Rise to Challenge Is Business Finland’s Most Significant Investment in Research Institutions

Rise to Challenge is a unique funding instrument ansd represents Business Finland's largest funding initiative for research institutions. “The funding for a single project over five years can be as much as €5–10 million,” says Timo Metsä-Tokila, Director of Funding at Business Finland.

"Since this is such a significant investment by Business Finland, we also expect major commitment and effort from research organizations, including at the leadership level. We hope these initiatives will enable new wellbeing, expertise, and business opportunities for Finland in the long term. We strongly encourage bold and radical research initiatives," Metsä-Tokila emphasizes.

Aiming High

Our goal is to accelerate top-level research and create a foundation for future business opportunities. These projects should tackle societally significant challenges of tomorrow through research. The bar is high. We are looking for radical initiatives, boldness, and a willingness to take risks.

We invite the best and most ambitious research ideas from research organizations, with the full commitment of their leadership. Radical research initiatives from all fields of study are welcome.

Funding is Allocated in Phases

The maximum duration of a single research project is five years. Funding is initially granted for the project’s first phase, with a duration of up to three years. In this phase, business participation is not required, although companies can be engaged during the project. However, a plan for utilizing the results within a 5-10 year timeframe must already be in place.

A total of €30 million will be allocated to the first phase, with funding caps of up to €3 million per organization or €6 million for a consortium project, allowing us to fund approximately 5–10 projects. A potential two-year continuation phase may receive an additional €2–4 million in funding. Decisions on continuation funding will be based on the outcomes of the first phase.

Relationship between Rise to Challenge and Other Funding Instruments

Rise to Challenge positions itself between Academy of Finland’s funding for basic research and Business Finland’s funding for applied research. We believe there is expertise that companies cannot yet anticipate they need. Unlike Co-Research projects, the Rise to Challenge call allows for business exploitation of results over a longer timeframe.

This call is looking for bold, world-class ideas, even wild ones, and significant breakthroughs. Show us what you’ve got!

Additional Information

For more information about the funding call, please contact:

Virpi Mikkonen or Karin Wikman
Email: firstname.lastname (at) businessfinland.fi

Read also

info about the previous call (in Finnish)

NeoCarbon Energy case (in Finnish)