EBAN’s Pilot Actions Drive Startup Success

• November 16, 2023

As part of the EU-funded RAISE project, EBAN conducted pilot actions at four major events: The Belgium Startup Meetup 2023, Pitch Perfect for the Bioeconomy 2023, EBAN European Angel Investment Summit 2023, and Impactfest 2023. These sessions focused on enhancing startup investability, access to finance, and developing commercial and business models. The events facilitated direct interactions between startups and the investment ecosystem, including corporations, venture capitalists, private equity firms, and business angels.

The methodology involved organising open training sessions at the four major events, offering startups the opportunity to benefit from mentoring. Startups learned about the project’s overall objectives and received specific guidance on best practices for improving investment, access to finance, business models, marketing strategies, and market analysis. The training sessions began with an exercise to map the key needs of the startups and the barriers they faced in accessing funding, allowing mentors to tailor the training accordingly. This structure also provided networking opportunities with peers and potential investors.

Key Pilot Actions and Outcomes

Algae Biomass Integration Feasibility Study

In one of the pilot actions, EBAN conducted a comprehensive feasibility study on integrating algae biomass as a reinforcer for PHA in packaging and batteries. The study involved developing a business model that outlined the economic viability of the proposed synthesis optimisation and identifying funding sources, including grants, venture capital, and strategic partnerships.

Key impacts achieved:

• A clear understanding of the technical and economic feasibility of utilising algae biomass in PHA applications.
• Identification of potential investors and financial supporters for the project.
• Creation of a solid financial plan to support the optimisation process.

Viability of Business Model and Market Fit

In another pilot action, EBAN assisted a startup in identifying the viability of its business model and market fit. The focus was on improving investability by assessing the value chain and marketing strategies, accessing funding through private investors and public aid initiatives, and identifying target markets and niche stakeholders.

Tangible outcomes included:

• Estimation of the capital cost of the project/process/value chain using techniques such as analogy, parametric, and bottom-up methods.
• Understanding of fixed and variable costs associated with acquiring or building the necessary assets or infrastructure.
• Estimation of the operating cost using cost accounting methods such as activity-based costing (ABC) and standard costing.
• A comprehensive map of fixed and variable costs for running or maintaining the project/process/value chain.
• Revenue forecasting using techniques like trend analysis, market share analysis, and scenario analysis to predict sales volume, price, growth rate, and profitability.
• Definition of key performance indicators (KPIs) using software modelling tools such as Excel or the RIAM Model.
• Identification of financial metrics like NPV (net present value), IRR (internal rate of return), payback period (PP), and ROI (return on investment), along with comparisons to benchmarks or targets.

Enhanced startup investability and access to finance

Through these pilot actions, EBAN significantly contributed to the development of startups, providing startups with essential tools and insights for successful market entry and growth. The coaching sessions not only enhanced startup investability and access to finance but also fostered valuable networking opportunities with peers and investors. These efforts mark a significant milestone in the RAISE project’s ongoing mission to support and scale up startups across Europe.