Questions and Answers 1st Call
Q.1 Should the budget be in Euro?
A. 1 Yes, the budget should be only in Euro.
Q.2 Budget for Lot 3- Scale-up stage: Kindly clarify the sentence “The total grant amount may not exceed 70% of the total value of the budget for the implementation of the business idea for which the grant is awarded”. Is it only the Challenge Fund grant contribution or together with the financing of the applicant?
A. 2 For Lot 3: Scale-up stage the total grant amount may not exceed 70% of the total value of the budget for the implementation of the business idea for which the grant is awarded. The sentence means that the total amount of the Challenge Fund grant for LOT 3 should not exceed 70% of the total budget, while the other 30% of the total budget should be the financing of the applicant.
For example: If the total budget proposed for the implementation of the business proposal under LOT 3 is 42 000 Euro, the Challenge Fund grant to be requested should not exceed 29 400 Euro (equal to 70% and not higher than 30,000 Euro, the maximum grant awarded from the Challenge fund for LOT 3), and the applicant contribution should not be lower than 12 600 Euro (equal to 30%).
Q.3 In the Cash Flow Year 2024 table, we cannot start and complete it in January because the selection of winners has not been completed until then, and if we do it in April, for example, the year is not complete. How should we do it?
A. 3 The Cash Flow for the year 2024 should be completed with data regarding the current business activity of your start-up for LOT 2 and LOT 3. Meanwhile, the row of the cashflow “Income from Challenge Fund” for the months prior to the start of the implementation period of the business proposal should be completed with 0.
For LOT 1, the cashflow for the months prior to the start of the implementation period of the business proposal may be completed with 0.
Q.4 Should the powerpoint presentation be uploaded for LOT 3?
A.4 Kindly refer to the Guideline for Applicants document, Section 11, point 6 “List of annexes”, which states the following: “The Power Point Presentation form for the Pitching Event is to be completed and uploaded in the online platform by applicants that will be selected for Stage 3 of the evaluation process: Pitching event, upon request by the Contracting Authority”. Thus, in the application phase, this document is not required.
Q.5 30% of the co-financing can be all in kind or cash?
A.5 The co-financing could be either in kind or cash or both.
