Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

How startups and highly innovative companies can exploit european funding

200 views

Published on

It focuses on the funding opportunities and how they can be exploited by startups, Small and medium enterprises and highly innovative companies. It outlines the necessary framework and recipe for achieving this as well as the what anyone should start doing from today in exploiting successfully european funding.

  • Be the first to comment

  • Be the first to like this

How startups and highly innovative companies can exploit european funding

  1. 1. © Nikolaos Floratos, Fundingexpert.academy Why you cannot afford to fail in EU grant mechanisms for SMEs and startups Nikolaos FLORATOS, Founder hFp://www.keyinnovaKons.co.uk
  2. 2. © Nikolaos Floratos, Fundingexpert.academy Copyright © Nikolaos Floratos, www.fundingexpert.academy All rights reserved. No part of this workbook may be reproduced, distributed, or transmiFed in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior wriFen permission of the publisher, except in the case of brief quotaKons embodied in criKcal reviews and certain other noncommercial uses permiFed by copyright law. For permission requests, email to the publisher Nikolaos Floratos at nf@cyberall- access.com
  3. 3. © Nikolaos Floratos, Fundingexpert.academy Who is Nikolaos Floratos •  Founder of Funding Expert Academy programmes that masters individuals in EU funding programmes and exploits the most successful and largest no. of proposal developers across Europe •  Ac4ve in european funding industry since 1997 (19+ years) •  EC expert/evaluator since 2003 (13+ years) •  Author of the ebook “Learn from the Horizon 2020 champions” downloadable from www.NikolaosFloratos.com •  Trained and coached hundreds of consultants and organisaKons on exploiKng successfully EU funds •  The only professional in the whole Europe with 40+ recommenda4ons in my linkedin profile (www.linkedin.com/in/floratos) as expert in european funds, trainer/coach 3
  4. 4. © Nikolaos Floratos, Fundingexpert.academy EssenKals for SMEs and startups funding mechanisms Basic Concepts
  5. 5. © Nikolaos Floratos, Fundingexpert.academy Funding to support only and directly innovaKve SMEs Programme Name: InnovaKon for SMEs – SME Instrument Main Areas: The aim of the SME Instrument is to fill the gaps in funding for the early stages, Research and InnovaKon and acceleraKng the exploitaKon of innovaKon. Available budget: €2,8 billion More info: hFps://ec.europa.eu/digital-single-market/ en/sme-instrument-0 5
  6. 6. © Nikolaos Floratos, Fundingexpert.academy European Funding for enterprises especialy Small –Medium Programme Name: COSME Main Beneficiaries: SMEs, Enterprises Main Areas: AcKons that advance at european level the Innova4on and compe44veness of SMEs Main Par4cipants: SMEs Available budget: €2.22 billion More info: hFps://ec.europa.eu/easme/en/ cosme Programme Name: EUROSTARS Main Beneficiaries: SMEs, consumers, enterprises, industry Main Areas: AcKons that advance at european level the Innova4on and compe44veness of SMEs Main Par4cipants: R&D performing (highly innovaKve) SMEs that create impact to the idenKfied beneficiaries Available budget: €1.2 billion More info: hFps://www.eurostars-eureka.eu/ 6
  7. 7. © Nikolaos Floratos, Fundingexpert.academy Budget for SMEs COSME Eurostars SME Instrument BUDGET mainly for SMEs and startups 7 €6,22 billion
  8. 8. © Nikolaos Floratos, Fundingexpert.academy SME instrument Societal Challenges Leadership in Emerging and InnovaKve Technologies Horizon 2020 2,8 billion € 2014-2020 €168 Million for administraKon 2,63 billion € funding for Forefront know how Growth BeFer life for EU ciKzens 6% 94% €376 Million funding Very conservaKve AssumpKons Proposal Development cost around 3% of requested funding 7% Success rate (~1/14 ) Assume yearly Proposal Development cost around 3% of requested funding 93% failed rate (~13/14) ~11 million € spent annually for successful proposals of total budget 376 million € €154 million spent annually for failed proposals In SME Instrument WHY YOU CANNOT AFFORD TO FAIL in EU grant mechanisms such as SME instrument! 8
