Can social entrepreneurs access innovation grant funding?
Yes! Grant Funding is often prioritised around the kind of projects that social entrepreneurs / impact ventures are seeking to pursue. The UNSDGs are global priorities and have informed many innovation grant funding programmes.
Is it true innovation grant funding is only for high-growth businesses?
No – although you should be ambitious for sure. Innovation Grant Funding is all about helping high-risk, high-return, high-impact projects get from idea to market. That doesn’t mean your venture must have aspirations to generate £billions in profits for shareholders – it could just as well be interested in generating significant impact for stakeholders. Of course, the venture needs to be sustainable and scalable and we can help you plan that journey.
What information do you need from me in order to assess my chances of securing grant funding?
Take a look at the Impact Venture Journey that we have mapped. Steps 1-5 cover all of the information we either need from you or can help you develop in order to create a funding application with a high chance of success.
What funding sources are available to businesses?
Funding sources for businesses include equity investment (Angel & VC), Grant Funding, Crowdfunding (Equity, Loan & Reward), Debt (Loan & Innovation Loan) and Revenue (the cheapest form of funding!). We have written an eBook that covers the majority of funding sources – you can access the book for free by clicking here.
At what stage should I get in touch with Venturenomix for support?
We can support your impact venture through all of the stages we have mapped in the Impact Venture Journey. We can work with you from the beginning, or get involved at specific stages – for example we often get involved at Step 4: Funding Scope or Step 6: Developing Applications.
How long does the funding process take?
This depends on the funding you are going after, but it is worth allowing 6-12weeks to prepare any application for funding. Decision time frames vary from 1 week (for business support grants) to 24weeks for the most complex EU multi-partner grants.
Crowd Funding Campaigns generally run for up to 12weeks and equity rounds can take 24weeks depending on the stage of funding and the number of investors involved. See our eBook for more information on the time it takes to secure funding.
How much funding could I get for my impact venture?
You can get anything from €300 to €15m+ in funding for your impact venture. There are multiple funding sources (see our eBook) and strategic entrepreneurs will look to benefit from a range of funding options as their venture scales.
How many grants could I apply for?
Some organisations apply for 20 grants every year if they have multiple projects spanning many sectors. For example, a city looking to further the deployment of smart infrastructure could be involved in multiple active grant funded projects simultaneously.Typically, it is worth looking to develop 1-3 grant applications if resources allow.
What is non-dilutive funding?
Non-dilutive funding is cash coming into an organisation from funders that does not require the sale of any shares (equity).
What is R&D funding?
Research & Development funding (also known as Research & Innovation funding) is funding awarded for the activities associated with bringing novel products, processes and services to market. R&D funding will make a significant contribution to market research, developing prototypes, testing and preparing for market launch.
Can you advise me on EU grant writing?
We have developed a 7 step process that maximises your organisations chances of successfully securing EU Grant Funding. Our consultancy and / or training services will support your journey through EU Grant Funding – we can advise on specific steps or manage the entire process.
What types of funding can you help me access?
We specialise in non-dilutive funding (grant funding in the main) and we work closely with a select group of investors and debt providers that allow us to extend our funding services to include equity and debt. This is focused on funding for impact ventures!
Have a question that’s not featured on this page? Get in touch.