The EU's new programming period has begun, and a renewed Eurostars is opening its first grant application process.
The renewed Eurostars program offers faster funding decisions, a new search portal and one important expansion: the innovation requirements for applicant companies have been made more flexible.
Eurostars funding is available to Business Finland's client organizations, as long as innovative SMEs have the largest role in the consortiums in terms of project cost estimates. Any Eurostars project has at least two participants. For example, there could be one SME from two different Eurostars countries. Consortiums can also include large companies, research institutions or universities.
Eurostars projects are clear product development projects and suitable for Finnish SMEs looking to internationalize. The financing covers 50% of costs.
Business Finland encourages SMEs to look for partner companies in their own target market and to plan their research and development projects jointly with them. The application period ends 4.11.2021.
Eurostars applications will undergo a European evaluation process. During the early stages of the evaluation process, Business Finland will provide a statement on Finnish applicants' eligibility for funding.
The evaluation will be completed in February 2022. Business Finland will make an official funding decision for Finnish stakeholders of projects that have been successful during the application process. Other countries will follow a similar process. The project can be launched when the participants have been granted funding in their own countries. Business Finland's usual terms and conditions for grant funding apply here as well, and reports on the project will be submitted every six months.
Thousands of European SMEs have already received support from the Eurostars program for product and service development over the last 13 months. The program is funded by the EU and 36 Eurostars countries. There are several Eurostars countries outside of the EU as well, such as Turkey and Canada.