A pivotal moment for businesses. What funds can they apply for in the coming months

Joanna Tytz, expert at the EU Funds Competence Centre at Bank Millennium

The second half of 2025 opens up unique opportunities for entrepreneurs to obtain European and international funds. We are at a key moment in the implementation of cohesion policy, the revision of the National Recovery Plan (NRP) and the creation of innovative instruments such as STEP. For companies planning to invest in innovation, green transformation or production automation - this is the last moment to prepare to use the huge potential of funds available on the market. A strategic approach to the selection of appropriate instruments and professional preparation of projects are crucial.

The pace of implementation of European programmes creates a growing tension between the quality of projects and the need for quick contracting of funds. For entrepreneurs, this means the need to prepare proposals even better and precisely match to the competition criteria. It becomes crucial not only to have an innovative idea, but also to demonstrate its impact on increasing technological independence or reducing the carbon footprint in order to adapt to the requirements of competitions and obtain funding.

STEP initiative - a new quality in financing strategic technologies

The aim of the STEP platform is to support innovative projects that contribute to the development of the European Union's technological sovereignty strategy. Support focuses on three key areas:

• Biotechnologies
• Digital technologies
• Clean and resource-efficient technologies

The STEP Platform, i.e. the Strategic Technologies for Europe Platform, has a budget of over PLN 1.8 billion, as part of 13 new calls introduced in the FENG programme.

The STEP programme offers two funding tracks. Track A supports innovative projects that bring breakthrough elements with significant economic potential to the internal market. Track B is a complete novelty in the system, focusing on projects relevant to the EU's strategic autonomy that contribute to reducing dependency on external suppliers in key technology areas.

Among the procedural improvements, it is worth mentioning the possibility for companies to submit project fiches, which allows for a preliminary assessment before submitting a full proposal. This is a significant simplification, which is aimed at increasing the chances of effective evaluation of projects and reducing the number of submitted proposals.

SMART Track - flexible support for innovators

The SMART Track is the flagship instrument of the FENG programme, thanks to which entrepreneurs can apply for funds for the entire innovation chain - from idea, through research, to commercialisation and promotion - under a single proposal.

The competition allows entrepreneurs to design support in a modular way, depending on the specifics of their business and the stage of innovation development. The R&D or Innovation implementation modules can be supplemented with components related to digitalisation, process greening, internationalisation or competence development, which allows for a comprehensive approach to the transformation of the company.

So far, a number of innovative projects have been implemented under the SMART Track, which have received funding. It is worth showing some interesting examples. These are among others:

• development of microbiologically enriched organic fertilizers;
• innovative technology for the production of cottage cheese with a longer shelf life;
• automated technology for the production of low-pressure turbine components;
• an IT platform that uses AI to design new lipid molecules.

These projects, financed under the SMART Pathway, are an excellent example of how support for innovation can contribute to the development of modern technologies and the sustainable development of various sectors of the economy. Thanks to flexible solutions, entrepreneurs gain the opportunity to effectively adapt and introduce innovative products and services to the market.

Currently, a call for proposals dedicated to projects implemented in consortia is underway, open from 1 July to 30 September 2025.

Green loan - green financing

An ecological loan from the FENG programme is one of the most popular support instruments for enterprises. The programme offers co-financing of expenses related to the modernisation of infrastructure in order to reduce primary energy consumption by at least 30%.

The call for proposals is planned from 24 October 2025 to 8 January 2026 and is addressed to both small and medium-sized enterprises and large companies employing up to 3000 people.

The ecological loan mechanism combines an investment bank loan with a subsidy intended for the repayment of the loan principal, which makes it particularly attractive for companies planning comprehensive energy modernisation.

The condition for participation is the presentation of a conditional agreement or a loan promise from the bank and demonstrating an appropriate level of energy savings in the planned project on the basis of an audit.

Bank Millennium actively participates in a number of transactions under the environmental loan, supporting enterprises in the implementation of projects increasing energy efficiency. The most frequently financed investments include, among others, comprehensive thermo-modernisation activities, implementation of energy-saving technologies in production plants, modernisation of production infrastructure and financing of RES installations and energy management systems. Through these initiatives, companies have significantly reduced their energy consumption, improved their competitiveness and reduced their carbon footprint.

Norway Grants - a new deal on the horizon

On 23 April 2025 in Warsaw, an agreement was signed opening the fourth edition of the EEA and Norway Grants in Poland. Poland will receive PLN 4 billion in support, which is 25% of the total allocation for all 15 countries covered by the programme. The first programmes are planned to start at the turn of 2025 and 2026.

The Norway Grants for entrepreneurs focus on the development of green technologies, energy transformation and the implementation of innovative environmental solutions. Two priorities will be particularly important: Applied Research and Innovation with a budget of about PLN 343 million and Green Entrepreneurship and Innovation with an allocation of about PLN 236 million. The project eligibility period began on 24 April 2025 and will last until the end of April 2031, which gives beneficiaries a long-term perspective for planning and implementing investments.

Regional programmes - local responses to global challenges

Marshal's Offices in Poland are implementing ambitious recruitment plans under regional operational programmes. Each region adapts its offer to its specific local economic needs. The regions' priorities mainly include innovation development, energy transition, digitalisation and the circular economy.

In the second half of 2026, entrepreneurs from the Podlaskie Voivodeship and Eastern Wielkopolska will be able to apply for funding for research and development works. On the other hand, the Silesian, Lublin and Lubuskie regions will enable support for the implementation of the results of R+D work on product and process innovations.

The West Pomeranian Voivodeship will focus on supporting investments in specialised digital solutions. In turn, the Warmian-Masurian Voivodeship, Subcarpathian Voivodeship and Podlaskie Voivodeship are planning calls dedicated to the implementation of solutions in line with the idea of circular economy (CE), including, among others, reuse of raw materials, reduction of waste and improvement of material efficiency, which is to reduce the costs of doing business.

The National Recovery Plan in the key implementation phase - last chance

The National Recovery Plan is in a critical phase of implementation. The key information is the planned extension of the deadline for the implementation of the NRP until the end of 2026, with investments having to be reported as completed by the end of August 2026, though commissioning and payments can be made later. One large, probably the last revision of the NRP is planned, which will allow for an increase in allocation for good projects on reserve lists and the redirection of funds from delayed investments.

Currently, a call is underway for repayable instruments for digital transformation, which are being implemented by Bank Gospodarstwa Krajowego (BGK).

Strategic Financing Planning

Success in obtaining European funds requires a comprehensive approach - from the analysis of development needs, through the verification of planned expenditures, to the selection of the optimal combination of own, credit and grant financing.

A large number of planned competitions will allow to adjust the possibilities to the real needs of companies, which should translate into an increase in the competitiveness of Polish enterprises in the international arena.

Choosing the right financial partner, offering not only advice on the preparation of proposals, but also comprehensive instruments for bridge financing of EU projects, becomes crucial for success in the new, more demanding regulatory environment.