Travel grant for Helsinki based startups

03/15/2018

Are you looking to expand to new international markets?

Helsinki based startups can apply for a travel grant from the City of Helsinki to support their international expansion. The travel grant covers 70 % of your travel costs up to 2500 €.

The Travel grant is available for trips with a clear business focus and when the trip´s aim is to launch the product or business operations to a new market, to acquire key partners and investments that are essential for the expansion or if the company is participating in operations or an event organized by the City of Helsinki or its partner.

Is your company eligible for the travel grant?

For a successful application your company needs to fulfil the following criteria:

  • The company’s legal domicile or post is in Helsinki.
  • The company is under 6 years old.
  • The company’s shareholder agreement includes at least two natural persons.
  • The company’s turnover from the previous year and any granted external funding from the previous 12 months does not  exceed 500 000 €, at the time of applying.
  • The company has a plan for significant international growth.
  • The company employs under 50 people.
  • The company has an existing minimum viable product. Exceptions can be made in certain sectors (eg. pharmaceuticals) on the recommendation of the NewCo Helsinki business advisor.
  • The company is not listed in the stock exchange.
  • De minimis funding granted for the company does not exceed 200 000 € (cash grant equivalent) over a 3 year fiscal period.

How to apply?

  1. Fill out the travel grant application form and send it with your company description (i.e. company 1-pager) to  internationalgrowth@hel.fi
  2. Before the trip NewCo Helsinki reviews the company’s application and travel plan.
  3. After returning from the trip all, the receipts and the travel report form are to be submitted within two months of the last travel date.
  4. Once all documents have been properly submitted and approved by NewCo the grant will be paid to the company’s bank account.

What costs does the travel grant cover?

Travel grant is applicable for the actual travel expenses between the destination and the departure city detailed in the travel plan. Accommodation costs are reimbursed for approved business days.

Maximum compensation:

European flights 600 € / per person / per trip

Other flights 1200 € / per person / per trip

Accommodation 100 € / per person / per night

In addition, it is required that the travelling method, duration and route are purposefully selected. Only economy class tickets will be compensated. Taxi or public transport costs, travel insurance or visa expenses are not compensable travel costs. The costs of cancelled trips are not compensated.

How much does the travel grant cover?

The travel grant covers 70 % of the actual approvable travel expenses up to 2500 € per travel plan. The minimum payable amount is 300 € and travel grants below 300 € are not paid.  A company can be granted a travel grant for two separate travel plans in one calendar year.

The funding granted for those engaging in business activities is de minimis funding as defined in degree 1407/2013 by the European Commission.

For more information contact: internationalgrowth@hel.fi

The original city decision with the detailed criteria and conditions is available in Finnish: https://dev.hel.fi/paatokset/asia/hel-2017-013744/