What did I do wrong on those occasions? Sometimes I did not choose the right fund for my project and other times I was not concise when explaining the history of my venture. From that experience, but also considering what I learned as a formulator and evaluator, I have learned a lot about the dynamics of writing projects and through this brief guide I want to share with you some tips that were very useful to me.
First of all, it is important to understand what Competitive Funds are. These are resources that the government or other public or private entities make available to entrepreneurs and organizations so that they can carry out their projects.
Unlike bank loans, Competitive Funds do not need to be repaid, as long as the goals and objectives taiwan number example established in the project are met. However, most of them provide a percentage of the financing and the entrepreneur must commit to supplementing the investment.
Now, to the point: here are some aspects that we must take into account to win competitive funds and not die trying:
Understand the focus of the Fund's offerer: each organization will have a specific interest. On the websites of each institution you can find their strategic axes, so that you do not waste time applying for financing that has nothing to do with your business. For example: FOSIS will seek a social focus and FIA will only give its resources to those who propose agricultural innovation projects.
Read the terms and conditions very carefully: it sounds obvious, but my experience tells me that it isn't. All funds have specifications: some are aimed only at women, others are for certain regions. Check VERY carefully that your business fits what they are looking for.
Answer EXACTLY what they ask: each evaluator is faced with hundreds of projects. If you go on too long in describing your project, chances are that even if it is the best, it will not be considered. Be concise.
Convince the evaluator: Your project must reflect that you know the business inside and out. It must be clear that your project is safe and that financing will allow it to grow and continue to advance.
By following these steps you will be much closer to getting a boost for your business!
Sources of financing
The variety of financing is very wide: there are national and international options, for traditional businesses and for Start Ups, the important thing is that you identify very well what is the focus and objective of your business , so that you choose well the calls that fit your needs.
All Chilean Government Funds that have open applications are published at https://fondos.gob.cl/buscador/abierto/ . Check it regularly to find those that are related to your venture.