Although not all participants might be at the stage to really dive into financing and funding opportunities for their business ideas, it is important for all participants to be made aware of basic information and resources in regards to both. It is valuable for participating mentors to take part in this session in order to also be aware of the opportunities they may be able to recommend the participants.
The session in funding and financing opportunities might be one of the most context-specific sessions and therefore does not have a general tool to use as a resources. Nonetheless, the session would need to address a number of topics, namely: how participants can obtain financial support by banks or loans, what grants or entrepreneurship support schemes exist in their context and relevant to different business ideas, what kind of financial support they could get from public institutions such as employment agencies and chambers of commerce, how alternative financing such as crowdfunding could be used to kick-start the funding of their business and generally what institutions they could turn to for advice or guidance in identifying financing mechanisms.
The topics described above should be addressed by a trainer or facilitator who is aware of and experienced when it comes to identifying and making use of funding opportunities or by a representative of such a financing institution. The latter would give participants the chance to hear first hand from ie. an investment bank representative how they could approach getting a loan and what chances they may have in this regard.
The expected outcome of this input session is that participants are aware of funding opportunities available to them, have the ability to make reasoned and independent choices about what mechanism to turn to for support and can take next steps towards finding financing opportunities for their business idea.