Finnfund manages Finnpartnership, a business partnership programme, which is financed by the Ministry for Foreign Affairs and has been operating since 2006. Finnpartnership offers financial support and advisory services for Finnish companies and other organisations planning commercially viable projects in developing countries.
Finnpartnership’s services aim to increase commercial co-operation between companies in Finland and those in developing countries, to promote imports from developing countries, to stimulate their economic growth, to diversify their production and export structures and otherwise foster their development.
Business Partnership Support is available for conducting feasibility studies, identifying business partners, training employees of the partner, providing expert services for capacity building, and importing from a developing country. Support can also be granted for vocational education and training and support for local education, and demonstrating or piloting technology and solutions, even for projects by the international organisations. Also non-governmental organisations can apply for grant for supporting activities.
Finnpartnership’s Matchmaking service helps companies in developing countries in the search of business partners and cooperation opportunities from Finland.
In 2016 the demand for Finnpartnership’s services increased tremendously. Finnpartnership received 115 new applications and granted Business Partnership Support for 87 projects, to the total sum of EUR 4.5 million. More detailed information can be found in the Board of Directors’ Report.
Of all recipients of Business Partnership Support in 2012, 35 companies, who received a total of EUR 676 000, have submitted their final follow-up reports. 54 per cent of the companies considered their projects as successfully completed and 23 per cent considered the projects to be still ongoing. The companies have invested EUR 16 million in their target countries, which is roughly 24 times the amount of support reimbursed.
The companies provide work for about 680 people. 400 persons are directly employed, 37.5 per cent of whom are women. 71 per cent of the projects reported development impacts related to the transfer of know-how and technology. Personnel were trained in 60 per cent of the projects.
In 2016 Finnpartnership received 441 matchmaking requests from companies operating in developing countries. During the year 130 applications have been registered with the matchmaking database, and 107 companies from developing countries have been connected directly with a Finnish company. As a result, 98 follow-up discussions between companies have been initiated.
|Other low-income countries||7|
|Least developed countries||16|
|Other low-income countries||6|
|Least developed countries||10|
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Nest Factory imports unique, high-quality textiles from developing countries and has used Finnpartnership to find partners from as far afield as India and Peru.
GreenEnergy Finland is helping Egypt increase the use of renewable energies. Support from Finnpartnership gave the company a head start.