Business Finland - Research to Business
Business Finland commercialization funding
Business Finland can fund research projects, where scientists take the development of an idea further while preparing for the commercialization of the idea into new business. Business Finland funding can be applied by Finnish research organizations. According to the Business Finland policy the applications must first be handled by the commercialization unit of the university. Innovation Services is responsible of the application process in Aalto University.
Unlike other Business Finland R2B funding requires significant contribution in preparing the commercialization. According to Business Finland official instructions the commercialization must be at least 40 % of all costs in the project. However in practice this means that if the project team doesn’t have genuine interest to create new business (startup) from the research results or license the technology to existing company Business Finland won’t fund the application.
Business Finland requires that the applicants have made significant actions to prove that the project is on sustainable base from the commercial point of view. Innovation Advisors helps to draft these actions and project plan.
Aalto Innovation Services track record on Business Finland’s R2B funding in 2012-2022:
More than 100 R2B projects
Over 61 M€ funding in total
Average funding > 0,5 M€ / project
Application success > 50 %
50+ startups and spin-offs created
500+ M€ total investment money
The R2B or Research to Business, pre-incubator program, is open all year-round to Aalto University origin innovations and inventions based on research. The projects are especially at an idea phase and have a focus on technological research. Once these projects incorporate, Aalto Startup Center can offer its Business Generator, accelerator program.
Research to Business funding is intended for public research organizations for projects in which research groups and researchers aim to develop their research into new business and to commercialize their research results.
Aalto Innovation Services organizes an info event for Business Finland Research to Business (R2B) call on May 24th, 2023.