EU funding for start-ups and Co.
In their search for investment, young digital health startups must not only rely on their network capabilities, which they usually build and expand on digital health conferences such as the DxPx, which specializes in effective partnering, MeetUps, Makerspaces, FabLabs or in locations selected for their specific industry, such as co-working spaces, cafes or bars. It is also worth taking a look at funding through consortia. Basically, there are two different funding instruments: Direct Grants (Calls for Proposals) and Joint Actions (Procurement). The former go directly to the company being promoted as a project grant, while the latter represent co-financing with member state authorities, i.e. the procurement measures for the promotion are provided by at least two public clients and awarded as service contracts. A good example of an EU funding programme is Horizon 2020, which provides funding for innovative and economically sound ideas. The Horizon funding directive has been in existence since 2014 and is the central EU funding programme for research and innovation with a total funding volume of almost 80 billion euros. The focus is on social challenges and Europe's economic competitiveness. Horizon 2020 has 24 different categories. The range of topics and the budget make the success seem almost tangible, but the challenge of the application, which takes an enormous amount of time and effort to prepare, as well as the competition for approval, are enormous. In addition, the demands of the calls are complex and must be addressed very specifically. Partnership-based cooperation with, for example, universities and research institutions or other LifeScience companies not only makes sense, but is usually also mandatory in order to come closer to achieving one's own goals. However, many interested parties fail to find a partner or write an application. If, on the other hand, it is possible to jointly set up such a project and, at best, receive funding for several years, then the Participant Portal, the virtual project platform, will be the place to go not only for the submission of the application but to the completion of the project.