Aiming at business activities amounting to billions of euros
Business Finland uses the name Growth Engine to describe cooperation networks − ecosystems − aimed at new business activities amounting to more than one billion euros. For that purpose, they have received funding from Business Finland. Growth Engines are implemented through an enterprise-driven partnership model between companies, research organizations and public actors, which strives to find solutions to global market disruption and create new growth sectors in Finland.
Growing Engine funding enables
Business Finland has financed growth engines with capital loans and grants (orchestration funding).
Business Finland's granting authority is allocated in the state budget to research and development activities, which reduces the possibilities of using the funding for other purposes. Therefore, the financing of new growth engines has been stopped for the time being. Research and development projects related to the ecosystems of ongoing growth engines will continue to be funded.