Hi all,
I am a foreigner (Non-EU citizen), and I have been living in Finland since almost 4 years. I am working as an engineer with a permanent contract which means I have a working visa (Type: “A”). Also, I have Kela card and Finnish identity number.
I would like to begin a new creative project. My project deals with electronic devices and software. I believe that this project is very valuable because it will help people significantly, and I believe that my project plan is quite convincing.
As far as I know, The Finnish law allows foreigner to open a business in Finland. Also, I am aware that there are some official procedures to be followed. All is OK.
How can I request sponsorship for my project?
Could you please provide me any information about organizations/Businessmen/Businesswomen who can support me?
Most importantly, the total budget of the project is about 15000 Euros.
I would greatly appreciate any constructive input!
Project sponsorship ? How? Any Info ?
Re: Project sponsorship ? How? Any Info ?
tekes might help. tekes.fi
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Alternative Sports
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- Joined: Fri Jul 18, 2008 12:33 pm
Re: Project sponsorship ? How? Any Info ?
Hi,
A few years ago I applied for industry-related project financing (EU Funding and Local Funding). The project budget was 2.5M Euro. Also I had patent-related contact with TE-Keskus.
Regarding patent financing support my meeting was with the proper depertment in TE-Keskus.
Regarding the industrial project, my meeting was with Representative for Local Development, also dealing with EU funding, from whom I learned some very important things:
1. Private company must be in place – meaning your own company or other already existing company behind you. Alternatively, you can agree to register private company if the rest goes well… Private persons are not financed (at least that I was told).
2. The project highlights must be documented well and enclosed to application for financing. This application is submitted to proper institution and if they like it, you will receive meeting invitation or other information. Note that very clear profit-making picture must be ready to shine in all its glory – the only thing they are interested in is the whole profit profile – if they like it, and if the project sounds good, then financing could be possible. Keep in mind that if you arrange meeting with some of the larger national institutions for financing, you will be dealing most likely with consulting company that deals with the gov. and all they are interested in is only what will be the profit. It is also very likely that the person/s/ does not have any practical technical experience (diploma/s/ - yes, but nothing practical), so, the only thing they understand is profit and you have to be master in painting the dollar sign… Higher the budget – higher the interest as the consulting companies take (pretty large) percent from the project’s budget… If you have, or if you are represented by consulting company, then the interest disappears as they do not like to share profit… Also, the financing goes to around 50% of the budget and you have to show profit-making before receiving the rest of the funds, unless agreed something else… It is very tricky business…
3. EU financing – in general, the EU Funding is a big Black Hole where the taxpayers’ money disappear… A few years ago there were very good TV documentaries scratching the surface of the enormous deep dark waters of scams… EU is very, very up for financing things that leave no material trace and dissolve quickly – such as concerts, shows as Eurovision (tens of millions for that one), culture and many other tricks and money-burning events which does not leave traces and are perfect for dirty private gains…, for this they throw annually hundreds and hundreds of millions, if not billions. EU also finances building of new museums (going like crazy on this) and many other private projects that are useless to development of the economy… Nevertheless, they also finance high-end science, technologies, energy and of this sort – mostly high-end and large businesses. Individuals with small projects rarely or never register on their screen…
Individuals with good projects have some chance with the local financing (but the above mentioned prerequisites must be in place)… All depends on the project and how well you can sing the dollar song.
Best places to find info are:
- Local TE-Keskus (probably the other name is TEKES),
- Center for development,
- Science center,
- Idea incubators and local institutions of that sort.
Except TE-Keskus, all other institution names vary, so you have to dig carefully in the phone book.
All relatively large cities have TE-Keskus and some technical institute / center for development, but TE-Keskus is good place to start and get advice and directions, also in some cases TE-Keskus provides financing (with royalty 20% or more). Probably TE-Keskus is the most realistic financing source… but ask more questions to get more answers.
When you go to TE-Keskus, in the reception say that you need advice on that and that and they should direct you to proper department.
Hopefully this info can get you somewhere.
A few years ago I applied for industry-related project financing (EU Funding and Local Funding). The project budget was 2.5M Euro. Also I had patent-related contact with TE-Keskus.
Regarding patent financing support my meeting was with the proper depertment in TE-Keskus.
Regarding the industrial project, my meeting was with Representative for Local Development, also dealing with EU funding, from whom I learned some very important things:
1. Private company must be in place – meaning your own company or other already existing company behind you. Alternatively, you can agree to register private company if the rest goes well… Private persons are not financed (at least that I was told).
