EIT Food knows that the legal and financial challenges of startup life can be very challenging. In fact, recent statistics demonstrate that a failure to manage finances well and address legal issues are responsible for around half of all startup failures.
To help brilliant agrifood startups avoid these difficulties, EIT Food offers up to 1500 Euros to early stage entrepreneurs to help with specific legal and accounting challenges. These funds are only available to startups in Southern and Eastern Europe, a full list of eligible countries is available here.
If you are interested in accessing this support, all you need to do is complete this application form.
Full details on the Legal and Accounting Support, can be read here.
What is the process to receive the financial / accounting support?
Firstly, you will need to complete the online form providing information on your startup and needs. Secondly, as part of the application process you need to provide three quotes from local legal or accounting providers. We do this to make sure you are getting good value for money. Finally, if you are accepted by EIT Food to receive the support, you will have to sign a grant agreement and deliver a proof of actual incurred costs which will be reimbursed.
How long does it take to receive the legal / accounting grant?
The application to receive the legal and accounting support is open throughout the year. You can apply whenever you want. The EIT Food team will read the applications at the end of January, March, May, July, September and November each year. If you are selected to receive the legal/financial support and sign a grant agreement, you will be reimbursed within 15 to 30 days based on the actual costs you have incurred and the details of the grant agreement.
Why is it open only to startups in Southern and Eastern Europe?
This particular startup support programme is funded by the Regional Innovation Scheme (RIS). This Scheme is designed to support startups from areas in Europe who typically have less access to support for entrepreneurial and innovative programmes.
Who can apply?
The legal and accounting support is designed for early stage startups and entrepreneurs who cannot afford to pay for such services themselves. Please do not apply for these grants if you can pay for these services with your own revenue or investment. The grants can be paid to individuals or legally-registered companies.
What is the maximum amount of funding I can receive?
The maximum amount of the legal/accounting support grant is 1500 per startup / entrepreneur. You will only be able to access the support once.
Any more questions?
Feel free to send an email to firstname.lastname@example.org.