  9. 9. © Nikolaos Floratos, Fundingexpert.academy Conclusion 1 Amount(€) organisaKons spent in total every year for developing and parKcipaKng in proposals that fail to receive funding in SME instrument: €154 Μillion Big need for effecKve training, coaching and support! 9
  10. 10. © Nikolaos Floratos, Fundingexpert.academy SME instrument Country … Country 2 Country 1 1,2 billion € 2014-2020 €72 Million for administraKon 1,13 billion € funding for Forefront know how Growth BeFer life for EU ciKzens 6% 94% €161 Million funding Very conservaKve AssumpKons Proposal Development cost around 3% of requested funding 25% Success rate (~1/4 ) Assume yearly Proposal Development cost around 3% of requested funding 75% failed rate (~3/4) ~4,83 million € spent annually for successful proposals of total budget 161 million € €14,5 million spent annually for failed proposals In Eurostars programme 10 EUREKA/EUROSTARS Programme and why you cannot afford to fail
  11. 11. © Nikolaos Floratos, Fundingexpert.academy Conclusion 2 SMEs should focus also in other related funding opportuniKes for supporKng the deployment of their innovaKve products such as Eurostars that success rate is quite aFracKve 25% success rate* *Source: ExecuKve Agency for SMEs hFps://ec.europa.eu/easme/en/small-companies-applying-eurostars-grants-have-25- success-rate 11
  12. 12. © Nikolaos Floratos, Fundingexpert.academy Fundamentals in funding for SMEs Why European Funding (its purpose) – Three PrioriKes •  Create forefront (new and useful) knowledge in Europe (e.g. see all three pillars in Horizon 2020) •  Advance Growth (e.g. see 2nd pillar in Horizon 2020:LEIT – Leadership in Emerging and Industrial Technologies) •  Improve Quality of life of European CiKzens (e.g. see 3rd Pillar in Horizon 2020 – Societal Challenges) 12
  13. 13. © Nikolaos Floratos, Fundingexpert.academy Valley of Death Valley of Death Projects for SMEs EC Funding ~70% 1. Fore-front knowledge 2. Growth & CompeKKveness 3. Quality of life of EU CiKzens Successful DisseminaKon & ExploitaKon Strategy New requirement for all European programmes including SME instrument for the period 2014-2020. A convincing DisseminaKon and ExploitaKon Strategy is required within the proposal applicaKon 13
  14. 14. © Nikolaos Floratos, Fundingexpert.academy 7 Myths in SME instrument •  Myth 1: It is almost impossible for a start up to be successful in SME instrument •  Myth 2: It is extremely difficult to convince evaluators for the high quality of our SME proposal •  Myth 3: A project/product innovaKve at a naKonal level is suitable for SME instrument •  Myth 4: Being successful in SME instrument requires a lot of Kme and resources •  Myth 5: ParKcipaKng in a european project for SMEs such as SME instrument, Eurostars, COSME may jeopardise the ownership of my expected innovaKons •  Myth 6: Perfect command of English is needed for a great SME instrument proposal •  Myth 7: Submitng and implemenKng an SME instrument project is a complicated process 14
  15. 15. © Nikolaos Floratos, Fundingexpert.academy Myth 1: It is almost impossible for a start up to be successful in SME instrument •  It is true that SME instrument has been mainly developed for SMEs, however startups from many countries have received financial funding from SME instrument(Source EASME update Apr 16) •  Therefore, failure is not based on SME/startups size but on the following –  InnovaKon disKncKon of suggested innovaKon –  Maturity level of suggested innovaKon –  European market prospects of suggested innovaKon –  Startups/SME’s capacity to advance suggested innovaKon –  DisrupKon level of suggested innovaKon (New, useful and saving resources) –  Lack of support (coaching, training, etc) from SME instrument experts 15
