EIfI - European Institute for Innovation | FREED
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About the project

FREED – Funding Resources for innovation in Energy Enterprise Development

FREED will develop a new service, by the means of which SME’s in the region can access innovation in energy technologies otherwise not be available within the NPA region. FREED will also facilitate the transfer of technology innovations to SME’s across the area, so that the outputs of the project will widely benefit the region. It will achieve this because it provides a unique access private investment, which is the key determinant of success in stimulating innovation. This partnership offers something that will not be available to any other project offered to the NPA by virtue of its access to private investment, and is also unique in being integrated with existing innovation programmes. FREED enhances these without in any way duplicating existing programmes, and this capacity is acknowledged in letters of support. Thus FREED offers NPA the unique capability of attracting innovation to the region, as a result of the practical commitment to funding evidenced through the partnership. There is already clear connection with innovations developed by Sustainable Ventures in London, covering energy storage, electric vehicle hire, and provision of journey data, some or all of which could be made available to SME’s in the NPA region in the right circumstances; all of which will be of benefit to NPA communities; and which will be of benefit to enterprise and job creation. Other innovations in energy are already on the radar with the partnership making this application – but are not available to SME’s in the NPA region currently, and will not naturally be drawn there unless a project such as FREED is implemented. In this way, FREED can enhance existing innovation programmes within the NPA region, which lack this power to attract innovation from outside the region and, as such, is a precise fit for the objectives of Priority 1.


Eligible Budget:  1.996.085,-€

ERDF Funding: 1.223.235,-€

Fundingquote: 61%


University of Oulu

South West College

Western Development Commission

Green Angel Syndicate

Narvik Science Park

Limerick Institute of Technology

European Institute for Innovation

Sustainable Venture Development Partners Ltd

Funding Programme

Northern Periphery and Arctic Programme 2014 – 2020

European Regional Development Fund


For more information visit the project website

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Project objectives

The projects objectives were the following:

To identify and introduce R&D innovations to SME’s in the region that are appropriate and viable for the region, and that would not be available other than through FREED
To attract entrepreneurs generating R&D and introduce them to SME’s in the region, who would not have access to them other than through FREED
To simulate and attract investment in SME’s developing R&D innovations in the region which would not be accessible to the region other than through FREED
To ensure the SME’s commercialising the technology innovations in the NPA region have enough early stage investment capital and other grant funding to survive the growth period when costs outweigh revenues, and capital costs involved in start-up cannot be covered by income for a fixed number of months or years
To monitor and help to manage, or incubate, the start-up and early stage businesses through their launch period, establishing a market in the NPA region, and beyond

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