New value from AI and platform economy

Press release: AI Business program boosted the development, growth, and internationalization of Finnish AI companies

Target groups

AI Business was targeted at startup, SME, Midcap and large companies registered in Finland, and Finnish research organizations. Companies could apply for funding for their own development project or joint-project with other companies and research organizations.

Foreign companies could join the Finnish AI ecosystem and partner up with Finnish companies and research organizations.

Services

For companies:

• Funding for AI and platform economy research, for increasing the value of products and services with AI and platform economy and for development of new disruptive services
  • E.g. funding for AI-related Proof-of-Concept research projects 
• Support for improving know-how e.g. AI Breakfast networking and learning events and joint-events for networking with other Business Finland programs
• Global networks and new partnerships
• Providing information on suitable EU funding calls, services and partners
• Startups and SMEs conducting a significant research project, funded by Business Finland, could get free computing resources. The service was provided by the IT Center for Science CSC
• New information on AI and platform economy
• Market Intelligence studies
• Attracting global partners to invest in Finland and to become customers for Finnish companies

For research organizations:

• Funding and company partners for research e.g. in new technologies solving current AI technology short-comings (e.g. smaller amount of data, transparency, ease of use), natural language processing (NLP, especially language independent solutions), optimized human-AI-cooperation, new business models in platform economy and applying AI to new areas
• Sharing learnings and results and networking between research projects

For public sector:

• New information on AI and platform economy
• Funding for innovative public procurements
• Public procurement expertize and networks in cooperation with KEINO Competence Centre

Program objectives

• To increase the competitiveness and productivity of Finnish companies by creating innovations based on artificial intelligence and platform economy
• To increase expertise in AI and platform economy in companies, research institutions and universities
• To improve the productivity of the public sector by acquiring new AI and platform solutions
• To build digital private-public platforms to catalyze new innovations
• To encourage the adoption of innovations based on AI and platform economy
• To build competitive global ecosystems and make Finland an attractive target for investments

The program run from 2018 to 2021 with a total budget of over EUR 200 million, of which Business Finland covered appr. half. Business Finland also funded the development of digital platforms.