  16. 16. © Nikolaos Floratos, Fundingexpert.academy Myth 2: It is extremely difficult to convince evaluators for the high quality of our SME proposal •  It is true that very few (6%-10%) of SME proposals impress the evaluators but mainly because they fail to provide clear and well jusKfied presentaKon of the following in their suggested innovaKons: –  Excellence quality: InnovaKon disKncKon, product maturity level, SME’s teams capacity, market opportuniKes, market disrupKon –  Impact quality: European/global market posiKoning & prospects, european policies support, exploitaKon strategy –  ImplementaKon quality: workplan quality, team resources, implementaKon methodology, risk conKngency measures 16
  17. 17. © Nikolaos Floratos, Fundingexpert.academy Myth 3: A project/product innovaKve at a naKonal level is suitable for SME instrument •  It is a good starKng point for innovaKons established at naKonal level to exploit SME instrument but not enough, since they should also – be disKnct at european or global level – add value to european or global markets 17
  18. 18. © Nikolaos Floratos, Fundingexpert.academy Myth 4: Being successful in SME instrument requires a lot of Kme and resources •  Failed proposals in SME instrument start from scratch during the proposal development process •  Successful proposals in SME instrument have already a clear vision and have worked towards that. This implies that parts of their applicaKon form should be based on exisKng (even dravs) of –  A preliminary market analysis (market posiKoning) –  A preliminary innovaKon analysis (disKnct innovaKons) –  A preliminary impact analysis (expected benefits) •  These analyses are essenKal not for the proposal development but also for self-assessing the success potenKal in the SME instrument •  Any analysis should be based on reliable sources 18
  19. 19. © Nikolaos Floratos, Fundingexpert.academy Myth 5: ParKcipaKng in SME instrument may jeopardise the ownership of my expected products On the contrary, since SME instrument •  requires successful applicants to ensure that the Intellectual Property Rights of their innovaKons are protected •  financially supports the costs for patenKng at a european or global level their innovaKons 19
  20. 20. © Nikolaos Floratos, Fundingexpert.academy Myth 6: Perfect command of English is needed for a great SME instrument proposal Perfect command of English is not needed at all but •  Although proposals under SME instrument can be submiFed under any official language of European Union, English is strongly recommended •  Proposal secKons should be well structured based on clarity, conciseness and credible sources •  Easy to understand language should always be used, since most of the SME instrument evaluators do not have as mother tongue the English language 20
  21. 21. © Nikolaos Floratos, Fundingexpert.academy Myth 7: Submitng and implemenKng an SME instrument project is a complicated process •  SME instrument proposals should be submiFed online based on a specific process but –  Although submission process is straight forward, it requires some pre-requisites (e.g. to have a PIC no., SME status validaKon) –  An administraKve person, normally a secretary can be involved in the proposal submission •  Accepted projects in SME instrument receive financial support for any specialised tasks such as in conducKng feasibility study, business plan, market analysis, etc. 21
  22. 22. © Nikolaos Floratos, Fundingexpert.academy How can you be successful in european funding programmes for SMEs Funding Expert Transforma4on Process FETPTM Formula
  23. 23. © Nikolaos Floratos, Fundingexpert.academy Funding Expert TransformaKon Process • Understand how SME instrument mechanism works • IdenKfy the most aFracKve funding topics for your needs Step 1 • Follow rituals religiously • Master all acKons from iniKaKng an aFracKve idea to successful submission Step 2 • Prepare great proposal • Master how to write a convincing proposal Step 3 5 Fingers’ Technique I.C.R.E.A.T.E.S. system C.R.I.T.E.R.I.A. Formula Daily Habits B.U.N.D.L.E.R. Habits From Struggle To Success 23
