The Market Explorer funding is suitable for SMEs and mid-cap companies seeking new international markets for their product, service or business model. You can use Market Explorer funding to buy expert services that help your company gain new information and know-how regarding a new international market.
The Market Explorer funding is provided as aid which your company does not need to return at a later time. The funding is designed for covering expenses incurred in purchasing expert services. In addition, other costs will be accepted up to the amount of 20 percent of the sum of the purchased services. The amount of Market Explorer funding is EUR 5,000–10,000, covering 50% of the total expenses of your project. Therefore, the total budget of your Market Explorer project may range from EUR 10,000 to EUR 20,000.
No Market Explorer funding is paid in advance, so the company must have sufficient financing to cover the costs of the project and other business costs. The maximum duration of a Market Explorer project is one year. A company or a group of companies may receive Market Explorer funding a maximum of three times.
You can use Market Explorer funding to buy expert services to support your company's international growth. The expert service provider can be a company, a research organization, an information dissemination organization or an expert (an individual). The service provider can also be from abroad.
What the funding cannot be used for
We cannot grant funding for your company if:
Please make sure to sort out the above matters before applying for funding.
Market Explorer funding is de minimis aid. The maximum amount of de minimis aid that a company can receive over the current and two previous fiscal years is EUR 200,000.
The company must assess, at the application stage, how much de minimis funding it has received in the previous years. Companies belonging to the same group or controlled by the same party (for example, same majority owner) are considered one company. Such aid is granted by a range of public organizations, such as Finnvera and the ELY Centers.
The funding terms and conditions describe the costs that Business Finland can fund, how we monitor your project costs, and how you should report on the progress of your project.
Send your application and attachments via our online service. You can also keep track of the processing of your application in the online service.
In the application form, you will be asked to set 2–5 measurable targets for your project. The targets must be related to the concrete outcomes of the project and the development of your company's business. The project targets will be recorded in the funding decision and Business Finland will monitor their completion. The accomplishment of the targets has a significant impact when applying for potential follow-on financing from Business Finland.
Please describe the targets in the form "outcomes of the project upon its completion".
Examples of project targets:
As a part of your application, we will ask you to submit a project plan. You can either type your plan in the application form, in the field ("Project realization: Please describe the intended use of the funding you are applying for") or attach it to the application in a separate file.
Please detail at least the following items in your project plan:
If your company does not yet have any audited financial statements, please submit, along with your application, an income statement that is less than 2 months old, and balance sheet ledger for the current accounting period.
In order to make the funding decision, we may ask your company for additional information if necessary.
Business Finland can accept costs starting from the date the application was submitted, at the earliest.
Eligible costs within a Market Explorer project can be:
Expert services related to exporting your product, service or business model to a new international market.
The following costs cannot be accepted as project costs
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.