Get off to a good start
The competition for public funding is fierce. Before you get started, you should consider whether or not you company and your project has got what it takes.
Is public funding right for your project?
Before you decide to start an application, consider the following five central aspects:
Time-consuming application process
Most applications are extensive and call for well-prepared data. Are you able to prioritise the time of your best employee to prepare the application?
Demand for co-financing
You need to finance part of the project budget yourself. Start-ups typically find it hard to meet this demand. Do you really have the resources?
Strong and convincing skills
The funding programmes only support projects in which the applicants are up to the job. Can you convince an evaluator that you have the necessary skills?
The project idea meets the demands
Each programme makes different demands for the height of your innovation as well as relevance to society. Does your project idea match the specific call?
Supporting certain steps
Public funding is typically targeted the phases of research, development and demonstration. Activities such as marketing and production are not supported. Is you project at a relevant stage of development?
If you answer yes to most of these questions, you are well on your way towards public funding.
How to get started
In the initial phase you should consider all the aspects of your projects. These three pieces of advice might help you:
1) Find the right funding programme
Increase your chances of success by choosing the right call. It sounds so simple but the market for funding is vast and it takes time to identify the best options. Some programmes have a bottom-up call, while others have specific theme-based calls. Use Tech-Funding.eu to search for the best options.
2) Check the novelty
Examine whether or not your product/service has a sufficient height of innovation and as a result is new or applied in a new way. Do a novelty search or freedom to operate analysis. You can also have university validate the technology or get in contact with the respective funding authority to “pitch” the idea.
3) Team up with the best
Many funding programmes demand international partnerships – meaning you must apply as a consortium. It must be absolutely clear why each partner participate in the project. The ideal partner helps lift the quality of the consortium and has the skills and resources to carry out their own activities. Naturally, there are many advantages of teaming up with partner you already know. However, a new partner often contributes with new perspectives, which benefits the project and your company.
Are you all set? Then you are ready to start scoping your project and writing the application.
Can you acquire public funding?
TechFunding is specialised in public funding. Our consultants can help evaluate your chances to win funding. Get in touch to discuss your possibilities.
Guide to public funding
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