Feasibility study funding for Nordic SMEs
NEFCO provides grants for internationalisation to Nordic small and medium sized enterprises (SME’s) and mid-cap companies through the Nordic Project Fund (Nopef).
The objective of Nopef financing is to facilitate the implementation of Nordic green solutions on global markets and to strengthen the international competitiveness of Nordic businesses. Nopef is funded by the Nordic countries through the Nordic Council of Ministers.
Funding offered from Nopef can cover up to 40% of costs, for a maximum amount of EUR 50,000, for feasibility studies aiming at evaluating a foreign business establishment or investment outside of the EU/EEA region.
Supported projects should target a permanent business establishment in a pre-defined project country, typically trough the establishment of a Joint Venture, subsidiary or similar ownership in a local company in the project country.
Who can apply for funding?
Nordic companies with at least one year of operational history, employing less than 500 persons and having a turnover of up to EUR 100 million can apply for funding.
The applying company must have operational activity in a Nordic country and fully commercialised products or services. The company should also have sufficient financial resources to carry out a business establishment in a foreign market.
Supported projects must have the potential to create a positive environmental impact in the project country. Relevant areas include renewable energy, cleantech, industrial goods and services, building technology, automation, monitoring and control systems, digitalisation, energy efficiency, water technology, waste management, environmental services, agriculture, forestry and aquaculture.
Projects should in addition have a Nordic interest, typically by improving Nordic competitiveness and export possibilities, creating job opportunities in the Nordic region and in the target country, possibilities for knowledge transfer, or through the participation of companies from two or more Nordic countries in the project.
The processing time for received funding applications is typically 5-6 weeks.
How to apply?
Go to nopef.com for further information about the instrument and how to apply or contact our expertise at NEFCO.