Boosting the business development of deep tech startups
The continuation of the Deep Tech Accelerator (DTA) funding will further accelerate the use of research results by startup businesses.
Deep tech startups create unique innovations for addressing global problems. They use findings and intellectual property rights generated by research, which is why their commercialisation phase is usually long and full of risks. The growth potential of deep tech startups is significant.
Last year, Business Finland piloted Deep Tech Accelerator funding for deep tech startups, intended for launching and developing international business. In the pilot, funding was granted to 17 startups. Based on the experiences gained during the pilot, it is clear that there is a need for such funding.
Business Finland has decided to open a new Deep Tech Accelerator funding call in June. The funding call is still targeted at startups less than five years old that have already launched their operations and commercialise the latest research results. Intellectual property rights and know-how must also play an essential role in the companies’ value creation, market potential and competitiveness, and their overall funding must be in order. Deep tech startups can use the funding to increase their market and customer understanding, adapt their solutions to these needs, strengthen their team, and plan and acquire financing, among other things. The goal of the funding is to accelerate the market entry of deep tech startups.
The new Deep Tech Accelerator funding model will consists of three EUR 400,000 phases, the first two of which are grants and the third is a loan. Each phase is estimated to last between 12 and 18 months. Business Finland’s funding will cover 75% of the total budget.
This is how you can apply for funding
Discuss with Business Finland about your company’s suitability for DTA funding. Please contact the contact persons mentioned in the funding call information or your own Business Finland contact person as soon as possible if you are interested in the funding.
The application period will begin on 1 June 2024. The application and its appendices must be submitted via Business Finland’s online service by 8 September 2024 at 11:59 p.m. We will evaluate the funding applications after the application period and make the funding decisions by the end of 2024.
