ICF-IFEM: Up to €200,000 for innovative technological startups

The co-investment aid of the Catalan Institute of Finance (ICF), Financial Instruments for Innovative Companies (IFEM), is a type of joint financing with private investors (also known as Business Angels) in the form of a participatory loan. In addition, IFEM can allocate part of the formalized amount (up to a maximum of 15% or €20,000) to invest in the company's capital. The potential beneficiaries of this aid are both entrepreneurs and innovative technological companies and startups with a scientific base seeking funding for their early-stage projects. In addition, it is an aid that does not require personal guarantees.What is the amount of the aid?The amount of aid ranges from the minimum €50,000 to the maximum €200,000 per project, always conditioned on investment in the form of capital of at least the same amount, by private investors acting as “Business Angels”. With the objective of accompanying companies in subsequent rounds of funding, IFEM may increase the amount invested to an additional 200,000 euros under the same conditions. ICF-IFEM has a fixed and a variable interest. The fixed interest is a 12-month Euribor plus interest of 5%, while the variable interest is determined based on the evolution of the business plan, up to a maximum of 7%. In addition, it has an opening commission of 0.5% on the formalized amount. As for the amortization period, it is a maximum of 5 years with up to 2 years of grace period.How is the request made?The corresponding request must be made through an accredited intermediary: a network of business angels or a private investment company or vehicle. If you don't have time or want to increase your chances of success in receiving funding from ICF-IFEM. At Intelectium, we specialize in funding for innovative startups and SMEs and we can relieve you of all the work involved in preparing, applying and managing them to obtain ICF-IFEM help. Unlike other consulting firms, we work 100% successfully, meaning that we are at risk and we only charge when the entrepreneur obtains funding. If your company meets these characteristics and you want to request an ICF-IFEM, contact us hither and receive support to finance your startup through this line.