Are you embarking on your entrepreneurial career and creating your own start-up? You're at the start of a wonderful adventure!
You may be bursting with energy to develop your project, but your cash flow may be limited. You may be eligible for a number of grants, notably from BPI France, to help you develop your business with greater peace of mind.
Start-ups: how can BPI France help you?
Yes, you can get help from BPI France, but what is this structure and how does it work?
BPI France is a public investment bank whose main mission is to develop and support the growth of small, medium-sized and innovative companies. It is characterized as a financing vehicle of the French government, and was born of the merger of several French organizations.
BPI: a player that supports innovation
It does not act as a banking institution, as it is not licensed to do so, but as a financial company whose main resource is the financial markets.
As an investment bank, its role is to provide financial support to companies by contributing capital, or to support companies by guaranteeing the financial loans they may take out.
In addition to small and medium-sized enterprises, BPI France also offers support for start-ups. In this sense, you can be supported in your development by BPI France, which aims to be a true vector for the development of the entrepreneurial fabric and innovation in France.
The support offered to start-ups is characterized in different ways and follows the logical evolution of these innovation players.
i-Lab
First and foremost, BPI France offers i-Lab. This is a support program for innovative start-ups, which can qualify by being :
- Winners of "emerging" projects in the 2014 and 2015 competitions
- Recipients of a French Tech "emergence" grant
- Winners of the 2014, 2015 or 2016 PEPITE - Tremplin pour l'Entrepreneuriat Étudiant awards
Eligibility entitles the company to a €450,000 grant.
French Tech grant
The French Tech Grant is intended for project leaders who are supported by gas pedals, as well as start-ups less than a year old. It is available to entrepreneurs in all fields of activity.
The French Tech grant is provided in the form of subsidies that can cover up to 70% of eligible expenses, up to a maximum of €30,000. If the start-up qualifies as an "emerging" French Tech, the grant can be up to €45,000.
The expenses concerned can be those directly linked to project conception, definition and feasibility studies (external support or study costs, training, project owner's own costs, internal personnel costs, etc.).
Seed loan
The loan is intended for small innovative companies under 5 years of age that are in the seed phase and have already benefited from public support.
The purpose of this loan is to strengthen the company's cash position and create the right conditions to prepare for fund-raising. This assistance enables the project owner to complete the innovative project, while at the same time allowing an investor to join the company.
Depending on the conditions, the loan can be between €50,000 and €100,000, or even €300,000 if the company has a guarantee commitment from the Region.
Seed loan Investment
This loan is aimed primarily at companies less than 8 years old, and which have successfully raised a minimum of €200,000.
The seed investment loan is designed to strengthen the cash position of a company that has just successfully raised funds. The aim is to support the company's development and growth with a complementary loan.
The amount of the loan ranges from €100,000 to €500,000, depending on the company and the terms of the fundraising.
Innovation Advance
This aid comes at another, more advanced stage of the company's maturity, and is eligible for SMEs with fewer than 2,000 employees.
The aim of this aid is to support the company in developing and implementing an innovation. BPI France offers a repayable advance in the event of success, or a zero-interest loan for innovation. The rate of assistance can cover from 25% to 65% of the eligible expenses.
As you've seen, as a project owner, you have the opportunity to get help and considerable financial support at every stage of your development. However, the question that comes to mind is: how do I get this support and how do I apply?
Different players to support you
As a project owner and business creator, you're bound to have developed a relationship with your banker. Your banker can be a valuable partner in guiding you towards BPI France's range of services, and can even help you apply for assistance from this institution. To this end, you can contact your banker directly to discuss the various forms of assistance available to you, and to prepare your application.
You can also contact BPI France directly via the website, where you'll find a list of contacts according to your region. From then on, you'll have access to personalized support tailored to your project, and will be able to put together your own application for funding.
Finally, as an entrepreneur in an innovative company, you have access to a wide range of assistance depending on the maturity of your project. BPI France can provide a wide range of assistance, from grants to loans and scholarships.
To qualify for these various forms of support, you'll need to prove that your project is innovative and adds value to the economic fabric.
Develop successfully
BPI France is a veritable vector of financing, aiming to revitalize the French innovation landscape by supporting innovative companies. So, if you're a project initiator, take advantage of these grants to help you develop your business successfully. And don't forget to consider domiciling your business with a domiciliation company, so that you can concentrate on your development while benefiting from a strategic address, advantageous rates and virtual office services.
