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ICT a bond between Florida and Finland?

“ICT has been ranked among Florida’s top industries”

Today it is very difficult to find an industry or an individual business – or even a consumer – that does not depend on digital information. Florida is known to have a perfect business climate for businesses operating or aiming to operate in information and communication technology (ICT) sector. There are already over 26,000 IT companies that have taken the nation’s top spots for high-tech business. Even in non-tech sectors like tourism, companies are focusing more on their IT efforts in the aims of improving the customer experience. An example of this in Florida is Walt Disney World’s launch of MyMagic wristbands, which allow the park visitors to make purchases electronically.

ICT has been ranked among Florida’s top industries. The state does not only have a business-friendly tax climate, state-of-the-art communications infrastructure, but it also invests more than $8 billion into R&D every year. This has helped ICT companies to strengthen their foothold in Florida’s economy: In recent years, Florida’s ICT industry has grown and diversified into photonics, mobile technologies, communications equipment, computer system design, modeling and simulation, and digital media. The digital media industry alone comprises of nearly 4,200 companies employing close to 11,000 people who are developing some of the best video games, mobile applications, and theme park applications in the world.

“Finland is one of the world’s leading countries in ICT”

On the other side of the ocean, Finland too has some cutting edge market potential in the ICT sector. In fact, it is one of the world’s leading countries in ICT. The increased economic productivity in the country has mainly come from the ICT sector over the past few years. Moreover, Finland was just recently ranked as the most innovative country in the world. Finland’s software and business services sectors have received the most foreign direct investment in Europe, and the rapidly growing gaming sector attracts world-class talent to Finland. If Florida is known for some of the fastest and most widely available wireless networks in the US, the state still can’t compete with Finland in these terms, since the country is famous for world’s fastest data connections to global networks. Thus, Finland offers great market potential with R&D opportunities in the high-tech sector as well as makes a great site selection for a data center business.

So, would it make more sense to start a company in the ICT sector in Florida or in Finland? The best option would probably be to consider expanding your business to both of these regions. Or how about entering into a partnership? The lightning-speed data transmission and state-of-the art connectivity foster profitable business partnerships in both Florida and Finland. Also, the gaming sector in both regions has a lot of potential. In Finland 180 game studios have been established in last three years, and global entertainment giants have already found investment possibilities and business opportunities. Instead of competing with one another, Finnish and Floridian ICT sector’s businesses could consider combining their talent and know-how for mutually beneficial results. There is one thing we can be sure of: Every ICT company can find opportunities either in Florida or in Finland – or in both.

 

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Sources: Enterprise Florida, The Florida High Tech Corridor, Newsmax, Invest In Finland & Good News From Finland

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