The innovation finance support services are the main response of ENTRANCE to lower the barriers for access to finance of innovators and uptake companies. This key enabler is directly linked to the finance vertex of the ENTRANCE concept triangle. The concept behind this service is based on three main principles:
- All ENTRANCE platform users receives support in financing opportunities through the individual and automatic matchmaking process of the ENTRANCE platform. This includes public and private finance programmes as well as standard blended finance models for public/private/alternative funding specifically prepared for the transport sector.
- The ENTRANCE secretariat offers advice on the suitability of European public funding opportunities to platform users. This service includes the identification of funding programmes but not the preparation of the application as such.
- Before each of the ENTRANCE events, an ENTRANCE Open Competition will be arranged to select 8-10 innovative zero emission transport solution providers. The solution providers selected through the ENTRANCE Open Competitions receives as award personalised funding advise and support in the complete application process. The funding will combine public funding, private investment opportunities and the best mix of alternative finance models for each solution provider, including potential platforms and financiers to use. With this hands-on support they can select the best blended financing mix. ENTRANCE will evaluate online alternative financing mechanisms, including crowdfunding, invoice trading, impact bonds, mini-bonds, online SME exchanges and funding through tokenised assets such as Security Token Offerings to provide state-of-the-art innovative online financing solutions.
The open call for interest for this competition will be launched 3 months before each event and the solution providers will have one month to submit their application. Subsequently, a transparent and fair selection process will take place to select the winners of the competition considering the business case, financial aspects, and the technical solution aspects of the solutions. This process will be carried out by a mixed selection committee that will consist of representatives from the Advisory Board as well as project partners.