How to start a #startup and get #funding?

startup-fundraising.jpg

If you need a "cookbook" to guide you through all the aspects of documentation and planning to get funded for your startup, read Alejandro Cremades 2016 book, "The Art of Startup Fundraising" 224 pages full of useful information. 

Chapter 1: Everything Started with Onevest
Chapter 2: Raising Capital for Your Startup
Chapter 3: Setting Yourself Up for Success
Chapter 4: Crafting the Pitch
Chapter 5: The Due Diligence Package
Chapter 6: Sources of Capital
Chapter 7: Understanding the VC Game
Chapter 8: Investment Rounds Explained
Chapter 9: Deciding Investment Amounts and Prospects
Chapter 10: PR: Creating a Storm and Building Momentum
Chapter 11: What to Look For in an Investor
Chapter 12: Term Sheets and Terms
Chapter 13: Closing the Deal
Chapter 14: Avoiding Common Fundraising Mistakes
Chapter 15: Understanding the JOBS Act
Chapter 16: Recommended Tools for Fundraising
Chapter 17: Red Flags

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Thomas Lidforss

Senior Business Advisor & International Business Development Projects

I have a MSEE with MBA in Business and Product Planning. 15 years of experience in complex international projects, consultative business advisor activities in the IT and Telecom industry. Have worked with small (VC funded startups) and large businesses (B2B). Interacted with customers on top levels and project level among vendors and service providers. Managed in a program/multi-project environment. Good at finding cost-effective and sustainable IT solutions for the customer, both through sourcing / procurement and selection of alternative technology.

How to get EU #funding #H2020 for your research or #Innovation project?

Getting funding from EU through the Horizon 2020 program is a good opportunity for all companies within EU and EOS countries to finance research and innovation in all phases of development of new products from a concept to market introduction.

The H2020 scope covers

  • Proof of Concept
  • Prototype development
  • Testing
  • Develop a pilot
  • Upscale of downscale a solution
  • Replicate solution for different markets

Applicants

  • Small and medium enterprises (SME)
  • Large enterprises
  • Public enterprises
  • Universities and research organisations

Horizon 2020 areas

Horizon 2020 is divided into 3 three pillars and 2 specific objectives corresponding to its main priorities:

  • Excellent Science
  • Industrial Leadership
  • Societal Challenges
  • Specific objective 'Spreading excellence & widening participation'
  • Specific objective 'Science with and for society

Call and Topics

Some open calls are continuously open with cut-off dates and some are organized as  "Stage 1" and "Stage 2". This is common for the SME calls, like phase 1 for feasibility study and phase 2 for an innovation project.

Phase 1

Approved proposals will get a lump sum of EUR 50,000. Projects are expected to last around 6 months.

Phase 2

A phase 2 proposal should focus on an innovation project according to the scope above. The goal is to get from idea to market and the project may also include research. Guidelines for approved proposals for phase 2 are in the range of EUR 0.5M to 2.5M. Proposals are allowed to ask for different amounts though. Projects are expected to last between 12-24 months. 

Note: Only research activities / projects and non-profit can get 100% funding for an SME phase 2 innovation projects you get 70% of requested amount.

How to find H2020 Calls for Proposals

Use the search and filter page at Calls for Proposals

H2020 Online Manual

The Online Manual is located here

This is a good place for all your online activities, when you begin (after having done research on what call and topic you should apply for), pay attention to some prerequisites, you need an online ECAS account registration, Company registration and do the Financial viability self-check

EUROPEAN COMMISSSION AUTHENTICATION SERVICE (ECAS)

You need to register for an ECAS account before you can start using the proposal services.

Company Registration

You can register your company here

Once company registration is complete you will receive a 9-digit Participant Identification Code (PIC) to use for projects  participation.

Financial Viability Self-check

"The Commission always checks the financial viability of a project coordinator when the requested EU funding for the action is equal or superior to EUR 500,000 unless the coordinator is:

  • a public body
  • a higher or secondary education establishment
  • an international organisation or body whose participation is guaranteed by the government of an EU country or associated country, in accordance with the Grants Manual section on legal entity validation and the H2020 Annotated Model Grant Agreement.
  • a private individual in receipt of a scholarship"

You can do the self-check here.

