How startups and highly innovative companies can exploit european funding
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Transcript of How startups and highly innovative companies can exploit european funding
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©NikolaosFloratos,Fundingexpert.academy
WhyyoucannotaffordtofailinEUgrantmechanismsforSMEsandstartups
NikolaosFLORATOS,Founder
hFp://www.keyinnovaKons.co.uk
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©NikolaosFloratos,Fundingexpert.academy
Copyright©NikolaosFloratos,www.fundingexpert.academy
Allrightsreserved.Nopartofthisworkbookmaybereproduced,distributed,ortransmiFedinanyformorbyanymeans,includingphotocopying,recording,orotherelectronicormechanicalmethods,withoutthepriorwriFenpermissionofthepublisher,exceptinthecaseofbriefquotaKonsembodiedincriKcalreviews
andcertainothernoncommercialusespermiFedbycopyrightlaw.Forpermissionrequests,emailtothepublisherNikolaosFloratosatnf@cyberall-
access.com
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©NikolaosFloratos,Fundingexpert.academy
WhoisNikolaosFloratos• FounderofFundingExpertAcademyprogrammesthat
mastersindividualsinEUfundingprogrammesandexploitsthemostsuccessfulandlargestno.ofproposaldevelopersacrossEurope
• Ac4veineuropeanfundingindustrysince1997(19+years)
• ECexpert/evaluatorsince2003(13+years)• Authoroftheebook“LearnfromtheHorizon2020
champions”downloadablefromwww.NikolaosFloratos.com
• TrainedandcoachedhundredsofconsultantsandorganisaKonsonexploiKngsuccessfullyEUfunds
• TheonlyprofessionalinthewholeEuropewith40+recommenda4onsinmylinkedinprofile(www.linkedin.com/in/floratos)asexpertineuropeanfunds,trainer/coach
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©NikolaosFloratos,Fundingexpert.academy
EssenKalsforSMEsandstartupsfundingmechanisms
BasicConcepts
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©NikolaosFloratos,Fundingexpert.academy
FundingtosupportonlyanddirectlyinnovaKveSMEs
ProgrammeName:InnovaKonforSMEs–SMEInstrumentMainAreas:TheaimoftheSMEInstrumentistofillthegapsinfundingfortheearlystages,ResearchandInnovaKonandacceleraKngtheexploitaKonofinnovaKon.Availablebudget:€2,8billionMoreinfo:hFps://ec.europa.eu/digital-single-market/en/sme-instrument-0
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©NikolaosFloratos,Fundingexpert.academy
EuropeanFundingforenterprisesespecialySmall–Medium
ProgrammeName:COSMEMainBeneficiaries:SMEs,EnterprisesMainAreas:AcKonsthatadvanceateuropeanleveltheInnova4onandcompe44venessofSMEsMainPar4cipants:SMEsAvailablebudget:€2.22billionMoreinfo:hFps://ec.europa.eu/easme/en/cosme
ProgrammeName:EUROSTARSMainBeneficiaries:SMEs,consumers,enterprises,industryMainAreas:AcKonsthatadvanceateuropeanleveltheInnova4onandcompe44venessofSMEsMainPar4cipants:R&Dperforming(highlyinnovaKve)SMEsthatcreateimpacttotheidenKfiedbeneficiariesAvailablebudget:€1.2billionMoreinfo:hFps://www.eurostars-eureka.eu/
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©NikolaosFloratos,Fundingexpert.academy
BudgetforSMEs
COSME
Eurostars
SMEInstrument
BUDGETmainlyforSMEsandstartups
7
€6,22billion
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©NikolaosFloratos,Fundingexpert.academy
SMEinstrument
SocietalChallenges
LeadershipinEmergingandInnovaKve
Technologies
Horizon2020
2,8billion€2014-2020
€168MillionforadministraKon
2,63billion€fundingforForefrontknowhow
GrowthBeFerlifeforEUciKzens
6%
94%
€376Millionfunding
VeryconservaKveAssumpKons
ProposalDevelopmentcostaround3%of
requestedfunding
7%Successrate(~1/14)
AssumeyearlyProposal
Developmentcostaround3%of
requestedfunding
93%failedrate
(~13/14)
~11million€spentannuallyforsuccessfulproposalsoftotalbudget376million€
€154millionspentannuallyforfailedproposalsInSMEInstrument
WHYYOUCANNOTAFFORDTOFAILinEUgrantmechanismssuchasSMEinstrument!
