Talent funding is suitable for SMEs and midcap companies that want to improve their capacity for international growth by creating working, organizational, and management practices that support internationalization and improve their ability to increase the number of international experts in Finnish companies.
The financial service will be opened for applications on August 1, 2023. However, the project can be planned and prepared in advance. More information: Nuppu Rouhiainen, nuppu.rouhiainen (at) businessfinland.fi, 050 5577 949.
The funding is available to SMEs and midcaps seeking international growth with an innovative product, service, or business model. (The company’s maximum net sales must not exceed EUR 300 million.) The funding enables the company to improve internationalization capabilities of its personnel. The goal of the funded measures should be to increase the internationalization skills of the 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.
Companies in the early stages of internationalization may develop skills of their personnel, for example, by conducting current status assessments, piloting new operating models, or building/renewing their recruitment process.
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 models.
Pioneering companies operating in global international markets may focus personnel development on planning and piloting a new global operating model or turning their own operating model into a commercial service product, for example.
Development of international competence management
A corporate culture that supports international recruitment
E.g., how to build an operating model for an international work community; what could be the related experiments or piloting? How could 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 cannot 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.
Read more about the de minimis funding
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.
Read more about the funding terms and conditions
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.
Funding can be applied for between January 16 and March 31, 2023. Applications will be processed after the end of the funding call.
Set two to five measurable goals for your project in the application. The goals must be linked to concrete outcomes of the project and the development of your business. 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:
Attach a project plan with your application. Enter the plan either directly in the fields of the application form or attach it as a separate file to the application. If you do not have a completed project plan, you can use the project plan template.
Please submit an income statement that is no more than two months old, a balance sheet ledger for the current accounting period, and a cash flow statement with your Talent funding application.
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. The services to be procured must be put out to tender in accordance with the Procurement Act if an individual procurement or the total sum of linked procurements is EUR 60,000 or more. 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.