Business Finland receives €14m in creative industries R&D funding applications

• More micro and small companies received funding compared with the previous call.
• AI and machine learning featured prominently in applications.
• Business Finland plans another €9m creative industries funding call this year.

Business Finland received 71 applications worth more than €14 million ($16m) in its second funding call for research and development projects in Finland’s creative industries.

The funding follows a state budget decision to establish permanent R&D funding of €9m ($10.3m) for the creative industries. Applicants represented several sectors, including games, audiovisual, literary industries, architecture and communications.

Gaming companies and research organisations working on joint projects with companies submitted the largest applications by funding value. 

Many applicants were also small and startup companies, including businesses planning their first R&D project.

AI drives applications

Business Finland said the distribution of applicants was similar to last year’s call, while slightly more micro and small companies received funding in this round.

Applications showed growing interest in artificial intelligence and machine learning across creative industries, with uses identified in areas including film and events. Funding also focused on intangible value creation and immersive technologies.

“The applicants and the allocation of funding were very similar to last year's call," said director of the consumer and creative industries unit Ella Kylmäaho. “It was pleasing that we were able to fund slightly more micro and small companies in this round. 

“This could indicate the growth of small companies' expertise and ambition in the field of research and development. 

“It was also great to see a joint project of four companies being funded, where they can utilise each other's expertise and networks and build a stronger foundation when entering international markets."

Business Finland plans to open another creative industries funding call this year, with €9m in funding available. The schedule has not yet been finalised, but you can learn more from the official website.