The innovation finance support services are the main response of ENTRANCE to lower the barriers for access to finance of innovators and uptake companies. This key enabler is directly linked to the finance vertex of the ENTRANCE concept triangle. The concept behind this service is based on three main principles:
- All ARRIVAL platform users receive support in financing opportunities through the individual and automatic matchmaking process of the ARRIVAL platform. This includes public and private finance programmes as well as standard blended finance models for public/private/alternative funding specifically prepared for the transport sector.
- The ENTRANCE secretariat offers advice on the suitability of European public funding opportunities to platform users. This service includes the identification of funding programmes but not the preparation of the application as such.
- Before each of the ENTRANCE events, an ENTRANCE Open Competition will be arranged to select 8-10 innovative zero-emission transport solution providers. All finalists of the ENTRANCE Open Competition will receive personalised funding advice from the heart of the ENTRANCE ecosystem. Our experts will guide you through the funding landscape, help you with identifying potential funding opportunities, and potentially connect you with suitable partners. This covers public and private funding including innovative financing models such as crowdfunding. Once you are a finalist our team will get in touch with you. You will be assigned a personal consultant who has read the information you have shared. The consultant, together with the ENTRANCE secretariat, will help you explore alternative public and private funding sources and models. This process has three basic steps:
- Inspire. The consultant will demonstrate the alternative finance landscape and how different forms of funding sources and models can connect.
- Guide. Based on your (funding) needs the consultant will help you create an overview of the combination of funding sources and models that make sense.
- Connect and match. If possible, the consultant will introduce you to people and organizations that can potentially help you to make the funding happen.
In case you already have clarity on where the funding should come from you can choose our guidance package. In this case, the consultant will meet with you frequently during a pre-determined period. From the first encounter onwards, you decide how the ENTRANCE team can be most helpful for your funding journey.
The open call for interest for this competition will be launched 3 months before each event and the solution providers will have one month to submit their application. Subsequently, a transparent and fair selection process will take place to select the winners of the competition considering the business case, financial aspects, and technical solution aspects of the solutions. This process will be carried out by a mixed selection committee that will consist of representatives from the Advisory Board as well as project partners.
Use our first open competition document as an orientation to read about participation, prizes, evaluation criteria, and more here. Please sign up on the ARRIVAL to view these documents.
