Grants & Funding "Finland"
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Grants & Funding
Finland offers a variety of government funding programs for businesses, with a focus on supporting innovation, R&D, and growth both locally and internationally. Below is an in-depth overview of the main funding programs, including those from Business Finland, ELY-Keskus, Finnpartnership, Finnfund, the EIC Accelerator, and EU Horizon.
Business Finland
Business Finland is the main public funding body that offers several funding instruments for companies at different stages of growth and innovation. The main programs are:
a) Innovation Voucher
The Innovation Voucher from Business Finland is designed to support small and medium-sized enterprises (SMEs) in developing new products, services, or processes. Here are the details:
1. Purpose
- The Innovation Voucher aims to encourage SMEs to invest in innovation activities.
- It is used to purchase expert services that help develop new ideas or innovative products, services, or processes.
- These services may include assessments of technology, product development, market research, or intellectual property rights talk to Susan…
2. Eligibility Criteria
- The applicant must be a registered SME in Finland with a Business ID.
- The company should have a new innovation or development project that requires external expertise.
- The company must have sufficient financial standing and resources to carry out the proposed development work.
- The applicant cannot have received other Business Finland funding for the same project.
- Public organizations, foundations, or associations are not eligible talk to Susan…
3. Funding Amount
- The maximum amount of the Innovation Voucher is €6,000 (VAT excluded).
- Business Finland funds 80% of the costs, while the company is responsible for the remaining 20% of the eligible costs.
- The company’s self-financed portion must be at least €1,500 talk to Susan…
4. De Minimis (Part of De Minimis Aid)
- Yes, the Innovation Voucher falls under de minimis aid regulation.
- This means that the total de minimis aid received by the company cannot exceed €300,000 over the current and the previous two fiscal years talk to Susan…
5. Application Website
- Applications for the Innovation Voucher can be submitted through Business Finland’s online portal:
b) Tempo Funding
The Tempo funding from Business Finland is designed to support early-stage companies in accelerating their growth and preparing for international expansion. Here’s a detailed breakdown:
1. Purpose
- The Tempo funding is aimed at helping startups and SMEs validate their business concept and fast-track their growth.
- It supports activities related to product development, market research, and internationalization.
- The funding helps companies develop their business models, test market potential, and attract new customers or investors, especially in international markets talk to Susan…
2. Eligibility Criteria
- The applicant must be a small or medium-sized enterprise (SME) registered in Finland with a Business ID.
- Startups and early-stage companies (typically less than 5 years old) are eligible.
- The company must demonstrate growth potential and plans for international expansion.
- The company should have sufficient own financing to cover its share of the project costs.
- The company must not have received significant amounts of public funding previously talk to Susan…
3. Funding Amount
- The maximum funding from Tempo is €60,000, covering up to 75% of the total project costs.
- The total project cost is typically around €80,000, meaning the company must contribute 25% of the project costs (around €20,000) talk to Susan…
4. De Minimis
- Yes, the Tempo funding is part of the de minimis aid regulation.
- Under this regulation, the maximum amount of de minimis aid a company can receive is €300,000 over the current and previous two fiscal years from all public funding sources combined talk to Susan…
5. Application Website
- You can apply for Tempo funding through Business Finland’s portal:
c) R&D and Piloting Funding
The R&D and Piloting Funding from Business Finland is designed to support companies in developing new products, services, or processes and to carry out piloting projects to validate their innovations. Below are the details:
1. Purpose
- The funding supports companies in conducting research and development (R&D) activities aimed at developing new, innovative products, services, or processes.
- It also covers piloting and proof-of-concept projects to test and validate the developed solutions before commercializing them.
- The goal is to help companies reduce the risks associated with innovation projects and encourage businesses to invest in new technologies and market-driven R&D.
- It can be used for developing disruptive innovations and building the company’s technological know-how talk to Susan…
2. Eligibility Criteria
- The applicant must be a registered Finnish company, typically an SME, although larger companies can also apply.
- The company must have sufficient financial capacity to cover its share of the project’s costs.
- The project should aim to create something innovative and new to the market.
- The company must demonstrate the potential for international growth or expansion through the project.
