Finland’s strategy to lead the metaverse Industry by 2035

Finland’s strategy towards metaverse leadership is grounded in collaboration, inclusivity, and a diverse ecosystem. It sets practical objectives, emphasising ethical considerations and specific sectoral applications rather than hyped expectations.

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Finland has recently unveiled its strategic plan aiming to position itself as a global leader in the burgeoning realm of the metaverse by 2035. The Finnish government’s detailed strategy, outlined in the report titled ‘Metaverse Initiative by the Finnish Ecosystem: Virtual Potential into Real-World Impact,’ lays down a roadmap for the country’s ambitious goal.

Strategic Objectives and Vision

By setting a target of surpassing €30 billion in annual industry turnover by 2035, Finland’s strategy aligns with the UN’s sustainable development goals. Key objectives revolve around sustainability, emissions reduction, circularity, improved well-being, and fostering social cohesion through metaverse development.

Core Principles

Finnish values, such as collaboration with other nations and leveraging its geopolitical positioning, form the backbone of the country’s strategy. Emphasising mutual trust among global actors, Finland aims to create a diverse and dynamic metaverse ecosystem that transcends singular dominance by a company or country.

Tech Focus and Sectoral Impact

Recognising the critical role of various technologies—extended reality, telecommunications, computing (including quantum technologies), Artificial Intelligence, fintech, gaming, and metaverse environments—Finland’s strategy highlights their integration into metaverse development. The emphasis on specific sectors like society, healthcare, and industries aims to avoid vagueness and ensure focused advancements.

Inclusivity, Ethics, and Digital Rights

A key pillar of Finland’s approach involves ensuring inclusivity and accessibility for all individuals, irrespective of their backgrounds or abilities, within the metaverse. Prioritising digital rights, ethics, user privacy, security, autonomy, digital literacy, democracy, transparency, and accountability are central to the country’s governance and development principles.

Action Plans

The report presents actionable steps across various categories, including technology enablers, business networks, metaverse society, metaverse health, and industrial metaverse. Strategies include setting up research consortia, promoting business cooperation, talent attraction, organisational participation, and regulatory frameworks for metaverse technologies. Additionally, there’s a focus on public education and accessibility through hubs and public spaces.