Learn how to obtain funding for innovation

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

Requirements to obtain financing for innovation

There are various public grants, loans and subsidies that can help to make innovation profitable for your company. 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 is an extra guarantee for projects in order to apply for a line of financing.
• Have a new product or service in the industry 
• 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 recruitment of highly qualified personnel.

Public and private subsidies and tax incentives

There are several types of grants that companies can apply for. But, as Upbizor points out, it is important to develop a financing strategy throughout the company's growth.

• • • First of all, there are state and regional public horizontal financing lines (such as Microbank or Enisa) that are useful for business growth in general: marketing, commercialization, etc.

• • On the other hand, there are lines of financing for R&D&I that focus on the future development of the company, such as the development of a non-marketable prototype. Some examples are those of CDTI or Red.es.

• Finally, something that we could overlook but that will allow us to better manage the company's resources are the different tax credits and incentives that we can take advantage of.

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

If you want to learn more about this topic and learn from the experience of two entrepreneurs like Xavier Piera(Cyklos) and Pau Fernandez(Factorial HR) ???? here you have the video of the Startup Talk 'Finance Innovation' .