- Collaborations between companies and research organizations are encouraged, but the lead applicant must be a company talk to Susan…
3. Funding Amount
- The funding covers up to:
- 50% of project costs for large companies.
- 70% of project costs for SMEs.
- 100% of costs for research organizations when they are partners in a consortium project.
- The typical funding amounts vary based on the size and scope of the project, but can range from tens of thousands to millions of euros, depending on the R&D needs and pilot testing requirements talk to Susan…
4. De Minimis (Not Part of De Minimis Aid)
- The R&D and Piloting Funding does not fall under the de minimis aid regulation.
- This means it is not limited by the €200,000 or €300,000 cap on de minimis aid and can be used for larger projects talk to Susan…
5. Application Website
Applications for R&D and Piloting Funding can be submitted via the Business Finland online portal:
d) Young Innovative Company (NIY) Funding
The Young Innovative Company (NIY) Funding from Business Finland is specifically aimed at helping young startups accelerate their international growth. Here’s a detailed breakdown of the funding:
1. Purpose
- The NIY funding supports young and innovative companies in accelerating their growth and international expansion.
- The funding helps companies develop their business capabilities, improve market entry strategies, and secure a stronger position in global markets.
- It focuses on companies that already have a promising business idea, validated in the market, and are ready for rapid growth.
- The funding helps companies build international sales networks, scale their business models, and attract investors talk to Susan…
2. Eligibility Criteria
- The applicant must be a young company, meaning typically less than 5 years old, and registered in Finland.
- The company must demonstrate high growth potential and a readiness for international expansion.
- The business must have a scalable product or service with clear competitive advantages.
- The company must have a solid team with the capacity to implement its growth plan.
- The company should have validated its business model in the domestic market and must now be focused on internationalization.
- The company must not have received the maximum amount of NIY funding previously.
- The company must have a track record of attracting private investments or investor interest, showing the potential for external financing talk to Susan…
3. Funding Amount
- NIY funding is awarded in three phases and can total up to €1.25 million.
- In each phase, the funding amounts are structured as follows:
- Phase 1: Up to €250,000.
- Phase 2: Up to €500,000 (after the successful completion of the first phase).
- Phase 3: Up to €500,000 (after the successful completion of the second phase).
- The company is required to contribute 50% of the total project costs for each phase. This means for a project with €250,000 from Business Finland, the company must invest €250,000 from its own resources or external investors, making the total project cost €500,000 in each phase talk to Susan…
4. De Minimis (Not Part of De Minimis Aid)
- The NIY funding does not fall under the de minimis aid regulation.
- It is treated as direct public funding and is subject to the EU’s state aid rules for innovation and growth funding, rather than the limits of de minimis aid talk to Susan…
5. Application Website
- Applications for Young Innovative Company funding can be submitted through Business Finland’s online portal:
2. ELY-Keskus Funding
ELY Centres (Centres for Economic Development, Transport, and the Environment) provide funding for SMEs in Finland. Their focus is on regional development, helping companies to expand and increase competitiveness.
a) Development and Growth Funding (ELY)
The Development and Growth Funding from Business Finland is aimed at helping companies expand and strengthen their operations, especially in international markets. Here are the details:
1. Purpose
- The Development and Growth Funding supports companies in developing business operations and preparing for international growth.
- It funds projects focused on business development, growth strategies, and the internationalization of products or services.
- The funding helps companies enhance their competitiveness, develop new business models, and create strategies for entering foreign markets.
- It also supports projects that involve the development of technological capabilities, market entry plans, and improving sales and marketing activities for growth talk to Susan…
2. Eligibility Criteria
- The applicant must be a Finnish company that shows growth potential and is aiming for international expansion.
- Both SMEs and large companies are eligible, but companies should have a well-defined growth or development project.
- The company must have financial stability and be capable of covering its portion of the project costs.
- The project should demonstrate a clear potential for international success and scaling, with a focus on growth through product or service development, or entering new markets.
- The company should have a team with the necessary skills to implement the growth plan talk to Susan…
3. Funding Amount
- Business Finland’s Development and Growth Funding typically covers between 50% to 70% of the project costs, depending on the size of the company.
