Frequently Asked Questions about EU Startup Services
This is one of the objectives of the workshop. We will help you understand what is required to write a successful application and train you on how to do it.
This is one of the objectives of the workshop. We will help you understand what is required to write a successful application for your specific idea/product/and train you on how to do it.
Some Do’s a d Don’ts
Apply at Will: the most common is mistake is to apply at will to several instruments without understanding the intention and objective of those instruments vis a vis your Startup / SME’s innovation, objective, roadmap and needs. This results in a wasted time and effort and ultimately, frustration
Apply while Unready: another common mistake is to apply just because you think you have a great idea or innovation or business plan and without the necessary supporting content and structure. Evaluators read such applications as ”great ideas” but unfortunately not elaborated and explained enough and hence not ready to be funded
Overstate: on the other end of the spectrum, don’t overstate your objectives, expected impact and / or present a shortened roadmap to success in a bid to over impress the evaluators. The overall impression of your application must be that it is feasible, credible and that you know what you are doing, in particular the risks you face and how to deal with them and that you are not just a brilliant creative person and dreamer
Mess-up the financials: entrepreneurs like to do things sharp and brief, including the financials! Winning proposals however do need to have the financial part correctly elaborated. This does not mean that we need a 10 page business plan, less is more indeed, but do make sure to include all the relevant information, particularly on costs.
Apply in a Hurry: it’s important that the final package is completed and clean. From spelling and grammar, to headers to page numbers to figures to consistency checks, these little details do make a difference, so don’t wait till the last minute to submit in a rush, take the time to check and double-check your application before the final submit.
Match: be sure about which EU Funding scheme for Entrepreneurs. StartUps, SMEs are applicable for you based on the stage of your startup (ideas, early stage, growth stage), so that you apply at the right time, to the right instrument
Prepare: collect and organise the information expected in the application, and how it must be structured so that when you are applying, you have all that you need, in the correct formats, ready to be packaged properly into a winning proposal
Understand: understand clearly how EU funding works, the process and roadmaps and in particular what types of EU Funding schemes apply for Entrepreneurs, StartUps and SMEs, so you don’t waste your time on irrelevant instruments
Write: Describe your idea, the innovation it represents, the business plan and the expected impact, correctly, comprehensively and in line with the expectations of the EU scheme, within the page limits, so that it meets all the checks and criteria the evaluators look for
Package: Ensure that your application is correctly packaged, both in terms of the expected content and structure but also, most importantly, in terms of the overall flow and narrative, the story that you want to tell, that it’s coherent, consistent and credible from beginning to end