The Academy of Finland's Centres of Excellence are the flagships of Finnish research. They are at the cutting edge of science in their fields, carving out new avenues for research, developing creative research environments and training talented new researchers for Finnish research and Finnish business and industry. A CoE is a research and training network that has clearly defined research objectives and is run under a joint management. Funding is provided for a six-year term, which means that a CoE can work toward long-term objectives and even take risks. CoEs are jointly funded by the Academy of Finland, universities, research institutes, the private business sector and many other sources.