As the Polish Development Fund (PFR) emphasizes, the development of startups is an integral part of building an economy based on innovation. Beginning entrepreneurs often indicate that the issue of financing is a significant barrier. The solution to this problem may be European funds.
Startups in Poland. Financing by state entities
The Polish Startups 2023 study shows that as many as 69% of respondents would expect support in the area of financing sources. And 49% of respondents indicated that the biggest barrier to the development of startups is the problem of obtaining financing in the next stages of development. It turns out that state entities that have EU funds at their disposal play a key role in supporting startups. Last year, 23% of startups used financing from the National Center for Research and Development, 16% from PARP, and 8% from PFR.
– As part of PARP's current activities supporting startups, almost 3,000 agreements have been concluded with a total value of over PLN 2 billion. These funds came from the following Programs: Innovative Economy (POIG), Eastern Poland (POPW) and Smart Growth (POIR) – said Marcin Seniuk, Department of Startup Development at PARP. The latest information on accepting applications for startup funding by PARP can be found HERE.
At the end of June, PFR informed that the newly elected Launch Platforms are recruiting for originators interested in creating groundbreaking products. People who want to develop an innovative idea into a profitable product in cooperation with experts and business mentors and are ready to start a business in Eastern Poland (i.e. Warmia-Masuria, Podlaskie, Lublin, Świętokrzyskie, Podkarpackie – and what is new in this edition – also the regional part of the Mazovian Voivodeship – excluding Warsaw and 9 surrounding counties) can apply to one of the six Startup Platforms:
Selected Startup Platforms received almost PLN 133 million for the implementation of their programs. The program provides free basic services (access to office space, legal and accounting services, tax advice, marketing services) and specialist services related to product development and business model verification. “Selected startups can also count on support in the form of a grant. After completing the incubation program, the best startups can apply for non-refundable funding of up to PLN 600,000 for the development of their business,” we read.
Realize your innovative idea
One of the platforms that future startupers (or those who want to develop their company) should be interested in is HugeTECH Revolution. The project is a kind of incubator for people who have innovative ideas but do not know how to start their adventure with business. Thanks to participation in the program, it is possible to obtain support from professional experts, help in preparing to create an MVP, and a financial grant for a better start. Recruitment for the second round of incubation is currently underway. The application can be submitted HERE.
A sea of possibilities with FENG
Financial support for startups can also be obtained from the FENG program, or European Funds for Modern Economy. It is aimed at entrepreneurs and scientists, among others.
On FENG SITE you can find all currently conducted recruitments. For example, as part of the Startup Booster Poland offer, you can get as much as PLN 400,000 in support. The money can be spent, among other things, on the salaries of startup employees participating in the implementation of an individual acceleration plan, including people involved under civil law contracts, the purchase of services necessary to achieve acceleration milestones or the purchase of fixed assets. More on this topic HERE.
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The material is part of the project “Unia Stories – 20 years of Poland in the European Union. People, opportunities, perspectives”, co-financed by the Ministry of Funds and Regional Policy from the Regional Development Fund.