“Money is like oxygen to a business; without it, it simply cannot survive.” – Sir Richard Branson
What is funding?
Funding refers to the financial support or capital provided to startups or businesses so that businesses can grow and achieve their goals. It can come from various sources such as investors, venture capital firms, government grants, or even personal savings. Startups often need funding for several reasons:
- Launching and Development: Startups require capital to turn their ideas into reality. This includes developing prototypes, conducting market research, building a team, and refining their products or services.
- Expansion to Scale-up: Once a startup has established its initial presence, funding becomes crucial for scaling up operations, entering new markets, or expanding the customer base. This often requires significant investments in marketing, infrastructure, and hiring additional staff.
- Research and Innovation: Many startups operate in industries that require continuous research and development. Funding enables them to invest in innovation, explore new technologies, and stay competitive in the market.
- Attracting Talent: Startups need to attract skilled professionals and experts to fuel their growth. Funding allows them to offer competitive salaries, benefits, and stock options, making them more attractive to top talent.
How can Erasmus Enterprise help you?
- Access to Regional Investment Funds: Erasmus Enterprise collaborates with regional investment funds, such as UNIIQ, to provide startups with potential investment opportunities. Through this partnership, startups within the Erasmus Enterprise community can pitch their ideas and business plans to these funds, increasing their chances of receiving financial support
- Alumni Investors Network: Erasmus Enterprise actively engages with its network of alumni investors who have a vested interest in supporting entrepreneurial ventures. By connecting startups with alumni investors, Erasmus Enterprise creates opportunities for funding and mentorship. These investors can provide capital, industry expertise, and valuable connections to help startups grow.
- Graduate Entrepreneur Fund: Erasmus Enterprise extends its investment network to all members of its community through the Graduate Entrepreneur Fund. This fund offers financial support specifically targeted at entrepreneurial ventures initiated by graduates of Erasmus University Rotterdam. Startups founded by Erasmus alumni can access this fund to secure funding for their businesses.
- Erasmus University Challenge: The Erasmus University Challenge is an initiative that aims to support and fund students and entrepreneurs through a competition-style program. Participants pitch their innovative ideas or startups to a panel of judges, with funding prizes awarded to the winners. This financial support enables them to further develop their projects or businesses, providing participants with exposure to a widen their networks, helping them foster connections. Within this network, investors may offer funding, mentorship, and other forms of support like guidance and this guidance boosts participants’ chances of attracting funding, not only within the competition but also in the broader entrepreneurial ecosystem. Hence, by being part of Erasmus University Challenge, participants gain validation, visibility, and a platform to showcase their ideas or startups to a broader audience of industry professionals and the academic community.Find out more about Erasmus Enterprise by following our social media and stay up to date with upcoming events.