We are keen to facilitate collaboration between SMEs in the Republic of Korea, Finland and Sweden, but there is no specific budget dedicated to this. The funding comes from the respective national budgets for Eurostars. Full proposals submitted will compete against any other proposal submitted within the Eurostars programme.
The Republic of Korea, Finland ans Sweden will fund its eligible participants within the Eurostars framework. The funding conditions and eligibility criteria are those each country has declared for Eurostars projects. Here are the main aspects of the funding criteria:
The Republic of Korea
Every consortium should include at least 1 SME or Mid-tier company which has been in operation more than 1 year and received corporate R&D center accreditation by the government.
Project funding is comprised of government contributions and civilian dues (cash and in-kind). The amount of government contributions will vary depending on the type of executing organizations and project in accordance with Article 24 (Funding criteria) and Article 25 (Civilian dues) of the Common Operational Regulations for the Industrial Technology Innovation Programs. (see: www.k-pass.kr)
A party that participates in a project shall carry out its project using the government contributions allocated to it, and for-profit organizations shall individual bear the cash portion of civilian dues.
||Share of government contributions
in executing organization’s project budget
|Share of cash in executing
organization’s civilian dues
||33% or less
||60 or more
||50% or less
||50 or more
||67% or less
||40 or more
||100% or less
||To be borne if necessary
Business Finland encourages Finnish SMEs and Midcap companies to internationalisation and growth. This is the driver for Business Finland's participation in Eurostars. Finnish participants have to contribute to that goal directly or indirectly in order to be eligible partners. For Finnish partners in Eurostars this national rule of funding only growth companies is applied.
The Finnish participant organisation will have to justify its financial situation and strategic position with adequate documents. Before contract the organisation will have to give a project plan describing its own work as part of the Eurostars project, to be attached to the contract.
|Type of organisation
||Funding % of eligible costs
||Maximum Financial Support (in €)
|R&D performing SME
|R&D performing Midcap enterprise
||Midcap = large company
with less th an 300 M€ turnover.
|Other R&D performing organisation
|University or Research institute
||60.000€ - 120.000€
||120.000€ max is applied when 2 Finnish
R&D performing SMEs participate,
60.000€ max if 1 or none.
- SME 50%
- LARGE COMPANY 30%
- UNIVERSITIES 70%
- RESEARCH ORGANISATION 70%
Maximum joint funding to all Swedish partners in a project is SEK 5,000,000 if a Swedish SME participates and SEK 2,000,000 if no Swedish SME participates.
A participating SME has to verify that their financial situation, in terms of equity or annual turnover, is equal to at least half of the requested project funding.
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