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©NikolaosFloratos,Fundingexpert.academy
Conclusion1Amount(€)organisaKonsspentintotaleveryyearfordevelopingandparKcipaKnginproposalsthatfailtoreceivefundinginSMEinstrument:
€154Μillion
BigneedforeffecKvetraining,coachingandsupport!
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©NikolaosFloratos,Fundingexpert.academy
SMEinstrument
Country…
Country2
Country1
1,2billion€2014-2020
€72MillionforadministraKon
1,13billion€fundingforForefrontknowhow
GrowthBeFerlifeforEUciKzens
6%
94%
€161Millionfunding
VeryconservaKveAssumpKons
ProposalDevelopmentcostaround3%of
requestedfunding
25%Successrate(~1/4)
AssumeyearlyProposal
Developmentcostaround3%of
requestedfunding
75%failedrate
(~3/4)
~4,83million€spentannuallyforsuccessfulproposalsoftotalbudget161million€
€14,5millionspentannuallyforfailedproposalsInEurostarsprogramme10
EUREKA/EUROSTARSProgrammeandwhyyoucannotaffordtofail
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Conclusion2SMEsshouldfocusalsoinotherrelatedfundingopportuniKesforsupporKngthedeploymentoftheirinnovaKveproductssuchasEurostarsthatsuccessrateisquiteaFracKve
25%successrate*
*Source:ExecuKveAgencyforSMEshFps://ec.europa.eu/easme/en/small-companies-applying-eurostars-grants-have-25-success-rate
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©NikolaosFloratos,Fundingexpert.academy
FundamentalsinfundingforSMEs
WhyEuropeanFunding(itspurpose)–ThreePrioriKes• Createforefront(newanduseful)knowledgeinEurope(e.g.seeallthreepillarsinHorizon2020)
• AdvanceGrowth(e.g.see2ndpillarinHorizon2020:LEIT–LeadershipinEmergingandIndustrialTechnologies)
• ImproveQualityoflifeofEuropeanCiKzens(e.g.see3rdPillarinHorizon2020–SocietalChallenges)
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©NikolaosFloratos,Fundingexpert.academy
ValleyofDeath
ValleyofDeath
ProjectsforSMEs
ECFunding~70%
1.Fore-frontknowledge2.Growth&CompeKKveness3.QualityoflifeofEUCiKzensSuccessful
DisseminaKon
&ExploitaKonStrate
gy
NewrequirementforallEuropeanprogrammesincludingSMEinstrumentfortheperiod2014-2020.AconvincingDisseminaKonandExploitaKonStrategy
isrequiredwithintheproposalapplicaKon
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©NikolaosFloratos,Fundingexpert.academy
7MythsinSMEinstrument• Myth1:ItisalmostimpossibleforastartuptobesuccessfulinSME
instrument• Myth2:Itisextremelydifficulttoconvinceevaluatorsforthehighquality
ofourSMEproposal• Myth3:Aproject/productinnovaKveatanaKonallevelissuitablefor
SMEinstrument• Myth4:BeingsuccessfulinSMEinstrumentrequiresalotofKmeand
resources• Myth5:ParKcipaKnginaeuropeanprojectforSMEssuchasSME
instrument,Eurostars,COSMEmayjeopardisetheownershipofmyexpectedinnovaKons
• Myth6:PerfectcommandofEnglishisneededforagreatSMEinstrumentproposal
• Myth7:SubmitngandimplemenKnganSMEinstrumentprojectisacomplicatedprocess
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©NikolaosFloratos,Fundingexpert.academy
Myth1:ItisalmostimpossibleforastartuptobesuccessfulinSMEinstrument
• ItistruethatSMEinstrumenthasbeenmainlydevelopedforSMEs,howeverstartupsfrommanycountrieshavereceivedfinancialfundingfromSMEinstrument(SourceEASMEupdateApr16)
• Therefore,failureisnotbasedonSME/startupssizebutonthefollowing– InnovaKondisKncKonofsuggestedinnovaKon– MaturitylevelofsuggestedinnovaKon– EuropeanmarketprospectsofsuggestedinnovaKon– Startups/SME’scapacitytoadvancesuggestedinnovaKon– DisrupKonlevelofsuggestedinnovaKon(New,usefulandsavingresources)
