The funding granted by Business Finland was 611 million euros
In 2024, Business Finland granted a total of 611 million euros in funding. Of this, 383 million euros was allocated to companies for research, development, and innovation (RDI) purposes, 177.5 million euros was directed towards research funding, and 50 million euros was earmarked for industry funding.
The export development of Business Finland’s client companies has shown positive growth. Exports from companies that received innovation funding in 2020 continued to rise through to 2024.
"SMEs that have received innovation funding from Business Finland have been able to sustain export growth despite the challenging overall economic situation. It’s important to remember that the results of funded projects often take a few years to become visible," says Lassi Noponen, Director General at Business Finland.
Customer satisfaction is particularly high for international services, with a rating of 4.6 out of 5. According to financial data, companies are especially focusing on the German, Swedish, US, UK, and Norwegian markets.
The largest portion of funding granted in 2024 went to research and development. Notable recipients included VTT Oy (55.6 million euros), Aalto University Foundation (28.9 million euros), and Nokia (22.7 million euros).
R&D funding has had a positive impact on the turnover and employment levels of SMEs and micro-enterprises. SMEs funded by Business Finland have increased their exports by nearly half (45%) and their turnover by a third (31%). The number of jobs has grown by 11,000 by 2024.
"Finland has made an important decision to invest significantly in research and development. Public investments must deliver the greatest possible benefit to Finland. We must make informed choices," says Noponen.
The regions receiving the most innovation funding in 2024 were Uusimaa (289 million euros), Pirkanmaa (64.1 million euros), Northern Ostrobothnia (38.9 million euros), Central Finland (38.4 million euros), and Ostrobothnia (32 million euros).
Further information
Anna Yli-Saunamäki, Communications Manager
anna.yli-saunamaki (at) businessfinland.fi
+358 40 7525 222
