Nordic Project Fund - Nopef

The Nordic Project Fund (Nopef) aims to strengthen the international competitiveness of Nordic enterprises by providing co-financing for feasibility studies that support internationalisation of Nordic small and medium-sized enterprises.

Nopef provides conditional loans (grants) to feasibility studies carried out in countries outside the EU and EFTA and which directly or indirectly benefit the environment.
What are feasibility studies?

Feasibility studies focus on proposed business ventures. In the beginning of the internationalisation one should conduct a feasibility study to assess which business form the company should have on the new market before proceeding with the registration of a business.

Nopef offers funding for feasibility studies through interest-free conditional loans, which are converted into grants at the end of the project.

Can I apply for funding?

Yes, if your company is/has:

  • registered in one of the Nordic countries and you’re project is located in a country outside the EU and EFTA
  • employing fewer than 500 employees and has a turnover less than MEUR 100
  • experience in the same business area as the project
  • sufficient financial and human resources relative to the size of the project
  • been operational for at least one year
  • not already established in the project country

The business set up must constitute a risk to the applicant company, and also represent a substantial investment in the target country. The aim of the project is to create a long-term business enterprise.

Environmental criteria

Nopef is giving priority to feasibility studies for projects and investments that contribute to improving energy efficiency, reducing resource consumption, developing sustainable energy and innovations in the field of climate and the environment. Nopef is thus focusing on projects with environmental benefits by investing in more efficient manufacturing and products, modern industrial processes, environmental and refuse technology, as well as in sustainable solutions for housing, infrastructure and transport.

Nopef also funds internationalisation projects that indirectly benefit the environment, such as development and deliveries of technology, automation and process equipment, IT solutions, maintenance, services and knowledge transfer. Nopef will thus support projects where positive environmental impact is achieved at user level.

More information about the Nordic Project Fund and its application process can be accessed here.

For additional information, please contact the Head of the Nordic Project Fund Mikael Reims by e-mail at mikael.reims [at] or by phone on +358 10 6180 670.