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Funding for research organizations for developing a joint research idea between a research organization and companies

What do we fund?

In a Co-Creation project, research organizations and companies cooperate on developing a research idea carrying significant international business potential in relation to the required funding.

In a Co-Creation project, the research problem and the path to resolving it are determined, the project plan is processed to attract companies and a new network of companies is constructed. During the project, the companies also make preparations for their own R&D projects.

The goal is the Co-Innovation joint action carried out by the research organization in close cooperation with its new partnering companies.

Completed consortia can proceed directly to the Co-Innovation funding phase.

When to apply?

  • When a research organization and companies wish to cooperate on developing a new idea and its potential.
  • When a research organization wishes to create a new consortium required for the work and to engage the companies in the joint development efforts.

Funding is intended for new ideas that have the potential to open up significant international business opportunities for companies, and to enable research organizations to have the possibility to conduct relevant and scientifically well-merited research on the subject. Funding is aimed at developing radical innovations and creating new national and international cooperation.

What can the funding used for? 

  • For demonstrating the relevance of a research idea and the genuine demand related to the subject and for further development of the idea.
  • For building a network of companies and an international network required for the research and the development of innovations.
  • For other work related to the feasibility of the idea.

The problem to be addressed and its solution must be provisionally defined in the application. The research idea must be new and broadly utilizable.

Amount of funding

Business Finland's funding to a research organization covers 60% of the project's approved total eligible costs. The size of projects is at maximum EUR 100,000 per idea, and the duration of a project is typically 4–6 months. A fixed overhead cost rate of 20% and a indirect personnel cost rate of 50% is in the funding. The projects shall comply with the general terms and conditions of public research funding applied by Business Finland.

Eligible costs 

All costs that arise must be related to the implementation of the project. Eligible costs include:

  • salaries
  • indirect personnel costs 50%
  • indirect costs (overheads) 20%
  • travel expenses
  • costs of materials and supplies
  • purchased services necessary for the implementation of the project.

The following project costs are not eligible:

  • research work
  • gratuitous expenditure such as grants, donations, awards
  • the costs of financial activities
  • entertainment expenses (excluding meeting costs related to negotiations on the project)
  • advertising or marketing costs
  • hardware costs.

How to apply for funding?

Funding can be applied for at any time. Before submitting the funding application, you should first discuss the idea with your organization’s innovation service unit and after that with Business Finland’s research funding team. See below for contact details.

Funding applications is submitted via Business Finland's Online Service.

How are projects evaluated?

Advisers at Business Finland will evaluate the Co-Creation project. The evaluation will also take account of other, competing funding applications. Important evaluation factors:

  • Impact
    • International novelty value of an idea
    • Impact of the planned joint action on the capabilities of the research organization
    • Impact of the planned joint action on the international business operations of companies
  • Quality of the plan
    • The actions intended to demonstrate the business potential and need for research
    • The actions for engaging the companies and drawing up a joint research plan
  • The fact whether the project promotes the objectives of Business Finland's programs

Reporting and special conditions

Only the final report is provided. An auditor's opinion is not required. The projects follow the general terms and conditions for public research funding.