Money from a grant, an angel and a VC looks the same in your bank account, but each one costs something different: equity, time or obligations. Here is how to compare them, using the programs in this issue.
Every euro has a price#
Grants: paid in paperwork#
- The EIC Accelerator grant is non-dilutive, but it has three stages: a short proposal, a full proposal and a jury interview.
- The Dutch Innovatiekrediet comes with a repayment schedule, and you must fund at least 55% of project costs from other sources.
Angels: paid in equity, and often in advice#
Angel networks such as Golden Seeds or the UK Angel Investment Network usually invest in exchange for equity or a convertible such as a SAFE.
VCs and accelerators: paid in equity and pace#
Funds such as a16z speedrun (up to $1M) or henQ (up to €10M) bring bigger cheques and expect fast growth. Read each fund's terms before you sign.
Pick the money whose cost you can live with.