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Learn how to obtain financing for innovation

Alexa Romero / 30 Nov 2021 / 3 min

Do you know what the acronym R&D&i stands for? The first 'R' is for research; the 'D' is for development; and the last little 'i' refers to innovation. It is clear that research and development of a product or idea are financeable. But, can we get funding for technological innovation in our company? The answer is yes, and Upbizor, Factorial and Cyklos explained how at the last Startup Talk held at Aticco Bogatell.

Requirements to obtain funding for innovation

 

There are several public subsidies, loans and bonuses that can help make innovation in your company profitable. Cristina Pérez, Head of R&D&I at Upbizor listed the factors that influence the success of our financing strategy:

  • Collaboration with a technology center or university provides an extra guarantee for projects when applying for a line of financing.
  • Having a new product or service in the sector 
  • That there is a research component and that new technologies such as Artificial Intelligence or 5G have been applied
  • That our proposal is supported by the future hiring of highly qualified personnel

Public and private aid and tax incentives

 

There are several types of aid that companies can apply for. However, as indicated by Upbizor, it is important to develop a financing strategy throughout the company's growth.

      • Firstly, there are horizontal public state and regional financing lines (such as Microbank or Enisa) that serve for business growth in general: marketing, commercialization, etc.
    • On the other hand, there are R&D&I financing lines that focus on the future developments of the company, such as the development of a non-marketable prototype. Some examples are those of CDTI or Red.es.
  • Finally, something we might overlook but that will allow us to better manage the company's resources are the various bonuses and tax incentives that we can take advantage of.

As Angélica Barreno, Head of public and bank financing at Upbizor, explained, it is necessary to build a Business Plan with the company's financial needs and prepare for each of them. To this end, Aticco Ecosystem and Upbizor offer a joint consulting service that can help startups design their financing strategy.

If you want to delve deeper into this topic and learn from the experience of two entrepreneurs such as Xavier Piera (Cyklos) and Pau Fernández (Factorial HR) ???? here is the video of the Startup Talk 'Finance Innovation'  

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