The NEF Newsletter: Connecting New England, Finland, and Scandinavia through trade, education, and culture. Born from the enthusiasm of Finnish New Englanders, it charts our shared journey—past, present, and future. Join our growing community of 2,550+ subscribers and many more via email and blog. Share with anyone eager to build Nordic-New England bridges.
Editor-in-Chief: Dr. Henrik Totterman, Finnish Honorary Consul for Boston and New England. A professor, entrepreneur, and connector dedicated to fostering Finnish-American collaboration and advancing sustainable solutions.
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Contents — February 2025
UPCOMING EVENTS:
1. Four Nations Hockey: CAN-FIN Feb 17: 20% Ticket Discount
2. Valmet Shrewsbury: Company Visit on February 26!
Economic and Trade Relationships
Education and Research
Cultural Exchange
Consular Public Diplomacy
In Disequilibrium: Trust First, Results Follow
A note on coping in dynamic eras from your Honorary Consul
In my late teens, I faced some primary health concerns, and the uncertain path to recovery felt like a lifetime in a young adult's mind. While I would never wish the same struggle on anyone, I also cherish the experience as a defining milepost in the trajectory of my life, shaping both personal and professional choices ever since. In retrospect, I realize that these extremely trying times established a life-long compass for me that helps me, even today, navigate dynamic, disruptive, and unknown situations in life and work.
Trust — Knowing who and what to rely on: The North Star is creating trust—whether in people, products, companies, organizations, government, or society at large. Building a productive and meaningful foundation to solve problems or challenges is nearly impossible when trust is lacking. Surround yourself with trustworthy people who are honest and open, willing to tell you things as they are, yet supportive and ready to have your back, especially when you are not in the room.
- 🇫🇮 Finnish proverb: "Luottamus on kuin silta – se rakentuu hitaasti, mutta romahtaa hetkessä.” (Trust is like a bridge – it takes a long time to build but can collapse instantly.)
Dealing with uncertainty — Embracing change and the unknown: Life will always present risks and uncertainties. In the moment, they may feel overwhelming, yet in hindsight, we often realize how clouded our thoughts were—even when the solution was within reach. So, never give up. Focus on what you can control and know, and have faith that destiny will clear the unknown as you move forward. This applies in life and in shaping and executing business strategies.
- 🇫🇮 Finnish proverb: "Ei ole niin pientä pilveä, ettei siinä hopeareunusta olisi." (No cloud is so small that it has no silver lining.)
Finding space for things we like — Prioritizing joy and balance: Even in the most challenging times, we deserve happiness and a sense of belonging. A productive and positive mind is also more capable of actively seeking ways to turn the page finding a more desirable equilibrium—whether in life or at work.
- 🇫🇮 Finnish proverb: "Ei pidä mennä merta edemmäs kalaan." (No need to go beyond the sea to fish.)
Resilience in the face of failure — Learning, adapting, and persisting: My advice is to develop grit, determination, and resilience—or SISU, as we call it in Finnish—to push through hardship. Finns tend to prepare for the worst, to be positively surprised by a better-than-expected outcome. This, blended with a touch of American optimism—that things will work out, we have more to gain than lose—is golden in times of disruption.
- 🇫🇮 Finnish proverb: "Kyllä se siitä." (It will be alright.)
So remember—no matter what—always find ways to trust and cope with a future that is often unknown and unknowable — even better, do so with a smile on your face, as it makes people wonder what you are up to in your ambitious journey. So, always seek joy and actively improve the odds in your favor. Trust, focus, positivity, and persistent adaptability will see you through, no matter how tough the situation seems. Thank you for being part of this journey — enjoy your NEF!
Dr. Henrik Totterman
Events in February
Four Nations Face-Off
Games in Boston: Canada - Finland on Monday, February 17th, and Tournament Finals on February 18th.
The Opportunity: The 20% Discount for Team Finland fans is courtesy of the NHL, the Finnish Embassy in the US, the Honorary Consulate of Finland to the City of Boston and New England, Finlandia Foundation National, Business Finland, and other affiliated organizations.
