The time for generative AI is now – is your company interested in changing the world?
At Business Finland, we encourage all business executives to consider whether your company could find a significant international competitive edge by exploring the possibilities of generative AI in your product, service, business model, and/or production processes.
At the AI Gala held in October, Risto Siilasmaa urged companies to invest in artificial intelligence development from their core processes, management, and company products and services. However, many companies have started their development work from support functions and Copilot implementation training. While this is certainly important, more ambition is now required!
Artificial intelligence as such is not a product but it creates added value as part of a digital product. AI enables not only the increase of productivity and efficiency, but also the development of new business models and value propositions.
Research and development funding from Business Finland is an excellent way to get started on the path to renewal. For research-focused projects, the grant for small and medium-sized enterprises can be up to 50 percent. After the research project, Business Finland can provide loans at an interest rate that is three percentage points lower than the current base rate, but at least one percent, for the development of commercial products or services.
We help companies onto the AI path
If your company does not have AI expertise within your organization, Business Finland can help find suitable partners from commercial operators or research organizations. It is good to remember that Finland's strength in AI is based on a solid academic foundation. Ambitious growth companies should take advantage of academic expertise even more.
The Orpo government is committed to the national goal of raising Finland's research and development expenditure to four percent of GDP by 2030. Next year, Business Finland's funding will increase to nearly 700 million euros, so at this point it can be stated that money is not an obstacle to development work.
We do not need more small, isolated digitalization and technology projects. We need companies with global ambition who will take research and development work to international commercial success.
Now, more than ever, we need to build future AI-driven technology companies. We need radical, pioneering innovations that attract capital, global partners, and world-class expertise.
Take the first step by learning about Business Finland’s Generative AI funding campaign and get in touch!