Catalyze is one of the newest residents at Switzerland Innovation Park Basel Area and a market leader in obtaining funding for biomedical and healthcare innovations. We asked country manager Virginia Ballotta for the keys to secure subsidies or grants.
The books, whitepapers and articles on what will help you obtain funding for your company fill the shelves of a decent-sized library. Most of the advice – rightfully – centers around elements like having a clear focus, a strong business model, a great team and valuable collaborations. However, when it comes to grants or subsidies, some additional aspects come into play. Here are three insider’s tips from the experts at Catalyze.
Have the right tools to navigate the jungle of subsidies.
There are a lot of subsidy and grant opportunities out there. It is important to know what is available, what is a good fit for you and your company and for what you are eligible to apply. Many companies are not aware of the possibilities, therefore go to investors too early and eventually dilute the shares.
Find the best fit for your company.
There is a good number of prestigious subsidies and grants. Yet the most important question remains: how well does a program suit your company and are there better alternatives? Just preparing a grant application takes up a lot of time, and once you get it, it comes with responsibilities like reporting and transparency. So before embarking in writing a grant, make sure the program fits your strategy and you have a good shot at succeeding.
Have a plan.
Do not try to cover only the next need on your agenda. Keep in mind that after the current funding cycle, you might require a partner or have to perform additional studies. For many startups it is impossible to have a long-term horizon. Yet having an idea of where you want to be in a couple of years allows you to start thinking about how you are going to get there.
For more information and tips about funding opportunities visit https://www.catalyze.nl/category/news-catalyze/