Entrepreneurs starting up their activity have an original business idea, refine its details, however, each start-up comes to the moment at which the mere enthusiasm, creativity and belief in success are not enough. Thanks to the PARP funds, it is easier to take another step.
The PARP’s proposals for new entrepreneurs:
Innovation Loan Fund
The programme is addressed to the companies at the start-up stage which need stable financing for their further development. The Innovation Loan Fund is a debt financial instrument aimed to solve the problem of the equity gap in the SME sector. The money from the Innovation Loan Fund will allow to finance the development of a new company. An entrepreneur must find a private investor and persuade it to cooperate. The investor may be a venture capital (VC) fund or a business angel.
Scale UP – Start In Poland
Scale UP is a pilot competition implemented within the framework of the InnoLAB programme and the government Start In Poland programme. It is focused on the acceleration, i.e. speeding up the development of start-ups. The acceleration is a programme dedicated to micro- or small entrepreneurs, lasting from 3 to 6 months, developed in cooperation with large companies and aimed at preparing a product or service for commercialisation, based on intense work with participants of this programme. It shall include, in particular, advisory and mentoring support as well as financial support, with the aim of accelerating the process of creating a product or service which may be used by a large enterprise. The result will be the commercialisation of innovative solutions proposed by start-ups, including products and services, which will be a response to the needs of large enterprises, as identified in the course of the programme.
The activity aimed at persons below 35, who have an idea for an innovative product or service and would like to start their business adventure in Eastern Poland. They may use support provide by the Start-up Platforms – Hub of Talents, Connect or TechnoparkBiznesHub which will help start-ups create a product or service based on a developed and verified, in market terms, business model. After obtaining a positive evaluation of the business idea and qualifying for the programme of the selected Start-up Platform, a designated supervisor will prepare a detailed plan of incubation.
Development of start-ups in Eastern Poland
Companies, which managed to use support of the Start-up Platform and successfully completed the process of incubation, may apply for co-financing for the initial activity of their business. The project should cover placing a product on the market (the first sale) and implementing the business model developed under the Start-up Platform. The co-financing may be allocated for covering the costs associated with the implementation of innovation and the development of economic activity.