Business Finland Company Funding

Determined to accelerate the international growth of the most promising Finnish startups. The fund is intended for a startup that has been in operation for less than five years. You need a proven business concept and you should already have customers. Business Finland funding can be applied for by companies registered in Finland.
Type Public Funding
Website businessfinland.fi

Investment info

Invests in
Go to market
Growth and expansion
Investment range
€ < 25K
€ 25 - 50K
€ 50 - 100K
€ 100 - 500K
Primary markets
Consumer, Companies, Marketplace
Investing in countries
Finland

Focus areas

Consumer Goods
Consumer Goods
Education
Education
Energy & Greentech
Energy & Greentech
Media & Entertainment
Media & Entertainment
See all 29 focus areas

Investments

ThingLink

Yousician (FI)

G

Ginolis

A

AlphaSence

Key people

MI
Director

Marjo Ilmari

JH
Excecutive Director

Jukka Häyrynen

Invests in SDGs

More about Business Finland Company Funding

Experience

Business Finland is the Finnish Funding Agency for Innovation and this program has startups in mind. They have advisors in Turku, Oulu, Tampere, and Helsinki. As many as 88 companies have received € 1 million.

 

How much do they invest?

YIC divides their investment process into three phases. In the first phase you can get a grant of up to € 250 000. This can be used for sales and marketing for growing internationally and strengthening the team. The second phase can also give you a grant, maximum € 250 000. This is to achieve further international growth and scaling the business. In this phase it is also possible to acquire external funding. In the last phase it is possible to get a loan of up to € 750 000. The general period for grants is 6-12 months.

 

How do they work?

After sending in your application it can take up to a week until you are contacted. In the next round you will introduce your idea to an evaluation panel made up of investors and experts. The panel evaluates the company's business potential, its growth potential and development needs, and its suitability as an investment target. The evaluation is made on the basis of the material provided by the company, and on the basis of a presentation.

 

This makes a difference to them

Business Finland selects the most promising, rapidly growing startup companies to the Young Innovation Company funding program. The companies have typically been in operation for at least three years, and have already used Business Finland funding services. When applying these questions it is important to consider: problem, approach, go to market, describing the business model and possible exits.

These are the basic requirements for prospective companies: 

  • Less than five years old

  • Small and independently administered

  • Strong efforts within innovation activities

  • No distributed profits and not formed through a merger

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