Business Finland is the main public provider for innovation funding, and services for internationalization and travel promotion. Business Finland also attracts foreign investments and venture capital. The organization is a combination of two entities: Innovation Funding Agency Business Finland and Business Finland Ltd. Business Finland is a part of a Team Finland network.
The combined entity of the Business Finland funding agency and the company jointly promote:
- – innovations, new technologies, testbeds and business development;
- – research, development and innovation activities and broad industrial and societal implementation of the
- – internationalization of the Finnish companies and research, export and expertise related to international
- – companies’ ability to develop and utilize innovations, new technologies and emergence of new businesses;
- – research and development supporting industrial renewal;
- – publicprivate co-operation;
- – foreign investments and venture capital to Finland;
- – growth and development of Finnish travel industry;
- – development of earlystage venture capital markets.
In 2017 Innovation Funding Agency Tekes (now Innovation Funding Agency Business Finland) signed funding decisions worth EUR 510 million to 4.485 projects. The majority of the funding was directed to small and medium-sized companies. The funding was divided accordingly: grants 43 %, loans 35 % and research funding 22 %.
EUR 680 million (2018)
600 advisers in 40 locations around the world and in 16 locations in Finland. Headquarters is in Helsinki.