DIGITAL INVEST PROGRAM
Digital Invest program is for startup, small, or medium-sized business seeking funds, digital technology development, design and revenue generation (this is not a free program, a commitment fee is applicable)
ELIGIBILITY
- Compulsary that participating organisation/startup/SMEs should contribute to atleast one SDG 2030 goal.
- For profit, non profit, state owned institutions can apply
- Private organisations, Civic and social organisations, non-profit organisations, R&D departments, accelerators, incubators, municipalities and HEIs (For accelerator, Incubators, HEIs, Government hubs, co – Click here)
- Co-working hubs, Click here
- Startup or SME facing challenges in creating, building, or maintaining digital tools, technology, web presence, apps, and design due to high costs
- If you are seeking to raise funds from Private investment
- If you are seeking to raise grants from EU, UN and other international agencies
- Startup/SME focused on expanding into new countries or market
- Pre-seed, seed and revenue generating company can apply
- Need to be a registered organisation
- Would like to expand to EU, UAE, USA
FUND STRUCTURE & WHY COMMITMENT FEE ?
The cost for Phase 1 of the Digital Invest Program is €31,200.
For Phase 2, the cost for the Digital Invest Program, including foundational investments, ranges from €100,000 to €500,000 over a two-year period.
Significant investment is required from the Digital Invest Program to develop revenue models, digital solutions, tools, websites, apps, and to scale these solutions to new countries.
These services are provided to startups, SMEs, and organizations at no cost.
However, based on experience from previous cohorts, and to ensure that only serious candidates and partners with genuine needs for digital solutions, revenue models, and market scalability are selected, the Digital Invest Program has decided to implement a small commitment fee
DIGITAL INVEST PROGRAM
This program is designed for startups and SMEs to increase revenue channels.
Participants will receive regular updates on available funds, grants, and private VC channels.
Selected startups and SMEs will be eligible to receive a digital technology grant from BothOfUs, covering up to 50% to 80% of the costs related to digital solutions, which BothOfUs will sponsor, create, and maintain.
The program aims to help participants establish a global presence in Sub-Saharan Africa, the EU, the USA, and the UAE, and to participate in EU consortium calls to receive equity-free grants.
Special preference
- Any organisation can participate, except business operating in the sector of Gambling, alcohol and illegal activities
- Preference are given to organisation with founder or board of 50% female, youth, or LGBTQ founders.
- Special preference is given to tribal and native people of each countries.
EXPRESSION OF INTEREST
Step 1: Submit the Expression of Interest Application Form.
Step 2: BothOfUs performs due diligence.
Step 3: BothOfUs may request additional information if necessary.
Step 4: If selected, the participating company or organization must pay a commitment fee ranging from €200 to €700, depending on the country status or company size. For country status, refer to UN Country Classification.
Step 5: Phase 1 – A workshop will be scheduled between representatives from the EU, UN, and a commercialization expert from BothOfUs to learn about your company’s operations (estimated duration: 40 minutes to 1 hour and 30 minutes).
Step 6: A report of the workshop and a proposal of the plan will be presented one to two weeks after the initial workshop (estimated time: 1 hour).
Phase 2: BothOfUs will evaluate if the startup can participate in the digital grant program sponsored by BothOfUs.
Step 7: Upon selection for the program, BothOfUs will sponsor 50% to 80% of the costs and handle all development of digital solutions and digital presence. This includes the development of websites, tools, apps, ML, AI, deep tech, design, and branding. The cost will be evaluated based on the ongoing market spending of the company.
Step 8: BothOfUs and the startup will apply for funding to receive funds from grants or venture capital sources.
ADVANTAGES
Cohort III - Fostering Global Peace Through Innovation & Technology
To conduct a comprehensive assessment of your digital tools and design aimed at enhancing financial stability.
Establishing a novel revenue stream within the current business framework
Expanding into new markets to amplify business growth
Formation of a consortium for seeking EU and international funding opportunities
Fostering International Collaborations
The SME Program is designed for startups, small, and medium businesses that require:
- Design or development of digital tools such as apps, websites, and tech tools. This semi-granted program allows participants to pay only 50% of the value, with the remaining cost covered by the BøthOfUs Fund.
- A strong revenue generation model or business model review.
- Access to grants and funds, with BøthOfUs facilitating connections with investors and collaborating with SMEs to apply for funding.
- Support for expansion into the US, EU, or Australian markets.
- Development of a robust company strategy.
The SME Program is a co-funded initiative run by BøthOfUs and EU organizations
To be eligible for the program, the startup, SME, or organization must demonstrate a need for funding and/or digital solutions. This includes needs such as creating an app, website, AI, ML, branding, or design.
As a startup or SME, you will receive up to 50% of the expenses related to the development of software or digital solutions.
For example, if you wish to create an app or website and the market value for this development is €50,000, under this grant program, BøthOfUs will cover €25,000 of the expense and will also undertake the creation of the app or website valued at €25,000. In exceptional cases, companies may receive a digital development grant covering up to 75% of the costs.
Please note, the funds will not be disbursed directly; rather, they will be utilized for the development of the digital solutions
No, BøthOfUs will not take any equity from participating SMEs in this EU program.
BøthOfUs has already received funding from the EU and private investors in the EU and USA for implementing the program. The goal of this program aligns with the EU’s objectives of digitalization and digital transformation.
In the long term, if a startup or SME creates significant social impact on a large scale, BøthOfUs may consider becoming an equity investor, with potential funding of up to €1 million
Yes, you can participate. However, the company must be legally registered to receive any funds.
Yes, startups and SMEs from all countries are eligible to apply.
We plan to support 6 companies in Summer 2024 and 6 companies in Winter 2024.
Phase 1 of the program lasts 1 to 2 weeks.
Phase 2 of the program lasts 3 to 12 months, depending on the app or website that the startup or SME wants to create.
The participating startup/company is required to commit to weekly participation and meetings for the purpose of discussing and defining project scopes.
If a participating startup/company decides to discontinue after initiating the program, they may do so at any time without a binding time commitment. Please note that the commitment fee is non-reimbursable
As the due diligence step, express interest for participation in the form here. (Kindly, attach any information about your company such as slides/presentations).
Then you will receive the confirmation if you are selected or not in the email. If you are selected, then next steps will start.
Please send an email to info@bothofus.se or keep it simple by sending whatsapp/Telegram/Viber message or call to number +46768688418
We’re here to help and provide the information you need.
Who funds this program
The initiative receives co-funding through BøthOfUs as a component of EU instruments and from foundations. The goal behind this program is to promote digitalisaiton and also for future big rounds of investment in companies
Past funds received by BøthOfUs
BøthOfUs information on EU website
HEI fund
CleanTech Fund
Successful Collaborative Engagements by BøthOfUs
BøthOfUs Featured in News & Media
