Applications for Innovation voucher and Group Explorer will close on October 17, 2024

Applications for the funding services Innovation voucher and Group Explorer will close on October 17, 2024 at 11:59 p.m. The closure of applications is in preparation for a change in the focus of Business Finland's funding authority at the turn of the year.

In the state budget proposal published on September 23, 2024, the focus of Business Finland's funding will shift even more towards the funding of research and development projects, and accordingly, cutbacks will have to be made to funding services not targeted at research and development work. The state budget is approved by Parliament in December.

The applications for the Innovation Voucher and Group Explorer have been decided to close on October 17, 2024, to allow Business Finland enough time to process the received applications within the end of the year. No granting authority has been allocated for the Innovation Voucher and Group Explorer for the year 2025.

What does the closure of the funding service application mean?

Once the application is closed in the online service, it will not be possible to open new applications or submit incomplete applications that were created before the closure.

Why were these particular funding services chosen to be closed?

- We apologize for any inconvenience caused by the closure of the funding services. However, options have been carefully considered, as we want to ensure that we use our dwindling resources not targeted at research and development work as effectively as possible, says Executive Director Timo Metsä-Tokila from Business Finland.

- The Innovation Voucher was chosen for closure because it has not fully met its set objectives. It has only generated limited new R&D activity and development work continuums into the orbit of our other funding services. The use of the Group Explorer funding service, on the other hand, has been minimal, and based on customer feedback, the service has been perceived as rather laborious. Although the Group Explorer service is ending, the Market Explorer funding service is still available for exploring market opportunities, Metsä-Tokila reminds.

There are still options available in funding services targeted at business growth and internationalization. Learn more about Business Finland's funding services and their criteria.