Finvacon Oy’s Internationalization Development Project, Co-Funded by the EU and ELY keskus
About the Project
Finvacon has received the Just Transition Fund (JTF), co-funded by the EU and ELY Keskus. The project aimed to strengthen Finvacon’s position in the international markets, especially within the rapidly growing transformer and electric motor sectors of the energy industry. The initiative supported the company’s strategic growth by enhancing international competitiveness, organizational capabilities, and production capacity.
Key Objectives
- Develop a focused internationalization strategy
- Deepen market understanding and validate product/technology roadmap
- Increase international competencies of key personnel
- Improve production capabilities to support export growth
Funding Information
- Funding Programme: Renovated and Skilled Finland 2021–2027 (Structural Funds, JTF)
- Aid Granted: 91, 421€
- Funding Purpose: To support international growth, capacity development, and competitiveness
Areas of Fund Allocation
- Strategy: Clarification of Finvacon’s internationalization roadmap and market positioning
- Market Insight: Enhanced customer understanding through trade fair and client visits
- Competence Development: Training and workshops to build global sales and marketing skills
- Production Capability: Acquisition of key production assets and layout improvement
Implementation Progress & Insights
All key objectives were achieved successfully, laying a solid foundation for long-term export growth. As a result of enhanced marketing and sales structures, new development needs were identified, most notably the need to further improve production responsiveness to meet increasing demand.
