"We encourage businesses and research institutions to start projects aimed at bold new initiatives and breakthroughs. With our funding we share the risk of radical renewal, with half of the money from the enterprise and half from Tekes", says Tekes Director General Pekka Soini.
"I see possibilities for good business in the utilisation of digital technology in renewal of traditional industry and health care. As a competitive advantage to other countries we in Finland have plenty of skilful people in the ICT field", Soini says.
"Last year we made a huge investment in the digital field when we launched a programme package worth a total of 300 million euros. The bioeconomy and cleantech are also strong focus areas. We continue to increase our cooperation in these areas with Team Finland players", he says.
"We focus on companies that seek growth in the international market, which have the desire and the ability to succeed. Most of the Finnish growth companies that have been successful internationally have been our customers, which shows how accurate the aim of our funding is", Soini says.
More demand for funding, greater competition
A record number of funding applications, nearly 3,600, came in 2014. This is 20 per cent more than in 2013. This shows that Finland has many courageous companies that want to move forward. Funding applied by companies grew by 10 per cent.
Tekes provided 550 million euros for R&D and innovation projects in companies and research organisations. Of this, 371 million euros was directed into corporate projects, and 63 per cent of this, 235 million euros, for small and medium-sized enterprises.
The positive funding decisions were smaller, but the number grew to nearly three thousand. Increasing demand and tighter funding resources forced Tekes to turn down some projects that were good.
Funding leads to concrete results
Projects concluding in 2014 led to the birth of 1,500 products, services, or processes, 1,130 patents, and 1,090 academic theses.
A fresh analysis on the results of projects that had concluded previously indicates the turnover of Tekes funded SMEs which experienced international growth was 24 per cent higher than for other SMEs in 2010-2013. SMEs funded by Tekes increased their exports by a billion euros.
More detailed figures and information on Tekes funding can be found at the website