MDI is part of a consortium led by 4Front Oy, which explores the impact of regulation on innovation and market development. The nature and the appropriate amount of public regulation is one of the basic questions of a market economy and is addressed by different schools and approaches. Common rules of the game are needed to ensure the basic functions of society, reliability, safety and market equality. At the same time, we want to ensure that the market remains healthy and willing to invest in innovation, growth and social renewal. To address this need, the report provides an up-to-date picture of the state of innovation-friendly regulation and concrete recommendations based on the best knowledge of how to develop the regulatory environment and processes in a more innovation-friendly manner. The Bank of Finland, Aalto University, KPMG Oy and Technopolis Group LLC are also part of the consortium.