Do you have a project plan for an idea that could revolutionize your industry or create something completely new? Business Finland’s new funding call for the creative industries supports research and development projects that combine the expertise of research institutes with companies’ desire to renew themselves, grow, and improve their competitive position. Apply!
For which purposes can I apply for the grant?
You can apply for funding for research and development activities that produce new knowledge and new know-how in collaboration between companies and research institutes. The research and development activities can be related to areas such as new business models that strengthen the company’s competitiveness or innovative services and products that create added value for customers and challenge traditional operating models. The funding enables the company to focus on the development process. In addition, companies can network with experts and research organizations in their field. It creates valuable partnerships and new forms of collaboration.
Who can apply for the grant?
Research and development funding in the creative industries can be applied for and obtained by companies with an inspiring and viable idea and a joint project plan. The companies should collaborate with a research organization (*) that will bring the necessary academic expertise to the project. The consortium of the joint project must consist of at least one research organization and three companies, at least two of which have an R&D project of their own funded by Business Finland.
Companies can be Business Finland’s customers when they have
- a Finnish business ID
- sufficient resources and self-financing to implement the project, as well as versatile know-how and a diverse team
- a desire to grow in international markets
- a competitive advantage in international markets.
Co-Innovation joint projects must meet these criteria
- The joint project will significantly improve the international competitiveness of the companies involved and the renewal of any large companies involved in the consortium.
- The joint project will provide the companies with a high potential for new export business in comparison with the required R&D investments.
- The common goals of the joint project are ambitious, and the participants in the consortium have sufficient expertise and resources to achieve them. The parties to the joint project are genuinely engaged in close collaboration.
- The research conducted and the solutions produced through it have novelty value, market potential, credible commercialization plans, and social impact.
- The results of the public research project must also be widely available for use outside the Co-Innovation consortium. The research project must have a high-quality dissemination plan for the results.
How big a grant can I apply for?
In this call, Business Finland’s funding takes the form of a grant. The aid percentages vary depending on the size of the company and the content of the project.
- For research organizations, the grant amounts to 80% of the total project costs.
- For SMEs, the grant amounts to 50% in research-oriented projects and 35% in development-oriented projects.
- For midcap companies, the grant amounts to 40% in research-oriented projects and 25% in development-oriented projects.
- For large companies, the grant amounts to 40% in research-oriented projects. For large companies, funding is only granted to research-oriented projects with which the large company seeks a global competitive advantage. A large company should spend at least 40% of the total project costs to purchase services from SMEs and/or research organizations.
- In the projects of companies operating in non-creative industries, it is required that the companies utilize the know-how of the creative industries for at least 40% of the cost estimate.
The proportion between the total costs of research and business projects must be balanced in a Co-Innovation joint project. The greater the emphasis on applied research, the higher the share of business projects. In future-oriented high-risk joint projects, the share of research may be higher. No single project may exceed 70% of the costs of the joint project. In addition, the combined total costs of the research projects may not exceed 60% of the overall costs.
Schedule of the funding call
The funding call will be open from January 22, 2025 to August 27, 2025. Decisions will be made jointly after the end of the application period. If necessary, the application period can be extended.
How can I apply for funding?
You should complete the basic application information in Business Finland's online service. Please read the application instructions carefully, so that you know how to complete the different parts of the application.
Other
You should familiarize yourself with the background of Business Finland's research and development funding for the creative industries.
We will hold a webinar on the funding call on Wednesday, January 29, 2025 from 9 am to 10 am. Sign up for the webinar
