8.1.5 Summary of key points

There are several sources of finance available for developing an innovative product / process / company. This component provides general information about them but emphasises the importance of analysing the stage of the innovation in order to choose the appropriate source of finance because each source is focused in one or two stages. For early stages of the innovation business angels and public funds are appropriate but for the exploitation stage, banks and new markets are the ones that finance it. Obviously it also depends on the type of innovation and the size of it.

After reading the component you will have an idea of what kind of finance is available in order to develop an innovative idea. The component describes the most important sources of finance and remarks on the importance of analysing the stage of the innovation in order to know what kind of financing is most suitable according to the stage and scope of the innovation.