Nokia offers unused patents to Finnish tech companies

Nokia has just made itself one of the most socially responsible corporations in the mobile space, maybe even in the tech industry as a whole. In a move aimed at boosting the local Finnish economy, Nokia (NYSE: NOK) has announced that they’ll be making available their hoard of unused patents to select technology companies in Finland. As a joint venture between Nokia, Technopolis and Tekes, the Nokia Technopolis Innovation Mill will hand over unused patents to tech companies over the next three years. The Nokia Technopolis Innovation Mill will also provide a total of 8 million Euros in public and private funding to the companies selected to pursue Nokia’s dusty ideas.

Nokia, like many big tech corporations, patent a lot of ideas as a way to keep their war-chest of ideas safe from the competition. Unfortunately, a lot of these ideas never make it beyond the drawing board due to cost or time considerations. Nokia has patents ranging from energy solutions, location based technologies, mobile security and healthcare technologies, among others, that just sit in Nokia’s patent portfolio gathering dust.

It’s these ideas that Nokia is looking to bestow on Finnish tech companies in the hopes that they’ll have the focus to run with the idea and possibly change the world. Tekes, a Finnish agency tasked with doling out tech funds, is putting up a good deal of the public funds for the Nokia Technopolis Innovation Mill. Technolopolis will use its experience in managing its technology business parks across Europe to help coordinate the initiative and find more funding.

“We feel it’s important to support the birth and growth of Finnish companies that base their offering on technology and service innovations and aim to build internationally competitive businesses,” said Mr. Esko Aho, Nokia’s Executive Vice President, Corporate Relations and Responsibility. “As we will not take all of the innovations generated by our R&D into production, we are happy to give other competent companies the opportunity to turn these innovations into success stories.”

Global corporations always talk about giving back to society, but rarely do we see them actually make such an unselfish move. Well done, Nokia.

[Via: SymbianOne]