Business Finland has a funding call open for innovative solutions in the health and wellbeing sector that develop digital solutions, technologies, and operating procedures in the field of healthcare. Tentatively, a total of EUR 4 million of funding will be granted in 2022 and 2023. Submit application by Jan 31, 2022, for funding granted in 2022.
The call is aimed at companies seeking international growth and, in joint projects, at research organizations supporting their development. Business Finland is funding new creative research through aid. Projects must be completed by December 31, 2025.
Funding is provided to companies seeking international growth
Funding is available for companies registered in Finland. Companies must be willing to grow and internationalize and have sufficient financial resources for growth and internationalization, as well as diverse expertise and a team.
In addition, projects are required to have a competitive advantage in the international market. A research organization can also apply for funding as part of a Co-innovation project. Project parties do not have to come from the welfare and health sectors, but the results should contribute to the measures of the health sector’s growth strategy that strengthen the health sector’s ecosystems and exports.
The scope is innovative digital solutions, technologies and practices for healthcare
Projects funded through aid should create new competence and information for companies and partnership networks, take greater risks than normal and, if successful, involve a high market potential. Funded projects also often require more development afterward to commercialize the results. Projects funded with this call may relate to:
- digital solutions in health security
- monitoring solutions for people’s wellbeing
- digital support services for wellbeing
- technology-assisted living solutions for the elderly
- a new kind of use of data, and such advanced technologies as AI, and the extensive application of advanced technologies in the health and wellbeing sector
- other promotion of the goals of the new roadmap 2020–2023 of the health sector’s growth strategy
Primarily, the main application criteria are the innovativeness of projects, the promotion of digitalization, impact on the renewal of the company, targeted international turnover, competence, the ability to implement the project, and the project plan.
Business Finland aid covers up to 50% of SMEs’, 40% of large and midcap companies’, and 70% of research organizations’ total project costs.
”Do No Significant Harm” principle
In addition to Business Finland’s funding criteria, a project funded by Finland’s Sustainable Growth Programme must meet the so-called “Do No Significant Harm” requirements. The EU’s Recovery and Resilience Facility (RRF) requires that no measures cause significant harm to the environment.
This funding call implements Finland’s Sustainable Growth Program, which is part of the EU’s Recovery and Resilience Facility (RRF).