- SMEs: Up to 70% of the eligible project costs.
- Large companies: Up to 50% of the eligible project costs.
- The actual amount depends on the size, scope, and international potential of the project. The funded projects can range from hundreds of thousands to millions of euros.
- The company must co-finance the project, contributing 30%-50% of the costs, depending on the company size talk to Susan…
4. De Minimis (Not Part of De Minimis Aid)
- The Development and Growth Funding is not part of de minimis aid.
- It follows the EU’s state aid rules for growth and development funding, which allows for more substantial support beyond the de minimis limits talk to Susan…
5. Application Website
- Applications for Development and Growth Funding can be submitted through the Business Finland online portal:
b) Investment Funding (ELY)
The Investment Funding offered by the ELY Centers (Centers for Economic Development, Transport and the Environment) in Finland, often referred to as ELY Investment Funding, is aimed at supporting companies in improving their operations, growing their business, and making investments that enhance competitiveness and internationalization. Below are the details:
1. Purpose
- Investment Funding is designed to support companies in making long-term investments that enhance growth, competitiveness, and sustainability.
- The funding helps finance equipment, machinery, or other capital expenditures required to scale up business operations or improve production efficiency.
- It can also support investments in sustainability initiatives, such as energy efficiency and environmental technologies.
- The funding is intended to help companies modernize or expand operations, develop new products, or enter new markets, with a focus on long-term growth talk to Susan…
2. Eligibility Criteria
- The applicant must be a registered company in Finland. Both SMEs and larger companies are eligible, though SMEs are typically the primary beneficiaries.
- The company must be in a stable financial position and have a clear investment plan that outlines how the funding will contribute to growth or improved operations.
- The investment project must be well-defined, with goals related to growth, efficiency, sustainability, or international expansion.
- The company should demonstrate that the investment will result in measurable improvements in competitiveness, either through cost savings, productivity improvements, or expansion into new markets.
- The investment must align with the ELY Center’s strategic objectives, which typically focus on regional development, innovation, and sustainability talk to Susan…
3. Funding Amount
- The amount of Investment Funding depends on the size of the company and the scope of the investment.
- For SMEs, the funding typically covers up to 35-45% of eligible investment costs.
- For larger companies, the funding rate is generally lower, around 20-25% of eligible costs.
- The total funding amount varies based on the project’s size but can range from tens of thousands to several million euros, depending on the investment scale.
- Companies are required to provide their own capital to cover the remaining portion of the investment costs talk to Susan…
4. De Minimis (Yes, Part of De Minimis Aid)
- Yes, Investment Funding from ELY is often subject to the de minimis aid regulation.
- Under de minimis rules, a company can receive a maximum of €200,000 in public aid over three fiscal years, including any aid from other public funding sources talk to Susan…
5. Application Website
- Applications for ELY Investment Funding can be submitted through the local ELY Center’s online portal or via the Business Finland website, depending on the region and specific funding type:
3. Finnvera Funding
Finnvera Funding is a key financial instrument in Finland aimed at supporting businesses through loans, guarantees, and export credit. It helps companies at various stages of their development, from startups to established firms, particularly those expanding into international markets. Below are the details:
1. Purpose
- Finnvera Funding aims to support companies by providing loans, guarantees, and export credits to promote growth, internationalization, and competitiveness.
- The funding helps businesses finance investments, working capital, and export operations.
- Finnvera plays a vital role in reducing the financial risks for Finnish companies, especially SMEs, by providing funding that complements bank financing or covers areas where traditional financial institutions may not take risks.
- Its main goal is to promote entrepreneurship, exports, and foreign trade while helping companies expand into international markets talk to Susan…
2. Eligibility Criteria
- Finnish companies of all sizes are eligible, from startups to established firms.
- The company must demonstrate financial viability and have a solid business plan.
- For loans, the company should be able to repay the loan and manage its finances responsibly.
- For guarantees, the company must demonstrate the need for the guarantee to secure loans or funding from other financial institutions.
- Export financing is available for companies that are expanding into international markets and need help managing the risks of foreign trade.
