Arctic Investment Platform (AIP)
The aim of the Arctic Investment Platform (AIP) feasibility study and roadmap project is to make use of top-level European experts and join the forces of the Northern Sparsely Populated Areas (NSPA) of Finland, Sweden and Norway to:
- Analyse the demand and feasibility of a structured funding co-operation of the NSPA regions to boost the investment capacity of the regions SMEs;
- Propose a framework for such a support system;
- Provide a tangible roadmap for the set-up of such a support system if deemed feasible;
- Ensure credible resources to engage in a dialogue with the institutions relevant to the set-up of such a system (incl. regional stakeholders, national funding agencies, financial institutions, European Investment Bank (EIB), European Commission and national ministries in each of the three countries).
A more structured investment co-operation can take many different forms depending on the market gap or need it aims to fix. These gaps and the demand for new or more structured support systems between the NSPA regions need to be explored in depth. The results will form the basis for construction of a new or enhanced investment support. It may range from pooled expertise in building bankable projects to a joint cross-border funding structure. At this stage we refer to such cross-border funding/support structure as the Arctic Investment Platform.
The Arctic Investment Platform project is funded by the Interreg Nord program, the regional development authorities of Lapland, Oulu Region, Kainuu, Pohjois-Karjala, Pohjois-Savo, Etelä-Savo, Västerbotten, Norrbotten, Nordland, Troms and Finnmark, and the city of Oulu. The project is coordinated by the Regional Council of Lapland and is being implemented from 01.01.2019 to 30.6.2020.
Partner organisations in the project are:
- Regional Council of Lapland (Lead partner)
- Region Västerbotten
- Business Oulu
- Region Norrbotten
- Norinnova AS
Before the Interreg Nord project a pre-feasibility study was conducted via a shorter AIP project funded by the European Regional Development Fund (ERDF) and coordinated by the Regional Council of Lapland. The feasibility study focused on the investment gaps and barriers in the NSPA regions of Finland, Sweden and Norway and provides the basis for the Interreg Nord project.