How to get funding for product development?

Did you know that 3200 European innovative small businesses and start-ups signed high value contracts and secured funding for product development? We are talking about accessing up to 2.5 million Euros of equity free funding! Watch 4 minute video to learn how you can achieve the same and change your business forever.

It’s no secret: to develop a product costs A LOT! To build brand, market awareness and fully functional sales channels ALSO costs a lot. As a result, market and revenues are something that will yet need to happen.

In addition, phase in which you need to build fully functional product, is highly risky. There are no venture capitals around at such times. None wants to sign a million dollar contract with you. Rather, they want to see some traction first, before you can pitch them. They seem reserved and while they are interested, they don’t open their wallets. Probably it is just you and your team that believe in your innovation at that time.

To help you overcome such nerve-braking situation, we had put together a 4 minutes explainer video. Watch it to learn about amazing funding opportunity named SME Instrument. It was designed for innovative SMEs to access funding for product development. Opposite to private funding, this is equity free funding scheme. EU agency, EASME, runs selection procedures and management activities related to approved projects.

Most of entrepreneurs, innovators, start-ups and innovative SMEs have never heard of presented EU funding scheme. However, it is providing funding for product development since 2014.

SME Instrument in a glance

  • What is it? It is a program designed by European Commision to support innovation projects. If you win, you will be able to pass so called “valley of death” and dominate market.
  • Who can apply? SMEs developing groundbreaking innovations. In addition, team must demonstrate high innovation capacities, global growth ambitious, aiming to change the industry and market.
  • How much capital can you get?: Between 50.000 EUR and up to 2.5 million EUR.
  • How can u use the money?: Main idea is to to finalise product development and prepare your business for global market entry. Some of the activities might include: technology development, testing and validation of innovation with first users, establishing sales channels, designing IP protection strategy and more.
  • Expected impact: After your project is completed, your innovation is expected to be market mature and your business ready to disrupt targeted markets. As a result, your project will create new value and supply chains.
  • What do you need to do? You need to develop a project proposal. SME Instrument is opened through out the year and cut off dates are set in advance until 2020. You can check them here.  (Scroll down through the page).
  • Are there any other benefits?: If you are successful and you sign the grant, you can expect increased attention of media, exposure at world-class industry events, free access to premium business coaching, meetings with investors and so much more. In conclusion, we are talking about building a global business, not merely a project.
  • How do you know if you qualify? Watch this short video as it is especially relevant for you, if  you are looking for smart capital.

Seeking for an expert eye to raise funding for product development?

Based on our advice, 11 of our clients obtained funding under SME Instrument. We are proud to report 4X higher success rates then competition, due to our unique pitching method. All of our clients report on improved business clarity, sales talk, pitch presentations and marketing communication. See their success stories here, since they were happy to share it with innovators like you.

Let us help you crush the market with your innovation. Access to our lead hi-tech funding expert and schedule a short chat.