2. The project highlights must be documented well and enclosed to application for financing. This application is submitted to proper institution and if they like it, you will receive meeting invitation or other information. Note that very clear profit-making picture must be ready to shine in all its glory – the only thing they are interested in is the whole profit profile – if they like it, and if the project sounds good, then financing could be possible. Keep in mind that if you arrange meeting with some of the larger national institutions for financing, you will be dealing most likely with consulting company that deals with the gov. and all they are interested in is only what will be the profit. It is also very likely that the person/s/ does not have any practical technical experience (diploma/s/ - yes, but nothing practical), so, the only thing they understand is profit and you have to be master in painting the dollar sign… Higher the budget – higher the interest as the consulting companies take (pretty large) percent from the project’s budget… If you have, or if you are represented by consulting company, then the interest disappears as they do not like to share profit… Also, the financing goes to around 50% of the budget and you have to show profit-making before receiving the rest of the funds, unless agreed something else… It is very tricky business…
3. EU financing – in general, the EU Funding is a big Black Hole where the taxpayers’ money disappear… A few years ago there were very good TV documentaries scratching the surface of the enormous deep dark waters of scams… EU is very, very up for financing things that leave no material trace and dissolve quickly – such as concerts, shows as Eurovision (tens of millions for that one), culture and many other tricks and money-burning events which does not leave traces and are perfect for dirty private gains…, for this they throw annually hundreds and hundreds of millions, if not billions. EU also finances building of new museums (going like crazy on this) and many other private projects that are useless to development of the economy… Nevertheless, they also finance high-end science, technologies, energy and of this sort – mostly high-end and large businesses. Individuals with small projects rarely or never register on their screen…
Individuals with good projects have some chance with the local financing (but the above mentioned prerequisites must be in place)… All depends on the project and how well you can sing the dollar song.
Best places to find info are:
- Local TE-Keskus (probably the other name is TEKES),
- Center for development,
- Science center,
- Idea incubators and local institutions of that sort.
Except TE-Keskus, all other institution names vary, so you have to dig carefully in the phone book.
All relatively large cities have TE-Keskus and some technical institute / center for development, but TE-Keskus is good place to start and get advice and directions, also in some cases TE-Keskus provides financing (with royalty 20% or more). Probably TE-Keskus is the most realistic financing source… but ask more questions to get more answers.
When you go to TE-Keskus, in the reception say that you need advice on that and that and they should direct you to proper department.
Hopefully this info can get you somewhere.
Re: Project sponsorship ? How? Any Info ?
Before you approach Tekes try he following :
Tuli = business development fund ( I believe is for student but worth trying as they have some exceptions ) the might help with business plan, road map , market study, prototyping .... ( up to 55k in 3 phases :http://www.tuli.info/eng/index.htm ) Condition : no company should be setup
Ely keskus = they have a lot of different stages of funding ( they give 15K as grant for new startup ) Condition company should be setup
Keskintösäätiö = They might help if you have some patent related funding
Tekes = they only fund 70% of the cost of the project , believe should be easy to raise capital for the other 30%
___
A small comment if you dont mind, i guess 15k for a project seems to me a very low cost . Have you consider all aspects = implementation,PR,branding , marketing .........and TAXES
I am in the same process as you with my startup ( Fund raising ) and we know joined a business incubator called Spinno and they provide very good trainings and also how to approach different funding organisations depending on the stage of the company
Am curious to know about your project .....PM me if its okey with you to share
Tuli = business development fund ( I believe is for student but worth trying as they have some exceptions ) the might help with business plan, road map , market study, prototyping .... ( up to 55k in 3 phases :http://www.tuli.info/eng/index.htm ) Condition : no company should be setup
Ely keskus = they have a lot of different stages of funding ( they give 15K as grant for new startup ) Condition company should be setup
Keskintösäätiö = They might help if you have some patent related funding
Tekes = they only fund 70% of the cost of the project , believe should be easy to raise capital for the other 30%
___
A small comment if you dont mind, i guess 15k for a project seems to me a very low cost . Have you consider all aspects = implementation,PR,branding , marketing .........and TAXES
I am in the same process as you with my startup ( Fund raising ) and we know joined a business incubator called Spinno and they provide very good trainings and also how to approach different funding organisations depending on the stage of the company
Am curious to know about your project .....PM me if its okey with you to share
Re: Project sponsorship ? How? Any Info ?
I forgot you should be clear that the vision of your future company is to go Global and you have to have a clear idea how to penetrate other markets.......