Leverage from the EU for expertise and innovations

Finland is one of the world’s most competitive countries. It is important for the whole country’s well-being that Finnish expertise succeeds and develops continually in intensifying competition, also in the future. High levels of expertise, new innovations and continuous development play key roles in keeping Finland vigorous. Strengthening expertise and support for innovations are also some of the focuses of the European Union’s fund programmes. This brochure describes how the EU supports the challenges associated with the development of expertise and innovations.

Supplementary funding is granted from the European Union’s Structural Funds for activities that improve Finnish expertise, employment and competitiveness. The objective is also to develop equal opportunities for people and regions. The aim is to ensure that Finland is a country with employment, skilled people, and a favourable atmosphere for new ideas and successful companies as well as a good environment in which to make a home, to live and to work.

Many companies need external capital or other assistance in, for example, the development phase, commercialisation or foreign export of ideas and products. Innovations can be born in an instant, but often in their background lies long-term work based on experience and expertise.

The EU funds Finnish projects that are related to the development of expertise or innovations. The EU grants support from two Structural Funds: The European Regional Development Fund (ERDF) and the European Social Fund (ESF). The policy guidelines of the funds determine the key objectives of the programmes and the projects to be funded.

The European Regional Development Fund funds innovation systems that support the development of ideas and products and international networks. They are used, for example, to disseminate know-how and productise the best ideas. In addition, research services, development services and innovation services are developed, and assistance is given to the research and product development projects of companies.

The European Social Fund supports e.g. the provision of education that responds to the needs of working life and the acceleration of the transition to working life following studies. Individuals trained via the assistance can develop their expertise, and the Finnish educational system can respond better to the needs of working life and the demand for labour. Companies and educational institutions can also develop expertise in cooperation, which is needed, for example, in the analysis and productisation of new ideas. ESR funds can also be used to develop social innovations, such as for example new ways of operating in communities and networks of actors.

Funds from the European Regional Development Fund (ERDF) and European Social Fund (ESF) are used to support networking connected to skills.