- Companies in almost all sectors can apply, with the exception of certain high-risk industries as specified by Finnvera’s policies talk to Susan…
3. Funding Amount
- Loans: Finnvera provides various types of loans, including:
- Startup loans: Up to €100,000 for new businesses.
- Working capital and investment loans: The amounts vary depending on the company’s needs, project size, and financial situation. There is no fixed maximum, and loans can range from tens of thousands to millions of euros.
- Guarantees: Finnvera can provide guarantees to cover up to 80% of the loan amount for loans from other financial institutions. Guarantees can range from smaller amounts for working capital needs to large sums for significant investments or international expansion.
- Export Credit Guarantees: Finnvera offers export credit guarantees to protect companies against foreign buyer risks and ensure they receive payment. These guarantees are particularly important for large international contracts talk to Susan…
4. De Minimis (Yes, Part of De Minimis Aid)
- Finnvera Funding is often subject to de minimis aid regulation, depending on the specific product or type of financing provided.
- Companies can receive up to €200,000 in de minimis aid within a three-year period, including other forms of public funding. This cap applies to certain loan products or guarantees offered under de minimis aid rules talk to Susan…
5. Application Website:
- Companies can apply for Finnvera Funding through their online portal, where they can submit applications for loans, guarantees, and export financing.
4. Finnpartnership
Finnpartnership is a funding program managed by Business Finland that aims to promote partnerships between Finnish companies and businesses in developing countries. It focuses on supporting projects that contribute to the economic development of these countries while also creating business opportunities for Finnish firms. Here are the details:
Where to Apply for Support Money?
Finnpartnership provides support money for projects aimed at developing long-term business partnerships between Finnish companies and organizations in developing markets. This support covers joint activities, such as the piloting of innovations and services, as well as the development of existing business operations. Talent Bridge is a participant in this program, utilizing the funds to enhance business development and foster strategic international cooperation.
Types of Projects Supported by Finnpartnership
Finnish organizations whose activities are aimed at developing markets can apply for support money under the following categories:
- Long-term Business Partnerships: Projects designed to foster ongoing partnerships between Finnish companies and local partners in target countries.
- Piloting with ODA-Eligible International Organizations: Projects that aim to pilot new products and services in cooperation with organizations eligible for official development assistance.
- Investment Project Feasibility Plans: Feasibility studies and plans to support investments in developing markets.
- Support Functions: Non-commercial projects aimed at improving local business ecosystems and supporting sustainable business development.
Phases of Supported Projects
Finnpartnership supports various phases of a business project, including but not limited to:
- for partner (business partner or business partners) identification
- to make a project report
- to create a business plan
- for environmental and social impact assessment
- for piloting and demonstrations of technology and solutions
- for local staff training
- for the development of the existing business in the target country
1. Purpose
- Finnpartnership aims to promote sustainable business partnerships between Finnish companies and companies in developing countries.
- It supports the creation of business activities that are mutually beneficial, encouraging the transfer of technology, knowledge, and expertise from Finland to developing markets.
- The goal is to contribute to the economic and social development of these regions while opening up new market opportunities for Finnish businesses.
- The funding is typically used to cover feasibility studies, business development costs, pilots, and partnership projects in target countries.
- Projects funded by Finnpartnership must adhere to the principles of sustainable development and promote corporate responsibility talk to Susan…
2. Eligibility Criteria
- Finnish companies or other entities with a focus on developing partnerships in developing countries are eligible to apply.
- The companies must be registered in Finland and have the capacity to implement the proposed project.
- Eligible projects include those that establish or develop commercial cooperation, technology transfer, or knowledge sharing between Finnish firms and local partners in developing markets.
- The target countries are typically low- and middle-income countries, as classified by the OECD Development Assistance Committee (DAC).
- Both SMEs and larger companies can apply, but the project should show a clear development impact in the target country and meet sustainability standards.
- The project must promote responsible business practices in areas like environment, social impact, and governance talk to Susan…
3. Funding Amount
- The amount of funding provided by Finnpartnership can cover up to 50-85% of the project’s total cost, depending on the size of the company and the project scope.
- Small companies: Up to 85% of the project costs.
