Food startups on soft funding tourFebruary 08, 2018
Growing Food CPH covers just about all “need-to-knows” for startups within food and food tech. Introduction to the funding landscape in Denmark and the EU is one of these need-to-knows. Read summary of the soft funding seminar this week including relevant links and templates.
Soft funding is loans and grants from governmental institutions. But what are the most important funding programmes for food entrepreneurs? What are the programmes looking for? What are the do’s and don’ts when writing an application? And what are the economic implications of a funded project? All this and more was presented this week at CAPNOVA’s fundraising seminar for Growing Food CPH participants.
Each fund requires a specific application but there is a similar skeleton for all applications. For instance, you need to know what you need funded, what are the implications and how can the funding help you. Some of the aspects that are important to focus on are; who will benefit from your idea, the type of expenses covered, budget size and timeframe, development stage, partner requirements, financial and legal restrictions, what is the payback on the grant etc.
Selecting the right funding programme
There are many Danish and EU funds and each one caters for different businesses at different stages. Some are for startups and some are for more developed businesses. Choosing the right fund to match your needs and setup – the strategic match of the programme - is important. Innobooster, the Danish Innovation Fund and Markedsmodningsfonden are among the big Danish funds, SME Instrument, Eurostarts and IA/RIA systems are some of the relevant EU funds.
Examples of relevant Danish and EU funds
- Future Food Innovation
- Innobooster (- you can also download CAPNOVA's non-standard form for Innobooster application - useful for your writing process, but the final text is to be inserted into the official application form on Innoboosters website).
- SME Instrument
- Fast Track to Innovation
Link to CAPNOVA presentation - an overview of funding (pdf-slides from seminar)
Link to Innobooster presentation (pdf-slides from seminar)