The Estonian entrepreneurship promotion agency, Enterprise Estonia, announced on 8 September that it will start accepting applications for technology investment support from industrial enterprises. This new public funding scheme has been launched following a feasibility study carried out by Technopolis Group in late 2007. That study examined the rationale for support and looked at how it could best be directed.
The Technopolis study concluded that providing financial support will not produce the intended outcomes, such as increased productivity, unless such support is coupled with the development of technology guidance advisory services.
The new support scheme has allocated a total of EEK 680m (€43m) for various types of support until 2013. EEK 110m (€7m) is earmarked for the first round, which closes on 30 October this year.
The objective of the programme is to increase productivity and export potential of industrial enterprises operating in Estonia. Up to 20 per cent of the total investment costs of big enterprises and up to 40 per cent of the costs of small and medium-sized enterprises may be covered through the scheme. The minimum application sum is EEK 1 million.Download the Technopolis report
(also in Estonian) that has contributed to this significant new initiative.