- Medium-sized companies: Up to 75% of the project costs.
- Large companies: Up to 50% of the project costs.
- The maximum funding available typically ranges from €100,000 to €400,000, depending on the nature of the project and the country involved.
- Finnpartnership generally funds feasibility studies, business plans, pilot projects, and other preparatory work that establishes business in developing countries talk to Susan…
4. De Minimis (Yes, Part of De Minimis Aid)
- Finnpartnership funding is often provided under the de minimis aid regulation.
- Under the de minimis rules, a company can receive a maximum of €200,000 in public aid over a three-year period, which includes all de minimis aid from various sources talk to Susan…
5. Application Website
- Applications for Finnpartnership funding can be submitted through the Finnpartnership portal
Quick links:
E-services and login
6. Application Workshops
Finnpartnership regularly organizes virtual application workshops to help applicants understand the process of applying for support money. These workshops provide essential guidance on application requirements, project types, and deadlines, ensuring that companies like Talent Bridge are well-prepared to submit their proposals.
5. Finnfund
Finnfund is a Finnish development financier that provides long-term risk capital for private projects in developing countries. It aims to promote sustainable development by investing in responsible businesses that create jobs, improve livelihoods, and contribute to environmental sustainability. Below are the details:
1. Purpose
- Finnfund provides long-term investment financing to companies operating in developing countries, with a strong emphasis on promoting sustainable development.
- It invests in businesses that foster economic growth, create employment, and help reduce poverty while also contributing to the environmental and social well-being of the host country.
- Finnfund’s primary focus areas include renewable energy, sustainable forestry, agriculture, financial inclusion, and innovative solutions in various industries.
- The purpose is to invest in projects that have a high development impact while offering reasonable returns, thus helping Finnish companies establish themselves in new markets talk to Susan…
2. Eligibility Criteria
- The project must be in a developing country or a lower middle-income country as classified by the OECD.
- Both Finnish companies and local companies in developing countries are eligible to apply, but projects should have a strong link to sustainable development and should align with Finnfund’s focus areas (e.g., renewable energy, climate action, inclusive finance, etc.).
- The projects should show a positive impact on the local economy, such as creating employment, improving livelihoods, or contributing to environmental sustainability.
- The applying company must demonstrate a viable business plan and a clear strategy for long-term sustainability.
- Finnish involvement is not mandatory but is considered a plus. Projects with links to Finnish businesses or those involving Finnish expertise or technology have a better chance of being supported.
- Companies must demonstrate corporate responsibility and adhere to environmental, social, and governance (ESG) principles talk to Susan…
3. Funding Amount
- Finnfund provides various types of financing, including equity investments, loans, and guarantees.
- The funding amount can vary significantly based on the project’s scale and sector. Investments typically range from €1 million to €20 million.
- Equity Investments: Finnfund can take an equity stake in the company, typically between 10% and 30% ownership.
- Loans: Finnfund provides long-term loans that range from a few million euros up to €20 million, depending on the project’s size and scope.
- Guarantees: Finnfund may also offer guarantees to support companies’ ability to raise capital from other sources.
- Finnfund aims to finance projects that can generate long-term returns while supporting sustainable development goals talk to Susan…
4. De Minimis (No, Not Part of De Minimis Aid)
- Finnfund funding is generally not part of de minimis aid.
- Since Finnfund operates as a development financier and impact investor, its investments are structured differently from traditional public funding or state aid mechanisms like de minimis.
- Finnfund operates on a commercial basis, meaning its financing is not subject to the de minimis cap of €200,000 over three years. However, it expects projects to be financially sustainable and capable of repaying loans or providing returns on equity investments talk to Susan…
5. Application Website
- Applications for Finnfund funding can be made through the official Finnfund website:
6. Finceed
Finceed is a specific funding instrument in Finland that provides financial support for innovation and business development projects. Here are the detailed aspects of Finceed funding:
1. Purpose
- Finceed aims to support innovative projects that have the potential to drive business growth and technological advancement in Finland.
- The funding focuses on developing new products, services, or technologies, particularly those with a strong market potential.
- It is intended to help companies scale their operations, accelerate product development, and enhance their competitive edge.