The Ticket Purchase Discount Link: Click here for a great experience
Company Visit to Valmet Shrewsbury on February
Date: February 26, 2025
Agenda: You are warmly invited to join us for refreshments. The event will officially begin at 6:30 p.m., allowing a small buffer for those arriving later due to traffic. Schedule: 🔹6:00 pm—Light refreshments and networking 🔹 6:30—Official start of the event 🔹 7:00—Factory tour 🔹 7:30—Discussion on tariffs and their impact 🔹 8:15—Closing remarks 🔹 8:30—Doors close.
Host: Ilkka Penttilä, Director, Shrewsbury Plant
Company: Valmet Flow Control Inc., a subsidiary of Finnish Valmet Oyj, provides advanced flow control solutions, including valves and automation, for industries like pulp, paper, energy, and chemicals. The company focuses on enhancing process efficiency, safety, and sustainability worldwide.
Webpage: www.valmet.com
Visiting address: 44 Bowditch Drive, Shrewsbury, MA 01545-8044, USA (60 minutes from downtown Boston; great idea to carpool from Boston).
Registration: Click here for your seat at the table
Trade Promotion
Finnish Business Angels Network (FiBAN) – Empowering Angel Investors & Entrepreneurs for 15 Years — Congratulations from all of us in New England!
FiBAN is the Finnish business angel connector, uniting 650+ private investors on a mission to fuel innovation through early-stage investments. As a non-profit association, FIBAN connects promising startups with angel investors, provides certified investor education, and advocates for the interests of private investors. For angels, FiBAN offers a robust network, deal flow access, and top-tier education to refine investment strategies. For entrepreneurs, FiBAN opens doors to funding, mentorship, and invaluable connections to scale their businesses.
This year marks our 15th Anniversary—a milestone celebrating 600+ members, 2,000 funded startups, and nearly €500 million in investments. Seek membership, or if you are one, join the FiBAN 15th Anniversary Gala in Helsinki to honor the impact and the future of angel investing!
Doing Business in the US
I often get asked why Americans communicate and negotiate differently than Finns and Scandinavians. This continues to create struggles when planning, visiting, and reflecting on experiences among northerners, but Americans are signaling similar comments when doing business in the Nordics. A fair note: the US is an exceptionally diverse cultural mix of backgrounds, making it somewhat arbitrary to generalize too much. I guess the same is true for other countries. The American negotiation style thrives on energy, persuasion, and raising the stakes. It’s a dynamic mix of storytelling, humor, and provocation aimed at winning or avoiding loss. This "all tools in action" approach partly explains recent provocative communication styles. For us Northern Europeans, it’s a stark contrast to consensus-driven, direct, and understated methods.
Understanding these differences can unlock better collaboration across the Atlantic. What’s your take? 🌍 On that note,
here is a brilliant read by Consul General Jarmo Sareva on this topic, and below is my visualization on the same. Enjoy!
The Case of Doing AI-Business in the US: Myspeaker Retorich
The MySpeaker Rhetorich team recently visited us in Boston. We had a great afternoon on the Hult campus and a seafood dinner in Cambridge. Rhetoric leverages AI to analyze the technical aspects of speech and score its effectiveness, providing personalized insights for speakers and valuable tools for coaches. Developed through years of scientific research, Rhetoric is based on tens of thousands of speeches and collaborative work with strategic partners like Silo AI, which was acquired recently by AMD for almost $700M. Rhetoric is a powerful example of innovation transforming how we understand and improve communication. Plus, the team is both super pro and positive, fully vested with a can-do attitude. Just look at the excitement on our faces during Sunday reunion and walk around campus 😃
The Case of Doing Yacht-Business in the US: Cases like Axopar, Saxdor, Targa, and many more…
Why Do We Underestimate Our Ability to Create Outstanding Consumer and Luxury Products in Finland? What Can We Do to Encourage Existing and New Players to Internationalize?
