We are pleased to announce that the University of Vaasa is the first institution in Finland to successfully complete the Business School Impact System (BSIS) assessment process and has been granted the BSIS label.

The BSIS evaluation team identified several key strengths, including a strong financial contribution, innovative research, regional alignment, and significant societal impact.

Addressing the school’s achievement, BSIS Director François Bonvalet remarked:

“The University of Vaasa has demonstrated an exemplary commitment to impact across all dimensions—economic, intellectual, societal, and beyond. What truly stands out is its ability to align academic excellence with regional relevance and global priorities. Being the first in Finland to receive the BSIS label is a testament to UVA’s strategic vision and its deep-rooted engagement with the world around it.”

University of Vaasa (UVA)

The University of Vaasa (UVA) is a multidisciplinary, business-oriented university located on the west coast of Finland. With a strong focus on sustainable business, energy, and society, the university combines high-quality education with impactful research. Its four schools—Accounting and Finance, Management, Marketing and Communication, and Technology and Innovations—offer degree programmes at the bachelor’s, master’s, and doctoral levels. The university fosters innovation, entrepreneurship, and regional engagement while maintaining strong international partnerships. With over 6,000 students and 650 staff, the University of Vaasa is committed to shaping a smarter, more sustainable future through knowledge, collaboration, and societal impact.

Financial contribution reflects strong economic presence

The EFMD BSIS review team recognised UVA for its extensive and meaningful contributions across financial, educational, business, intellectual, societal, and regional dimensions. With a mission centred on advancing sustainable business, energy, and society, UVA has clearly aligned its strategic direction with both regional needs and global priorities, establishing itself as a key institutional player locally and beyond.

UVA demonstrated a robust financial footprint, generating a total direct, indirect, and induced economic impact of €253.5 million within its defined impact zone. The review team noted the university’s ability to retain a high proportion of spending within the local economy and commended its forward-looking plans to diversify income—particularly through increasing research funding, expanding international student recruitment, and strengthening alumni engagement.

Innovation, research, and regional alignment

With 65% of its student population coming from outside the region, UVA enjoys strong national appeal. The university stands out for its innovative teaching methods—such as live case studies, digital simulations, and interdisciplinary team-teaching—which enhance the learning experience. Its educational offerings are well-aligned with local industry demands, particularly in the integration of business and technology. A network of approximately 14,000 alumni, many in influential regional roles, further reinforces UVA’s educational and reputational strength.

UVA actively supports the business community, with students contributing over 287 full-time equivalent internships and consulting projects valued at more than €8 million. The university has nurtured a vibrant entrepreneurial ecosystem through initiatives like Sprout, Bloom, and the Startup Arcade. Plans to launch a PhD in Entrepreneurship and a new MBA module demonstrate continued investment in regional innovation and economic resilience.

UVA also boasts strong research output, producing over 700 academic publications in 2023 alone—many of which rank highly in national and international assessments. Its eight research Chairs, all regionally funded, are deeply embedded in the local context. Research increasingly addresses critical themes such as the energy transition and social innovation and is effectively integrated into teaching, creating a dynamic link between academic inquiry and practical application.

Regional ecosystem engagement and societal impact

UVA plays a central role in the regional ecosystem, working closely with businesses, government entities, and academic partners. Its active involvement in the Vaasa Energy Cluster highlights its importance to the region’s economic and innovation sphere. Through public events like Vaasa Energy Week and a wide range of community activities, the university serves as a civic and intellectual hub.

Sustainability and social responsibility are deeply embedded in UVA’s mission. The university’s curricula and research align with several UN Sustainable Development Goals, and all students receive training in corporate social responsibility. As a signatory of the UN’s PRME initiative, UVA integrates sustainability into its teaching and institutional practices. Cross-border programs such as COIL collaborations further demonstrate its commitment to societal and global engagement.

UVA enjoys strong visibility at local, national, and growing international levels. Its reputation is enhanced by international accreditations, EFMD Programme Accreditation, a robust online presence, and close relationships with stakeholders. The university significantly contributes to positioning Vaasa as a hub for sustainability, innovation, and high-quality higher education.

These achievements have led the EFMD BSIS review team to award the University of Vaasa the BSIS label, recognising its deep-rooted impact and substantial value to its region and the broader societal and academic community.

Minna Martikainen, Rector of the University of Vaasa, commented:

“Close cooperation with the city, regional stakeholders, and the business community is a key part of the University of Vaasa’s strategy. We are deeply committed to ensuring that our research and education have real-world relevance and impact. We are the first university in Finland and Nordics to receive the BSIS label, which is a significant and interesting tool for assessing the societal impact of higher education institutions. This recognition highlights our strong connection to practice and our role as a driver of regional development.”

About BSIS

The Business School Impact System (BSIS) is the first comprehensive impact assessment tool for business schools, covering more than 130 indicators across seven dimensions of impact. It provides a tailor-made data collection system for monitoring, assessing, and developing the impact of business schools.

The BSIS process involves the definition of the impact zone and institutional scope, data collection, impact assessment, and the report with recommendations for future development. Demonstrating the school’s impact on internal and external stakeholders, the system serves as a communication and negotiation tool externally and fosters an impact culture within the school. Schools that undergo BSIS are awarded the BSIS Label for a three-year period.

• There are currently more than 90 schools across 25 countries that have received the BSIS label.
• To learn more about the impact assessment system, please visit the BSIS website or contact Julie Comte.

What is it like for schools to undergo the BSIS process? Discover the compelling journey of Blanka Cimcioch, International Accreditations Coordinator at Poznań University of Economics and Business, as she shares her insights on navigating the BSIS process, highlighting the challenges, seizing the opportunities, and reaping the rewarding results it has yielded. Read more.

For additional insights, announcements and perspectives about BSIS, visit the conversation here.