- The goal is to foster innovation and economic development by providing financial resources to businesses working on high-impact projects talk to Susan…
2. Eligibility Criteria
- The applicant must be a company registered in Finland.
- The project should be innovative, demonstrating technological advancement or significant improvements in existing products or services.
- The company must have a clear business plan that outlines how the project will lead to growth and market expansion.
- The project should show potential for high impact, including aspects like increased competitiveness or job creation.
- The company should demonstrate financial stability and the capacity to manage the funded project effectively talk to Susan…
3. Funding Amount
- Finceed provides varying amounts of funding depending on the scale and nature of the project.
- The funding can cover up to 50% of the project costs, with the maximum grant amount typically ranging up to €500,000.
- The exact amount of funding is determined based on the project’s scope, financial requirements, and expected impact.
- Funding can be used for costs such as research and development, pilot projects, and market entry activities talk to Susan…
4. De Minimis (Yes, Part of De Minimis Aid)
- Finceed funding is subject to de minimis aid regulations.
- Under these regulations, companies can receive up to €200,000 in de minimis aid over a three-year period, including other forms of public funding.
- This cap ensures that the funding does not distort competition excessively and is in line with EU state aid rules talk to Susan…
5. Application Website
- Applications for Finceed funding can be submitted through the Business Finland portal
7. EIC Accelerator (European Innovation Council Accelerator)
The EIC Accelerator (European Innovation Council Accelerator) is a funding instrument within the European Union designed to support innovative startups and SMEs with high growth potential. Here are the detailed aspects:
1. Purpose
- EIC Accelerator aims to support highly innovative companies that are developing groundbreaking technologies or disruptive innovations.
- The purpose is to help these companies scale up and bring their innovative solutions to market, ultimately contributing to the EU’s economic growth and technological leadership.
- The funding is designed to support projects with significant impact potential, including high-risk innovations that may not yet be commercially viable without financial assistance.
- The focus is on companies with a high potential for growth and socio-economic impact, addressing global challenges and fostering technology-driven entrepreneurship talk to Susan…
2. Eligibility Criteria
- Company Type: The applicant must be an SME (Small and Medium-sized Enterprise) or a start-up based in an EU Member State or an Horizon Europe Associated Country.
- Innovation: The project must involve highly innovative and technologically advanced solutions with the potential for significant market disruption.
- Growth Potential: The company should demonstrate high growth potential and a clear path to market entry and scalability.
- Team: The company must have a capable management team with the skills and experience necessary to implement the project successfully.
- Business Plan: The project proposal must include a detailed business plan, including financial forecasts, market analysis, and go-to-market strategy.
- Technology Readiness: The innovation should be at least at Technology Readiness Level (TRL) 6 or higher, indicating that the technology has been demonstrated in a relevant environment talk to Susan…
3. Funding Amount
- Grant Component: Up to €2.5 million in grant funding is available, which can cover up to 70% of the total eligible project costs for innovations with high risks.
- Equity Component: The EIC Accelerator also offers the possibility of equity investment, providing up to €15 million in equity financing for scaling up and commercialization.
- The funding amount can vary depending on the project’s needs, risk level, and expected impact, with a combination of grant and equity often being used to support various aspects of the project talk to Susan…
4. De Minimis (No, Not Part of De Minimis Aid)
- EIC Accelerator funding is not part of de minimis aid.
- The funding is provided under the Horizon Europe program, which is distinct from de minimis aid regulations.
- As an EU-wide program, the EIC Accelerator operates under state aid rules that allow for larger funding amounts and are aimed at promoting innovation and technological advancement across Europe talk to Susan…
5. Application Website
- Applications for the EIC Accelerator can be submitted through the EIC Funding and Tenders Portal
Quick links:
Eligibility | Open calls for funding | 2024 call for proposal | Success stories
8. EU Horizon Europe
Horizon Europe is the European Union’s key funding program for research and innovation, succeeding the Horizon 2020 program. It aims to drive Europe’s global competitiveness and foster innovation. Here are the detailed aspects of this funding instrument:
1. Purpose
- Horizon Europe aims to support research and innovation across Europe, enhancing scientific excellence, industrial leadership, and societal challenges.
