4 tricks to know if you need to hire consultancy services

If you are here, you probably come from the deep tech industry and have an innovative idea that needs an extra boost to achieve your growth goals. In that case, you may consider counting on expert national and European funding consultancy services.

Making the right decision and hiring the one that could better fit your needs may be a complicated task: there are many, and all seem to promise incredible results. Besides, every project is different, and what works for a specific start-up, for example, may not work for you.

For that reason, we have prepared a list of 4 questions you should ask yourself before taking this step.

I consider my project to have opportunities to get funded. Should I try to apply on my own?

We are happy to hear that! But first, you should ask yourself some questions before starting the application form on your own: Do you or even your team have previous experience achieving success in funding programmes? Have you faced this challenge before? 

If you just shrugged your shoulders, maybe it could be time to look for professional advice to help you make the best decision according to your R&D project.

Why’s that? If you don’t have the necessary experience, applying for fundings can be complex. That could be a synonym for taking various attempts and, therefore, it will require more time, effort and costs and, in many cases, all that effort does not end up being rewarded. 

However, if you find an ideal consultancy for your initiative, you could have more chances to succeed as they have been dealing with similar projects and applications for several years. 

Even if it could mean a payment your team didn’t consider in the first place, it is definitely something to have in mind if it could be translated into an economic problem if you try to apply on your own.

I’d like to expand my network but not sure if a consultancy could help me with that

When you are developing a new or recently created company, you surely need some key contacts to collaborate and support your idea. We like to say that “if you want to go quickly, go alone. If you want to go far, go together”.

Sometimes, it is difficult to reach a professional who could show interest in your project. Knocking on all those promising doors could be tricky and become a waste of time and effort if you don’t know how to.

You should evaluate your possibilities and, if possible, let yourself be guided by a consultant who could find excellent partners and collaborators that could work with you. 

Our advice: look for a consultancy firm with some years of experience and a vast client portfolio that ensures they have the necessary professional background to get you in touch with interesting contacts.

I already have in mind the perfect funding option for me. Why would hiring consultancy services help me more if I already know which one to apply?

Let us ask you something: are you 100% sure that your project would fit in that funding programme? If so, you may not need consultant help to find the most suitable funding line!

However, sometimes, if you don’t have the necessary experience, your perspective and decision-making process can be partial. Also, funding programmes can be complicated, and they address specific eligibility criteria, TRLs, sectors and candidates.

That said, it is possible the funding option you would like to apply for may not be so beneficial for you. In that case, it could be better to count on an external and experienced opinion that will guide you to the right funding programme or even give you some advice on what you need to do first if you want to succeed in your application. 

Listening to external professionals would help you not just to get funded but also to take the necessary steps to bring out the best of your project.

Can I imagine myself as a success story?

When we doubt between several consultancies, it is essential to have a look at their success stories, since it is something crucial that goes beyond numbers.

We highly recommend you to take some minutes of your time and read some of their case studies: are they from a sector similar to yours? Any start-up you already knew has achieved its goals by hiring their services? Do they have on their social feed recent examples? 

If you feel like you could lead their “success stories” section on their website, that definitely would be worth it.