How to apply
You can confidentially consult with Business Finland's experts whenever your company is seeking a suitable funding service to facilitate the development of innovation activities and international growth. Before submitting an application for funding, please contact us in order to identify the funding service that is the best match for your goals. You can contact our customer service or your contact person at Business Finland.
Please complete your application via our online service. You can monitor the processing of the application on the service and complete it if necessary. Processing of the application typically takes around two months.
The name of the applicant, the amount of funding applied for and granted, and the record number of the application become public information once the application has been sent.
Evaluation and funding decision
A team of Business Finland experts will evaluate your application and conduct an overall assessment of the project. When the processing of your application begins, your contact person will contact you. Your contact person's (project officer) contact information is available via our online service.
The decision will be submitted through our online service. Your contact person will also inform you about the decision by phone. The decision will come into effect when you accept it via our online service.
During the project, one of Business Finland's experts will assist you with matters related to funding, reporting, and other issues.
The following factors influence funding decisions:
- The applicant's resources and situation
- Project content
- Market potential and the competitive advantage that can be achieved
- The company's willingness and ability to grow internationally
Content of the application
Read the sample applications on the right to familiarise yourself with the questions on the application. Detailed instructions about how to apply for funding can be found from each funding service's own website.
In the application you are asked to describe
- The current status of your company's business
- Staff and resources
- The vision for growth
- Project objectives, project plan and cost estimate
The application has to also contain a project plan. The plan is free-form.
Company's financial information
Income statement and balance sheet
SMEs are asked to attach an accounts ledger from the current accounting period. The accounts ledger should include an income statement and a balance sheet no more than two months old. We ask equivalent information from large companies if necessary.
Cash Flow Forecast
For R&D funding applications and Young Innovative Company Funding applications, SMEs are asked to attach a monthly cash flow forecast and an annual financial forecast (previous accounting period and the three following periods). You can use the templates below to submit the financial information to Business Finland. The templates are not mandatory and the information can be communicated to Business Finland, for example, as part of your business plan. We ask equivalent information for other funding services if necessary.
- Cash flow forecast calculation (xlsx)
- Calculation template for annual income and funding forecast (T2/T4/T7) (xlsx) (in Finnish)
Company's indirect personnel costs and overheads
A percentage of salary and indirect personnel costs based on the project's cost estimate can be accepted as overheads by most funding services. The percentage is based on the number of employees in the company:
- 1 - 19 persons: 20%
- 20 - 49 persons: 30%
- 50 persons or more: 50%.
If an overhead cost rate higher than the standard coefficient is preferred fot the project, the coefficient must be set using Business Finland's calculation. In addition to the overhead cost rate, an indirect personnel cost calculation is required in order to determine the actual indirect personnel costs. See the funding terms and conditions to check whether the overheads are eligible for the funding service you intend to use.
- Overhead cost rate calculation (xlsx) (in Finnish)
- Indirect personnel cost calculation (xlsx) (in Finnish)
Business Finland can not grant funding if:
- The applicant is a natural person, including private entrepreneurs (commercial name).
- The applicant is a 'firm in difficulty' as referred to in EU legislation (insolvent or has lost more than a half of its share capital).
- The company has tax arrears, is behind in its repayments of earlier Tekes/Business Finland loans, has a poor credit history, delayed payments or other neglected financial obligations.
- The project plan is missing or too vague.
- The company does not have the funding (own or external) required for the project.
- The solution (product, service, etc.) to be developed is not new or does not have a sufficient competitive edge compared to solutions that already exist on the market.
- The project has only a small impact on the company's business.
- Business Finland's funding would have no effect on the realisation of the project.