We are Public Funding Experts with 20 years experience managing 1.8000 projects winning 600 million euros of governmental subsidies for public and private organizations.
We support OpenInnovation projects building our own capacity to generate project ideas matching the needs of our clients with technology trends within the funding framework. We have also developed our own platform to support our clients in their consortia set-up.
econet researched the best cases for public funding acquisition and have concluded that there are 25 ways of improving Innovation Funding within entrepreneurs, corporations, governments and research centers.
econet has embarked on a mission to share our research on funding for innovation. We start our journey with you “Introducing OpenFunding”.
OpenFunding, open to what?
econet proposes to open the public funding procedures to the financial market and to the Innovation ecosystem.
Open to the Financial Market
An innovation project can obtain more than just several innovation grants. It could be also eligible for public funding schemes for regional development, education, employability and sustainability. Find out how econet supported the University of Santiago get cross border cooperation grants for a marine toxins R&D project.
An innovation project is a “most wanted” initiative for private banks, venture capitalists, multilateral development banks and CSR sponsorship from large corporation wanting to develop their business and citizenship goals. Find out how econet supports Microsoft get loans and tax incentives for their tech start-ups.
An innovation project requires a business plan to obtain financial support. The project risks are assessed from the economical, technical and managerial perspectives. Find out how econet supported business organizations to develop feasibility studies on their innovation potential with strategic impact through the Tecnoeuropa initiative.
Open to the Innovation Ecosystem
OpenInnovation is about collaborative R&D across several stakeholders. Matching project goals and linking potential consortia members becomes a key element for funding success. Find out how econet helped Tratamientos Ecológicos del Noroeste, a spanish sme to find the best partners for their successful “Friendly” Research for SMEs project.
Research centers and technology providers act as the glue element among corporate and public organizations partnering for industry wide initiatives. The researchers contribute with their networking to spot the state-of-the-art technological partners and technology final users. Find out how econet supported GlaxoSmithKline on their Framework Programme awarded project.
OpenInnovation requires talented experts specialized in facilitating knowledge transfer between R&D players within the Global Innovation Ecosystem. Find out how econet supported Regional Governments (Instituto Madrileño de Estudios Avanzados/Aragón I+D/Xunta de Galicia) to attract high level international researchers to Regional R&D Players.
25 ways of improving Innovation Funding
Through the financial market
- Apply for grants at all territorial levels (supranational, national, regional and local) for different elements and stages from your innovation project to maximize the compatible funding possibilities.
- Explore the eligibility of your innovation project for regional development, education, employability and sustainability purposes.
- Submit an exemplar of your grant application to your banker to obtain bridge finance or subsidized loans for your project.
- Contact Venture Capitalists if your innovation project is a disruptive proposal that allows higher returns but also stronger risks.
- Utilize public venture capital funds inviting private financial players to tackle public items for which start ups offer innovative solutions.
- Engage with multilateral development banks if your innovation project helps achieve international cooperation objectives such as the millennium goals in emerging regions.
- Access multinationals’ sponsorship if your innovation projects supports their CSR objectives.
- Calculate if the free cash flow after Project life cycle allows you to obtain project finance.
- Consider limiting the financial guarantees to your project participation without impacting your overall corporate risk.
- Consolidate your R&D ecosystem inviting third parties to address your medium & long term technological tenders through pre-competitive tenders where they are best fit to obtain funding.
- Spin-off your innovation project with public and private venture capital
Through the Innovation ecosystem
- Enhance your project with R&D initiatives with related ideas
- Link other projects and partners across the value chain of your innovation cycle allowing a stronger consortium set up
- Partner with your competition if your project could result into a new industry standard
- Design better projects ideas collaborating with research experts in your R&D field
- Demonstrate to Public Bodies how innovative solutions helps better implement their policies
- Accelerate the growth of Small & Medium Businesses through the adoption of state-of-the-art technology
- Support your clients achieve their business goals with your innovative solutions
- Provide your development platform for other organizations wanting to address their innovation needs
- Outsource your innovation project to R&D centers to make a better use of public funding
- Inform your partners, clients & providers how they should plan the impact of public funding within their innovation plans
- Retrain your talent learning from other on the job experiences on state-of-the-art assignments
- Attract talented researchers to transfer their knowledge on how to avoid mistakes others have already made
- Transform your business needs into innovation requirements that might help you reach a disruptive technological solution
- Use the new opportunities from public tendering for pre-competitive developments financing technology adoption for public services
- Profit from the non-core IP used by others to develop your own technological solutions