There is a national system of support covering everything from product development to transition and regional expansion. Tillväxtverket, Almi and Vinnova are the three most important players, but they do different things and suit different needs.
Grants or loans - what's the difference?
A grant (or support) is money you don't pay back, provided you meet the conditions. A loan you repay with interest. Venture capital is equity financing where an investor takes a stake in the company.
Tillväxtverket primarily provides grants and manages the EU funds. Almi provides loans and venture capital. Vinnova finances research and innovation through grants.
Tillväxtverket's support programmes
Tillväxtverket manages several large support programmes. Most are partly financed with EU money and require co-financing from you as a business owner.
Business development checks (Affärsutvecklingscheckar) provide up to SEK 250,000 to buy in external expertise, for example in digitalisation, sustainability or exports. You pay 50 percent yourself.
Regional investment aid (Regionalt investeringsstöd) covers up to 35 percent of investment costs in assisted areas A and B. The minimum investment is SEK 100,000.
European Structural and Investment Funds (ERDF and ESF+) finance measures for growth, employment and transition. You apply regionally through the County Administrative Boards (länsstyrelserna).
Almi - loans and venture capital
Almi Företagspartner is the state's financing arm for growth companies. With 40 offices across Sweden, Almi provides loans, venture capital and advisory services.
Almi Lån starts at SEK 100,000 and can run to several million. Almi often takes on the risk that banks are unwilling to take, for example at start-up or expansion without collateral.
Almi Invest takes equity stakes in innovative growth companies. The investment is often made as co-financing alongside private investors.
Almi's advisory services aren't free but are often good value. The advisers help you with your business plan, financing and business development.
Vinnova - research and innovation
Vinnova is Sweden's innovation agency. It finances research and product development in companies, universities and the public sector.
Vinnova requires you to demonstrate a clear innovation angle. Simply improving an existing product isn't enough, you need new technology or a new approach.
Common Vinnova programmes: Forska och väx (grants for R&D in SMEs), Eureka and Eurostars (international collaboration), Strategic Innovation Programmes.
How to choose the right support
Three questions help you find the right fit: Do you need capital now (a loan) or a grant that covers costs? Is the project about innovation, or about growth and expansion? Are you in an assisted area?
Start-up and early growth phase: Almi Lån + business development checks. Established business with R&D: Vinnova. Investment in an assisted area: regional investment aid.
| Tillväxtverket | Almi | Vinnova | |
|---|---|---|---|
| Type of financing | Grant | Loans & venture capital | Grant (R&D) |
| Order of magnitude | SEK 50,000-2M+ | SEK 100,000-several M | SEK 500,000-10M+ |
| Target group | Growth companies & assisted areas | Start-ups & growth companies | Innovation & R&D |
| Repay? | No | Yes | No |
| Processing time | 2-4 months | 1-2 weeks | 3-6 months |
Frequently asked questions about national support
Can I apply for support from several agencies at once? Yes, but you must report all the support you've received. The EU's cumulation rules set a ceiling on the total support per project.
How long is the processing time? It varies: Almi can respond within 1-2 weeks. Tillväxtverket often takes 2-4 months. Vinnova can take 3-6 months for larger application rounds.
Want help navigating this?
Tillväxtstöd maps out which national and regional support you can apply for and helps you with the application. Contact us for a free review of your company's options.