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Start! Eco-business for EU funds
Planning a sustainable energy start-up? You may apply for the support of KIC InnoEnergy, which provides access to finance, buyers, technologies and know-how.
Konrad Frontczak, KIC Regional Representative in the West Pomerania Region
/fot.: press materials /
KIC InnoEnergy is an EC agenda fostering innovation, entrepreneurship and education in the sustainable energy industry (from IT to energy generation). KIC’s partners include leading Polish and European energy businesses, academics and research institutes. The organization associates 150 entities bringing innovative ideas, patents and products to life.
‘Support offered by KIC InnoEnergy covers the entire start-up creation process – from the organization of activities to management, financing individual process stages, company development and assistance in obtaining external financing such as Venture Fund,’ explains Konrad Frontczak, KIC Regional Representative in the West Pomerania Region. Funds distributed by KIC are provided by the European Institute of Innovation and Technology (EIT).
Existing and future companies may select the following paths: KIC InnoEnergy Highway (Business Creation) and Innovation Projects.
KIC InnoEnergy Highway (Business Creation)
The program consists in investing in start-up ideas and their further development. Applications may be filed during the entire year.
The program covers pre-financing, which includes a grant up to EUR 30 thousand for technology development, EUR 20 thousand for costs of personnel and EUR 15-18 thousand mark-up for the author or the idea. The entire support may reach EUR 150 thousand in the 2-year period.
At the commercialization stage during the first 12 months the venture will have access to legal and financial advisory services, office space and KIC partners. Start-ups may also use up to EUR 12 thousand from the KIC Investment Fund or up to EUR 500 thousand of additional support for technology development (in which case a consortium with at least two partners is required).
– In fact KIC financing are flexible and tailored to individual needs; if it exceeds EUR 500 thousand, KIC has access to 12 Venture Funds which do not impose any restrictions. The idea is the most important for us,' Frontczak emphasises.
‘KIC usually takes 10-15 percent of shares in the entity. When it brings profit, KIC will receive 3 percent of the revenue. If higher expenditures are invested in the business development KIC takes additional shares, but not to exceed the total of 20 percent,' adds Konrad Frontczak.
Importantly, KIC may also finance the development of operating businesses. Such entities may obtain financing tailored to individual products or services.
Innovation Projects
The program objective is to stimulate development of new product/service ideas worldwide. Technology development costs are financed by KIC in the consortium project model (from 3 to 7 EU institutions/firms; KIC also helps find appropriate partners) and may reach up to EUR 1.5 million p.a. in the period of 2-5 years of project performance.
Projects selected in the competition are admitted to the program. The next round is planned in autumn and the following one - in February 2016.
In the last three years KIC InnoEnergy managed to support 8 start-ups and 15 innovation projects in Poland. Successful projects include companies such as Enetech (energy audits, photovoltaics, heat recovery) or VIS Energia (designing and implementing integrated systems for monitoring and managing wind farms).
For more information, please visit: kic-innoenergy.com
KIC Regional Representative in the West Pomerania Region: Konrad Frontczak, phone 505 066 276
AK
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