This comment is a bit off topic for Finland. It does not have large capital markets looking for a good investment. It's a capital poor country.
Which is a good thing to know, if you come here looking for startup funding. The reason you don't find strong local seed funding is not because government blocks them. The reason is there is no capital for seeding, so to speak.
The vast majority of new businesses in the United States don't get VC funding. They get small investments from friends, families, local banks, etc...
The main cultural difference here that failure is seemed extremely shamefull. And taking loans from friends and family more or less dubious. And if you failed, and had asked loans from friends and families, would be crushingly shamefull. Hence this creates fear, hence it's not really done.
Don't get me wrong, subsidies are generally still important, for instance for initiatives that have a positive societal impact but that are hard to monetize. It's crucial that these organizations can still exist (not everything needs to be able to generate shareholder value to have a right to exist) and if subsidies allow them to do their thing, then that's great. But for the private sector, I think that there are other mechanisms that achieve the same goal but that maintain the much-needed Darwinism of startups, e.g. by offering tax breaks for angel investors.