Tekes funding - instructions

Instructions for project reporting

Tekes pays out project funding on the basis of reports and cost statements. The beneficiary must keep a record of project costs, hours worked and purchased services.

The funding decision and terms and conditions provide guidelines for reporting and describe which costs can be covered by Tekes funding and how they should be monitored during the project. Read the decision and the terms and conditions carefully and review them with the accounting firm or accountant responsible for project accounts.

 

Reporting

Progress with the project must be reported to Tekes in accordance with the schedule announced in the funding decision. Submit the report and cost statement to Tekes through its Online Service.

The report has two parts that must be delivered separately:

  1. A content report on the progress of the project
  2. A cost statement on the costs allocated to the project

Working time monitoring and copies of invoices do not need to be sent to Tekes, unless separately agreed. The information from working time reports is summarised on specification template Y4/T4. The specification template must always be completed when wages and salaries are declared.

The reports and cost statements of company projects can only be submitted by the accountable project leader.

Final report

At the end of the project, a final report describing the implementation of the project as a whole is submitted to Tekes. The final report also includes follow-up questions that chart the broader results and impacts of the project.

An auditor's report must be submitted to Tekes as part of the final accounting. The report must cover the entire duration of the project. The Tekes report template must be used for the auditor's report.

Payment of funding

In general, Tekes pays funding – based on the realised costs of the project – after the report on progress in the project and the cost statement have been approved by Tekes.

Regardless of the rate at which costs accrue, 10 or 20 per cent of the funding granted will only be paid after the final report and accounting have been submitted. This is to avoid unnecessary claw-back of funding in case not all the estimated eligible costs materialise. In loan-funded projects, the last instalment amounts to 20 per cent of the funding granted; in grant-funded projects, the amount is 10 per cent.

Payment of funding in advance

Parts of the Tempo and Kiito grants, and the first instalment of a research and development loan, can be paid in advance. Advance payments are mentioned in the funding decision.
Loan funding

The loan funding recipient draws up a promissory note with the State Treasury, which is in charge of practical loan arrangements.

 

Obstacles to payment

Any tax arrears will prevent the payment of funding unless you have arranged a valid payment plan for these with the Tax Administration.

Payment schedule

Our goal is to ensure that SMEs have access to funding within three weeks of their report being received by Tekes. Funding for large corporations is paid within two months, and for research organisations within three months of submitting their report.