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EU funding opportunities for entrepreneurial scientists
- 1. Entrepreneurial researchers Overview ofpublic grants available in Europe
- 2. Who is thispresentation for? • You are a scientist • You have a company or plan to have one • You need money
- 3. What is thispresentation about? • Not bootstrapping • Not private funding • It is about public funding
- 4. Today’s menu • Key principles for applying for public funding or support Starter •Overview of available schemes Main course • Questions and answers Dessert
- 5. Key principles forapplying for public funding or support Starter
- 6. 1- Know howto differentiate the different types of funding • Grant = money you don’t have to give back, but that is subject to accomplishing something. • Loan = money you give back over a long period in exchange of interests. • Equity funding = money you get in exchange of shares in your business (ownership). The investor gets her money back through a share of the profits.
- 7. 2- Understand funders’positions • Public funders: use public money for the common good. Driven by policies. • Investors: invest own or clients’ money to generate profits, therefore balance risk and return. – Banks: low risk investment, priority in proven business models with assets to pay back investment in case of business failure. – Private equity investors: higher risks taken, mitigated with greater control on the company (shares).
- 8. 3- Understand whenpublic funding intervenes Invention & ideation • Technology development Market discovery • Test assumptions about customer needs / problem • Develop MVP Product/market fit validation • Seek validation that people are interested in your product / service Customer creation • Build demand • Improve efficiency of customer acquisition Company building • Drive growth • Execute business model R&D funding Feasibility grants Demonstration grants Crowdfunding Incubators Founders Accelerators FFF Angels Seed funds VCs
- 9. Choose wisely whichform of funding to target • Applying for public funding takes time and the success rates are low… but raising private funding too! • Apply only if your project fits with the scheme’s requirements and expectations. • Balance time and money: should you right the application or hire a consultant? • Seek for help (somebody with application experience, university grant office, regional or national innovation agencies etc.) • When possible, join forces with experienced applicants. • Have an overall funding strategy that integrates public and private funding (not all eggs in the same basket).
- 10. Public grants aretaxpayers’ money • The funding organisations are public institutions with 2 driving forces: – They aim at gaining a return on investment in the form of a socio-economic benefit. – Their misuse of money can be severely sanctioned. • To you it means: – Your application should demonstrate a benefit for the society. – Plan to promote this benefit to a large audience. – Be ready for some bureaucracy
- 11. Overview of availableschemes Main course
- 12. Funding but notonly Networks Training, coaching, consulting Funding Access to markets
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- 14. COSME The EU programmeto help all SMEs • When you start: loan guaranty facility – The EU is your SME’s guarantor to a bank – It brings access to bank loans to those who can’t • When you grow: equity facility for growth – The EU provides risk capital to private equity investors – The PE firm invests EU money rather than investors’ money in your SME Loan Equity funding
- 15. Eurostars If your SMEneeds research to finalise product launch • Funding for niche market research- performing SMEs • Grant managed by each country (75% country funds / 25% EU funds). 0.5-1M€ • At least 2 partners from 2 different countries, one of them being an SME • Market introduction by 24 months after project completion Grant
- 16. Horizon 2020 –SME Instrument If you already have a technology • Beneficiaries = for-profit innovative SMEs established in the EU, less than 250 employees and turnover below 50M • One SME only or a consortium • TRL6 and above Phase 1 (optional) • Concept and feasibility assessment - Idea to concept • Proposal: 10 pages • Duration: 6 months • Grant: 50K€ (fixed amount) • Up to 3 coaching days • Output: business plan from feasibility study Phase 2 • Innovation project - demonstration, market replication, R&D - concept to market maturity • Proposal: 30 pages • Duration: 1-2 years • Grant: 0.5-2.5 M€ • Up to 12 coaching days • Output: elaborated business plan and commercialisable innovation Phase 3 • Commercialisation - market maturity to market launch • Support services, no funding • Networking opportunities • Output: market success Grant
