Getting money for your start-up

You can’t start a new venture without funding. That is well-known. Many people reach out to family and friends, other to bank credits, entrepreneurial subsidies and business incubators. Of course, there’s also the crowdfunding option.

Here is where Horizon 2020 comes in. Google H2020 and you’ll find all the information you need. Here is where you can find the funding opportunities for your area of expertise: find your area.

The major setback is that you need to write a proposal, a real good one as there are many applicants and a limited amount of money. Here is where funding consultants come in.

Usually, consultancy companies and freelance writers work about the same. They ask for an advance to cover the working hours and resources used and, after that, they work “commission-based”, generally a between 5 to 10% of the project. This might sound good, but there’s no guarantee that your proposal will be successful and that your advance will have not been in vain. There are companies that work without an advance, taking the entire risk on them.

My favorite approach is none of these. I prefer to evaluate proposals and project ideas to give an upfront response on whether or not they have a chance to get funding. Of course, I`m subjective, but my opinion comes from expertise and from being able to read between the lines (of a call for proposals).

This article isn’t meant to advertise my services, although I wouldn’t mind a call or two just to discuss opportunities.

It is meant to present you with your options. If you have a business idea and you are set up on working hard on it, for more than 40 hours per week (sometimes 24*7), then you should apply for funding. Find a consultant and speak with him, but be sure that you`ll get an honest opinion, not that of a guy who wants and advance.

H2020 can give you the greatest push that you would need, but you have to be smart about it. Get that entrepreneurial state of mind before starting.