Business Partnership Support can now be used to develop existing business

Finnpartnership’s financial grant, Business Partnership Support can also be applied in the ongoing progarmme period for development of existing business operations in the target country. Following the update, a new project phase ‘develop existing business operations in the target country’ has been added to Business Partnership Support.  

Key information related to the new project phase:

• The condition for granting support is a registration certificate for a company established in the project country or a cooperation agreement (e.g. subcontracting agreement) concluded with a developing country partner.
• The financial grant can be applied either in the name of a company established in the target country (if it has at least 20% Finnish ownership), or in the name of a Finnish parent company (if the parent company is the direct economic beneficiary of the project).
  • The funding is granted for project costs incurred by the applicant itself. This means that the grant cannot be used to cover the costs of a business partner, for example.

• Financial grant can be applied even if company has not used Business Partnership Support in the previous phases of the project.

• If the project has previously benefited from Business Partnership Support, it will count towards the maximum project-specific quota (EUR 200 000 for de minimis projects / EUR 400 000 for non de minimis projects)

• The studies, piloting of technology and solutions, and demonstrations and personnel training that are supported via Business Partnership Support during the project phase must be related to one of the following:
  • a. expansion of a product portfolio
  • b. finding new suppliers
  • c. finding subcontracting and similar partners
  • d. development of activities so they are easier to scale
  • e. determining investment needs and their funding
  • f. improvement/development of working conditions
  • g. development activities so they are more responsible

Thus, Business Partnership Support cannot be used for investment, product development or recruitment, for example. Read more on the conditions of Business Partnership Support.