Leverage from leading companies
Business Finland challenges global companies to lead ecosystems that consist of companies of different sizes and other players.
What is a challenge competition?
The deadline for the first phase of the challenge competition expired on September 5, 2024. Participants in the competition will be informed of the results of the first phase by October 4, 2024. Funding decisions for new leading and challenger companies will be made in early 2025.
Business Finland has launched challenge competitions in which companies with international operations agreed to resolve significant future challenges and increase their research, development and innovation investments in Finland. If successful, these projects will lead to additional investments of several billion euros in Finland. The proposed projects were to solve significant future challenges and have a remarkable impact on the RDI (Research, Development and Innovation) target of 4% and the employment target of 75% laid down in the Government Programme.
The winning companies have committed to increasing their RDI investments in Finland cumulatively by almost 1.5 billion euro in total. In addition, the leading companies were to boost RDI cooperation with research organisations and SMEs.
Business Finland's funding has been a maximum of 20 million euro for the leading company and 50 million euro for the ecosystem assembled by the leading company.
In 2022, so-called challenger companies could also participate in the challenge competition for the first time. Challenger companies strengthen the global role of an international business group through Finland or aim to grow into a global player, are solving a smaller or more focused challenge or develop new business. The funding of Business Finland could have been be up to 10 million euro for a challenger company and up to 20 million euro for an ecosystem assembled by a challenger company.
Please, find below the list of companies that won the challenge competitions.
Read the 2024 call instructions (pdf)
9.4.2024 info webinar presentation (pdf)
The leading companies offer cooperation opportunities. Funding for joint projects can be applied from Business Finland. Check out the possibilities of partnership model funding below.
Partnership model funding
Business Finland offers partnership funding for research, development, and innovation projects in leading companies' ecosystem themes.
Funding is intended in particular for joint projects between companies and joint projects between companies and research organizations (Co-Innovation funding). Funding can also be granted to individual companies (research, development and pilot funding) or research organizations or joint projects of research organizations (Co-Research funding).
Co-Innovation and Research, development and pilot funding can be applied for continuously.
Read more about Co-Innovation and Research, development and pilot funding
In 2025, the 1st application round of Co-Research funding ends on 31 March 2025. The schedule of a possible second application round will be announced separately.
Read more about Co-Research funding
#SustainableGrowth
Leading companies and roadmaps
Ended projects of leading companies
Leading companies´ events
Contact us
Chief Funding Advisor
Marita Virtanen
marita.virtanen (at) businessfinland.fi
+358 50 5577 662