Incentives for innovative start-ups

Code of product
Incentives for innovative start-ups /P2/

The purpose of the product
The purpose of the product is to promote the establishment and start-up of enterprises in the first development phase, as well as:

a successful transfer of development ideas of entrepreneurial individuals and groups into market-oriented undertakings,
to create new innovation-oriented enterprises with high growth potential with focus on the development and commercialization of products, processes and services.
with implementation of “SEF TWIN” the eligible enterprises can also participate in a substantive support programme that is adapted to the needs of enterprises. This coaching programme provides these enterprises with additional training in various fields of business (e.g. marketing, organization, design etc.) and also consequently increases the effectiveness of their own investment.

Final recipients
newly established enterprises (start-up enterprises, younger than 14 months)

Benefits for the final recipients
The incentive received from the Fund provides the emerging enterprises, that do not have adequate available funds, with:

faster and more intensive development of the project,
improvement of the financial situation,
first penetration on the market.

Intermediaries between the Fund and the final recipients
The Fund carries out the product directly, so there are no intermediaries.

Eligible costs

costs of tangible investments,
costs of intangible investments,
costs of financing working capital.

Acquisition procedure
Young enterprise that meets the conditions indicated in the public tender applies to the public tender. In the case of positive evaluation the Fund grants the company an incentive to start a business.

Evaluation criteria

All formally completed applications, which meet the conditions for applying and comply with the purpose of the public tender, are evaluated by a commission for the allocation of funds on the basis of qualitative and / or quantitative assessment. Based on this assessment the application receives a positive or negative opinion. The commission for the allocation of funds submits a proposal to the management board of the SEF for all valid and relevant legal formal applications with the acquired positive as well as negative opinion. The Management of the SEF takes a final decision with a written decision to grant or a written decision to not grant the application. Precise criteria with a scoreboard are an integral part of the tender documentation.

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