Finance is one of the most important elements for making the growth, usually rapid, and the success of new business initiatives sustainable.
Is it possible to improve the current offer of financing opportunities and design them "startup-friendly"?
This is the question that TEC4I FVG and the partners of the FI4INN project want to answer. Through a focus group, the current level of satisfaction of SMEs and STARTUPS regarding current financing opportunities was assessed and some best practices emerged that could positively impact the existing offer.
The top 5 tips are:
-provide upfront financial support based on ex ante financing or lump sum principles
-create consortia to support startups in the phases of accessing financing, simplifying the related bureaucratic processes
-facilitate connections between startups and business angels, bridging the gap between them, given the importance of financial support in the initial stages
-offer, through local innovation centers, strategic guidance to startups. This should pay the right attention to business development and commercial activities, differentiating support depending on the level of technological preparation (TRL) and the characteristics of the individual case. This role can be played by local innovation centers
-consider startups in their early stage as non-profit organizations, eligible for 100% financing, valuing their intrinsic contribution to society.
With this awareness, the activity of the FI4INN project - an initiative of the Interreg Central Europe program - continues with the aim of co-designing new financial instruments dedicated to research and innovation. In fact, the project intends to improve and expand the range of financial instruments to support SMEs and startups.
Would you like to know more? Read the case studies at this link: https://www.interreg-central.eu/projects/fi4inn/