It’s time for research organizations to prove themselves – looking for the best initiatives for future growth sectors

On 13 January 2025, Business Finland will launch a new type of Rise to Challenge funding call to find the most impactful research initiatives to fund. What research ideas would revolutionize future markets? The intention is that research organizations will carry out projects to radically increase their knowledge base, which companies can then utilize to gradually increase their capabilities. The theme of the first pilot call is digital solutions that promote security.

“The new Rise to Challenge funding concept meets Finland's need to connect expertise arising from research with the renewal of the business sector. We aim to generate capabilities as a foundation for new business. Crucially, in addition to generating new knowledge, the funded research projects will build commercialization routes so that companies can utilize the knowledge,” says Business Finland´s Director General Lassi Noponen.

The new Rise to Challenge funding concept meets Finland's need to connect expertise arising from research with the renewal of the business sector. We aim to generate capabilities as a foundation for new business.

Funding in phases, companies to be involved only later

The funded research projects can last five years. The funding will be provided in phases.

During the first two-year phase, we will fund projects with identified productivity benefits and/or international commercial potential that cannot yet be accurately assessed. The first phase does not require involvement from companies, but applicants are expected to describe the mission of their research activities.

The second phase also requires the participation of the parties that will utilize the results – e.g., companies. The transition to the second phase can take place after the goals of the first phase have been achieved.

Both phases can be implemented in collaboration between research organizations.

The pilot call aims to launch approximately five projects, and a total of EUR 10 million in research funding will be allocated to them. The funding level is 80 %, and the maximum amount granted for the first phase of a single project is EUR 2 million. The follow-up funding for the second phase is EUR 3–5 million per project.

Rise to Challenge funding calls under different themes are on the way, the theme of the pilot call is digital solutions

“Our chosen theme for the pilot search is digital solutions that promote security and business continuity for the needs of critical infrastructure, society, and business. We are already preparing to launch calls under other themes in 2025,” says Senior Director Arto Pussinen from Business Finland.

Sub-themes of the pilot call, which the research projects can also combine, include:

1. Solutions concerning development methods, interoperability, production environments, operating methods, and scaling that will significantly enhance digital resilience
2. System-level resilience, such as the security, integrity, flexibility, and resilience of digital supply chains
3. Research related to disruptive technologies (e.g., AI, sensor fusion, quantum technology), which can be used to develop, among other things, more proactive and intelligent solutions, including new kinds of situational awareness systems
4. New telecommunications network solutions that significantly improve the resilience of society’s critical infrastructure

Info session on January 21, 2025, the call will close on March 31, 2025

The notice for the Rise to Challenge funding call will be published on Business Finland’s website on January 13, 2025.

The funding call will close on March 31, 2025.

An info session will be held on January 21, 2025 (event to be held in Finnish): Registration. More information about the event will be published on Business Finland’s website later.

Further information

Karin Wikman and Virpi Mikkonen

email format: firstname.lastname (at) businessfinland.fi