Financing for growth
Public capital investments
Finnvera plc and Finnish Industry Investment Ltd are responsible for providing public venture capital for enterprises at their initial stages. Providers of public venture capital take charge of promoting the development of venture capital markets and making up for shortfalls in private funding. Finnvera invests in funds via Veraventure and makes direct investments via Seed Fund Vera Ltd. Finnish Industry Investment Ltd’s capital investments mainly comprise fund investments.
In addition to investments by the state, the capital investment sector can be activated through financial incentives targeted at private investors. In line with the Government programme, the possibility of introducing tax incentives for private investors will be investigated. Moreover, an asymmetric fund model will be examined to attract private funding. Based on this model, as an investor the state would accept lower returns than private investors.
Tekes funding for young innovative companies
Tekes offers young and innovative companies special funding, enabling them to develop their businesses on a holistic basis. The fundamental aim of this is to accelerate the growth and internationalisation of the most promising enterprises. Funding for young innovative companies is granted gradually, as the enterprise achieves interim development targets set in advance.
Vigo accelerator programme for start-up companies
The Vigo programme provides top notch accelerator services and expertise for seed-stage enterprises, enabling the development and growth of their business and their entry into international markets. Accelerators invest capital and expertise in developing chosen seed enterprises to the stage at which they are fit for investment by venture capitalists. Funding for target companies is based on both private and public financing. Sources of private financing include capital investors, business angels, funds and accelerators. Public funding for the companies being accelerated is based on Tekes and Finnvera financial instruments.