– Lackofsupport(coaching,training,etc)fromSMEinstrumentexperts
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Myth2:ItisextremelydifficulttoconvinceevaluatorsforthehighqualityofourSMEproposal
• Itistruethatveryfew(6%-10%)ofSMEproposalsimpresstheevaluatorsbutmainlybecausetheyfailtoprovideclearandwelljusKfiedpresentaKonofthefollowingintheirsuggestedinnovaKons:– Excellencequality:InnovaKondisKncKon,productmaturitylevel,SME’steamscapacity,marketopportuniKes,marketdisrupKon
– Impactquality:European/globalmarketposiKoning&prospects,europeanpoliciessupport,exploitaKonstrategy
– ImplementaKonquality:workplanquality,teamresources,implementaKonmethodology,riskconKngencymeasures
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Myth3:Aproject/productinnovaKveatanaKonallevelissuitableforSMEinstrument
• ItisagoodstarKngpointforinnovaKonsestablishedatnaKonalleveltoexploitSMEinstrumentbutnotenough,sincetheyshouldalso– bedisKnctateuropeanorgloballevel– addvaluetoeuropeanorglobalmarkets
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©NikolaosFloratos,Fundingexpert.academy
Myth4:BeingsuccessfulinSMEinstrumentrequiresalotofKmeandresources
• FailedproposalsinSMEinstrumentstartfromscratchduringtheproposaldevelopmentprocess
• SuccessfulproposalsinSMEinstrumenthavealreadyaclearvisionandhaveworkedtowardsthat.ThisimpliesthatpartsoftheirapplicaKonformshouldbebasedonexisKng(evendravs)of– Apreliminarymarketanalysis(marketposiKoning)– ApreliminaryinnovaKonanalysis(disKnctinnovaKons)– Apreliminaryimpactanalysis(expectedbenefits)
• TheseanalysesareessenKalnotfortheproposaldevelopmentbutalsoforself-assessingthesuccesspotenKalintheSMEinstrument
• Anyanalysisshouldbebasedonreliablesources
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©NikolaosFloratos,Fundingexpert.academy
Myth5:ParKcipaKnginSMEinstrumentmayjeopardisetheownershipofmyexpected
productsOnthecontrary,sinceSMEinstrument• requiressuccessfulapplicantstoensurethattheIntellectualPropertyRightsoftheirinnovaKonsareprotected
• financiallysupportsthecostsforpatenKngataeuropeanorgloballeveltheirinnovaKons
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©NikolaosFloratos,Fundingexpert.academy
Myth6:PerfectcommandofEnglishisneededforagreatSMEinstrumentproposalPerfectcommandofEnglishisnotneededatallbut• AlthoughproposalsunderSMEinstrumentcanbesubmiFedunderanyofficiallanguageofEuropeanUnion,Englishisstronglyrecommended
• ProposalsecKonsshouldbewellstructuredbasedonclarity,concisenessandcrediblesources
• Easytounderstandlanguageshouldalwaysbeused,sincemostoftheSMEinstrumentevaluatorsdonothaveasmothertonguetheEnglishlanguage
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©NikolaosFloratos,Fundingexpert.academy
Myth7:SubmitngandimplemenKnganSMEinstrumentprojectisacomplicated
process• SMEinstrumentproposalsshouldbesubmiFedonlinebasedonaspecificprocessbut– Althoughsubmissionprocessisstraightforward,itrequiressomepre-requisites(e.g.tohaveaPICno.,SMEstatusvalidaKon)
– AnadministraKveperson,normallyasecretarycanbeinvolvedintheproposalsubmission
• AcceptedprojectsinSMEinstrumentreceivefinancialsupportforanyspecialisedtaskssuchasinconducKngfeasibilitystudy,businessplan,marketanalysis,etc.
