More efficient processes and better healthcare

In the Co-Innovation joint project, a university hospital, research institutes and companies work together to develop new knowledge and innovations that make it possible to build significant new business for the participating companies. The participants in the joint project have a common goal and need to carry out projects in collaboration, as well as a credible plan to achieve a common goal. The university hospitals create new knowledge and expertise together with the consortium to develop their processes, implement their own operations more efficiently and effectively, and develop the competitive advantage of the Finnish companies’ business in the long term.

What kind of consortium is needed for a Co-Innovation joint project?

• The minimum composition is 1 research organization, 1 university hospital and 3 corporate R&D projects, of which at least 2 are funded by Business Finland. One corporate project can be funded by the company itself. (In an international joint program, a consortium of 2 domestic companies is sufficient if foreign partners include companies.)​
  However, the minimum consortium is usually not sufficient to obtain funding in a competitive situation or to implement the goals of the joint project.​
• All parties to the joint project must have a clear role and added value in the consortium. ​
• The best partners are research organizations and companies that have the capabilities (expertise, technologies, etc.) needed to achieve the jointly defined goals and that themselves have a need and motivation for research and development work. ​
• More than one university hospital can also be involved in a joint project.​
• Business Finland generally only funds R&D projects of companies that aim to export. It is also worth paying attention to that partner companies have sufficient resources for research and development work and the cooperation within that framework.

Different possible roles of the university hospital in the Co-Innovation joint project

• A coordinator of a joint project, who builds a consortium of companies and research institutes around their project idea, and leads the joint project and the preparation and implementation of its joint plan; a university hospital usually also has its own research and development project.
• A participant in a joint project who has its own research and development sub-project for the development of its own statutory activities or economic activities.
• A subcontractor of services to a research institute or company.
• An in-kind partner which provides, for example, clinical expertise and testing environment to the joint project without charge

University hospitals are only funded in Co-Innovation joint projects, which also involve research organizations and companies with their own projects. The joint project must meet Business Finland's Co-Innovation funding criteria.

What kind of project can I get funding for?

• The university hospital's goal is to significantly improve its operations or make them more efficient through research and development, e.g. diagnostics of diseases, treatment and treatment methods, prevention, processes, data utilization, digital services, innovation activities, utilization of new technologies, management and organization.​
  Performance indicators, related e.g. to improved treatment outcomes or reduced treatment costs.
• The funding enables research and development activities from high-level research that meets scientific standards to development, testing and piloting. The work aims at results that can be utilized in the university hospital's own operations.
• Dissemination of the results more widely in Finnish healthcare increases the impact of the project.​
• The funding can be used for the salary costs of the university hospital’s own project staff for the purchase of services from research organizations or companies required for the project, for travel expenses, and for equipment and material costs. 

I​​s it possible to get funding to prepare for the commercialization of research and development work?

• ​​It is possible to include some preparation of commercialization paths in the project when potential income will be allocated to financing the public services of the university hospital, and the free utilization of the results in the public services is not jeopardized.
• The preparation of commercialization for the benefit of companies must be done outside the project, for example
• companies can pay compensation for it.
• The wellbeing services county can apply for research and development funding intended for companies to also develop their economic activities when the goal is export business. The funding can also be used to prepare a small-scale commercialization of the project results. In this case, the funding terms and conditions for companies’ research and development activities apply to wellbeing services counties, with Business Finland's funding being 40% grant or 50% loan.

Before applying for funding, discuss the planned project and the application with your wellbeing services county.

Business Finland experts - ecosystem managers and funding advisers - provide sparring assistance in preparing Co-Innovation joint projects. When the development idea and the parties of the joint project begin to take shape, it is worth contacting Business Finland. Be prepared to present the consortium and the joint project plan to the Business Finland contact person before submitting the funding application. Business Finland also comments on the R&D project plans before submitting the application. It is useful for participants in a Co-Innovation joint project to appoint a coordinator among themselves to lead the preparation and cooperation for the project.

Contact our expert: Outi Tuovila firstname.lastname (at) businessfinland.fi

Research organizations can receive Co-Creation funding from Business Finland for the preparation of Co-Innovation joint projects, but this research funding is not available for university hospitals. However, in Co-Creation preparatory projects, it is possible to collaborate between research organizations and university hospitals, and if necessary, the university can also purchase a service from the university hospital.

Learn about the financing terms and conditions for university hospitals' own operational development funding

(in Finnish)

Julkisten toimijoiden kehittämishankkeiden rahoitusehdot 

Learn about the evaluation criteria for Co-Innovation joint projects 

We will assess your Co-Innovation joint project as a whole and take into account other applications competing for funding. Important assessment criteria include:

• The impact of the Co-Innovation joint project's results on the companies' competitive advantage in international markets and the targeted export growth in relation to the necessary investments.
• Implementation of the joint project:
  • Are the parties to the joint project the right ones to achieve the results?
    How close and concrete is the cooperation in the joint project?
  • Is the division of work reasonable in terms of the desired results?
  • How will the project affect the development of the business of SMEs and midcap companies?
• The novelty value and competitive advantage of the solution, the impact on the renewal of business life, market potential, societal impact and the international cooperation of the project.

In university hospital projects, we assess how the new knowledge and expertise generated in the project and the development of processes affect the more efficient and effective implementation of the university hospital's tasks and the development of the Finnish companies’ competitive advantage in the long term.

In corporate projects, we assess how the project promotes the achievement of the company's growth goals and the creation of an international competitive advantage and exports. The company must have sufficient resources and self-financing to implement the project.

In research organization projects, we assess how public research creates a basis for new innovations and expertise and how the project results can be utilized for the needs of the business life. Product development work for companies cannot be carried out in a public research project. The results of the research project serve as the basis for the companies' own development projects.

Make sure there are no obstacles to obtaining funding

We cannot grant funding if, in addition to university hospitals, there are no companies and research organizations as applicants in the joint project.

Funding for the Co-Innovation joint project can be applied for continuously.

Completing and submitting a funding application

Applications for funding are made in Business Finland's online service. The coordinator uses the Co-Innovation main application form and all participants applying for funding use the Co-Innovation participant application form. Also read the instructions for completing applications.

1. The coordinator makes a main application, to which a joint project plan is attached
2. The participants in the joint project make their own applications and project plans
3. The coordinator sends all the applications to Business Finland

The project plan is a key annex to the application.

The Co-Innovation project must have a joint project plan, which can be up to 20 pages long. Read more detailed instructions on how to apply for Co-innovation funding.

In addition, companies and university hospitals must have their own detailed project plans. Here you can find a project plan template and instructions for filling it out.

Acceptable cost types in research and development projects include:

• salaries
• indirect personnel costs 50%
• overhead costs 20%
• travel costs
• material and supplies costs
• equipment purchases
• equipment depreciation
• equipment rentals
• purchased services