Nokia’s success further built upon existing advantages and entailed large-scale development and mobilisation of national and international stakeholders and supply chains. These ingredients will also be important in the future in identifying and seizing opportunities for innovation and growth, especially in the areas defined by the “societal challenges”. Universities’ research specialisation has an immediate effect on the specialisation of PhD graduates. Hence, the thematically focused research funding (for example, through technology programmes and especially via longer term competence centres, where PhD education is explicitly built into the strategic research agenda) feeds back to the production of industry-relevant PhDs.