In Spain, because the founding and launch of technology companies is a relatively recent phenomenon, Public capital plays a fundamental role in consolidating the sector. For this reason, and although the government has recently taken contradictory measures, there is still a significant stock of loans available in Spain for technology startups.
The question usually asked by entrepreneurs is what grants are best suited to their particular situation, what requirements they have to meet, what help to request first and how to prepare the application report. It's difficult to answer these questions in a generic way, but let's try to separate companies into three groups:
1. High-potential startups, which innovate in their business model but not in technology.
2. Startups whose business model focuses on exploiting significant technological innovation.
3. Companies with already developed businesses, who want to expand through the development of new technology.
In this post we will focus on the first group:
High-potential startups, which innovate in their business model but not in technology.
There is a logical sequence in raising public funds. And to maximize both the amounts to be achieved and the probability of achieving them, it is important to follow this logic. In the case of companies whose innovations are based on new business models, the alternatives are reduced compared to companies that create new technologies, so it is important to design a very precise achievement strategy.
If the project is very recent, professionals have not yet entered business before and the company is no more than 2 years old and the maximum age of those who hold the majority of the capital is no more than 40 years, Enisa Young Entrepreneurs it is a very good public funding option. This year, the maximum amount has risen to 75,000€ and it finances both the acquisition of assets and working capital. Later, the same company will be able to opt for a Enisa Entrepreneurs. This is a loan that supports entrepreneurs in the early stages of the company with a maximum amount of up to €300,000. Ideal public aid for those entrepreneurs who have found private funding (this is a requirement of Enisa to participate in a round of funding through this grant).
In addition, the company can seek funding in its own autonomous community. In Catalunya there is an initiative of the Institut Català de Finances, which is working very well, through which participatory loans of up to 200,000 euros are provided through the IFEM in co-investment with business angels. Madrid, through Madrid Emprender, has just launched an initiative for which the City Council will contribute up to 100,000 euros per business project, with the private sector having to invest at least an equivalent amount. In Andalusia Are participatory loans available from Invercaria. And, for example, in Navarre Is there an investment fund RICARI. Similar initiatives exist in almost every region. It is necessary to analyze very carefully which ones are available depending on the company's headquarters.
There are not many other alternatives in Spain for this type of company that do not introduce major technological innovations. The question most asked by entrepreneurs Intelectium Is it appropriate to start with Enisa Young Entrepreneurs or wait directly for a Enisa Entrepreneurs. This will depend, above all, on the time that entrepreneurs have been able to work in bootstraping mode (starting with little or no capital). As a general rule, if they comply The five requirements that we at Intelectium believe to be necessary to arouse the interest of professional business angels (at least 2 entrepreneurs working full-time in the company, a prototype developed and undergoing beta testing, engagement, retention, traction and signs of a business model) it may be advisable to think about going directly to Enisa Entrepreneurs with the objective of supplementing significant private investment and thus at least managing to inject at least €500,000 into the company.
