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HRDC
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6 Posts
Posted - 10 Sep 2007 :  09:36:53  Show Profile  Email Poster  Reply with Quote
How to find funding for innovation projects in company?

Ensuring financial resources is definitely one of the most important factors for ensuring the development and implementation of innovation processes in a company. Which could be the sources for it: internal and external. Internal sources could be funds gathered from the profit formed by the company. Different type of external resources could also be used: bank loans, national investment programmes, European fund etc. How to find information about them? How to choose the most suitable way for financing?

HRDC

Edited by - HRDC on 10 Sep 2007 09:38:20

Edited by - HRDC on 10 Sep 2007 09:39:36

Edited by - HRDC on 10 Sep 2007 09:40:24

HRDC
Moderator


6 Posts
Posted - 10 Sep 2007 :  10:47:01  Show Profile  Email Poster  Reply with Quote
Message from Basilis (translation from message in Greek forum)

Indeed, ensuring subsidy is as difficult as the production of an innovative idea. However, it is crucial to have in mind two things: 1) that every innovation might end up being very prosperous no matter the initial cost., 2) in order to survive, a company should launch a very mindful innovative strategy. So, the manager should always be informed about the current financial status of the company in order to realize whether there are sufficient financial resources or not and of course all managers are obligated to have their eyes open towards every direction in order to take advantage of all opportunities.
Basilis


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borut
Administrator


9 Posts
Posted - 10 Sep 2007 :  22:35:13  Show Profile  Email Poster  Reply with Quote
9.6. Trans-European support to rapidly growing companies
The European Union provides assistance to SMEs from Member States and often from candidate countries. They are available in different forms such as grants, loans and, in some cases, guarantees. Support is available either directly or through the European Union’s Structural Funds, managed at national level. SMEs can also benefit from a series of non-financial assistance measures in the form of programmes and business support services.
The assistance schemes have been divided into the following four categories:
1. Funding opportunities directly available to SMEs
This funding is mostly thematic with specific objectives – environment, research, education – designed and implemented by different Departments of the European Commission. SMEs can directly apply for the programmes, generally under the condition that they present sustainable, value-added and trans-national projects. The support of the European Union consists of subventions covering generally 50% of the costs of a project.
2. Structural funds
European regional development funds are a major funding source for SMEs, through the different thematic programmes and community initiatives, implemented in the regions. The beneficiaries of structural funds receive a direct contribution to finance their projects. Note that the programmes are managed and the projects selected at national and regional level.
Structural Funds intervention are designed to help reduce disparities in development of regions and to promote economic and social cohesion within the European Union. Thus, the European Commission co-finances regional and horizontal operations in the Member States, through programmes in the fields of agriculture, regional policy, employment and social affairs. Note that the programmes are managed and the projects selected at national and/or regional level.
3. Financial instruments
These financial tools are managed by the European investment Fund (EIF) and the European Investment Bank (EIB). Note that they do not invest in SMEs directly, but usually work through financial intermediaries.
4. Other types of support
They consist generally of non-financial assistance, mostly in the field of internationalisation.


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borut
Administrator


9 Posts
Posted - 10 Sep 2007 :  22:43:34  Show Profile  Email Poster  Reply with Quote
For more pls check the possibilities of EU fundings:

http://www.innovation.si/links.asp
9.Innovation and R&D support system

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ICDC
Moderator


9 Posts
Posted - 12 Sep 2007 :  16:11:48  Show Profile  Email Poster  Reply with Quote
I think we all know that funing exists on different levels from the company level to national and international level, but the problem is more the strategy for how to choose the correct way of funding in a certain case. I have no straight answer to that, but I have several times declined funding from regional and national funds just because they always want something in return which when the innovation is successfully implemented.

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greek1
Advanced Member


4 Posts
Posted - 13 Sep 2007 :  17:35:52  Show Profile  Email Poster  Reply with Quote
I agree that the main challenge is to choose the most suitable way for funding an innovation project or to prepare the innovation idea in a frame that will be acceptable for the specific source of funding. And also usually funding is not only necessary to develop an innovation idea but also to implement it in the practice and ensure its sustainability in the time.
Denitza

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janez
Advanced Member


6 Posts
Posted - 18 Sep 2007 :  22:54:53  Show Profile  Email Poster  Reply with Quote
We are looking for a partner in Greece to establish business cooperation. Is it possible to get the funding for an internationl project focused on marketing activities. Is it obvious to start an inovative or research project?

Janez, Slovenia

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