Henri Haaksiala: Helsinki is ready to house over a hundred new Unicorns

In Finland, there’s a recurring dream of finding “the new Nokia” — a company that could single-handedly transform our economy like Nokia did in its prime. But let’s face it: building a new Nokia is neither realistic nor even necessary. Instead, a more achievable and impactful goal might be nurturing 100 Wolt-sized companies.

Henri Haaksiala / Dall-E

Let me offer a twist to that vision: Pitäjänmäki, Helsinki’s forgotten office district, could host over a 100 new Wolts. Sounds bold?

Let’s break it down:

Wolt’s shiny new headquarters in Kamppi is roughly 7,400 m². Meanwhile, Helsinki’s area currently has 1,000,000 m² of empty office space. A bit of math reveals that you could fit 135 Wolt-sized offices into that unused real estate. Imagine it: a neighborhood packed with over a hundred rapidly scaling tech companies, all driving innovation, job creation, and exports. That’s a future worth building for Finland.

Right now, Pitäjänmäki is a ghost town of underused offices. Once a Nokia hub, it’s now seen as outdated and unappealing. But the fundamentals are there: the area is well-connected by trains, buses, and the brand new light rail. It is in close proximity to the airport, making it ideal for global businesses and international talent. The office space is also much cheaper than in central Helsinki. The challenge? The offices are outdated, and the vibe isn’t exactly buzzing. But that can change! Think of what Otaniemi and Maria01 have become. If Finland’s startup ecosystem continues to grow, Pitäjänmäki could evolve into Finland’s very own Silicon Valley.

Let's cut the red tape

One issue with repurposing office districts is that converting them into residential areas is often blocked by strict building regulations. Office buildings tend to have wide floor plans that make traditional apartments too dark or impractical. But imagine if we cut the red tape and made it easier to convert these spaces. You could build a mixed-use district with thriving businesses generating billions in economic value, housing for employees and students, temporary accommodation for visiting talent, and cafés, restaurants, and other quality services that naturally follow growth. Pitäjänmäki wouldn’t just be an office park; it could become a living, breathing innovation district.

There’s also a poetic angle to this. Pitäjänmäki was once home to Nokia’s R&D and production facilities. Transforming it into a startup and scaleup hub would give the area a new lease on life, while honoring its past role in Finland’s economic success. The irony? Instead of trying to recreate another single giant like Nokia, we should be building dozens of Wolts. A diverse ecosystem of high-growth companies is far more resilient and impactful in today’s global economy.

Something has change

Right now, many real estate investors hold onto empty offices in Pitäjänmäki to avoid booking losses. It’s a dead-end strategy — clinging to outdated valuations, hoping for a rebound that’s unlikely to happen. Let’s be honest: doing nothing is more costly than taking risks. Cities must push for creative solutions to unlock the potential of underutilized spaces. It’s better to aim for something bold — even if it's not perfect — than to let these areas stagnate.

I’m not saying this vision is flawless. But it’s an idea worth considering. Pitäjänmäki could be transformed into a dynamic startup hub with businesses, housing, and services in a self-sustaining ecosystem. It’s time to think beyond central Helsinki and recognize the untapped opportunities in places like Pitäjänmäki. With the right policies and bold leadership, we could host 135 new Wolts — and who knows how many future unicorns might emerge from there? Just some thoughts for Helsinki’s city planners, investors, and policymakers — especially with local elections on the horizon.

Let’s build something that works for the future.

-Henri Haaksiala, a VC-backed founder turned consultant