In Co-Innovation joint projects, research projects by research organizations and R&D projects by companies are carried out simultaneously in close cooperation.
The joint projects promote high-quality research and accelerate the renewal and international growth of Finnish companies, as well as the building of competitive ecosystems.
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.
Co-Innovation joint project may be formed by at least two cooperating companies. If one or more research organization is involved in the project, at least three companies must also actively participate in the cooperation. At least two of these companies must apply for funding for their research and development project from Business Finland, and the projects of the companies must be eligible for the funding. The appropriate consortium size is usually significantly larger. Companies participating in the consortium without an R&D project of their own can finance the research or bring in other in-kind investments such as work results materials or equipment.
In a Co-Innovation joint project, the total costs of the research and business projects must be appropriately balanced in relation to each other. The greater the emphasis on applied research, the higher the share of business projects. For future-oriented high-risk joint projects, the share of research may be higher. No single project may exceed 70% of the costs of the joint project. In addition, the combined total costs of the research projects may not exceed 70%. The funding from Business Finland is competitive funding. The assessment also takes into account any other funding applications and the indirect effects of the joint project.
The results of the public research project must have broad applicability outside the Co-Innovation consortium.
The funding for Co-Innovation joint projects has changed in as follows:
Plan a project and define its goals. Ensure the sufficiency of self-financing.
Submit your application through online services. Submit the additional information requested.
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.
Arrange project accounting. Notify Business Finland of any changes.
Report your project's implementation and costs. Attach the additional information requested with your report.
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.