Discretionary government transfers for circular economy investment and development projects
As a part of its innovation subsidising package, the Government is providing assistance to the development of the circular economy's business ecosystems, the renewal of companies and sustainable growth. A sum of 2 million euros in discretionary government transfers has been approved for 2018 and a further 2 million for 2019.
The Government hopes to see the subsidy-instruments for the circular economy encourage companies and actors to start planning investments and launch activities with these investments. These instruments also aim to encourage companies and actors to seek partners from different sectors and different operating environments so that the circular economy's material flow and customer needs are balanced.
The aim is for discretionary government transfers is to speed up larger packages and broad-scoped projects. The circular economy projects, which receive assistance in the form of transfers granted by the Ministry of Economic Affairs and Employment (MEE), must support the main objectives set for the Government's key projects, which include sustainable growth of the economy and an increase in new jobs. In addition, investments aim to use bioeconomy, clean solutions and circular economy methods to influence a systematic change towards sustainable models for economic activity.
Business Finland (BF) and Sitra have their own grants for promoting the circular economy. The MEE, BF and Sitra have agreed on cooperation which will facilitate funding services for circular economy that will supplement one another.
Applications may be presented to a limited group of people in the Business Finland and Sitra units that decide on grants and a proposal may be made to combine grants or a different type of grant may be proposed for the applicant, if it is more likely to facilitate the successful implementation of the project.
Discretionary government transfers for circular economy investment and development projects can be used in the following manner:
- primarily, for the deployment and expansion of technology and service models related to the production of the circular economy's new solutions and processes and secondly, during the first application round for piloting and demonstration projects that are related to recycled products and materials, and the treatment of waste side-streams in Finland
- new technology and services related to the productisation of circular economy, or their impacts on the environment and national economy, which noticeably promote the breakthrough of the circular economy in Finland
- investments, which include new circular economy business models, new platforms or digital services, operating models as well as product and service design, which support production or use, repair, maintenance, updating, distribution, leasing or other commercial implementation of the circular economy or
- reports as well as preliminary reports and reports that support investments, which aim to promote the domestic investment activities of various circular economy actors.
Applications are submitted to the Ministry of Economic Affair and Employment.
Sari Tasa - sari.tasa(at)tem.fi