Terms and conditions of Business Partnership Support will be updated from 1st of January 2024
The updated terms and conditions of Business Partnership Support will enter into force on 1st of January 2024. The update concerns the support percentages and permitting piloting in the project phase 7: development of existing business in the target country.
From the beginning of 2024, the support percentage for least developed countries and fragile states will be reduced from 85% to 75% for SMEs and 50% for large companies. At the same time, the support percentage for SMEs in lower middle-income countries will be increased to 75%.
Ukraine will remain the only country in the 85% support category.
In addition, piloting will also be added to the eligible activities under the project phase 7: development of existing business in the target country. Technology and solution piloting and demonstrations should be related to: a. expanding the product portfolio, c. finding subcontracting or similar partners, d. developing activities for easier scalability and/or e. determining investment needs and their financing.
Supporting the piloting of technologies and solutions will enable the application of Finnish know-how to the needs of developing countries. Business Partnership Support lowers the threshold for Finnish companies to take this risk. The change in the terms and conditions will also make piloting and demonstration of technologies and solutions eligible activities for Finnish companies already established in the target country.
The updated terms and conditions will be published on Finnpartnership’s website on 2nd of January 2024.
Finnpartnership supports commercially sustainable and responsible business activities that create positive development impacts in developing countries
Finnpartnership provides financial grant for early stages of business, business advice and contacts to help get sustainable business in developing countries off the ground. Business Partnership Support is intended to provide seed money for commercially financed business activities that will have a positive development impact in the target country. The financial grant is available for business partnership projects between Finnish companies and other actors.
Support is available for activities such as finding a partner, planning business activities, and training employees. It can also be used to strengthen an existing business or for follow-up projects and piloting.
Finnpartnership’s services are free of charge and are available to businesses, NGOs, educational institutions, and other actors. Business Partnership Support can be applied for all year round.
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