Public research, development and innovation (RDI) funding
Public research, development and innovation (RDI) funding is intended to encourage businesses, research organizations and public service providers in RDI activity that promotes courageous renewal of industry and society as well as economic growth.
Business Finland channels public RDI funding
Business Finland, the Finnish Funding Agency for Innovation channels public research, development and innovation (RDI) funding to risky undertakings that have the potential to boost the renewal of the economy. Business Finland funding encourages renewal and growth.
Funding is provided in the form of grants and loans. It is available to companies, research organisations and providers of public services. Innovative SMEs aiming at growth through internationalisation are an important target group.
Funding is available for research, product development, business development as well as bold experiments.
Research institutions are eligible to receive funding for research that creates significant expertise with potential for economic and social renewal. Providers of public services may seek research and development funding for developing services, for developing organisational management and for innovative public procurement.
Founded in 2014, Business Finland Venture Capital Ltd is a venture capital investment company that makes investments funds investing in early-stage companies. The aim is to strengthen and diversify the provision of funding for early-stage companies in Finland.
The Ministry of Economic Affairs and Employment is responsible for controlling Business Finland and preparing legislation that concern its activities and funding.