The KAUTE Foundation supports research in economics and technical sciences and the dissemination of research results.
We award grants for research, teaching and studying. We support the best researchers in the field to produce results that reach not just the scientific community, but also businesses and decision-makers.
Our aim is to help Finnish society and businesses to reform in an economically, socially and ecologically sustainable way. Research supported by KAUTE can have a significant impact on how we live and on the wellbeing of Finland, the world and people in the future.
It is important to us that research is also applied in practice. We actively communicate about research and bring together researchers, businesses and decision-makers.
Our strategy 2021-2023
In the 2021–2023 strategy period, the focus of our activities lies in distributing research grants and disseminating research information. In addition, we are seeking to support the interaction between academia and those who apply research.
The Foundation was founded in 1956 to reflect a renewed co-operation between Finnish business and engineering graduates in the post-war era. KAUTE Foundation was founded by the Finnish Association of Business School Graduates and the Alumni Association for Aalto University’s Technology Students (Pyöreän Tornin Kilta).
In the 1950s Finnish economy was undergoing strong post-war growth. The nation knew that shared welfare required both hard work and expertise. The need for more highly-educated workers was especially pressing. KAUTE Foundation was founded to provide financial support for studying, teaching, and research within business and engineering sciences.
Tuomas Olkku, M.Sc. (Econ.)
The Executive Director is responsible for implementing the decisions of the Foundation’s Board, organising financial management, the payment of grants, executing assignments concerning investment assets, and liaising with special funds. Tuomas has worked as the Executive Director of KAUTE since the beginning of 2020.
The Foundation’s Board is responsible for the KAUTE Foundation’s activities and the management of its assets.
Prof. Matti Suominen
Chairman of the Board, 2017–
Matti Suominen is the Chairman of the Board of the KAUTE Foundation. He has a PhD in economics from the University of Pennsylvania. He is a professor of finance at Aalto University where he specializes in corporate finance and financial market operations.
Board member, 2017–
Suvi Eriksson works at Suomen Ekonomit as Director of Career Services. Her specialties are e.g. higher education policy, lifelong learning and skill development during one’s career.
Prof. Tapio Lokki
Board member 2014–
Tapio Lokki is Professor of Acoustics at Aalto University and Director of the Department of Signal Processing and Acoustics. Tapio has a PhD from the Helsinki University of Technology. He specializes in room acoustics and audio signal processing.
Prof. Markus Granlund
Board member, 2021–
Markus Granlund is Professor of Accounting and Dean at the University of Turku School of Economics. His research interests cover a wide range of issues in the design and operation of management and information systems.
Janne Viskari, M.Sc. (Tech)
Board member, 2019–
Janne Viskari is the Director General of the Digital and Population Data Services Agency. Janne is a Master of Science. He is an expert and advocate of the digitalisation of society.
KAUTE’s Delegation consists of nine members, of whom the Finnish Business School Graduates ry (FBSG) and Pyöreän Tornin Kilta ry (PKT) each appoint four members. The Ministry of Economic Affairs and Employment (TEM) appoints one member. The members of the Delegation are elected for three calendar years at a time. The Delegation elects the Foundation’s Board and auditors, approves the Foundation’s financial statements and action plan, and oversees the Foundation’s activities.
- M.Sc. (Tech.) Kristiina Hartikainen, Delegation member, 2021–2023 (PTK)
- M.Sc. (Tech.) Ilkka Hiirsalmi, Delegation member, 2016–2021 (PTK)
- Senior Advisor, Industry Antti Joensuu, Delegation member, 2017–2021 (TEM)
- M.Sc. (Tech.) Hannu Martola, Chairman of the Delegation, 2016–2021 (PTK)
- M.Sc. (Tech.) Pauliina Mäkkeli, Delegation member, 2020-2022 (PTK)
- MSc (Econ. & Bus. Adm.) Jussi Nieminen, Delegation member, 2021-2023 (Finnish Business School Graduates)
- M.Sc (Econ & Bus. Adm.) Liisa-Johanna Pesonen, Delegation member, 2019–2021 (Finnish Business School Graduates)
- D.Sc. (Econ.) Juha-Matti Saksa, Delegation member, 2018–2020 (FBSG)MSc (Econ. & Bus. Adm.) Heli Törrönen, Delegation member, 2020-2022 (FBSG)
The purpose of KAUTE’s investment activities is to enable the Foundation to operate and distribute grants. In accordance with the Foundations Act, the Foundation’s assets must be invested productively and safely. The goal of the investment activities is to secure the real value of the assets to be invested and achieve a better long-term return than the benchmark index.
Our main activity consists of awarding research funding in the fields of economics and technical sciences on the basis of applications. The amount of grants to be awarded is confirmed in the Foundation’s budget. The aim is to distribute 50–60% of the current return and about 2% of the funds in the long term in grants, while taking into account fluctuations in the value of investments. About 65% of the investments are equity investments, 25% are fixed income investments and 10% are alternative investments.
The market value of the investment portfolio on 31.12.2020 totaled 25.7 million euros. The return on the investment portfolio in 2020 was 7.6% (benchmark index 6.2%).
KAUTE’s investment activities are decided by the Foundation’s Board of Directors with the support of an investment committee consisting of investment professionals. The members of the investment committee are:
- professor Matti Suominen, Chairman of the Board
- Elmar Paananen, CEO, Troll Capital Oy
- Kari Vatanen, CIO, Veritas Eläkevakuutus
- Veli-Matti Töyrylä, M.Sc. (Econ.)
2020 Annual report will be uploaded here in summer 2021.