I recently visited the New England Boat Show with my Finnish friends, and this question came up as we admired the impressive Finnish boat models. The boating industry is complex, yet Finnish manufacturers have proven we can design world-class sailboats and motorboats that succeed internationally.
Finnish Motorboat Design on the East Coast — For example, Axopar Boats has become one of the most recognizable brands in every local marina, thanks to its distinctive design. Targa / Oy Botnia Marin Ab impressed many attendees at the show with its exquisite craftsmanship, particularly the fine finishing of its wooden components. Meanwhile, the innovative Saxdor Yachts is rapidly gaining popularity along the East Coast.
Financial Success Despite a Challenging Market — Past financial figures highlight the success of these companies, even in challenging market conditions. While things may have changed, the comparable 2023 figures tell a compelling story:
- Targa/Botnia Marin: €59M revenue (+18% YoY), €4.6M profit (2024: €46M revenue, €3M profit)
- Axopar: €166M revenue (+13% YoY), €12M profit
- Saxdor: €76M revenue (+98% YoY), €460K profit
Finnish design, innovation, and quality resonate globally. So why aren’t we celebrating and encouraging these achievements even more? We have everything needed to succeed —not just in the boating industry but across the broader consumer products sector.
NATO DIANA - MassChallenge Kick-Off
For the second year, MassChallenge is partnering with NATO's Defence Innovation Accelerator for the North Atlantic (DIANA) to drive innovation in transatlantic security, surveillance, and energy resilience. The collaboration aims to support dual-use technologies serving commercial and defense markets. Companies from the Nordics are welcome to join this international network. The second cohort kicked off recently, and startups developed. Seeing the convergence of innovation and Boston's unique ecosystem was inspiring.
Kudos to the selected entrepreneurial innovators, the entire MassChallenge and NATO DIANA team, and the engaging facilitation by CEO Caitlin Reimers Brumme. A special highlight was connecting with members of the Boston Finnish community, including MIT Professor Bengt Holmström, Maria Uusimaa from Vaisala, Tuomas Routto from Reaktor, and Jukka Heikka from Fjord.
Education & Research Promotion
Case Publishing: Kone Corporation Agile Transformation
I am excited to share one of our latest projects—a deep dive into Finnish KONE Corporation’s global R&D agile transformation, developed in collaboration with Lionel Pailloncy, a Hult MBA alum and Dauphine doctoral student. In addition to several other business cases, this is my latest case on a multinational Finnish public company in recent years. Reach out if you want to collaborate with your organization to share insights and learning.
A special thanks to Jean Christophe Almira, who played a pivotal role in launching this research and facilitating extensive interviews across Europe, India, and China. With the support of CTO Tomio Pihkala and his outstanding #KONE team, we successfully published this multinational case study.
Strengthening Nordic Ties: Impactful Alumni Connections
Last week was an incredible celebration of Finnish educational, research, and innovation excellence in a highly international setting.
In New York, Hanken School of Economics Alumni gathered at PVH with a whole house of alumni joining from near and far to reconnect with our dear alma mater. We had the privilege of hearing from UN Ambassador Nicola Clase, Hanken Honorary Doctor, who shared fascinating behind-the-scenes insights on the diplomatic efforts that shaped Finland and Sweden’s NATO application.
As our host, Stefan Larsson, CEO of PVH (Tommy Hilfiger & Calvin Klein) and proud Hanken alum, put it so nicely: "It was so special to hear how Hanken had played such a critical role in people’s careers and lives! We have to all meet up soon again!!”
In Boston, Aalto University alumni gathered at the stunning Tuomo and Tarja Vuolteenaho family residence. It was a night to remember—new connections, a timely keynote on US government debt by Tuomo, a former Harvard Associate Professor and co-owner of Arrowstreet Capital, and his former Harvard colleague Randy Cohen. The incredible spread of food and drinks made for a fantastic atmosphere. Thank you for opening your home and for your generous hospitality!
