Finnish institutions on various occasions to foster space innovation. ESA BIC Finland, part of the ESA BIC network, is actively supporting growth and development in the sector, with initiatives such as offering aspiring entrepreneurs 90 000 euros in funding, technical expertise, and business matchmaking to startups.

ESA has also launched the Phi-Lab Finland innovation programme, coordinated by Aalto University with support from the Finnish Meteorological Institute, the National Land Survey of Finland, and the University of Vaasa.

“The projects selected for ESA Phi-Lab Finland will focus in particular on remote sensing technologies and environmental monitoring applications, as well as the development of navigation technologies,” said Tomi Erho, director of innovation services at Aalto University.

ESA is contributing 5.2 million euros in funding for this six-year project, with 4.4 million euros allocated directly to support selected projects. The total budget for the activity is approximately 11 million euros.

Lapland’s Arctic Space Centre, where science meets the sky

The European Space Agency is also involved in developments further north. ESA, the Finnish government, and the Finnish Meteorological Institute have taken the first steps toward establishing a ‘supersite’ for Earth observation calibration and validation in Sodankylä, Finnish Lapland.

The Finnish Meteorological Institute’s Arctic Space Centre in Sodankylä will be transformed into a world-class site for Earth science, calibration, and validation. The centre’s location, surrounded by boreal forest, is ideal for satellite data validation.

“The new centre will significantly enhance the impact of Finland's space activities internationally and creates growth opportunities for Finnish space activities and industry while improving scientific knowledge,” Petteri Taalas, director general of the Finnish Meteorological Institute, added.

This initiative will not only improve satellite-based data quality but also stimulate new services and technologies relevant to the Arctic.

Nokia’s 4G on the Moon bringing bars to the stars

This year also saw Finland join NASA's Artemis Accords, which set a common framework for operations on the Moon and Mars. The agreement outlines a set of rules for activities in outer space, including on the Moon, comets, asteroids, and in the orbits of the Moon and Earth, extending to Mars.

Nokia and Axiom Space have also partnered to bring 4G/LTE capabilities to spacesuits for NASA’s Artemis 3 lunar mission. The advanced suits will enable high-definition video, telemetry and voice communication over long distances on the Moon.

“Adding high-speed 4G/LTE network capability on the Moon will serve as a vital bridge linking astronauts to Earth,” stated Russell Ralston, Axiom Space's executive vice president of extravehicular activity.

This partnership is part of Nokia’s broader plan to establish the first cellular network on the Moon.

“Just as astronauts will need life support, shelter and food, they will need advanced networks to communicate with each other,” noted Thierry E. Klein, president of Bell Labs Solutions Research at Nokia.