What a great fuck up story! When you can reflect on your startup failure with such positivity and such insights you have succeeded nevertheless. ? Link to article in bio #entrepreneurship #fuckupstory #startup https://t.co/oJUguwxNvq
The force is with us! ROM Utrecht Region has entered the building. Here’s what they can do for you!
The freshly established ROM Utrecht Region presented their goals and new funds at CrossRoads 2020 and it is a promising new opportunity for any kind of ambitious startup founder in the Utrecht region. The ROM is aiming to contribute and strengthen the ecosystem in Utrecht region (province of Utrecht and Gooi- & Vechtstreek) by actively helping startups, scaleups and innovative SME’s with advising, networking and resources. A lot can be said about the promising added value of the expert advice and government-related networking capabilities, but we will focus this blog on the financial resources they want to contribute. The resources can be divided into two funds, the Proof Of Concept fund (POC fonds) and the Participation fund (Participatiefonds).
The Proof Of Concept Fund
The Proof Of Concept fund is intended for startups or scaleups that are in the TRL 4, 5 or 6. Not familiar yet with TRL? Google: Technology Readiness Level, European Commission. On top of TRL your startup should be working on an innovative product or service in the field of Health, Digital or Sustainability with a positive impact on the region. The ticket sizes are starting from €50.000 up to €250.000 and are positioned as a loan/convertible loan. You are allowed to use a part of the ticket for commercial purposes but it should be mostly intended for research and development purposes. Or in other words, anything that gets you to TRL level 7, 8 or 9. When handing in your business plan to apply for a ticket, a minimum of 25% of the financing round should come from a private investment (e.g. angels, informals, VC’s or loans). Be aware that the lead time for applying for a fund ticket and getting the loan is about three to four months – but since they are just starting, prepare for a six to nine months period.
The Participation Fund
The Participation fund aims to support startups, scaleups and innovative SME’s that are in TRL 7, 8 or 9. With ticket sizes starting at €250.000 up to €1.250.000 (equity or (convertible) loan), it clearly chips in at a higher level and comes with a different set of criteria. The ROM Utrecht Region will only participate as a co-investor, 65% of the financing round must come from private investors. At all times the ROM aims to be a minority shareholder for a minimum of 5% up to a maximum of 49% after the transaction has taken place. The ROM Participation fund will only invest in scalable innovations related to their three interest fields: Health, Digital and Sustainability (hint: they are very similar to our interest fields at UtrechtInc). The result of the investment should also create a positive impact for the Utrecht Region and is specifically not intended for (international) corporates or corporate spin offs in which the corporate has a majority interest. The lead time for applying for a fund ticket and getting the funding is about six to nine months. Currently, the lead time can be a bit longer due to the start-up phase of the ROM itself.
Want To Apply?
Interested to apply to one of their funds directly? Mail them at Info@romregioutrecht.nl. Attach your pitch deck, which at a minimum covers: What is the problem? What are the opportunities and solutions? Who is the customer, how will you reach them? How big is the market? And what is the pricing model of the product or service? And last but not least, who is behind your great venture? Show them your team. They can use this to get the first impression of the proposition and your team and take the relationship from there. In the case that they can’t help you, they are more than likely to refer you to an organization who could. Goodluck!
?Giveaway time! ? There are a few books that every first-time founder should read and this is one of them; The Mom Test: How to talk to customers & learn if your business is a good idea when everyone is lying to you. Do you want to win one? Leave in the comments why! https://t.co/UL4gggiejF
The results are in! We proudly present our latest infographic ?. These numbers would not have been there if it was not for the great startup ecosystem that we have created together with our partners. Will your startup be part of next year's results? #jobcreation #startups https://t.co/R6NnJ6x0dY
Accelerate your (health)tech startup! Join us on April 28 for the combined info session of https://t.co/SMa4GtV842 and a Medtech Meeting by MedtechPartners hosted by yours truly. Find the link to sign up and more info in our bio. #networking #medtechstartups #entrepreneurship https://t.co/r21M4Q5mcQ
Hey phd/post-doc researcher! Looking for validation in the market? Apply for our part-time research validation program before the deadline of January 31st. Click here for more info and how to sign up: https://t.co/bLxSN4E8Ph #sciencevalidation #sciencestartup #startupprogram https://t.co/8OPzWEJ7Ao
Marc van Moorsel, COO of our graduate TargED Biopharmaceuticals who are on track to develop a groundbreaking drug that dissolves blood clots, talks about their startup journey and how they secured the Take-off subsidy Read more here (in Dutch): https://t.co/hzZQMnHajf #biopharma https://t.co/5EEutT0pJQ
UtrechtInc is immediately looking for a Startup Scout who will be responsible for finding and attracting the best tech startups for the UtrechtInc programs. Does this sound like you? Find out more and apply now!: https://t.co/vnJ0DWMcTV #vacaturealert #startup #entrepreunerial https://t.co/vdnsuhZF6d