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Innovations generating new international business

Co-Innovation joint projects between research organizations and companies promote high-quality research and accelerate the renewal and international growth of Finnish companies as well as the building of competitive ecosystems.

Co-Innovation funding

The participants in a Co-Innovation joint project work together to generate new knowledge and innovations that enable the companies involved to develop significant new business activities. The participants in the joint project have a common goal and need to engage in collaboration projects and a plan to achieve their common goal.

The funding strengthens the expertise of the research organization and accelerates the utilization of research data in the companies' R&D activities and the development of new export products. Co-Innovation joint projects strengthen both domestic and international networks.

Co-Innovation joint project funding is granted to collaboration projects that have undergone the Co-Creation phase and projects that have been prepared directly without it.

A joint project may be formed by at least two cooperating parties. If one or more research organizations are involved in the project and the project is not related to the ecosystems of leading companies, the collaboration must involve at least three companies. Furthermore, at least two of the companies must have applied for Business Finland's R&D funding. The consortium should often have between 6 and 8 members. In addition, the project may involve companies that otherwise contribute to the project without having an R&D project of their own. They may act as a subcontractor for another company's project, fund research, or bring other in-kind investments (e.g., equipment) to the whole.

What is required of a Co-Innovation joint project?
  • The joint project significantly promotes the international competitiveness of the companies involved and the renewal of the large companies involved in the consortium.
  • The potential of new export business generated by the joint project in relation to the required R&D investments is significant.
  • The common goals of the joint project are ambitious, and the participants in the consortium have sufficient expertise and resources to achieve them.
  • The research conducted and the solutions produced with it have novelty value, market potential, credible commercialization plans, and social impact.

See instructions for applying for funding

How does Business Finland funding work?

1
Before you apply

Plan a project and define its goals. Ensure the sufficiency of self-financing.

2
Apply for funding

Submit your application through online services. Submit the additional information requested.

3
Approve the funding decision

Business Finland will assess your application and notify you of its decision. Read the decision and its terms and conditions, and approve the decision in online services.

4
Use the funding

Arrange project accounting. Notify Business Finland of any changes.

5
Report your project

Report your project's implementation and costs. Attach the additional information requested with your report.

Definition

Research and knowledge-dissemination organisation means an entity (such as universities or research institutes, technology transfer agencies, innovation intermediaries, research-oriented physical or virtual collaborative entities), irrespective of its legal status (organised under public or private law) or way of financing, whose primary goal is to independently conduct fundamental research, industrial research or experimental development or to widely disseminate the results of such activities by way of teaching, publication or knowledge transfer.

Where such entity also pursues economic activities the financing, the costs and the revenues of those economic activities must be accounted for separately. Undertakings that can exert a decisive influence upon such an entity, in the quality of, for example, shareholders or members, may not enjoy preferential access to the results generated by it.