In today’s industry, Innovation is a key element and excellent ideas that could exploit new technologies or products are very important for the development of business. However, an idea in itself is often not enough. In order to put this idea into practice, an investment is required. This is a major hurdle to many SMEs which may have a very high potential and may be highly innovative, but lack the necessary economic strength to concretize it.

 

Developing an idea into a finished marketable product or technology is very time and money consuming. And finally, marketing the product successfully often takes amounts far from what was initially estimated.

 

Fortunately, there are many ways in which financing can be obtained for innovation.

 

This component will provide an overview of the different types of financing that are available when starting an innovation project. It is however important to note that the financing options available may vary from country to country, even within Europe. We tried to be as general as possible, but we cannot guarantee that the information available here is applicable to your country.

 

The main funding opportunities available, which will be included here, are:

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