  24. 24. © Nikolaos Floratos, Fundingexpert.academy The 7 Habits of SME Funding Champions B.U.N.D.L.E.R.TM Formula
  25. 25. © Nikolaos Floratos, Fundingexpert.academy B. Build to Last! 25
  26. 26. © Nikolaos Floratos, Fundingexpert.academy B. Build to Last! © FundingExpert.Academy European funded projects for SMEs shall support the •  mission of your organisaKon •  vision of your organisaKon •  CreaKon of forefront know-how •  Job growth and compe44veness •  Increase the quality of life of EU ciKzens •  i.e. don’t fall in the “Valley of Death” 26
  27. 27. © Nikolaos Floratos, Fundingexpert.academy U. Upset the Status Quo! 27
  28. 28. © Nikolaos Floratos, Fundingexpert.academy U. Upset the Status Quo! •  You know the SMART objecKves •  Specific •  Measurable •  Achievable /Againable •  Realis4c /Relevant •  Time (in) •  They are not complete, since SMART objecKves are not Innova4ve! •  Think outside the box and be innovaKve 28
  29. 29. © Nikolaos Floratos, Fundingexpert.academy N. Never Eat Alone! 29
  30. 30. © Nikolaos Floratos, Fundingexpert.academy N. Never Eat Alone! © FundingExpert.Academy Three meals in a weekday •  2 meals with family, friends, old colleagues •  1 meal with new colleagues, partners, clients, funders, experts, mentors, project managers, etc •  i.e. 260 meals in a year for sharing ideas, connecKng, getng feedback, establishing partnerships •  What about coffee? •  AFend infoday events Drop the rule “Ask and Shall Receive” and adopt the moFo “Give and Shall Receive” 30
  31. 31. © Nikolaos Floratos, Fundingexpert.academy D. Don’t Delay it, Delegate it! 31
  32. 32. © Nikolaos Floratos, Fundingexpert.academy D. Don’t Delay it, Delegate it! Winning SME instrument Proposals require teams with a 1.  Proposal Leader 2.  Proposal Wri4ng Team (in-house team incl. an Expert in the proposal topic 3.  Secretary 4.  Evaluator 32
  33. 33. © Nikolaos Floratos, Fundingexpert.academy D. Don’t Delay it, Delegate it! A Proposal Leader is responsible for •  Coordina4ng the proposal wriKng process •  “Ea4ng” with experts, funders, potenKal supporters and getng feedback •  Engaging competent supporters •  Coordina4ng the allocaKon of budget and resources •  Coopera4ng with the secretary for the administraKve and submission process •  Assessing the quality of proposal secKons and contribuKons and taking proper acKons for further improvements •  Coopera4ng with the evaluator for the proposal review 33
  34. 34. © Nikolaos Floratos, Fundingexpert.academy D. Don’t Delay it, Delegate it! The Proposal Wri4ng Team is responsible for wriKng the proposal secKons based on the C.R.I.T.E.R.I.A. formula/EvaluaKon Criteria •  Consor4um •  Relevance of the Project •  Innova4on •  Transeuropean Dimension •  Economic •  Reputa4on •  Impact •  Approach Tip no. 1: Delegate different secKons to individuals according to their experKse and competencies 34
  35. 35. © Nikolaos Floratos, Fundingexpert.academy D. Don’t Delay it, Delegate it! “Secretary” is responsible for 1.  Collec4ng all administraKve documents from partners if applicable such as agreements, profiles, CVs, LeFers of support, NDAs, admin forms including PIC, etc 2.  Submijng the whole applicaKon in coordinaKon with the proposal leader 3.  Ensures that the focus of the other members is in wriKng an excellent proposal 35
  36. 36. © Nikolaos Floratos, Fundingexpert.academy D. Don’t Delay it, Delegate it! “Evaluator” responsible for assessing 1.  the proposal idea 2.  The proposal summary and 3.  The proposal final drav Feedback given should always be criKcal and include suggesKons for further improvement. There is no proposal that is perfect 36
  37. 37. © Nikolaos Floratos, Fundingexpert.academy L. Learn that Good is the Enemy of Great Voltaire Enlightenment Writer 37
