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Develop the competence, products or services of your SME or Midcap company through R&D funding

Using Business Finland's R&D funding, companies seeking international markets can update their products, services, production methods or business models, or develop completely new ones. R&D funding is only provided for costs arising from research and development activities.

Funding for research, development of piloting

Business Finland can provide funding for SMEs and midcap companies seeking significant growth in export markets by granting aid or a loan for ambitious R&D projects that give companies a competitive edge. If successful, a project's export potential must be at least 20 times higher than the R&D investments made. Funding from Business Finland is discretionary and competed for.

What is required of your company?
  • Your company is an SME (fewer than 250 employees, turnover up to EUR 50 million or a balance sheet total of up to EUR 43 million) or a midcap company (consolidated turnover up to EUR 300 million), which is truly seeking significant international growth.
  • Your company is developing new innovative products or services, production methods or business models that gain a competitive edge in international markets.
  • Your company aims to create new competence that gives it a competitive edge in international markets.


Grant can be granted for critical research activities that aim at least to acquire new information in the relevant sector and create capabilities for later development, but that do not yet result in a finished product or service. The grant for SMEs' research projects accounts for at most 50% of total eligible project costs. For midcap companies, grant covers at most 40% of total eligible project costs. We pay aid afterwards based on your reported realized costs.


A loan is intended for your company's development and piloting projects. As a rule, it can cover at most 50% of your project's total costs. For a justified reason, the loan can account for up to 70% of total project costs. Your company can receive 30% of the loan funding granted for your project as an advance loan at the beginning of your project, and we will pay the remaining loan amount based on realized costs. The loan has a low interest rate (1% at present), and no collateral is primarily required. As a rule, the loan period is seven or ten years, of which three or five – or more, if necessary – are installment-free. If your project fails or its results cannot be used in your business operations, part of the loan may remain uncollected.

What can be funded?

A project may include both research and development. In this case, Business Finland will assess the project content as a whole, considering the different nature of the activities.

Even if a project has appropriate total funding, resources and plans, the granting of funding also requires that the project could not be carried out at all without any funding, or it could be carried out much more slowly or on a smaller scale.

See instructions for applying for funding

How does Business Finland funding work?

Before you apply

Plan a project and define its goals. Ensure the sufficiency of self-financing.

Apply for funding

Submit your application through online services. Submit the additional information requested.

Approve the funding decision

Business Finland will assess your application and notify you of its decision. Read the decision and its terms and conditions, and approve the decision in online services.

Use the funding

Arrange project accounting. Notify Business Finland of any changes.

Report your project

Report your project's implementation and costs. Attach the additional information requested with your report.