Funding tip: Funding for Deep Tech Startups

Business Finland has launched a new funding call for deep tech startups, with a deadline for applications of 31 March 2023.

DEEP TECH ACCELERATOR – PILOT FUNDING CALL

Application period: 1.2.-31.3.2023

For whom?
Deep Tech Accelerator funding is intended for startups that are less than five years old but already operating, which have been founded to commercialize the latest research results and know-how. It is aimed for the launch and development of a deep tech startup for international business.

What does the funding package consist of?

The funding package consists of two phases:

1.      EUR 400,000 grant, estimated to last 12-18 months

2.      EUR 1,000,000 loan, estimated to last up to 24 months

Business Finland’s contribution covers 75% of the total budget.

In this funding call, the company only applies for funding for the first phase, which has an estimated cost of EUR 533,334. In the project plan included in the application, the company must also provide a preliminary description of the content and goals of the second phase, which indicates that the company is seriously planning the implementation of the entire project.

What can the funding be used for?

• Contacting customers and verifying the suitability of the solution with customers, customer negotiations, acquisition of pilot projects, taking measures to obtain references

• Determining/finding the optimal application of the technology and validating the solution with customers

• Finding the right customer segment and business focus, developing the business, operational sales, and marketing

• Strengthening the team with sales, marketing, and business experts, for example

• Ensuring the marketability of the solution

• Planning and acquisition of additional private financing

Read more about the call here

ALSO REMEMBER:

Battery Industry Funding Call 2023
The call aims to strengthen Finland's position as the hotspot for sustainable and responsible battery value chain investments and to increase business operations and employment in Finland and internationally. Deadline for the applications is March 31, 2023.

Read more about the call here

If you would like to discuss about financing for your company or portfolio company, please feel free to contact our experts. You can find our team's contact details here.

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