Finland Times

The ELY also made 15 acquisitions with the total amount of 2.9 million euros. The funding was partly EU-based and partly national financial, spanning part of the programming period between 2014 and 2020.

The funds are now given from the fund of regional development (EAKR) and the social fund (ESR). The funds for the rural areas will be featured onwards as more applications for funding have recently been taken.

One of the most monumental of these acquisitions was a contract from VeljeksetKarjalainen Oy (Ltd), which includes the improvement of sections of Highway 944 at the bridges of Karsimusperä and Reinikansalmi.

An important funding was given to Kemijärvi city project HIIOP targeted towards the unemployed and uneducated youth. The goal of the project is to strengthen the know-how of these young people and motivate and guide them towards studies and employment.

Another funded project was a centre of congress and well-being by Pohjanranta Oy (Ltd). A business that received funding for its project was AuroraAlert Oy (Ltd), which developed aurora borealis alarm system that works in real time. Repolar Pharmaceuticals Oy (Ltd) received funding for its investments into machinery and work space of its amber decontamination plant and research and development.

While there were many promising ideas, “now, there are more fundable enterprises and projects than we have money available for. There is plenty of activity and we do our best to direct the applicants within other forms of funding such as Finnvera and banks”, said PirkkoSaarela, ELY representative.

According to the ELY-based survey, ELY centers across Finland have funded an exceptional amount of travel businesses during the last half a year.