Planning for international growth

09-2013DM 1180768

Tekes funding for start-ups

50% - 70 % loan35% - 50 % grant

R&D&I Funding

• Product, service and business model development

75% grantmax. 1 Mۥ in tranches with milestones

Funding for Young

Innovative Growth

Companies (YIC)

• For the most promising startups

• International business development

GO / NO GO

75% grant• max. 100 k€ • in 2 tranches

Planning for growth and

going international

• Product/Market fit

• Customer insight

• Proof-of-Demand

• Team capabilities

GO / NO GO

09-2013DM 1180768

Validate your markets

The funding is targeted for companies planning on going to international markets. The company has to be small, not more than six years old.

The assesment of the growth potential, customer need and the team are the most important factors in the funded projects.

Funding is meant for companies that are still developing their product or service.

A company can get funding a maximum of 100 000 euros in two stages. If the company is no more than six years old, Tekes funds up to 75 % of the project cost.

09-2013DM 1180768

Funding for startups Funding

• De minimis grant can be up to 75 % of the project’s total cost

• A company can get funding a maximum of 100 000 euros in two stages First stage of funding can

be up to 50 000 euros. If needed, the applying company can get funding for second stage.

For example, the first stage of funding can be 30 000 euros and the second 70 000 euros.

If the costs of the project include more than 50 % of R&D work, Tekes can fund up to 50 % of the costs.

Budget• Eligible salary for

entrepreneurs can be no more than 3000 euros. People who own more than 10 % of the company are considered as entrepreneurs. A hired worker can have a bigger salary.

• In the budget indirect personal cost be no more than 50 %.

• The project costs must be kept as low as possible

Procurement• If the procurement costs

exceed 30 000 euros, the procurement may have to be put to tender according to the Finnish public procurement act.

Stages and goals• The funded projects

should have measurable goals.

• If the goals are met and there is a need for continuation of the project, a company can apply for the second stage.

03-2013DM 1180768

What can a project include?

Market survey• Product’s potential markets and market segments

• Potential clients

• Contacts with clients

Demand• Product-market-fit

• Proof-of-demand

Team• The team has to evaluate its abilities and needs to grow internationally.

• Recruiting necessary skills experts to the staff and the board.

• Making sure that the companies network is ready for international growth.

The project can also include• Preparation of business plan, r&d for market validation, planning of

external funding, IPR issues.

09-2013DM 1180768

How to apply

Fill the application at Tekes’ web site. A project plan is recommended. After the project, company must have a plan for

business development and commercialisation its product with clear picture of its markets

The company must have an understanging of market demand based on test marketing and market surveys.

The company must report status of the team after the self-assessment and have a recuitment plan to develop the team and the board.

09-2013DM 1180768