5 tips for structuring your start-up
By Vincent Bories member of the scientific committee of HR FiabLab Europe and founding partner of Just Innovation
1. The amount of capital is essential to start a successful startup.
From a point of view of credibility, but especially that of operation. Indeed, a large majority of financial systems (loans, grants, …) are based on the 1: 1 system, that is to say, that the amount of aid will be capped at the level of your own funds . Also, some of the aids like the Young Innovative Company status can not be granted if the conditions of ownership of your capital by natural persons are not respected.
2. Surround yourself with suitable associates and collaborators with essential complementarities.
The goal is to concentrate with rigor on your project (technical development, commercial launch and relay with specific organizations). It must be assumed that each employee occupies a definite place in a company in terms of their skills. The idea is to define the roles beforehand and stick to them.
3. Remunerate yourself and establish a real cash flow plan.
Available cash is the energy of your startup, your financial reward the engine. It should be noted that certain aids require the setting up of remunerations (AIMA, Research Tax Credit, Young Innovative Company Status, …) Too many startups seek help at times of difficulty but can not claim because certain conditions such as the lack of own funds, poor balance sheets, or the absence of wage policies have not been anticipated.
4. Use the right financial help at the right time.
The cycle of creating a startup, often likened to its first three years, deserves a real work of approach to benefit from the good levers. Getting the most out of the available aids requires a timeline that is not necessarily the one that startups initially design.
5. Do not waste your time doing too much personally,
Use experts wisely. You will save time and investment. For a structured set of helpers, you will have to release one to two days on your working time, the experts will take care of the advice, the constitution and the follow-up of your file. Just Innovation is a consulting firm , expert in the evaluation of innovation projects and optimized aid application processes. Installed at the Village By CA in Paris (Rue de la Boetie), JustInnovation holds a permanence every Wednesday dedicated to startups and project leaders.