  38. 38. © Nikolaos Floratos, Fundingexpert.academy L. Learn that Good is the Enemy of Great 1.  Build a profound proposal summary that engages 2.  Network, network, network. 3.  Realise that everything counts but first impression counts more 4.  Prepare an impressive introducKon 5.  Build the proposal according to the selecKon award criteria 6.  Engage an Evaluator as external reviewer 7.  Don’t make compromises! 38
  39. 39. © Nikolaos Floratos, Fundingexpert.academy L. Learn that Good is the Enemy of Great Great proposals have very few compromises, i.e. •  No compromises in the partnership •  No compromises in the quality of each proposal secKon •  No compromises by avoiding preparing a well structured summary •  No compromises in getng feedback by experts, funders, partners, clients •  … 39
  40. 40. © Nikolaos Floratos, Fundingexpert.academy E. Endorse a Sharpen Axe! 40
  41. 41. © Nikolaos Floratos, Fundingexpert.academy E. Endorse a Sharpen Axe! © FundingExpert.Academy Once upon a *me, a very strong woodcu5er asked for a job in a *mber merchant and he got it. The pay was really good and so was the work condi*on. For those reasons, the woodcu5er was determined to do his best. His boss gave him an axe and showed him the area where he supposed to work. The first day, the woodcu5er brought 18 trees. “Congratula*ons,” the boss said. “Go on that way!” Very mo*vated by the boss words, the woodcu5er tried harder the next day, but he could only bring 15 trees. The third day he tried even harder, but he could only bring 10 trees. Day aNer day he was bringing less and less trees. “I must be losing my strength”, the woodcu5er thought. He went to the boss and apologized, saying that he could not understand what was going on. “When was the last *me you sharpened your axe?” the boss asked. “Sharpen? I had no *me to sharpen my axe. I have been very busy trying to cut trees…” 41
  42. 42. © Nikolaos Floratos, Fundingexpert.academy E. Endorse a Sharpen Axe! © FundingExpert.Academy Thus, never say for example that I am a proposal writer and •  I don’t do networking with funders and experts or •  I don’t connect with potenKal partners supporters or •  I don’t need to write an impressive summary or •  I don’t need to delegate •  … 42
  43. 43. © Nikolaos Floratos, Fundingexpert.academy R. Recognise Mistakes as Learning Opportuni4es! B.U.N.D.L.E.R. 43
  44. 44. © Nikolaos Floratos, Fundingexpert.academy R. Recognise Mistakes as Learning Opportuni4es! We are learning from our mistakes, therefore, •  Learn from your mistakes but most importantly •  Learn from the mistakes of others B.U.N.D.L.E.R. 44
  45. 45. © Nikolaos Floratos, Fundingexpert.academy Follow up AcKvity At the end of each day self-check the status of your B.U.N.D.L.E.R. habits, i.e. Ask yourself the following and if you are not saKsfied with your answers, work harder unKl it becomes a habit! ü  Have you been busy with things that are meant to last today? ü  Have you upset the status quo today? ü  Have you eaten with another person at your work today? ü  Have you delegated things today? ü  Have you prepared something great today? ü  Have you done things outside your daily rouKne that make you more effecKve? ü  Have you learned anything today from your mistakes or from mistakes of others?
  46. 46. © Nikolaos Floratos, Fundingexpert.academy Tip! Ul4mate check/test ques4on at open session on choosing the most suitable proposal idea: If I win the lo5ery today, will I s*ll go ahead with this idea and invest the winnings instead of reques*ng funding? 46
  47. 47. © Nikolaos Floratos, Fundingexpert.academy Get Connected •  Join me at my linkedin profile www.linkedin.com/in/floratos and/or •  at my facebook page www.facebook.com/NikolaosFloratos •  If you want to add further value on what you have learned so far and master in depth the Funding Expert Process for SMEs and startups, you can join funding expert academy at www.fundingexpert.academy 47

×