For more details, see the manual.

H2020 - Expert Registration

EX2015D258394 - Expert profile for Thomas Lidforss

For help with H2020 activities, Contact Us

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Thomas Lidforss

Senior Business Advisor & International Business Development Projects

I have a MSEE with MBA in Business and Product Planning. 15 years of experience in complex international projects, consultative business advisor activities in the IT and Telecom industry. Have worked with small (VC funded startups) and large businesses (B2B). Interacted with customers on top levels and project level among vendors and service providers. Managed in a program/multi-project environment. Good at finding cost-effective and sustainable IT solutions for the customer, both through sourcing / procurement and selection of alternative technology.

Doing business in and with #Norway - How to use #Export #Credit #Guarantee Agency

Norwegian Export Credit Guarantee Agency

As a follow up on "Export Credit Financing", Norwegian exporters and foreign buyers can use the Norwegian GIEK -  Garanti-instituttet for eksportkreditt (Norwegian Export Credit Guarantee Agency) to complement their financing terms or as quoted from GIEK:

«The Norwegian Export Credit Guarantee Agency's (GIEK) guarantees provide competitive financing for foreign buyers of Norwegian export – and security for the Norwegian exporter.»

Process

  • Start with export credit can provide upto 85% of loan funding for a buyer
  • Use GIEK to add/get a commercial bank to possibly provide 100% funding for a buyer loan
  • CIRR sets the interest rate. A recent example for Eastern Europe, 2.8% for 12 M €
  • Bank gives tentative termsheet for 120 days
  • Bank requirements for GIEK needs to have at least BBB credit rating
  • Export Credit Norway pays out the money
  • Up to 10% of the contents of a Norwegian product/solution can be sourced locally

Contact Thomas Lidforss International for doing business with Norway

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Thomas Lidforss

Senior Business Advisor & International Business Development Projects

I have a MSEE with MBA in Business and Product Planning. 15 years of experience in complex international projects, consultative business advisor activities in the IT and Telecom industry. Have worked with small (VC funded startups) and large businesses (B2B). Interacted with customers on top levels and project level among vendors and service providers. Managed in a program/multi-project environment. Good at finding cost-effective and sustainable IT solutions for the customer, both through sourcing / procurement and selection of alternative technology.

Doing business in and with #Norway - How to use #Export #Credit #Financing

Export Credit Norway

Export Credit Norway

Export Credit Financing

The Norwegian government offers businesses in Norway to assist their foreign buyers with favorable loan financing backed by the Norwegian state through Eksportkreditt Norge AS (Export Credit Norway). 

The Exporter

Eksportkreditt handles the entire process related to: 

  • Sales/marketing
  • Application
  • Going through loan agreements, documentation, payout and follow up.
  • You can use simplified application for up to NOK 100 M (approx. 12 M USD) 

Focus

  • Industry & Renewable energy
  • Offshore & Shipping

The loans are always guaranteed by the Norwegian government. Export Credit Norway cooperates with GIEK (Norwegian Export Credit Guarantee Agency) and banks. More on GIEK in the next blogpost.

The Borrower

  • You can choose publicly backed fixed rate CIRR-loans (Commercial Interest Reference Rate) or market loans
  • You can borrow up to 85% of the value of the contract
  • You can get credit for up to 18 years
  • You can free up local credit
  • You get access to stable funding backed by the Norwegian Government 

Contact Thomas Lidforss International for doing business with Norway

 

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Thomas Lidforss

Senior Business Advisor & International Business Development Projects

I have a MSEE with MBA in Business and Product Planning. 15 years of experience in complex international projects, consultative business advisor activities in the IT and Telecom industry. Have worked with small (VC funded startups) and large businesses (B2B). Interacted with customers on top levels and project level among vendors and service providers. Managed in a program/multi-project environment. Good at finding cost-effective and sustainable IT solutions for the customer, both through sourcing / procurement and selection of alternative technology.