Tekes the Finnish Funding Agency for Technology and Innovation
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Innovation - more than technology Tekes - what do we do and why Finland - committed to invest in R&D Facts - and figures
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What is innovation? Knowledge and competence used in a manner that is new in economy or society technology – society environment – business user – design
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Innovation - more than technology Tekes - what do we do and why Finland - committed to invest in R&D Facts - and figures
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Expertise and networks for innovations Tekes services • Funding for innovative R&D and business • Networking Finnish and global companies and researchers • Tekes is non-profit and takes no equity or ownership on intellectual property.
Customers • Finnish and international companies located in Finland • Universities, research institutes, hospitals etc.
Resources • Budget: 600 million euros annually • Personnel: 360 in Finland and abroad • Public agency under the Ministry of Employment and the Economy
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Tekes aims to build a strong networked knowledge base renew the economy and create new businesses increase productivity in industries and service sector enhance wellbeing in society and improve environmental sustainability
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How do we work? Tekes encourages companies to do challenging R&D • Funding for the creation of new know-how and development of products, processes and service or business concepts • We accept more risks than private financiers
Tekes facilitates collaboration and networking • between small and large businesses • industry and the academia • public and private organisations • globally – nationally – regionally
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Key principles: confidentiality and dialogue Continuous dialogue with both industry and academia • to plan Tekes programmes • to define future strategies
Confidentiality • applications are evaluated in-house • companies may submit applications anytime
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Strategy in a nutshell Growth and wellbeing from renewal • Priority to growth-seeking, innovative SME’s • Increased focus on forerunners and strategic innovations • Customer success in global value networks • Services and non-technical contents equally important as industry and technologies • Tekes will be a more essential part of the innovation services cooperation network • More customer-oriented and flexible approach
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Focus areas
Business in global value networks
Added value by solution-based services and intangible concepts
Renewing services and production by digital means
Natural resources and sustainable economy
Intelligent environments
Vitality of people
Strategic research areas determined by the Strategic Centres for Science, Technology and Innovation
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Tekes R&D funding in 2010 Total 633 million euros and 1,896 projects
R&D grants to companies and public organisations 186 million euros Research funding for universities, research institutes and polytechnics 193 million euros
R&D loans to companies 155 million euros
The funding for R&D includes 29 million euros from EU Structural Funds. Research programmes of the Strategic Centres for Science, Technology and Innovation (SHOK) are joint programmes for research organisations and companies. DM 756052 and 607668 01-2011
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Half of the funded projects are internationally networked
International activities in projects funded by Tekes in 2006 - 2008
Any international company located in Finland is eligible for Tekes's funding, regardless of ownership.
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FIMECC: Innovations and Network Ship and Ship Production Development 2009‐2013
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WP1 ‐Platform management
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WP4 ‐Production development
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WP2 ‐Platform solutions
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WP8 ‐Design Drive
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WP3 ‐Visualization
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WP10 ‐Sea Green Copyright © Tekes
Forms of state aid to shipyard and shipping company activities Innovation aid to the shipbuilding industry From the beginning of 2004, the European Union has facilitated the national introduction of socalled innovation aid to shipbuilding. On 28 May 2008, the European Commission approved the launching of an innovation aid programme in Finland. Pursuant to this decision, Finland may grant a yearly maximum of Eur 20 million of innovation aid to ships ordered in 2008-2011, or a total of not exceeding Eur 80 million. The aid programme will be valid until 31 December 2011. Under the relevant Decree, companies registered in Finland engaged in shipbuilding, ship repairs and ship conversions are eligible for innovation aid to shipbuilding. It can also be granted for the development and design of a new vessel type, innovative vessel components that can be regarded as separate parts of the vessel, and the development and implementation of innovative production, planning and logistics methods. Projects eligible for this aid must be implemented in Finland. Other preconditions include the beneficiary’s capacity for continuous profitable operation, and that project implementation can be expected before the end of 2015. The aid may not exceed 20% of eligible costs referred to in the Decree, or Eur 150 per CGT. Applications for aid should be addressed to Southwest Finland ELY Centre prior to concluding a binding shipbuilding contract or implementing an innovative technique
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Subsidised funding for shipyard and shipping company activities
Through its export guarantee products and in cooperation with banks, Finnvera Plc plays a major role in the construction period funding of shipyards. In addition, Finnvera Plc and Finnish Export Credit Ltd provide post-delivery financing of vessels through funding arrangements on so-called OECD rates, including export guarantees, interest equalisation and the re-financing model introduced at the time of the financial crisis in 2009-2010. An export guarantee is usually granted in form of a so-called buyer credit guarantee, which is a security to the lender against a credit risk caused by a foreign buyer, the buyer’s bank or the buyer’s country. This means that the exporter receives payment in cash and that the credit risk is transferred to the lender. Under the sectoral agreement on shipbuilding, the back payment period of a credit received with an export guarantee may not exceed 12 years from delivery, and additionally, a minimum cash payment of 20% is expected. The coverage usually is 50-80% (exceptionally as much as 95%). In the interest equalisation system administrated by Finnish Export Credit Ltd, a financial institution provides its customer, a buyer or an exporter of Finnish products or services, credit on OECD rates. Finnish Export Credit Ltd then concludes an interest equalisation agreement with the lender in question. Based on this agreement, Finnish Export Credit Ltd covers interest risks arising from the difference between the fixed CIRR interest and the floating interest, as it receives a fixed CIRR interest from the financial institution while paying a market-based interest that typically changes every six months. DM 369407 03-2008
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Keep in touch!
Information about Finnish innovation environment, Tekes's activities interesting publications and research and development projects
www.tekes.fi/en Subscribe to Tekes Newsletter at
www.tekes.fi/en/newsletter
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