BASIC GUIDELINES - APPLICATION PROCESS - REPORTING REQUIREMENTS
Rising North accelerates the internationalization of the Nordic startup ecosystem and helps to form links between existing organizations in the Nordic startup ecosystem. Projects to be funded under Rising North have to boost the Nordic region towards a global startup ecosystem. In addition to helping the Nordic startup scene internationalize, Rising North also has the goal to strengthen the Nordic brand outside the region thus each project has to achieve this goal in some way.
Rising North can support projects specifically designed for the fund or for example specific Nordic elements in larger projects that meet the guidelines of the fund. Projects with high impact, affecting positively a large number of Nordic startups have a better chance of receiving funding. Successful projects should be also possible to execute in years following funding.
A project can receive a grant of 10 000 - 50 000 EUR from Rising North.
A RISING NORTH PROJECT MUST BE WITHIN AT LEAST ONE OF THE FOLLOWING CATEGORIES
- Talent - Attract top global talent to the Nordics
- Capital - Attract capital to Nordic startups
- Policy - Change laws for a more startup friendly region
- Go-to-market - Help Nordic startups with go-to-market outside the region
- Visibility - Increase visibility of Nordic entrepreneurship and local initiatives
- Representation - Facilitate joint Nordic efforts in international events and represent Nordic participation in key global startup hubs
REQUIREMENTS FOR APPLICANTS
- Participation of at least three organizations with legal entities from three different Nordic countries (Denmark, Finland, Iceland, Sweden and Norway)
- Description of previous public funding received by the applicant prior to applying from 3 years (De Minimis Aid)
- Additional sources of funding for the project
MARKETING REQUIREMENTS FOR PROJECTS FUNDED BY RISING NORTH
- Rising North’s logo must be visible in all communication material related to the project. Logo can be found here.
- Social media should be used for communicating the activity, including the following handles @RisingNorthFund and #NordicMade.
- It is also possible to use NordicMade as part of the project brand. Example: Project name X NordicMade logo
- Create a hashtag for the project which makes it easy to follow, retweet and share posts
- Rising North must be updated on the progress and results from the funded project. A joint milestone plan shall be agreed upon if the project is funded.
- Project related marketing communication should be in english
NOT FUNDED BY RISING NORTH
- Project overhead costs or costs not directly related to executing the project
- Direct commercial activities of applicant organizations
- Projects that don't include outside funding
- Projects that benefit only a single company
- Human labor costs or salaries of the organisers directly related to the project
1 . Validation - Make sure that your project is a potentially fundable project for Rising North meeting the funding guidelines and goals set for Rising North. Consult Rising North if needed before applying.
2. Application - Draft a comprehensive application, budget proposal and prepare any additional material to apply.
3. Evaluation - The Rising North Steering Board evaluates applications once a quarter. Applications endorsed by the Steering Board are reviewed by the Board of Startup Foundation and approved if seen appropriate.
4. Announcement - Applicants are informed of the results 6 weeks after the quarter deadline.
Application deadlines are each quarter 23:59 (GTM +02:00). Late applications are reviewed in the next quarter.
Down below are listed the needed documents and materials that the main organizer of the project has to send to Rising North before receiving the complete payment of funding approved. Rising North inspects and approves the end report. The final or payment installment will be paid when the end repot has been accepted after successfully executing a proposed project.
EXECUTIVE & COMPREHENSIVE SUMMARY
Provide an executive (120-200 words) and a comprehensive summary (at least 2 pages) to describe what with happened. In the comprehensive summary at least the following subheadings should be discussed: project intro, purpose & goal, participating organizations and roles, what happened, how the money was used, the results, plans for the future, contact details, list of participating people if less than 31 people participated (including name, title & organization).
Return two PDF files.
REALIZED BUDGET & RECEIPTS
Provide a realized budget and include copies of receipts that amount at least the funding received. Please state the amounts also in Euros if purchases have been made in a different currency.
Return two PDF files.
Provide other related material of the project including at least five high quality pictures and when applicable logos, websites, links, Tweets, videos or other material. This material will be uploaded on the risingnorth.org website and might also be used to market Rising North and the projects. Provide possible credits if needed e.g. names of photographers etc.
Return a link to a Dropbox or Google Drive folder with the material.