The Chinese satellite navigation system COMPASS, officially named Beidou, is at the dawn to become open to the whole world. COMPASS’s regional system has started to provide operational service for China, and the global COMPASS system is expected to be completed by the end of 2020. Consequently, new COMPASS-enabled business opportunities are emerging both in China and at the global scale in the future. Tightly coupled with the Finnish industry, the Finnish Geodetic Institute is motivated to translating these opportunities into benefits for the Finnish society. This project develops a reconfigurable software GNSS (Global Navigation Satellite System) receiver platform for assessing the COMPASS system and developing more robust and accurate localization. The FINCOMPASS project will bring new knowledge to the Finnish GNSS community and industry about how to utilize the COMPASS system optimally and which performance benefits it will provide. The Chinese partners in FINCOMPASS are the GNSS Research Center at Wuhan University (GRC) and the Chinese Antarctic Center of Surveying and Mapping (CACSM). The FINCOMPASS project will conduct valuable analysis from the viewpoints of both technology development and industry opportunities by providing new knowledge about COMPASS. FINCOMPASS will conduct performance verification and create information about COMPASS opportunities and potential limitations. Research deliverables have practical applicability for the Finnish industry and the whole society, as they provide detailed understanding about the benefits of COMPASS to Finland.