One of our most popular client services is our funding menu. Clients come to us seeking funding and our team interviews the clients, then curates a menu of specialized funding opportunities that suit their needs. While the menus are unanimously successful and clients nearly always express that they received more than they anticipated, the process is much more successful when the client comes to us with a complete checklist of information to help us identify funding that meets their needs.
Add keywords to your checklist
It is very important that companies understand industry keywords and which pertain to their business. For best results, keywords should be broad. Think Healthcare, Technology, Agriculture, Energy, and other general industry overview terms. Adding these to your checklist will be helpful in identifying opportunities that set specific industry requirements as to the eligibility criteria for funding. Once these keywords have been narrowed down businesses can list more specific keywords such as Cyber Security, Medical Devices, Antenna Technology, and others. With a collection of both broad and narrowly focused keywords, it is easier to identify if a business meets the eligibility criteria of a funding opportunity.
NAICS codes are a 6-digit standard used by government agencies to classify business establishments for the collection, tabulation, presentation, and analysis of statistical data associated with the U.S. economy. NAICS codes are grouped by industry based on the processes used to produce goods and services. NAICS Codes are an important part of the client checklist for anyone interested in government funding at a local, state, or federal level.
Set aside credentials
Many funding opportunities are geared specifically for or feature set-asides for certain credentials such as women-owned businesses, historically socioeconomically disadvantaged areas, minority business owners, or other historically underrepresented founders. Clients should include these credentials on their checklist. The answer may vary based on the opportunity. For example, some opportunities define a women-owned business as 51% woman-owned, while others require proof of the state-provided women-owned business certification. Including this information on the checklist allows us to find these relevant opportunities for clients and avoid what could be perceived as overly personal questions during the interview.
Add funding limitations to your checklist
Some clients have a threshold of funding amounts they are interested in, government organizations they prefer not to work for, or barriers they will not abide such as equity requirements or the requirement to move the business to a specific location. Clients with these limitations should add these requirements to their checklist. In addition, clients should disclose their previous funding, as some funding opportunities require minimum or maximum funding amounts or business in a certain stage of funding (pre-revenue, seed, series-A).
We help high-growth startups find and apply for non-dilutive funding. Schedule a consult call with us HERE.