Before the Aalto Alumni gathering, we had a dynamic and forward-looking day at Hult International Business School, focusing on building bridges between Aalto University and Boston’s innovation ecosystem. The energy, collaboration, and discussions throughout the day reinforced the endless possibilities for future partnerships. A special thanks to MIT Professor Bengt Holmström, Aalto University School of Business Dean Timo Korkeamäki and Head of External Relations Jonna Söderholm, Vaisala Head of Industrial Instruments Sales Maria Uusimaa, Co-Founder, President, Reaktor Inc. Tuomas Routto, and Profit Isle Managing Director Olli-Pekka Lumijärvi.
A heartfelt thank you to everyone who contributed to making these events so impactful.
Cultural Promotion
Did you make a New Year’s resolution to clean out clutter this year? Or to read more? Or maybe to network with other internationally-minded people? For all the above and more, join us for
WorldBoston's International Affairs Book Swap on February 11th!
This festive, informal program will feature book “shopping” and swapping, slam-style book pitches, networking, beverages and appetizers, and raffle prizes! And the best part is you get to cull your bookshelves and restock with a new-to-you book or two. Come for the books, the fun, or all of the above!
Participants should bring at least one and no more than six books about any topic in international affairs. All books must be in good condition and published within the past ten years. Please join us at 5:30 PM for a special Q&A session with WorldBoston staff members on the state of WorldBoston and what WorldBoston is looking forward to in 2025.
Organizer: WorldBoston
Registration: Click here
Discover a warm and welcoming space at the Scandinavian Cultural Center & Library in Newton, just outside Boston! Whether you're stopping by for coffee at the cozy Kaffestugan or exploring a diverse collection of Nordic literature, you’ll find a vibrant hub of language, culture, and community. 🇸🇪🇫🇮🇮🇸🇩🇰🇳🇴
📅 Special Event Alert! On Saturday, February 8, indulge in delicious Runeberg tortes, a Finnish favorite, while browsing books in Finnish, Swedish, and more.
Plan your visit or organize your event in this inspiring setting—connect, learn, and celebrate the rich traditions of the Nordic region. ☕📚
#ScandinavianCulture #NordicCommunity #NewtonEvents
Are you looking for funding for a project that strengthens U.S.-Finland collaboration? The U.S. Embassy in Finland's Public Diplomacy Small Grants Program now accepts proposals!
🔹 Grants range from $5,000 to $20,000 🔹 Open to projects promoting bilateral cooperation and shared values 🔹 Submit your proposal by March 28, 2025
Don't miss this opportunity! Learn more and apply today.
THE NEF - NEW ENGLAND FINNS NEWSLETTER
NEXT ISSUE: #13 Sunday, April 5, 2025.
Past Issues:
ISSUE #1: January 23, 2024, Setting Sails for a New Adventure - The NEF – The New England Finns monthly newsletter was launched on January 25, 2024, with well over 1200 subscribers on Linkedin a week later.
ISSUE #2: February 25, 2024, Sailing the Northeast Shores - 1776 on Linkedin.
ISSUE #3: March 31, 2024, Nordic Sailors Sharing Joy, Experiences, and Knowledge- 1900 on Linkedin.
ISSUE #4: April 28, 2024, Nordic Sailors and the New England Summer Season! - 2100 on Linkedin.
ISSUE #5: June 7, 2024, The Nordic Midsummer Magic - 2200 on Linkedin.
ISSUE #6: July 9, 2024, The Legendary Nordic Vacation - 2300 on Linkedin.
ISSUE #7: August 31, 2024, The Nordic Night of the Ancient Fires - 2400 on Linkedin.
ISSUE #8: September 29, 2024, Nordic Values At Work - 2450 on Linkedin.
ISSUE #9: November 3, 2024, Embracing the Northeastern Winds - - 2500 on Linkedin.
ISSUE #10: December 8, 2024, Shining Bright under the Northern Lights - 2542 on Linkedin.
ISSUE #11: January 2025, A Nordic Cheer for a Resilient New Year - 2584 on Linkedin.