Finnish Innovation Index

The Innovation Index is designed to highlight the perspective of consumers. This is because consumers, rather than experts or business representatives, are the most important stakeholders for assessing a company's innovation capacity.

The Finnish Innovation Index (FII) methodology has been developed at the Hanken School of Economics, enabling the ranking of the most innovative companies based on assessments from Finnish consumers. What sets FII apart from other rankings is its focus on measuring perceived innovativeness directly from the customer standpoint, rather than relying on broad attitudes, expert evaluations, or R&D expenditures. Perceived innovativeness, in this context, denotes a subjective evaluation of how customers perceive a company's ability to create and provide new and valuable solutions.

Firms are selected based on the following criteria's:

• Household expenditure: Firms included in the innovation index represent 70% of the Finnish consumers jointly household spending

• Market share: The companies have a 70% market share in their respective industries