27.02.2025
Business Finland funding in 2024, Northern Ostrobothnia third largest funding 38.9 M€
-
Overall, funding was requested 875 million euros
- Applications accepted 58 % (4947 applications, of which 2872 were accepted)
- Funding was provided 610 million EUR 3318 funded projects for 2413 companies
- The average amount of support for the funded project was 183 k€
The most important funding programme for Business Finland was: RDI (research, development and innovation), to which was directed 383 million EUR. The rest of the funding was directed to research organisations and business funding.
In 2024, the RDI funding granted by Business Finland was divided into the following types of companies:
StartupIn 2024, 29 companies received: % BF's RDI funding. A total of EUR 112 million was granted. Start-ups use early-stage funding to develop their innovations and business models, especially in the technology sector and digitalisation.
There are also 29 small businesses. % Out of BF's RDI funding, a total of EUR 111 million:
The funding will enable SMEs to develop innovation and strengthen their competitiveness in international markets. Support for SMEs is focused on growth-oriented companies aiming at exports and global markets.
The company received 42 % RDI funding, totalling EUR 160 million. Large companies use funding especially for large-scale research and development projects that promote long-term competitiveness and sustainable growth. For large companies, funding has often been concentrated on supporting large, globally operating innovation projects.
Breakdown of funding by region:
In 2024, the total funding granted by Business Finland was divided into the following regions:
- Uusimaa: EUR 273.9 million
- Pirkanmaa: EUR 60.5 million
- Northern Ostrobothnia: EUR 38.9 million
- Central Finland: EUR 38.2 million
-
Ostrobothnia: EUR 32 million
The fifth research organisation is the University of Oulu 16 694 359€
Countries targeted by internationalisation and the impact of funding:
Companies funded by Business Finland aim to internationalise in 2024 primarily to the following countries
- Germany (711 projects)
- Sweden (512)
- United States of America (397)
- France (253)
- Norway (230)
- United Kingdom (220)
- Denmark (217)
- Netherlands (142)
- Spain (89)
- Italy (81)
The German market has been particularly important for companies active in the industrial and technological sectors. Sweden, on the other hand, is an important international destination for digital and cleantech solutions. The United States has been a key market, especially for start-ups and the technology sector.
Growing target countries for internationalisation:
Between 2020 and 2024, the areas of internationalisation of Business Finland-funded projects grew most in percentage terms to the following countries:
- France +377 % (53 → 253 projects)
- Belgium +338 % (13 → 57)
- Italy +268 % (22 → 81)
- Lithuania +230 % (10 → 33)
- Austria +200 % (14 → 42)
- Poland +200 % (18 → 54)
- Spain +178 % (32 → 89)
- United Arab Emirates +169 % (13 → 35)
- Saudi Arabia +168 % (6 → 16)
-
Netherlands +141 % (59 → 142)
