Rector Minna Martikainen’s speech at the University of Vaasa opening ceremony on 1 September 2025

Dear members of our university community, dear students, colleagues, partners and friends – it is my great pleasure to welcome you all to the opening of the new academic year here at the University of Vaasa.

Together we are building the stronger future for our society.

The University of Vaasa has made significant progress in recent years on its chosen path of growth – with the mission of becoming a more impactful, international and growing university. Over the past year, the University of Vaasa has been placed among the world’s top 500 universities in the Times Higher Education Rankings.

In international rankings, the University of Vaasa is placed among the world’s top 500 universities. In business administration, we have progressed to 22nd place globally in the Shanghai Ranking and to the number one position among Finnish universities.

In recent years, the University of Vaasa has grown to be the largest provider of business education in Finland. All of our business education programmes have been awarded the internationally recognised AACSB accreditation, which is a testament to the high quality of our education and research. That places us among the top five percent globally.

The University of Vaasa has also been recognised for its significant societal and economic impact. As the first university in the Nordics, we were awarded the BSIS label. This demonstrates our commitment to ensuring that our education and research are genuinely impactful and deliver concrete value for society. We are also increasingly present in European-level discussions through our permanent office in Brussels.

I want to take this opportunity to sincerely thank our researchers, our teachers and all our staff and students for your dedication and outstanding work. I also warmly thank our partners and stakeholders for your truly valuable cooperation and support.

Finland’s economy needs knowledge

Finland’s economy is in a difficult position. Growth is slow, productivity is not increasing, the population is ageing and public finances are under severe debt pressure.

The Ministry of Finance’s draft budget proposes freezing the university index, which – together with previously announced cuts – would mean reductions of 90 million euros in university funding already next year. Such a freeze would be a direct, permanent and cumulative cut to the core funding of universities. It would mean reduced operations, fewer student places, and the collapse of the goal to raise the higher education attainment of young adults to 50 percent.

Over the past ten years, budget cuts have already pushed Finland permanently below the level of our Nordic neighbours and the OECD average. Today, when adjusted to student numbers, our funding is 20–30 percent lower than in Sweden, Norway and Denmark.

Our message to the government is clear: it would be the wrong strategy to cut education and research when our economy is already shrinking.

The economy can grow and tackle its debt burden only by investing in the highest level of expertise – in higher education and research.

Knowledge is the engine of growth

What is the real and most important capital in Finland? It is not oil, it is not extensive mineral reserves, nor cheap labour. It is research-based knowledge and high-level expertise. Broad, nationwide expertise is Finland’s true resource and the foundation of our economy.

Finland’s way out of debt and weak economic development runs along only one path: strengthening our knowledge base, attracting investment and building sustainable growth.

Our country cannot expand exports or attract foreign investment unless we have a sufficient number of highly skilled professionals – whose education must be at an internationally competitive level.

International capital reads the statistics carefully when making investment calculations. If a country does not invest in knowledge, it will not appear attractive or competitive in those calculations. Then, vital export revenues will be lost, and much-needed foreign capital will find a more productive destination.

The parliamentary commitment to raise RDI investment to 4 percent of GDP by 2030 has been one of Finland’s most important strategic decisions for securing growth and competitiveness. This is not the time to dilute or delay that target.

The University of Vaasa strengthens Finland’s knowledge capital particularly in three strategic areas: accelerating the energy transition, renewing business, and building a sustainable and resilient society.

The energy transition as an opportunity

I see in the energy transition a major opportunity for Finland’s economic growth. Here in Vaasa this is particularly visible. We are home to the largest energy technology cluster in the Nordics. Close collaboration between the university and companies – joint laboratories and joint research – is driving innovation, competitiveness and exports.

Together with our regional partners, we have launched the Energy Transition Valley initiative, with the goal of making Vaasa a leading ecosystem for energy research, innovation and new business development. This initiative strengthens Finland’s international competitiveness, increases the export potential of the entire economy, and makes Finland a global leader in energy transition expertise.

Comprehensive security, preparedness and resilience

Comprehensive security, preparedness and resilience are our national resource and capital.

In Finland, we have a rare ability to adjust and to make changes in challenging situations – an ability we have been developing for decades. Our own history of facing severe crises has made us experts in comprehensive security. This expertise is highly valued internationally today.

Comprehensive security does not arise from defence spending alone. It is built on knowledge – the ability to understand risks, innovate solutions and build a sustainable future. A university is not an expense in times like these – it is the most important investment in national resilience.

This year we also launched a new multidisciplinary Preparedness and Resilience Research Platform. Its mission is to strengthen Finland’s resilience by providing research-based knowledge to support decision-making.

Investment expertise for growth

The University of Vaasa also wants to support Finland’s position as an attractive destination for investment. We recently announced plans to establish Investment Hub Finland.

The Investment Hub Finland brings together different actors around investments and the investment environment to review and reflect: how can investments be accelerated, increased and attracted more to Finland? How can companies be encouraged to invest more? What barriers to growth exist, and how can they be removed? The aim is to generate multidisciplinary knowledge on investments and to strengthen both the willingness and the capacity to grow.

This knowledge is needed so that Finland can develop as a country and as an investment environment – and above all, so that our nation can cope with its debt burden. But again – this can only be achieved by strengthening knowledge, not by cutting it.

Together

This summer we announced major news: the University of Vaasa and Vaasa University of Applied Sciences have established a new higher education consortium. At the same time, our university became the majority owner of the university of applied sciences.

The aim of the new consortium is to develop flexible and fluent study pathways, build stronger research groups, compete successfully for national and international funding, and combine resources for greater impact – to support Finland’s export potential.

Both institutions will remain independent organisations, as required by law, but will grow and develop with their own strengths, supporting each other.

Welcome, our new students

This autumn we were delighted to welcome a record number of new students to our campus. Dear students, you are here to learn how to change the world, to take responsibility and to build society. We are proud of each and every one of you.

We support you with high-quality teaching, opportunities for internationalisation and strong links to working life.

Together with the City of Vaasa and local companies, we also support international students and their families in building their future here. Through the Spouse Programme, internships, mentoring and strong cooperation with employers, we want to make sure that international talent can integrate into our region and truly become part of our community.

Dear friends,

Finland’s future, growth and competitiveness will not be secured by weakening higher education and research – but only by strengthening them.

I wish you all an inspiring new academic year!