The Finish case of industrial renewal from essentially natural-resource- based industries toward machinery, engineering, electronics, and ICT is of particular relevance for Latin-American countries. The study explains the crucial role of the finish innovation system and the long-term public-private partnership in the industrial transformation towards a higher knowledge intensity and value added economy. The report recognizes the importance of innovation investments, but estimates as equal essential consistent long term strategies on facilitating conditions to build up, cooperative, confidential and dynamic innovation environment. Long term public-private partnership and broad cooperation within the industry as well as with other industries and the research sector, as exemplified by the Triple Helix alliance has been a key factor for economic success in Finland.""