Business Finland has submitted a report on the collaboration agreement between IBM and the Finnish Funding Agency for Technology and Innovation (Tekes) to Mika Lintilä (Centre), the Minister of Economic Affairs, reports Helsingin Sanomat.
Lintilä on Wednesday told the newspaper that the report indicates that there is no reason to assume that “any wrongdoings or wasting of tax money” have taken place.
Helsingin Sanomat revealed earlier this month that the extensive collaboration agreement – the objective of which was to establish a centre of excellence to develop cutting-edge health technology in Finland – has neither progressed according to plan nor created the jobs that were promised, driving the state-run agency into a crisis.
Tekes, the newspaper wrote, states in the agreement that it intends to invest up to 150 million euros in the project through its various funding programmes. IBM, in turn, was expecting the project to grow into a business worth 400 million euros per annum.
The agreement was signed in the latter half of 2016.
Tekes emphasises in its report that the agreement is essentially a letter of intent that describes “anticipated investments in developing digital health care and the artificial intelligence ecosystem” but lays out “no euro-denominated or operator-specific funding commitments”.
“I trust the response of the officials,” Lintilä said to Helsingin Sanomat on Wednesday.
IBM, he pointed out, has according to the report received no funding or services that were unavailable to other companies.
“The agreement’s monitoring group will definitely have to determine to what extent the objectives laid out in the letter of intent have been met and if there’s something that should be done differently going forward,” said Lintilä.
Tekes and Finpro were consolidated at the start of the year to form Business Finland.
Aleksi Teivainen – HT
Photo: Vesa Moilanen – Lehtikuva