- The program focuses on addressing key global challenges, such as climate change, health, digitalization, energy, and security.
- It seeks to boost economic growth, create jobs, and foster scientific breakthroughs and technological advancements.
- The program funds a wide range of activities, including fundamental research, applied research, technology development, and demonstration projects talk to Susan…
2. Eligibility Criteria
- Participants: The program is open to a wide range of entities including universities, research organizations, SMEs, large companies, public authorities, and non-profit organizations.
- Location: The entities must be based in EU Member States or Horizon Europe Associated Countries.
- Project Type: Projects should align with Horizon Europe’s work programs and call topics, focusing on research, innovation, and demonstration activities.
- Consortium Requirements: For most calls, a consortium of multiple partners from different countries is required, although some calls may accept single-entity applications.
- Excellence: Proposals must demonstrate scientific excellence, innovation potential, and impact in addressing the specific objectives outlined in the call for proposals talk to Susan…
3. Funding Amount
- Funding Levels: The funding amount varies based on the call and project type. For many calls, up to 100% of the eligible costs are covered for research and innovation actions. For innovation actions, the funding is typically up to 70% of eligible costs (or up to 100% for non-profit organizations).
- Grants and Instruments: Horizon Europe provides various funding instruments, including grants, loans, and equity financing.
- Project Budget: Funding can cover a significant portion of the project budget, with some calls offering millions of euros in funding for large-scale projects. Exact amounts depend on the specific call and project scope talk to Susan…
4. De Minimis (No, Not Part of De Minimis Aid)
- Horizon Europe funding is not part of de minimis aid.
- The program is governed by EU state aid rules, which allow for larger funding amounts and are designed to support significant research and innovation activities without the constraints of de minimis aid limits.
- As part of the EU framework, the funding is designed to support substantial projects and initiatives that contribute to the EU’s strategic goals and scientific advancement talk to Susan…
5. Application Website
- Applications for Horizon Europe can be submitted through the European Commission’s Funding and Tenders Portal
ITEA 4 Eureka RD&I
The ITEA 4 Eureka RD&I cluster focuses on fostering innovation in software-intensive projects, supporting R&D efforts across multiple industries. Here’s a detailed breakdown:
1. Purpose:
- Support software innovation and R&D projects across multiple industries.
- Stimulate digital transformation and drive sustainable growth through groundbreaking solutions.
- Address urgent societal challenges by creating impactful software innovations in AI, machine learning, and big data.
- Encourage collaborative international projects that result in real-world applications and solutions.
- Promote cross-industry innovation through partnerships with various Eureka Clusters talk to Susan…
2. Eligibility Criteria:
- Participation is open to companies (including SMEs), research institutes, and academic institutions.
- Each partner must apply for national funding based on their country’s specific rules.
- Projects should align with national priorities and the strategic goals of the ITEA program.
- International collaboration is a core requirement, with participants forming consortia from multiple countries talk to Susan…
3. Funding Amount:
- The funding is managed nationally, meaning each country sets its own funding limits.
- Available funding varies, with some countries offering significant financial support for R&D projects.
- Participants need to check their country’s public authority guidelines to understand the total available funding talk to Susan…
4. De Minimis:
- The ITEA 4 program itself is not directly subject to de minimis aid rules.
- However, national regulations may include funding caps under de minimis rules, depending on the country’s public authority talk to Susan…
5. Application Website:
- National public authorities handle the application process after a project receives the ITEA label.
- Detailed information on the application process and national funding contacts is available on the ITEA 4 website:
Success Rates and Application Timeline
Success Rates: Success rates for many of these funding programs depend on the competitiveness of the program and the quality of the application. For Business Finland programs, the success rate is typically between 20-40%. EU Horizon funding is highly competitive with success rates around 10-15%. For the EIC Accelerator, success rates are usually between 5-8%.
Timeline: After submitting an application, it generally takes between 2-6 months to receive funding, depending on the program. For Business Finland, initial approvals can take a few weeks, but disbursement of funds can take several months. For EU and international programs like Horizon and EIC, the evaluation process can take up to 6 months or more.