SMEs face a number of challenges, including limited awareness of funding possibilities. This is due to fragmented information on funding as well as the complexity of accessing and combining different financing sources. At the same time, SMEs, and especially start-up lack knowledge, good examples, and access to a network to produce sufficient investment proposal and securing financing for their business.
How can DIH help?
DIHs can assist SMEs in accessing finance through their brokerage services, such as
- Providing overview and link to parties of finance possibilities, including accelerators, incubators, and important platforms
- Creating/organising events and matchmaking, links to other events
- Business advice and support
Company Life Cycle and funding sources:
The lifecycle of SMEs comprises of different phases, each with its own characteristics and specific needs. To understand the financial needs of SMEs therefore, Digital Innovation Hubs should understand each phase of this lifecycle. A better understanding of the position of the enterprise in these phases gives a better insight in the steps necessary to gain access to finance as well as the insight where to go (which party).