• Your company is a limited liability company.
• The company must have been in operation for less than five years before the funding application is submitted. The age is calculated from the date of registration in the Trade Register.
• The company is small sized: fewer than 50 employees, and an annual net sales or balance sheet total of up to EUR 10 million
• Your company has not previously used Tempo or Kiito funding.
• Your company has a credible funding plan and the prerequisites for profitable business and growth.

Innovation and competitive edge

• Your company's idea for a product, service or business concept is innovative and concrete. It differs from the solutions already available on the international market and your company's existing products..
• You know what customer needs your product or service idea meet.
• Your company is aiming at significant international growth.
• Your company has a realistic view of your competitive advantage in the markets and the competence needs related to it.
• You have identified the potential clientele and earnings model.
• You have estimated the size and business potential of the targeted markets.

Committed team

• Key employees are working in Finland and are committed to your company and its growth strategy.
• Your company has a committed team, with at least one full-time person being responsible for business development and other representatives of different areas complementing each other.
• We do not award funding for single-person businesses. At minimum, your team must consist of, for example, one full-time person and two half-time persons in company working in Finland. For example, the fact that the company has a full-time (i.e. 100%) CEO and in addition 2 other people part-time (50% each) meets the minimum team requirement.

A Tempo project should include a balanced mix of market surveys, collection of early customer feedback, and the development of the business model, technology and the company. A significant portion of the project costs should consist of expenses other than research and development expenses, such as:

• the preparation of an internationalisation strategy
• market analyses
• the testing or piloting of demand for the product and service concept among customers
• market validation
• test marketing
• the development of management, practices and the organisation to support international growth
• the analysis of growth funding
• IPR and patent analyses

If the company is pivoting its business, it may be possible for the company, at its discretion, to receive another Tempo funding even if it has previously been granted Tempo or Kiito funding. Tempo can also be used e.g. for developing game business.

Ensure commitment of private financers

We require the company to have at least EUR 30,000 in equity financing. Examples of acceptable equity financing are

• investments paid to the company in cash in share capital or invested unrestricted equity fund (SVOP)
• capital loans
• profit shown in the audited financial statements for the last full financial year.

Funding must come from entirely private sources.

Ensure self-financing for the project

The company must have sufficient funds for project implementation and other activities.

The maximum total cost of a project funded by Tempo is EUR 80,000. Business Finland can pay an advance of EUR 42,000 for the financing granted, and the rest when the project has been completed and the company has paid all the costs incurred by the project. Thus, the funds required for the implementation of the project are 38,000 euros. In addition, we consider the financing needs of the company's other operations, which will continue alongside the project.

Business Finland assesses the company's financial situation using the income statement attached to the application (see section Apply for financing, Appendix 2).

You can use the tools you want to ensure the liquidity of your company during the project. The attached cash flow statement is suitable for companies with an established business.

Cash flow template (in Finnish)

General requirements for financing

Business Finland will not grant funding if:

• the company has arrears, payment defaults or other outstanding financial obligations related to previous loans granted by Tekes or Business Finland
• the company has not submitted its financial statements to the Finnish Patent and Registration Office in accordance with the Limited Liability Companies Act
• the company's financial statements have not been audited in accordance with the Auditing Act
• the company is not in the prepayment register
• according to the Finnish Tax Administration, the company has overdue taxes or payments for which a payment plan has not been agreed upon
• the company has neglected registration, notification or payment obligations related to other statutory obligations.

Check de minimis aid

Tempo funding is a form of de minimis aid. The maximum amount of de minimis aid that can be granted to one company over the current and two previous tax years is EUR 200,000. De minimis financing of companies belonging to the same group or control (eg on the basis of majority ownership or agreements) is added together.

Your company must assess how much de minimis funding it has received in previous years at the application stage. Such aid is granted by many public organisations, such as Finnvera and the ELY Centres.

Read more about de minimis aid

Read the terms and conditions of funding

The terms and conditions of funding indicate what costs Business Finland can finance, how project costs will be monitored and how the progress of the project must be reported.

Read the terms and conditions of funding

Send us your application and its attachments through our online services. In your application, describe the current state of your business operations, your personnel and resources, your growth vision for the future, as well as your project's activities, goals and costs. You can monitor the processing of your application in our online services.

To online services

Set goals for your project

Define 2–5 measurable goals for your project in your application. The goals must be linked to your project's concrete results and your company's business development. Project goals will be recorded in the funding decision, and Business Finland will monitor their achievement. Goal achievement will be an important factor when considering possible Business Finland funding for the next stage of the project.

Examples of project goals:

• Finding out additional private funding
• Studying new markets
• Strengthening the management team and Board of Directors
• Implementing customer pilots
• Determining the required properties of products/services (product market fit)
• Determining the partner network
• Drawing up or updating a strategy
• Creating a new management or operating model

Appendix 1. Project plan

Attach a project plan with your application. The plan can be either entered directly in the application form fields, or attached to the application as a separate file. If you do not already have a project plan, you can use the Tempo project plan template.

Appendix 2. Financial information on the company

Attach an income statement no more than two months old and a balance sheet from the current financial period with your Tempo application.

Eligible costs

Costs can be approved from the date when the application was sent at the earliest. Eligible costs include:

Pay
If a person owns at least 10% of a company, EUR 3,000 per month is the maximum amount that can be accepted as their total monthly salary. The recipient of the funding may declare the salaries that will be paid in conjunction with the project.

Indirect personnel costs
Indirect personnel costs may not exceed 30 per cent of the wages paid.

Purchased services
Purchased services must be itemised in the project plan: service, service provider and costs. The services purchased must be expert services. Services purchased from interested parties will not be accepted. Purchased services must be put out to tender in accordance with the Act on Public Procurement and Concession Contracts if the amount of a single purchase or series of linked purchases is EUR 60,000 or more. A binding contract for the procurement of services should not be concluded before the submission of the application.

Other costs
Other costs will be accepted up to the amount of 20 per cent of the amount of wages and purchased services. Other costs do not need to be itemised.

Non-eligible costs

• Expenses incurred during the routine activities of the company
• Costs incurred in supporting of exports or export marketing
• Direct investments in building distribution channels
• Vocational education