Smartclamp is a new solution for opening, closing and differentiating beverage cans. It is also a unique product in the world, which is hopefully soon a part of every household. It is also a product with a very high potential for marketing, as it is possible to print a company logo or other message that needs to be communicated on the Smartclamp. It is also a good option for environmentally friendly companies that are in search of Christmas presents.
As always with developing new products, time, knowledge and money are needed. Smartclamp team had developed its product so far that they could mass-produce it. Before entering officially the market, funding was their major concern. For this, they wanted to apply for start-up grant from Enterprise Estonia.
Start-up support is by nature a funding measure that requires a lot of prior knowledge. You must submit to the Enterprise Estonia a business plan, financial forecasts and price offers. It is also necessary to go through the preliminary counselling of the Regional Development Centre and get an ex-ante evaluation from there. Without any prior knowledge, applying for a start-up support is a very time-consuming and relatively difficult process.
Our former customers advised that Smartclamp team should contact Haap in regards the start-up grant. Thus, we started together preparing an application for the start-up support and we also analysed the company's financial projections. Several of the costs that were originally budgeted were not eligible for support and Smartclamp eventually applied for support for one-off marketing costs, for the purchase of fixed assets, and partly for the compensation of the first employee's labor costs.
After several consultations with Enterprise Estonia, Smartclamp was provided a maximum grant of EUR 15,000.
We have not worked with our team a long time with product that has such of a potential. So, we wish Smartclamp team all the best in succeeding future product development challenges and to bring its brand to the world! If you also need help with start-up support, please feel free to contact us at email@example.com