One of the strengths of the Helsinki region appears to be the close relationships between the local universities and industrial firms. It is argued that this can be explained by the Finnish way of life with short social distances between people making it easy to network. This chapter explores the knowledge economy strategies of the national government of Finland and of the local authorities. It analyses the foundations of the knowledge economy for Helsinki. They include the knowledge base, the economic base, the quality of life, the accessibility, the urban diversity, the urban scale, and the social equity in the city. The chapter discusses Helsinki's knowledge economy activities. It explains how well the city (and the actors in it) manages to: attract and retain talented people; create new knowledge; apply new knowledge and make new combinations; and develop new growth clusters. The chapter contains conclusions and unfolds perspectives for Helsinki's position in the emerging knowledge economy.