Page 10 - IO3_Career Kit_Modules Summary_FINAL_EN

Funding opportunities

This module contains detailed information, advice, and resources on funding opportunities, key
rules for funding opportunities, reasons and sources for seeking funding, the start-up funding
process, and the details of a business offer.
More specifically, there are three basic rules of funding opportunities: a) not all businesses can be
eligible for funding, b) funding is not an indicator of success, and c) a business must be sustainable
by its own means. The reasons why an entrepreneur should seek funding are: a) to scale up a
business's operations, b) to create a competitive advantage over competitive businesses, c) to fund
short-term operating costs or working capital, and d) research and development purposes.
Regarding potential funding sources, these can be bootstrapping, participatory funding,
participating and winning start-up competitions, participation in platforms and government
programs addressing each business sector, equity investors that fund specific sectors and phases
of start-up businesses, and debt investors (i.e., banks and commercial institutions).
The funding process of a start-up business starts with the business idea and its potential, which
must be SMART (Specific, Measurable, Achievable, Achievable, Realistic and Time Frame), and
focuses on the enterprise, its business and financial model, its future potential, and the return on
investments.
Finally, advice is given on how to prepare to pitch the idea for funding to investors. The key
elements of a pitch are a presentation of a comprehensive five-year business plan, a full and
concise presentation of the business plan, an executive summary summarizing the overall business
plan, and an elevator pitch, a 5-minute oral summary of the basic business plan.

USEFUL LINKS:
https://www.entrepreneur.com/article/350208 – The Best Business Funding Options for
Immigrant and Refugee Entrepreneurs
https://startupswb.com/3-crowdfunding-campaigns-to-support-migrant-and-refugee-
entrepreneurs.html – 3 Crowdfunding Campaigns to Support Migrant and Refugee

This project has been funded with support from the European Commission. This communication reflects the views only of the author, and
the Commission cannot be held responsible for any use which may be made of the information contained therein.