From the beginning of 2010, VTT will be known as VTT Group, a body formed of three subsidiaries, VTT Expert Services, VTT Ventures and VTT International. The Finnish President has ratified the Acts enabling the transfer to the VTT Group structure.
The parent company VTT Technical Research Centre of Finland, which conducts self- and jointly-funded research, will continue to operate under the Ministry of Employment and the Economy and will continue to house all of VTT’s research and development operations. The parent company will administer the three fully State-owned companies, and take responsibility for their direction.
VTT Expert Services will take over VTT Technical Research Centre’s expert, testing, certification approval, inspection, analysis and calibration services. In all 250 VTT personnel are transferring to the company, along with equipment and existing contracts. VTT says the new company model will provide better conditions for developing business operations and services for customers.
VTT Ventures will administer and develop the spin-out companies born out of VTT’s research, while the parent company will continue to be in charge of the management, licensing and sales of the intellectual property created in connection with research operations.
VTT International will be responsible for internationalisation efforts.
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