A polished launch video can make a big impact on start-ups – but paying for one isn’t always easy. However, there are start-up funding options in Ireland that can help cover marketing costs like this.
In this article, we’ll break down what’s available and how to tap into it so you can get your marketing off the ground without breaking the bank.
Table of Contents
Understanding the Stages of Start-up Funding
Start-ups go through different funding stages, each with its own needs.
Pre-seed stage
Founders often rely on personal savings, family, or angel investors. This helps them validate their idea and build a minimum viable product (MVP). Funding at this stage typically ranges from €10,000 to €150,000.
Seed or Series A stage
The need for more funding grows. This stage focuses on product-market fit, building the team, and early scaling. Start-ups usually raise between €150,000 and €2 million, often from accelerators, seed funds, or crowdfunding platforms.
Series B, C and Beyond
Funding amounts will increase to €2 million or more. This money is used to scale operations, refine the product, and expand into new markets. At this stage, start-ups must show scalability, strong financials, and a competitive edge.
It should be noted that certain industries like MedTech and DeepTech and Drug Development routinely raise higher amounts earlier because of the intensive capital costs required to create them and get them to market.
Funding Source #1 – Accelerator Programmes
Accelerators are a great option for start-ups to secure funding for marketing. Beyond the money, one of the biggest benefits of these programmes is the network. You’ll get access to mentors and fellow start-up founders who’ve been through it and can offer solid advice.
Here are a few examples from Ireland:
- IGNITE: Offers €5,000 in funding, plus mentoring and office space. It’s a solid choice if you’re just getting started and want to sharpen your pitch, build out your marketing plan, and get advice from experienced entrepreneurs.
- New Frontiers (Phases 2 and 3): Offers up to €15,000 in equity-free funding. Alongside that, you get business development support, marketing help, access to workshops, mentoring, and loads of networking opportunities.
- NDRC: Aimed at start-ups with high growth potential, this programme can provide up to €100,000 in funding. It’s very much focused on scalability and includes mentorship to make sure you’re using that funding in the smartest way possible.
Funding Source #2 – Enterprise Ireland HPSU
Enterprise Ireland’s High Potential Start-Up (HPSU) offers €100,000 in pre-seed funding to innovative start-ups that show real promise for growth.
Eligibility:
- You’ll need to show that your start-up has the potential to create jobs and expand internationally.
- The business should be innovative and targeting a sizable market opportunity.
This funding gives you a strong starting point to build a smart marketing strategy. Investing in a high-quality launch video is a great way to use part of that €100,000. A professional video will help you tell your story and stand out in crowded markets.
Funding Source #3 – Priming Grants
Local Enterprise Offices (LEOs) around Ireland offer Priming Grants of up to €150,000 to help new businesses get off the ground.
What you need to know:
- Businesses must be within their first 18 months of trading.
- Usually, the business must not employ more than 10 people.
- The application process can vary depending on your location, so it’s a good idea to reach out to your local office for the specifics.
Many businesses use the Priming Grant to invest in marketing assets like launch videos, websites, or digital advertising campaigns. If you can show a solid plan for how the funding will help your business grow, you’ll increase your chances of getting approved.
Funding Source #4 – Feasibility Study Grants
For start-ups in the concept or prototype stage, Feasibility Study Grants of up to €15,000 from Local Enterprise Offices (LEOs) can help fund marketing efforts – as long as it’s part of developing your prototype.
What you need to know:
- Your business can’t have more than 10 employees.
- The funding is aimed at businesses exploring the feasibility of a manufacturing or internationally traded service.
These grants can be a real game-changer, especially when it comes to demonstrating how your product works. If you can showcase its functionality, you’ll be in a stronger position when pitching to investors and going after further funding rounds. A well-crafted prototype video can be a great tool here, helping you make a strong case to secure the next round of support.
Funding Source #5 – Venture Capital (VC) Funding
Venture Capital (VC) funding is another option for start-ups looking to secure serious backing. Many of Waking Dreams Media’s clients have turned to VC funding, often starting at €500,000, to fuel their marketing efforts – including launch videos.
How to Use VC Funding for Marketing:
- Set aside money for professional video production. High-quality videos are key assets for pitching to investors, attracting customers, and building brand awareness.
- Distribute across multiple channels. Make sure to get the most out of your video by sharing it on social media, in email campaigns, and at events.
With the resources that come from VC funding, start-ups can create polished, impactful marketing materials. These assets help bring in customers and boost credibility with investors and other stakeholders.
Funding Source #6 – International Opportunities
Start-ups with global ambitions can benefit from exploring funding options beyond their home market.
Grants and Accelerators:
- United States: Y Combinator and Techstars offer funding and mentorship for globally competitive start-ups.
- Asia: Programmes like JETRO (Japan External Trade Organization) support international companies entering Asian markets.
- Europe: Horizon Europe provides grants for research and innovation across the EU.
Venture Capital:
Many global VCs look for start-ups with cross-border scalability. Founders should highlight international market opportunities when pitching to these investors.
Alternative Start-up Funding Sources
Bootstrapping
Funding through personal savings or early revenue, keeping full control but challenging if funds are tight. Founders often use this to prove their concept before seeking external investment.
