Kiito – renew your practices and map new markets
Who can apply?
Large companies: Large companies can benefit from Kiito funding, when they are seeking to renew their leadership and operational models.
Mid cap companies: The Kiito funding is suitable for mid cap companies that are looking to renew and develop their business and grow in the international markets. Tekes funds Midcap companies and SMEs according to same funding terms.
What do we fund?
The Kiito funding enables large corporations to develop their growth strategy, leadership and organisational operating practices. Mid cap companies can also improve their capabilities for international growth and investigate new export markets.
Mid cap company
- The company has the desire and ability to export and grow.
- The company has an idea of its competitive advantage in the international market but needs more expertise.
- The company has identified a potential new customer base and has a preliminary understanding of the target market and the size of the business potential.
- Key employees are committed to the growth strategy.
- The company wants to renew its leadership and operational models and is committed to implementing changes.
- The company seeks to create new thinking and practices in its field.
- The company is prepared to share its best practices with others.
Mid cap company
According to the EU, mid cap companies are large corporations with a maximum turnover of €300 million.
What is a Young Innovative Company like?
Large companies can use the Kiito funding to gain new expertise when striving to implement substantial changes in their business. A large company can, for example:
- develop new operational models and leadership within its organisation, for example through employee involvement
- create a new corporate culture and increase its readiness for change
- create and develop new models of work.
The key persons in the company must be committed to change and willing to create new operational models within the organisation. Funded projects are evaluated according to the criteria of the Tekes Liideri – Business, Productivity and Joy at Work Programme and will be part of the programme.
When the project begins, two to five clear and measurable goals will be agreed with Tekes, to be evaluated at the end of the project. The selected goals will be based on the company's potential, in such a manner that they promote its growth and internationalisation. Goal achievement will be an important factor when considering funding for the possible next stage of the project.
Amount of funding
The maximum amount of Kiito funding is €50,000 and it can cover 50% of the total project costs. The maximum funding limit will therefore be reached if the project has a total budget of €100,000.
The Kiito funding is paid to large companies retrospectively, based on reported costs. Tekes requires that the results of the project can be widely used and that the large company spend at least 50% of the project costs on acquiring services in the first instance from SMEs or research organisations.
De minimis grant
Tempo funding constitutes a de minimis grant, which the company does not need to repay.
De minimis aid is state aid for small development projects defined by the European Commission. A company can receive a maximum of €200,000 in de minimis aid over three fiscal years. Tekes may award companies up to €150,000 in de minimis grants during the same time.
At the application stage, the company must assess how much de minimis aid it has received in previous years. Such aid is granted by a range of public organisations in addition to Tekes, such as Finnvera and the ELY Centres.
Tekes will approve costs starting from the date when the application was sent to Tekes, at the earliest.
Eligible costs include:
- Salary and purchased professional services in accordance with the project plan
- Indirect personnel costs: Indirect personnel costs may not exceed 50% of the salary paid.
- Purchased services: Purchased services must be itemised.
- Costs arising from services purchased from other associated companies are not eligible costs.
- In addition, other costs will be accepted up to 20 percent of the sum of salary paid and purchased services. Other costs don't need to be itemised.
The project cannot cover:
- expenses incurred during the routine activities of the company
- costs incurred in supporting exports or from export marketing
- direct investments in the construction of a distribution channel
- staff's professional training