Securing EU Funding: A Step-by-Step Guide for US Companies Expanding to Europe

Expanding operations to Europe can be a huge step for any US company, and securing funding from the European Union (EU) can help to make that step easier. In this article, we will provide a step-by-step guide for US companies who are looking to apply for EU funding to help with their expansion.

Step 1: Research eligible funding programs

The first step in securing EU funding for your US company is to research the various funding programs that are available. There are several different funding programs available from the EU, each with its own set of eligibility criteria and application requirements. Some of the most popular funding programs for US companies include Horizon 2020, the European Regional Development Fund, and the European Investment Bank.

Step 2: Determine your eligibility

Once you have identified the funding programs that are of interest to you, the next step is to determine your eligibility. This may involve reviewing the eligibility criteria for each funding program and evaluating your company's qualifications. Some of the most common eligibility criteria include having a European subsidiary, meeting specific economic criteria, and being active in a specific industry or sector.

Step 3: Prepare your application

Once you have determined your eligibility, it is time to start preparing your application. This will involve gathering all of the necessary information and documentation, such as your business plan, financial projections, and any other relevant information about your company. It is also important to review the application requirements for each funding program and to make sure that you provide all of the information that is requested.

Step 4: Submit your application

Once you have prepared your application, it is time to submit it to the EU. This can be done online, through the EU's funding portals or through designated national agencies. Make sure to submit your application well in advance of the deadline to allow for adequate processing time.

Step 5: Wait for a decision

Once you have submitted your application, the next step is to wait for a decision. This can take several weeks or even months, depending on the funding program and the volume of applications that have been received. In the meantime, it is a good idea to follow up with the EU to make sure that your application has been received and to inquire about the status of your application.

Step 6: Follow up on the outcome

Finally, once you receive a decision about your application, it is important to follow up on the outcome. If your application has been approved, you will need to take the necessary steps to access the funding, such as signing contracts and submitting reports. If your application has been declined, you may need to seek out alternative funding sources or re-evaluate your expansion plans.

In conclusion, applying for EU funding can be a complex process, but it is well worth the effort for US companies who are looking to expand their operations to Europe. By following these six steps, you can increase your chances of securing the funding that you need to support your growth and succeed in the European market.

Here are several official websites that provide information on funding from EU institutions. Here are a few of the most useful:

1. Horizon 2020: This is the EU's funding program for research and innovation. You can find more information about Horizon 2020, including information on funding opportunities, eligibility criteria, and how to apply, on the Horizon 2020 website at ec.europa.eu/programmes/horizon2020/

2. European Regional Development Fund: This fund provides support for regional development and economic growth. You can find more information on the European Regional Development Fund, including information on funding opportunities and how to apply, on the European Commission's website at ec.europa.eu/regional_policy/en/funding/erdf/

3. European Investment Bank: The European Investment Bank provides finance and expertise for sustainable investment projects. You can find more information on the European Investment Bank, including information on funding opportunities and how to apply, on the European Investment Bank's website at eib.org/

4. European Commission: The European Commission is the executive body of the EU responsible for implementing EU policies and managing EU funding programs. You can find more information on EU funding programs and how to apply on the European Commission's website at ec.europa.eu/info/funding-tenders/opportunities/portal/screen/home

5. National Contact Points: Each EU member state has a National Contact Point (NCP) that provides information on EU funding opportunities and helps companies to navigate the application process. You can find information on your country's NCP on the European Commission's website at ec.europa.eu/info/funding-tenders/how-get-funding/national-contact-points_en

These are some of the most useful websites for information on funding from EU institutions. By consulting these resources, you can gain a better understanding of the different funding opportunities available and take the first steps towards securing the funding you need to support your expansion to Europe.