Finland’s official government agency for trade and investment promotion, innovation funding, travel promotion and talent attraction, Business Finland, has reported strong interest in its Generative AI Proof-of-Concept (PoC) funding call, which ran. 

The initiative was designed to support small and medium-sized enterprises (SMEs) and mid-cap companies in exploring how generative AI could reshape their products, services, and business models to gain a competitive edge globally.

 According to Timo Sorsa, Head of Generative AI at Business Finland, the response has been both substantial and varied.

“Not only were application numbers high, but we’re also thrilled to see such a wide range of sectors represented. From healthcare and education to luxury yachts and gaming, companies are applying generative AI to address real-world challenges and unlock new opportunities,” he says in his blog post.

During the funding call, Business Finland received more than 200 research and development funding applications, which have already resulted in the launch of 130 R&D projects. Sorsa noted that this diversity reflects the broad applicability of the technology and ensures a more widespread impact across the Finnish economy. 

Submitted for funding typically ranged between €100,000 and €200,000, with SMEs eligible for up to 50% in subsidies. In cases involving purely industrial research, the cover up to could be  60% of eligible costs.