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©NikolaosFloratos,Fundingexpert.academy
HowcanyoubesuccessfulineuropeanfundingprogrammesforSMEs
FundingExpertTransforma4onProcessFETPTMFormula
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©NikolaosFloratos,Fundingexpert.academy
FundingExpertTransformaKonProcess
• UnderstandhowSMEinstrumentmechanismworks
• IdenKfythemostaFracKvefundingtopicsforyourneeds
Step1
• Followritualsreligiously• MasterallacKonsfrominiKaKnganaFracKveideatosuccessfulsubmission
Step2
• Preparegreatproposal• Masterhowtowriteaconvincingproposal
Step3
5Fingers’Technique
I.C.R.E.A.T.E.S.system
C.R.I.T.E.R.I.A.Formula
DailyHabits
B.U.N.D.L.E.R.Habits
FromStruggle ToSuccess
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©NikolaosFloratos,Fundingexpert.academy
The7HabitsofSMEFundingChampions
B.U.N.D.L.E.R.TMFormula
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©NikolaosFloratos,Fundingexpert.academy
B.BuildtoLast!
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©NikolaosFloratos,Fundingexpert.academy
B.BuildtoLast!
©FundingExpert.Academy
EuropeanfundedprojectsforSMEs
shallsupportthe
• missionofyourorganisaKon
• visionofyourorganisaKon• CreaKonofforefrontknow-how• Jobgrowthandcompe44veness
• IncreasethequalityoflifeofEUciKzens
• i.e.don’tfallinthe“ValleyofDeath”
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U.UpsettheStatusQuo!
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U.UpsettheStatusQuo!• YouknowtheSMARTobjecKves
• Specific
• Measurable
• Achievable/Againable• Realis4c/Relevant• Time(in)
• Theyarenotcomplete,sinceSMARTobjecKvesarenotInnova4ve!
• ThinkoutsidetheboxandbeinnovaKve
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©NikolaosFloratos,Fundingexpert.academy
N.NeverEatAlone!
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©NikolaosFloratos,Fundingexpert.academy
N.NeverEatAlone!
©FundingExpert.Academy
Threemealsinaweekday• 2mealswithfamily,friends,old
colleagues• 1mealwithnewcolleagues,
partners,clients,funders,experts,mentors,projectmanagers,etc
• i.e.260mealsinayearforsharingideas,connecKng,getngfeedback,establishingpartnerships
• Whataboutcoffee?• AFendinfodayeventsDroptherule“AskandShallReceive”andadoptthemoFo“GiveandShallReceive”
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©NikolaosFloratos,Fundingexpert.academy
D.Don’tDelayit,Delegateit!
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D.Don’tDelayit,Delegateit!
WinningSMEinstrumentProposalsrequireteamswitha1. ProposalLeader2. ProposalWri4ngTeam(in-house
teamincl.anExpertintheproposaltopic
3. Secretary4. Evaluator
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D.Don’tDelayit,Delegateit!
AProposalLeaderisresponsiblefor• Coordina4ngtheproposalwriKng
process• “Ea4ng”withexperts,funders,
potenKalsupportersandgetngfeedback
• Engagingcompetentsupporters• Coordina4ngtheallocaKonofbudget
andresources• Coopera4ngwiththesecretaryfor
theadministraKveandsubmissionprocess
• AssessingthequalityofproposalsecKonsandcontribuKonsandtakingproperacKonsforfurtherimprovements
• Coopera4ngwiththeevaluatorfortheproposalreview
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©NikolaosFloratos,Fundingexpert.academy
D.Don’tDelayit,Delegateit!
TheProposalWri4ngTeamisresponsibleforwriKngtheproposalsecKonsbasedontheC.R.I.T.E.R.I.A.formula/EvaluaKonCriteria
• Consor4um• RelevanceoftheProject• Innova4on• TranseuropeanDimension• Economic• Reputa4on• Impact• Approach
Tipno.1:DelegatedifferentsecKonstoindividualsaccordingtotheirexperKseandcompetencies
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D.Don’tDelayit,Delegateit!
“Secretary”isresponsiblefor1. Collec4ngalladministraKve
documentsfrompartnersifapplicablesuchasagreements,profiles,CVs,LeFersofsupport,NDAs,adminformsincludingPIC,etc
2. SubmijngthewholeapplicaKonincoordinaKonwiththeproposalleader
3. EnsuresthatthefocusoftheothermembersisinwriKnganexcellentproposal
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D.Don’tDelayit,Delegateit!
