Funding pot growing to almost a billion euros – Business Finland seeks growth from clean transition

Finland will grow in the coming years, especially through intangible value creation. This is the line taken by Business Finlandia's new strategy for 2026–2030.

"Finland aims for increased productivity, business renewal and well-being. To support this goal, we want to increase the intensity of research and development activities to four percent of GDP," says Business Finland's Virpi Mikkonen.

Batteries, hydrogen and biomaterials

Business Finland sees the greatest growth potential in four thematic areas: digital leadership, security, clean transition and good life.

For example, critical raw materials and minerals are related to security, while biomaterials and biochemicals are related to a good life.

The clean transition concerns the hydrogen economy, modular reactors, battery value chains, renewable energy, and mobile machinery.

"We do not fund small, iterative improvements, but rather want to create world-class conditions for renewing national strengths and creating new growth areas," says Mikkonen.

He spoke about Business Finland's new principles for financing at the KIRA climate results seminar on low-carbon construction on January 29.

New to replace the old

According to the strategy, as a small country, Finland must make choices in order to achieve impact with limited resources.

At the end of last year, Business Finland closed some of its financing services, such as Exhibition Explorer financing for small and medium-sized enterprises.

The retiring Tempo funding will be replaced by a new Sprint funding program aimed at small businesses in early winter.

Business Finland's total funding pool this year is approximately 790 million euros.

“Our funding mandates are growing to almost a billion euros by 2030,” Mikkonen says.

Locomotives have a lever arm

Business Finland wants to strengthen the formation of billion-dollar ecosystems and business cooperation.

Partnership funding from leading companies that support co-development will continue. Locomotive business model has proven fruitful.

A driver company is a company that operates globally or aims to do so, that is able to make significant research and development additions in Finland and act as a driver of an entire ecosystem.

"There have already been 32 pioneer companies over time. In total, they have promised to increase their own research and development investments by approximately three billion euros over five years. In addition, they have inspired over a thousand R&D projects."

A five-year project is currently underway in the real estate and construction sector. Renaissance program, led by Kone. The goal is to renew the building stock for low-emission living and working by 2030.

Waste management and recycling related, led by Valmet as a leading company Beyond Circularity Program has just ended. Over 370 partners participated in the program, which launched in 2022. The program aimed to promote sustainability and support customer industries in achieving carbon neutrality and a green transition.

The Co-Research partnership funding application for research organizations is open until the end of March 2026.

Co-Innovation funding and Research, Development and Piloting funding can be applied for continuously.

Text: Elina Saarinen, Uusiouutiset

Photo: Elina Saarinen. Virpi Mikkonen from Business Finland spoke about financing opportunities for companies at the KIRA Climate results seminar in January 2026.