Business Finland research project 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 funding TUTLI 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.
The projects that have been supported by Innovation Services have got more than 38 million euros from TUTLI funding for commercialization of Aalto’s research in 2012-2019. Business Finland organizes two TUTLI application rounds annually, in the spring and in the autumn.
Important dates in TUTL round 1/2020
TUTLI info 13.11.2019 at 9:00 – 12:00 Agrid building, Otakaari 5 A, seminar hall Mordor.
Aalto’s internal deadline for submission is on 9 Dec, 2019.
TUTLI workshop will be arranged in December (TBD)
Pitching to the Business Finland board in January 2020 (TBD). The idea will be pitched to Business Finland before the written application.
The application will be submitted via Business Finland online service in March 2020 (TBD).
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