Early phase financing is a loan aimed at financing the crucial step from bringing an idea to the phase of product development. This step is referred to as the early phase for innovative starters, or as the renewing phase for SME’s. Activities such as creating commercial ideas, market research and the acquisition of required licenses are typical activities that are conducted during the early and renewing phase.
The VFF focuses on three groups:
- Academic innovative startups (economic activities derive directly from research at a university or an academic hospital).
- Innovative startups (< 5 years).
- SMEs (small and medium sized).
To be eligible, you need to comply with the following criteria:
- You haven’t yet received funding or financing for the early of renewing phase.
- You should draft a business plan that shows substantial growth potential.
- You should draft an early / renewing phase plan focused on the requirements of the investor.
- The activities for the early / renewing phase have not yet started .
- You are able to complete the early / renewing phase within 2 years
- You are in possession of a letter of intent from the future investor(s) who will finance the project after completion of the early / renewing phase on their terms. This investment must amount at least as much as the amount you apply for within the VFF application.
Contact us to explore your possibilities within the VFF.