Public investments in R&D during this period were primarily channelled through the Academy of Finland and Tekes. The Academy was a traditional research council or science foundation, largely funding “bottom-up” proposals from the universities. Tekes was founded in 1983 as a technology development agency, funding R&D within companies and in academic-industry partnerships- both bottom-up and, w'here networks of stakeholders w'ith common interests could be established, in the form of technology programmes.