Financial support from Nopef

Explore new markets through a feasibility study.

Financial support for internationalisation

We offer green Nordic SMEs financial support for assessing and preparing international activities on markets outside the EU/EFTA area through Nopef, the Nordic Project Fund. Supported projects should aim at an international establishment in a specified target country or at the implementation of demonstration or pilot projects for green technologies or solutions with an identified local partner or customer.

Terms and conditions

The support provided can cover up to 50% of the costs for feasibility studies for internationalisation to a maximum amount of EUR 50,000. The support is offered in the form of an interest-free conditional loan to be converted into a grant upon project completion. Disbursements of the granted funds are made based on actual costs incurred by the grant recipient. Support provided by Nopef is considered as de minimis state aid in accordance with the EU regulations.

If the project is realised and results in a foreign business establishment or investment, the entirety of the Nopef funding is converted into a grant. If the project is not realised through foreign business activity, 50% of the funding from Nopef is converted into a grant.

Projects must concern a commercially proven technology, product, service or business model with a demonstration value and up-scaling potential in the target country.

Relevant projects include solutions in areas such as energy efficiency, cleantech, infrastructure, industry, water treatment, waste management and renewable energy. Nopef grant is to be used specifically for feasibility studies, project planning and development and other preparatory activities. The support cannot be used for direct investments in equipment, products, raw material, inventories, or operating costs.

Who can apply for Nopef funding?

To meet application criteria, the applicant company should:

  • Have fewer than 250 employees and less than EUR 50 million in turnover
  • Be registered in a Nordic country
  • Be an established business with commercialised products or services
  • Have the relevant experience and sufficient financial and other resources for internationalisation

Project eligibility

Projects eligible for Nopef funding must meet the following criteria:

  • The project aims at an international establishment, or investment in a demonstration or pilot projects
  • The project’s target country is outside the EU and EFTA
  • Clearly defined commercial objectives
  • Verifiable direct or indirect positive environmental or climate impact
  • Contributes to increased competitiveness, employment, economic growth, transfer of skills and technology in the Nordic countries, or involves Nordic cooperation partners

Additional criteria for feasibility studies aiming at commercial demonstration or pilot projects

  • The solution must have a demonstration value in the target country but must be commercially proven on other markets.
  • An identified local partner or customer for the pilot/demonstration project is required.

Read more about project eligibility and environmental criteria

How to apply

Nopef receives funding applications on a continuous basis. Visit to download the application materials or contact our investment experts for further details.

Contact our investment experts

If you would like to get more information before applying, submit the contact form and we will get back to you soon. You can also contact our investment experts directly.

More information about financing for SMEs

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Contact us

Victor Degerlund Senior Investment Officer
Swedish, Finnish, English
Søren Rasmussen Investment Manager
Danish, English, Swedish, Finnish
Vanessa Salmela Investment Officer
Swedish, English, Finnish
Joakim Svahn Investment Officer
Swedish, English


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