Talent financing is intended for SMEs and midcap companies that significantly reform their current operating practices and management in order to improve their readiness for international growth. The company has a clear understanding of its development needs, and typically has more than 10 employees.
In addition to international growth, Business Finland’s impact goal is to increase the number of international experts working in Finland as a result of development projects.
Talent financing is granted to a company only once.
The funding is available to SMEs and midcaps seeking international growth with an own product, service, or business model that stands out from the competition. The goal of the funded measures should be to increase the internationalization skills of the company’s own personnel.
The amount of Talent funding is EUR 20,000-50,000. Funding from Business Finland will cover 50% of the project costs, which can be between EUR 40,000 and 100,000. The funding is a non-repayable grant. No advance is paid – the full amount of the funding will be paid on completion of the final report.
When making the decisions, Business Finland always assesses the company’s business as a whole in addition to the content of its application: its competitive advantage and growth plan, team, and adequacy of financing. The company must distinguish itself from its competitors in the international markets and achieve export growth as a result of this.
Funding may be provided for companies at different stages of their internationalization.
For companies that have already established their operations, but are in the early stages of internationalization, the development and piloting of new operating practices and recruitment processes may be the subject of development.
Companies undergoing a strong phase of international growth may focus personnel development on, for example, building an international culture, developing their supervisory work, or piloting/experimenting with new operating practices.
Pioneering companies operating in global international markets may focus personnel development on planning and piloting a new global operating practice or turning their own operating practice into a commercial service product, for example.
Development of international competence management
A corporate culture that supports international recruitment
Development of operating practices to combine the skills of people from different cultural backgrounds
E.g., building an international working community's operating practices and related experiments or piloting. Operating practices with which new international experts promote the company's access to new markets.
International recruitment capability and processes
E.g. how can a company find suitable experts from the international labor market? What kind of expertise does the company need over the next 2-3 years? How are new employees introduced to the work community?
International employer image and communication
E.g., building an internationally attractive employer story. How should the company develop its communications to create an attractive employer image, and what indicators could be used to measure the success of this?
The company must have secured sufficient funds to implement the project and carry out its other activities. Sufficient financing means that your company can cover the total costs of the project prior to receiving funding from Business Finland.
The total costs of a Talent project cannot exceed EUR 100,000, and the funding will cover 50% of the costs. The company will not be paid an advance, so it needs self-financing equal to the total cost of the project. We also take into account the financing needs of the other activities of the company that will continue alongside the project.
Business Finland assesses the company's financial situation on the basis of the balance sheet ledger attached to the application: an income statement dating back no more than two months, a balance sheet for the current financial year, and a cash flow statement.
(See section Apply for funding, Annex 2.)
Business Finland will not grant funding if:
This funding is de minimis support. A company can receive de minimis support of up to a maximum of €200,000 in the current and two previous financial years. De minimis funding for companies belonging to the same group or controlled by the same party (e.g., by majority ownership or by contract) is added together.
Your company must assess, at the application stage, how much de minimis funding it has received in the previous years. Such aid is granted by a range of public organizations, including Finnvera and the ELY Centers.
The terms and conditions of the funding describe the costs that Business Finland can fund, how the project costs are monitored, and how the progress of the project is reported.
Answer a few questions about your company and you will immediately know whether Business Finland is the right institution to provide financial and internationalization services to your company. The survey takes five to ten minutes to complete and cannot be taken on behalf of another company.
Send your application and attachments via our online service. In your application, describe the current state of your company’s business activities, your personnel and resources, your future growth vision, the work to be carried out during the project, and your project’s goals and costs. You can follow the processing of your application in our online service.
Set two to five measurable goals for your project in the application. The goals must be linked to the development of the company’s business and concrete outcomes of the project. The project’s goals are recorded in the funding decision, and Business Finland will monitor their achievement. The achievement of the defined goals is a significant factor in deciding whether your company can receive possible further funding from Business Finland.
Examples of project goals:
The project plan is a mandatory attachment to the application. If you wish, you can use the attached template.
The Talent funding application must be accompanied by a profit and loss statement and balance sheet for the current fiscal year, which are no more than 2 months old. Also attach a cash flow statement to the application, which takes into account the costs of the Talent project.
A cash flow statement (xlsx)
The minimum amount of acceptable costs is 40,000 euros and the maximum amount is 100,000 euros. Costs are accepted starting from the day on which the application was submitted. Eligible costs include:
Of a person’s salary for his or her total working hours, the proportion that is allocated to the project.
Indirect personnel costs
Indirect personnel costs cannot exceed 30% of the paid salaries.
The services must be specified in the project plan: service, service provider, cost. The purchased services must be expert services. Services purchased from associated companies are not eligible. Do not conclude a binding contract for the provision of services before submitting the application.
Other costs are accepted up to 20% of the total sum of salaries and purchased services. These costs do not need to be specified.
The following costs are not eligible 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.