"We actively work to make Finland a competitive environment for international research based companies. We appreciate Bayer's extensive research & development operations here, and the decision to move the Nordic corporate headquarters to Finland", minister Häkämies said. "We hope this good example set by Bayer will encourage other companies to do the same" he continued.

The high level talks revolved around the question on how to create an ecosystem of innovation to the benefits of all stakeholders. "Creating competitive advantage through innovation is a shared goal for Finland, customers and Bayer alike", said Rittgen. "We all benefit from cutting edge technology, world class science and efficient production methods to succeed the increasingly competitive world economy.

"Bayer's hormonal intrauterine contraceptive product Mirena is a good innovation case from the healthcare sector", Essen highlighted. "Originally invented by Finnish researchers and further developed by Bayer with the Population Council, the product is a number one choice for birth control to millions of women around the world. Today its Bayer's 6th most sold prescription product."

As a remote country without a large population, Finland cannot compete with large home markets or cheap labor costs. The country needs to succeed as a knowledge-based economy. Bayer contributes to the growth of knowledge in a number of ways. "We connect science and people", Rittgen said. "Bayer employs and equally importantly develops world-class professionals in production & process technology, medical science and chemistry."

Bayer demonstrates its commitment to innovation in Finland through co-operation with the academia, public research institutions and universities.