Foodtech Grants in Europe
Who said there ain't no free lunch for EU food innovators?
There is a lot of discussion about the foodtech market cooling down after the frenzy of burning-hot deals and surreal valuations. For early-stage ventures with little proven traction, uncertain returns, and long payback timeframes, fundraising in the current economic context can feel daunting. If only founders could get some “free” money. Well, actually they may: there are a number of grants and prizes available for foodtech companies, especially in Europe.
The fact that founders can apply for grants, does not necessarily imply that they should. Money can be equity-free but will hardly fall from the tree. At the very least, it takes time and effort to prepare a winning application. Hence, for companies that have solid corporate partnerships and other sources of money (e.g. product revenue), the effort to apply for a few extra euros and the time to join program activities may be of little value. The same is true for companies that are still too early to capitalize on the media exposure or the network provided by these opportunities.
Grant applications are NOT recommended for every company and should never come at the expense of your strategic business priorities. Below are some tips to get the best out of Free Money opportunities and a list of grants and prizes available for foodtech founders.
🎯 Have a clear GOAL
Always focus on your business priorities and do not walk away from your business strategy for the possibility of a grant. Consider what each grant opportunity offers as potential upsides (network, money, exposure) and what (if any) are the strings attached.
🕟 Have the right TIMING
When evaluating the upsides, take into account whether the timing to capitalize on them is adequate for your business. Access to key industry players and press can be very helpful IF startups are ready to capitalize on them. When grants are associated with program activities, attendance and active participation are also important as they reflect on the company’s reputation. Not everyone in the team should be involved all the time, but it is important to ensure decision-makers attend relevant sessions and bring real specific challenges to orient the session to actual business needs.
👉🏽 Application CHECK-LIST
If applying for grants makes sense to your business, make sure you:
- Meet all eligibility criteria
- Attend events to learn all details
- Write a high-quality application & frame a compelling story
- Ask people to read your document
- Review before submitting
💸 Opportunities
This is meant as a useful starting point for foodtech founders and not as an extensive list.
💛 Contribute
Know of another opportunity we should add? Please let us know by sending an email to anna@trellisroad.com or simply filling out the form below :)