Angel Investors
Successful entrepreneurs or professionals who invest their own money early on, often providing mentorship alongside funding.
Crowdfunding
Raise money from many small contributions online through platforms like Kickstarter or Indiegogo, offering rewards to backers – a great way to fund ideas and build a community.
Family Offices
Private investment entities managing wealth for high-net-worth families, often with a focus on long-term impact and social missions.
Corporate Venture Capital (CVC)
Investment arms of large corporations offering funding, networks, and resources for strategic alignment with start-ups.
Syndicates
Groups of angel investors or smaller VCs pooling funds, with platforms like AngelList making it easier for start-ups to secure multiple backers.
Combining Start-up Funding Sources
Many start-ups successfully combine multiple funding sources to cover their marketing expenses. For example:
- Feasibility Study Grants: Use these to create a short demo video for early-stage product development.
- LEO Priming Grants: Supplement the demo video with a comprehensive launch campaign, including digital ads and content marketing.
- Accelerator Programmes: Leverage mentorship and additional resources to refine messaging and maximise impact.
- VC Funding: Scale the campaign by expanding its reach and improving production quality.
Networking for Fundraising
Networking is a cornerstone of successful fundraising. The right connections can lead to funding opportunities, partnerships, or valuable advice.
Pitch Events: Attend local and international events like Web Summit or Start-Up Grind to showcase your start-up and meet potential investors.
LinkedIn Strategies: Use LinkedIn to build relationships with investors. Share updates, thought leadership, and traction milestones to keep your network engaged.
Leveraging Referrals: Ask existing investors or mentors for introductions to their networks. Warm referrals carry more weight than cold pitches.
Extra Tips for Fundraising
Use the Right Tools & Resources
Crunchbase: Provides comprehensive data on investors, funding rounds, and industry trends.
F6S: A platform for discovering grants, accelerators, and funding competitions globally.
AngelList: Enables founders to connect with angel investors and syndicates in their industry.
Tailor to ESG Principles
Start-ups aligned with ESG values can attract specific funding. Highlight impact metrics like carbon reduction or diversity to appeal to ESG-focused investors.
Address Legal and Regulatory Challenges
Navigating legal complexities is key to securing funding. Ensure compliance and structure agreements to avoid disputes, with clear exit strategies to align interests.
Handling Rejection
Unfortunately, rejection is part of fundraising. Instead of taking it personally, use it to refine your pitch.
When to Start Fundraising Cycles
When you raise funds is as important as how you do it. Fundraising often aligns with specific cycles or stages of start-up growth. Planning around these timelines can streamline the process.
Understanding Timing
- Pre-Launch: Best suited for pre-seed and seed rounds, where investors focus on validating the idea.
- Post-Launch Traction: Series A and B rounds rely on demonstrable traction and scaling potential.
Seasonal Trends
- Fewer deals are closed during the summer or December holidays, as investors typically slow activity. Plan to pitch earlier in the year or after these lulls.
Managing Post-Funding Scaling
Securing funds is just the beginning. Managing growth is crucial for long-term success.
Rapid Hiring
Scaling often requires rapid team expansion. Create a structured hiring plan that balances speed with maintaining company culture.
Operational Scaling
Ensure systems, processes, and infrastructure can handle increased demand. Automate repetitive tasks and invest in scalable solutions.
Financial Oversight
Measure expenditures carefully to avoid overextending resources. Work with financial advisors to optimise budgeting and forecasting.
Tracking Progress
Setting key performance indicators (KPIs) such as customer acquisition costs (CAC) and lifetime value (LTV) ensures that resources are driving measurable results.
Building and Sustaining Investor Relationships
A successful funding round marks the beginning of a long-term partnership with investors. Regular communication – through newsletters, meetings, and financial updates – keeps stakeholders informed and engaged. Transparency builds trust and strengthens these relationships.
Investors often bring more than just money to the table. Their networks can open doors to new markets, potential hires, and strategic partnerships. By building strong relationships, start-ups can extract maximum value from their investor(s).
Learning from Success Stories
CroíValve (MedTech – Heart Disease)
Funding Breakdown:
- Angel Investors: €4.7 million (initial €3.2M in 2019 + €1.5M follow-on)
- Syndicates (Halo Business Angel Network): €8 million
- EU Horizon 2020 SME Instrument Grant: €2.5 million
- Follow-on Syndicate Investment: > €14 million (reported in subsequent rounds)
- Total Raised: > €29 million
Pebble Technology (Wearable Tech)
Over 10 years ago, 78,741 people backed Pebble Time through crowdfunding. They attracted backers with the promise of early access to their product and the ability to help shape the future of wearable tech.
- Crowdfunding Platform: Kickstarter
- Total Raised: > €18 million (from crowdfunding alone)
Conclusion to Start-Up Funding
Start-ups can tap into various funding options – both traditional and more creative – to get the resources they need for standout marketing. By combining these different sources, you can make sure your marketing is well-funded and positioned for success.
If you need help with a launch video or navigating your start-up funding options, we’re here at Waking Dreams Media to guide you.
