Business Finland is renewing its funding services to better support the needs of Finnish companies for international growth.
Changes coming into effect January 1, 2023
We have listened to our customers’ feedback and will renew funding for research organizations and joint projects between research organizations and businesses. Changes will be made to the requirements and levels of funding for the Co-Creation and Co-Innovation funding services that will facilitate cooperation between businesses and research, encourage companies to implement increasingly ambitious development goals and deepen international research cooperation. Co-Research will be introduced as a new funding service for research projects that create new business opportunities for Finnish export industries. Research organizations may apply for this funding only in specific funding calls.
Changes in Co-Creation funding:
- The requirements have been raised so that the project must aim to assemble a joint project with great business potential, create international cooperation and create new networks between companies.
Changes in Co-Innovation funding:
- The export potential of the Co-Innovation joint project in relation to the required Business Finland funding is assessed only referring to the R&D projects of companies, and research funding is no longer taken into account. The share of research may be higher in future-oriented high-risk Co-Innovation joint projects.
- In assessing the effectiveness of the Co-Innovation joint project, the consortium's cooperation plan and the dissemination plan to provide the research results outside the consortium will play a more important role than previously.
- The amount and quality of international cooperation affects the level of funding for the research project. The new level of funding for a research project working in close international cooperation is 80%.
All changes in details will be available at the web pages starting from January 1, 2023.
Welcome to the webinar on January 11, 2023, to learn more about our renewed research funding services.
Changes coming into effect January 16, 2023
The changes will apply to funding applications submitted to us as of January 16, 2023. All applications received before December 12, 2022, will be assessed according the 2022 funding criteria. Please note that all the funding services listed below are set to change on January 16, 2023, and application period will be suspended between December 12, 2022, and January 15 2023.
Changes in Tempo funding:
- To be granted only to start-ups under five years of age with a maximum of 50 employees and a maximum turnover/balance sheet of €10 million
- The total cost of the project will reach a maximum of €80,000, with a maximum subsidy of 75 % €60,000
Changes in Market Explorer funding:
- Issued in the future only to SMEs or midcap LLCs over the age of five
- The total cost of the project rises to €10,000–80,000, with a maximum subsidy of €40,000
- Salaries are also accepted as part of the project costs
Changes in Exhibition Explorer funding:
- Funding will increase to €1,000–35,000.
Changes in Innovation Voucher funding:
- Funding increases to €6,000
Talent Explorer funding will be replaced with Talent funding.
What is the new Talent funding:
- Talent funding aims to accelerate the reform of the working, organizational and management practices of internationalizing growth companies.
- Funding can focus on international competence management, corporate culture, improving recruitment capacity and developing a multicultural employer image.
- The new financial service is aimed at start-ups, SMEs and midcaps.
- A typical recipient of funding is a company employing more than ten people that renews its operating models to accelerate international growth.
- Funding can be used for both salary costs and outsourced expert services.
- The maximum project size is €100,000, of which 50% is subsidized by Business Finland