planning for international growth
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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
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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.
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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.
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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.
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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