Signatory Spotlight: University of Vaasa, Finland

An Event Exploring Diversity, Equity, and Inclusion in Small and Medium-Sized Enterprises

Among its many Sustainable Development Goal-focused initiatives, the University of Vaasa recently addressed ongoing debates on diversity, equity, and inclusion (DEI), showcasing the critical role of addressing it in business.

The first Diversity, Equity, Inclusion for Small and Medium-Sized Enterprises (DEI4SME) Hackathon, held in Vaasa, Finland, in February 2025, was a collaborative event organized by the University of Vaasa and international partners from Austria within the frames of the ongoing DEI4SME Project. The two-week global hackathon brought together ten companies from Finland and Austria, nearly 200 students, and around 30 business, education, and sustainability experts from around the world to discuss key DEI issues that small businesses must address to remain sustainable and competitive.

Participating firms tasked students to explore DEI issues in those same firms’ strategy creation, strategy implementation, product and service development, and human resource management processes. Diversity dimensions featured in the challenges were related to age, ability, disability, language, ethnic background, education, gender, and socio-economic status.

The success of the DEI4SME Hackathon I, already covered in international news sources, showcased that diversity can be a valuable resource for business growth and success if managed wisely. In the feedback about the event, 92% of respondents confirmed that the hackathon increased their awareness about the issues of DEI in business, especially in the SME context, and expanded their professional network; 82% shared that the hackathon benefited their personal or company’s development and advancement.

Students together with the managers from participating firms and mentors learned to assess the impact of DEI from different perspectives and to critically evaluate the ongoing societal debates about the DEI programmes. They also discovered that smaller firms are particularly well positioned to benefit from DEI. This is because to utilize DEI wisely, smaller firms do not require a major organizational change.

By solving cases for 10 companies, students practiced how to utilize DEI for a firm's internationalization efforts, improve the firm's capabilities and products to address diverse needs of customers, engage diverse groups of employees with the firm's strategies, or effectively resolve conflicts at work for more effective collaboration in teams. These company cases allowed students to tap into the real meaning of DEI and understand how closely it is connected to the core activities that every business does. Participating firms received new, ready-to-implement ideas on how to benefit from DEI in strategic and operational activities.

The hackathon also revealed that digitalization in business and DEI should go hand-in-hand. Many company cases were concerned with the use of technology by or creating technology-enabled solutions for diverse user groups. Students explored the solutions for the issues, such as: the effective use of data analytics systems for strategic management by users with visual impairments (e.g. colour blindness, weak vision), optimizing online search solutions for older users, integrating people with disability or refugees in high-tech manufacturing companies, or utilizing Artificial Intelligence for individualized employee upskilling.

The hackathon’s organizing team involved students with less work experience in the country of residence or those from the under-represented groups this way creating an opportunity for them to gain the needed work experience or learn about entrepreneurship. Prizes of the hackathon were directed at enhancing students’ professional profile and receiving career guidance from industry professionals which further helped students (most of whom had a migrant background) in winning or otherwise recognized teams improve their employability.

In the hackathon, as a co-creation platform, firms, academia, experts, and learners created a lasting impact, contributing to a more sustainable future and the implementation of the United Nations' Sustainable Development Goals (SDGs) 8 (Decent Work and Economic Growth) and 10 (Reduced Inequalities).

Learn More

• DEI4SME

• University of Vaasa News Hub

Are you a PRME Signatory Member? Showcase your institution’s impactful work in responsible management education by submitting a Spotlight for a chance to be featured on the PRME website and social media channels.

Submit to be Featured