- 17. InnovFin If you ambitionto grow big and fast Equity of debt financing provided by the European Investment Bank via intermediaries in most cases + advisory Loan Equity funding
- 18. European Institute ofInnovation and Technology grants (EIT) If you want to evolve in a community • Knowledge and Innovation Communities (KIC): – Climate – Digital – InnoEnergy – Health – Raw materials – Food – Manufacturing – Urban mobility (from 2018) • Training • Start-up incubators • Dissemination and communication support • Seed leverage funding Grant
- 19. ESIF: European Regional DevelopmentFund (ERDF) If your project has regional impact • Aim: correcting economic and social imbalances between regions. • Focus on innovation and research, digital technologies, support to SMEs and low-carbon economy. • All regions in the EU receive funding, but rules vary between regions depending on level of development. • You should contact your regional funding authority. List at http://ec.europa.eu/regional_policy/en/atlas/managing- authorities/ Grant
- 20. ESIF: Cohesion fund(CF) If you live in lower GDP country • Aim: reduce economic and social disparities between EU countries. • Focus on transports, energy efficiency, use of renewable energy. • The funds are managed by each eligible region according to their own priorities. • You should contact your regional funding authority. List at http://ec.europa.eu/regional_po licy/en/atlas/managing- authorities/ Grant
- 21. Employment and SocialInnovation Programme (EaSI) If you have no access to bank loans • The European Investment Fund provides funding and guarantees to banks to provide microfinance to entrepreneurs not eligible to standard bank loans. • Find lending institutions at http://europa.eu/youreurope/business/funding- grants/access-to-finance/search/en/ Loan
- 22. Horizon prizes If youhave the drive to compete • Challenge-based prized rewarding with cash whoever can most effectively meet a defined challenge. • 0.5-3.5M€ • Open to single persons or legal entities established in EU or associated countries Prize
- 23. Life+ If you havea solution to environmental challenges • Topic-based calls • Different types of projects: – Pilot projects for solutions never tested before – Demonstration projects for solutions to put into practice – Best practice projects – Information, awareness and dissemination projects Grant
- 24. Funding for spacetechnologies projects • ESA grants: https://business.esa.int/funding • European Global Navigation Satellite Systems Agency grants: https://www.gsa.europa.eu/gsa/grants • Copernicus start-up programme: http://www.copernicus.eu/main/start- programmes • European Satellite Navigation competition: http://www.esnc.eu/participate/ Grant
- 25. Creative Europe For projectin cultural and creative industries • Tenders for service procurement • Or prizes Tender Prize
- 26. 2- Useful initiativeswith value other than funding
- 27. Enterprise Europe Network •The world’s largest support network for SMEs with international ambitions • Helps business innovate and grow on an international scale. • Members include technology poles, innovation and support organisations, universities and research institutes, chambers of commerce.
- 28. European Innovation Partnerships (EIP) •Challenge-driven: – EIP active & healthy ageing – EIP agricultural sustainability and productivity – EIP smart cities and communities – EIP water – EIP raw materials • Network of multi-disciplinary actors involved in a challenge. • You can contribute (in-kind) to an action group – No funding but if you commit to an action that interests you, you get access to a network and exchange of knowledge
- 29. Erasmus for youngentrepreneurs • Cross-border exchange programme for new and inspiring entrepreneurs • The beneficiaries are hosted in companies abroad to learn from successful entrepreneurs. – The host helps the young entrepreneur acquire the skills needed to run a small firm. – The young entrepreneur provide a fresh perspective to the host
- 30. Invest Horizon • Freeonline education content and MOOC about entrepreneurship and investments. • Coaching • Investment forum events
- 31. Startup Europe • One-stopshop for entrepreneurship information • Check the start-up ecosystem map
- 32. European Investment ProjectPortal (EIPP) • Portal to register a project and promote it to investors • See also Gust.com
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- 34. Let’s keep intouch Innotrope SAS Parc Orsay Université 2 rue Jean Rostand 91400 Orsay, France Julien Sudre CEO julien.sudre@innotrope.com +33 695 5158 48 innotrope.com