“Evaluator”responsibleforassessing1. theproposalidea2. Theproposalsummaryand3. Theproposalfinaldrav
FeedbackgivenshouldalwaysbecriKcalandincludesuggesKonsforfurtherimprovement.Thereisnoproposalthatisperfect
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©NikolaosFloratos,Fundingexpert.academy
L.LearnthatGoodistheEnemyofGreat
VoltaireEnlightenmentWriter
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©NikolaosFloratos,Fundingexpert.academy
L.LearnthatGoodistheEnemyofGreat 1. Buildaprofoundproposalsummary
thatengages2. Network,network,network.3. Realisethateverythingcountsbut
firstimpressioncountsmore4. PrepareanimpressiveintroducKon5. Buildtheproposalaccordingtothe
selecKonawardcriteria6. EngageanEvaluatorasexternal
reviewer7. Don’tmakecompromises!
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©NikolaosFloratos,Fundingexpert.academy
L.LearnthatGoodistheEnemyofGreat Greatproposalshaveveryfew
compromises,i.e.• Nocompromisesinthepartnership• NocompromisesinthequalityofeachproposalsecKon
• Nocompromisesbyavoidingpreparingawellstructuredsummary
• Nocompromisesingetngfeedbackbyexperts,funders,partners,clients
• …
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E.EndorseaSharpenAxe!
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E.EndorseaSharpenAxe!
©FundingExpert.Academy
Onceupona*me,averystrongwoodcu5eraskedforajobina*mbermerchantandhegotit.Thepaywasreallygoodandsowastheworkcondi*on.Forthosereasons,thewoodcu5erwasdeterminedtodohisbest.Hisbossgavehimanaxeandshowedhimtheareawherehesupposedtowork.Thefirstday,thewoodcu5erbrought18trees.“Congratula*ons,”thebosssaid.“Goonthatway!”Verymo*vatedbythebosswords,thewoodcu5ertriedharderthenextday,buthecouldonlybring15trees.Thethirddayhetriedevenharder,buthecouldonlybring10trees.DayaNerdayhewasbringinglessandlesstrees.“Imustbelosingmystrength”,thewoodcu5erthought.Hewenttothebossandapologized,sayingthathecouldnotunderstandwhatwasgoingon.“Whenwasthelast*meyousharpenedyouraxe?”thebossasked.“Sharpen?Ihadno*metosharpenmyaxe.Ihavebeenverybusytryingtocuttrees…”
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E.EndorseaSharpenAxe!
©FundingExpert.Academy
Thus,neversayforexamplethatIamaproposalwriterand• Idon’tdonetworkingwithfundersandexpertsor
• Idon’tconnectwithpotenKalpartnerssupportersor
• Idon’tneedtowriteanimpressivesummaryor
• Idon’tneedtodelegate• …
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R.RecogniseMistakesasLearningOpportuni4es!
B.U.N.D.L.E.R.
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R.RecogniseMistakesasLearningOpportuni4es!
Wearelearningfromourmistakes,therefore,• Learnfromyourmistakesbutmostimportantly
• Learnfromthemistakesofothers
B.U.N.D.L.E.R.
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FollowupAcKvityAttheendofeachdayself-checkthestatusofyourB.U.N.D.L.E.R.habits,i.e.AskyourselfthefollowingandifyouarenotsaKsfiedwithyouranswers,workharderunKlitbecomesahabit!ü Haveyoubeenbusywiththingsthataremeanttolast
today?ü Haveyouupsetthestatusquotoday?ü Haveyoueatenwithanotherpersonatyourwork
today?ü Haveyoudelegatedthingstoday?ü Haveyoupreparedsomethinggreattoday?ü HaveyoudonethingsoutsideyourdailyrouKnethat
makeyoumoreeffecKve?ü Haveyoulearnedanythingtodayfromyourmistakesor
frommistakesofothers?
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Tip!
Ul4matecheck/testques4onatopensessiononchoosingthemostsuitableproposalidea:IfIwinthelo5erytoday,willIs*llgoaheadwiththisidea
andinvestthewinningsinsteadofreques*ngfunding?
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GetConnected
• Joinmeatmylinkedinprofilewww.linkedin.com/in/floratosand/or
• atmyfacebookpagewww.facebook.com/NikolaosFloratos
• IfyouwanttoaddfurthervalueonwhatyouhavelearnedsofarandmasterindepththeFundingExpertProcessforSMEsandstartups,youcanjoinfundingexpertacademyatwww.fundingexpert.academy
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