Innovation Stimulus Program: Who Qualifies and What You Get
Learn how tech companies and startups can access co-financing for research and development projects through this Mexican government program.
This program provides financial support to help businesses fund their research and development efforts. It is designed to help companies scale by providing access to non-dilutive capital for technical advancement.
Who it's for
This scheme is specifically designed for technology-focused companies and startups. To qualify, your business must be actively working on research and development (R&D) projects that drive innovation within the local ecosystem.
What you get
If your application is successful, you can receive co-financing for your research and development projects. This support is intended to help stretch your company's runway by providing capital that does not require giving up equity in your business.
What it costs you
While the funding provides much-needed capital, it requires a significant investment of time and resources. You will need to prepare extensive, detailed project proposals to demonstrate the value of your work. Additionally, you must be prepared to meet strict audit requirements to prove that all funds are being used correctly for the intended research purposes.
The catch to know
There are two main hurdles to keep in mind. First, the program is highly competitive, meaning many applicants may not receive funding. Second, you cannot apply as an individual or an informal business; you must be a formal legal entity to participate in this program.
How to apply
- Verify that your company is a formal legal entity.
- Prepare a comprehensive proposal for your specific research and development project.
- Gather all necessary documentation required for the formal audit process.
- Submit your application through the official CONAHCYT portal: https://conahcyt.mx