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Finnish startups are finally getting outside investment

The Slush 2017 event in Helsinki, Finland, kicked off Thursday with roughly 2,600 companies, 1,500 investors and 20,000 people gathering to network. Photo: Ina Fried / Axios

While most investors aren't eager to see themselves eclipsed, for the Finnish government, it's actually a good thing. After years of having to back its own startups, Finland is finally starting to get significant outside funding for its early stage companies.

Last year, foreign VCs invested 216 million Euros in Finnish startups, up from 110 million Euros the prior year and just 21 million Euros in 2010.

The bottom line: For the first time, foreign investors poured more money into Finnish startups than did the government.