Funding your project or company

Public funding

02 Useful tips

  • Make sure you choose a relevant funding option for your project or company and that your project idea corresponds to what the financier is looking to fund
  • Do not underestimate the time commitment needed to write a good proposal and plan for it in time.
  • Usually, a proposal needs to involve a novelty aspect so really think about how your project brings additional value and what is novel, unique and innovative about it. What sets you apart from your competitors?
  • Set realistic, clear and measurable goals for your project – do not overpromise, but do not under promise either.
  • Make sure that your proposal is well structured and easy to read – try to find a good balance between text, tables and images. Evaluators usually have very little time to read the proposals and they should be able to grasp the information fast and clearly. Avoid overcomplicating the text.
  • If you are not an expert in writing proposals, then you may want to engage professionals.
  • Public funding usually entails some sort of reporting so budget and plan for that. Furthermore, make sure that you are in line with all the requirements.
  • Bureaucracy is a trade-off for the relatively cheap funding source (aka you do not need to give away equity)
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