Finodex is a great opportunity to get funded with up to 170.000 EUR and I would really recommend you to apply if you fit the criteria.
Yes it is an EU-Commission initiative that might scare some entrepreneurs away but I really think that this is a great new innovative direction that the EU-Commission has taken and why we are involved.
The program is focusing on grants with a direct purpose to create new companies and innovation in Europe and without any demands of research related deliveries as it often is with the EU-Commission. It is money for innovation and for creating business in Europe only. It is money for you and your idea and you don't have to give any equity away. Something I know, being an entrepreneur my self, is very unique.
But lets go back to the two criteria which are as following:
- You have to implement open data sets to support your product or service.
- You have to implement one or two "generic enablers" from the FIWARE catalog in your IT-Architecture.
The application deadline for the 2nd and final call is the 17th of June. In the first call there was 196 proposals in total and 49 projects was selected to receive funding and support.
The ideas from the first call has been been very diverse ranging from health, finance, social media, e-commerce, weather and the list goes on. Personally I was amazed by the big diversity and I think it really showed the value that open data sets can give to an existing idea or as a foundation for new concept.
The program is divided into 4 phases where different amounts of money are given for each phase. The numbers from the bottom of the figure represents how many applicants will make it to the following phase (the model is to be found in the bottom of the this article). That means that a pool of applicant will be cut in every phase .
We are three persons from IoTPeople involved in this great initiative but If you find this interesting please feel free to contact me. I am specific assisting applicants from the Nordic and Central Europe about questions related to the program only. I can not write your application with you.
I would recommend that you sign up for a pre-proposal right now if you are interested and think you or your Startup could fit the criteria. When doing so you will be in the system and we can help you finish the final application. You can find all the information you need on the Finodex website or on our own subpage.