Do you have a research idea, experience and networks that can help to create new business in developing markets? Do you want to build consortia towards sustainable business opportunities – together with Finnish companies?
With this Co-Creation funding call, Business Finland offers funding for building consortia towards sustainable business opportunities in developing markets. The funding call is implemented by Business Finland's Developing Markets Platform (DevPlat) that offers developing markets related funding and advisory services in cooperation with the Ministry of Foreign Affairs.
Purpose and objectives of the call
The aim of the call is to create significant, sustainable business opportunities for Finnish companies in developing markets and enable research organizations – research institutes, universities and universities of applied sciences – to conduct high-level scientific research.
This funding call encourages research organizations to build business-oriented consortia around a selected research idea and identified business opportunities in developing markets. The projects to be funded are intended to:
- Help research organizations to illustrate how the selected research idea can promote simultaneously both the Sustainable Development Goals (SDGs) and the business of Finnish companies in developing markets.
- Help research organizations to build a consortium around the selected research idea together with Finnish companies.
- Help research organizations to identify the most appropriate partners in developing markets to take forward the selected research idea and related business opportunities.
- Help research organizations to work on the selected research idea together with companies, local and other potential partners.
- Help research organizations to prepare a Business Finland Co-Innovation project to be implemented in close cooperation between the research organization and its new business partners.
Priorities of the call
This call will enable research projects focusing on developing markets as defined by the OECD, excluding China. Indonesia, Kenya, the Philippines and Vietnam are a particular geographic priority for this call.
Thematically, the call focuses on combining the needs of the target countries with the strengths of the Finnish economy – in particular digitalization, carbon neutrality and renewable energy, bio- and circular economy as well as health solutions.
The call will also emphasize links to business opportunities brought by the EU Global Gateway, International Financial Institutions and/or UN procurement.
This funding call targets especially research groups that already have:
- Company networks in Finland.
- Networks in developing markets, International Financial Institutions and/or the UN.
- Know-how to navigate the operational environment of developing markets.
Projects eligible for funding
Applicants for funding may be research organizations such as research institutes, universities or universities of applied sciences.
This funding call follows the general funding criteria and conditions of Business Finland's Co-Creation funding. A Co-Creation project aims towards a Co-Innovation joint project, which will be carried out in close cooperation between a research organization and companies. The aim is to create significant international business opportunities for the companies and enable the research organization to conduct high-level scientific research.
With Co-Creation funding, Business Finland supports especially:
- Co-creation between companies and research institutions.
- Building a committed company consortium around a research idea.
In addition to the general criteria for Co-Creation funding, the following specific criteria and evaluation grounds will be used for this call:
- The research idea and the solution to be developed target developing markets, in particular Indonesia, Kenya, the Philippines or Vietnam.
- The research idea and the solution to be developed focus on combining the needs of the target countries with the strengths of the Finnish economy – in particular digitalization, carbon neutrality and renewable energy, bio- and circular economy and health solutions – while credibly contributing to 1-2 Sustainable Development Goals (SDGs).
- The applicant's existing networks in the selected developing markets and know-how in navigating in the selected operational environments – verifiable, for example, through previous projects or other co-operation.
- The relevance of the research idea and the solution to be developed regarding business opportunities in developing markets as brought by the EU Global Gateway, International Financial Institutions and/or UN procurement as well as the applicant's existing networks and know-how in relation to these opportunities – verifiable, for example, through previous projects or other co-operation.
Business Finland can provide a research organization with funding covering 60% of the accepted total project costs. The project's total costs cannot exceed 100.000 EUR per idea. While several different research organizations may participate in the project, its total costs can still be a maximum of 100.000 EUR.
Applying for funding
Basic information about the applicant and the application is filled in via Business Finland's online service: To online service
When preparing an application, please select:
- Research organizations
- 'Funding service': Co-Creation
- 'Programmes and other connections': Developing Markets Platform (DevPlat)
Timetable
The duration of the projects to be funded can be 4-6 months.
The deadline for the applications is Tuesday September 26th 2023 at 11.59 p.m.
Before submitting your application, it is important to discuss with Business Finland. Towards this end, Business Finland offers the following opportunities:
- Info Session 1: 14.6.2023 at 11 a.m., Teams
- Info Session 2: 22.8.2023 at 13 p.m., Team Finland House & Teams.
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