Due to the fact that I received quite a few questions on what can be funded in agriculture through the H2020 SME Instrument, I`m gonna give some details and try to answer some of the questions.
With about 20% of the questions on this topic, I’m talking about business models. Some people said that innovation in agriculture does not really exist outside multinationals. They said that the only innovations are, in fact, new business models and that these are hard to finance.
The H2020 SME Instrument gives funding to every kind of innovation possible. And the accent is on innovation.
If you`re an agri startup that wants funding to break through the market with the same products that everyone`s developing, you will NOT get funded. If, however, you`re building something no one has seen (it can be software, hardware, a new way of farming, a new business model etc.), you have a chance.
I`m saying “a chance” because the competition is high, really high.
So, as I said, the accent is on innovation. In order to have a winning proposal, you got to explain two main things: why it is commercially viable and what is innovative about your idea. It`s not enough to have a groundbreaking idea. You have to show that it will survive on the market, make a profit (eventually) and change the paradigm.
Tell me: do you have an idea that you want to develop?
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.