Tekes (the Finnish Funding Agency for Technology and Innovation) is the main government financing and expert organization for research and technological development in Finland, founded in 1983.
Tekes finances industrial R&D projects as well as projects in universities, universities of applied sciences and research institutes. It focuses especially on challenging, innovative and risk-intensive projects.
Tekes employs over 380 people. Along its Helsinki-based headquarters Tekes works in close cooperation with the 15 regional Centres for Economic Development, Transport and the Environment (ELY Centres) throughout Finland and six offices abroad in Beijing, Brussels, Tokyo, Shanghai, Silicon Valley, and Washington D.C. Tekes funds its target projects through low-interest loans or grants, depending on the stage of the innovation and the nature of the proposed project.
Tekes also awards financing to foreign-owned companies registered in Finland. Foreign companies with R&D activity in Finland are not required to have a Finnish partner to be eligible for funding. The financed project should, however, contribute to the Finnish economy. In 2009, Tekes was actively funding nearly 2,200 projects with 579 million euros altogether and had a total of 1,535 completed projects.