Finnish dairy firm Valio has obtained €10 million in funding from Business Finland for a new research, development and innovation project, entitled Food 2.0.
Food 2.0 seeks to create a Finnish 'nature-smart' food system in which growth, profitability and added value are developed based on sustainable production, the company noted.
The project will see Valio initiate and lead collaboration as well as research and development projects with its current and new partners.
The programme will commence this year and continue for five years.
The dairy firm is seeking to increase exports connected to the food system by more than €1 billion in the years after the project has ended.
'Sustainable Food Production'
Tuomas Salusjärvi, EVP of growth businesses and R&D at Valio stated, “It is important that we reform the food system with all the actors involved, as that is the only way that we will succeed in the change.
“The global transformation of food production is also an opportunity for Finnish production, as global demand for food and the importance of northern production areas are growing. By being a forerunner in sustainable food production, we can create added value for food produced in Finland while improving its profitability and international competitiveness.”
Business Finland
Business Finland awarded the grant to Valio as part of its challenge competition for leading companies.
The organisation is also preparing to fund ecosystem projects on the Food 2.0 roadmap with a €20 million investment.
“Business Finland wants to be strongly involved in the work aimed at reforming the food system. All our services contribute to strengthening the goals set by this project”, added Business Finland director-general Nina Kopola.
Business Finland is a Finnish government organisation for innovation funding and trade, travel and investment promotion.
