The Innovation voucher is intended for SMEs with a new product or service idea that has potential to grow internationally, and that cannot be implemented without external expertise. The Innovation voucher is your opportunity to buy expert services that bring new information and expertise required for innovation to your company.
In innovation voucher funding, the amount of aid is EUR 5,000, which is 100% of the amount of the purchased services excluding VAT. You can spend this amount to buy services from one or several service provider. Your company can get this voucher only once.
The aid is transferred to your company after you have approved and paid for the work performed by the chosen service provider.
Apply for the Innovation voucher when your company has a new product or service idea intended for international markets and:
The Innovation voucher is intended for purchasing expert services from an external service provider to support your company's innovation activities. Innovation activities refer to measures by which your company develops new products, services and processes, or acquires new knowledge and competences required for these activities as a service. The Innovation voucher can be used to acquire services from companies, universities, universities of applied sciences or research organizations.
Here are some examples for using the Innovation voucher:
What can the funding not be used for?
The Innovation voucher is not intended for further developing, or renewing a product or service already existing on the market. It is intended for promoting a brand-new idea.
You cannot use the Innovation voucher to develop your company's overall business operations or to acquire consulting related to product or service development if the product or service is for your company only (not for sale).
The Innovation voucher cannot be used for the following:
We cannot grant your company funding if:
This funding is de minimis support. Your company can receive de minimis funding of up to EUR 200,000 in the current and two previous fiscal years. De minimis funding is granted by a range of public organizations such as Finnvera and the ELY Centers. At the application stage, your company must assess how much de minimis funding it has received during the analysis period. Please note that de minimis funding granted for companies belonging to the same group or controlled by the same party is added together.
You can freely choose a service provider that suits your business. If the application has been submitted on or after January 1, 2022, Business Finland will not check the eligibility of the service providers.
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.
Do you want to discuss with us before filling in an application? Contact our customer service. Let's discuss it and try to find the best way to help your company.
Send your application via our online service. Please note that the accountable project leader must be employed by the applicant company. You can also keep track of the processing of your application in the online service.
Business Finland can accept costs starting from the date the application was submitted, at the earliest.
Eligible costs within an Innovation voucher project can be:
The following costs cannot be accepted as project costs
If the application has been submitted on or after January 1, 2022, Business Finland will not check the eligibility of the service providers. Starting from 2022, Business Finland will no longer compile a list of service providers for innovation vouchers. The recipient of an innovation voucher may freely choose its preferred service provider.
Invoicing instructions for service providers when using the Innovation voucher can be found here:
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.