A Guide to Fundraising
Securing funding is a critical step for early-stage entrepreneurs — but navigating the landscape can be especially tricky for social ventures. Here's what we learned from founders and experts in the field.
Tips
1. Explore Local and International Funding Opportunities
Early-stage funding doesn’t always mean giving up equity. Founders are encouraged to explore a mix of grants, subsidies, and innovation funds offered by both local governments and international organizations. For example, in Austria, Austria Wirtschaftsservice (AWS) provides a range of programs supporting early innovation without requiring equity.
💡 Tip: Look into startup-specific public funding bodies, EU programs, or foundations aligned with your social mission. These often have lower barriers to entry and are more impact-oriented than traditional VCs.
2. Focus on Sustainable Growth, Not Just Investor Appeal
A recurring insight: founders should avoid constantly reshaping their business just to align with what investors want to hear. While impact investing is growing, many investors still lean on conventional KPIs like rapid user growth and high revenue potential.
Instead, many WSA alumni shared:
- Prioritize product-market fit
- Stay aligned with your core mission
- Build for long-term resilience, not just short-term valuation
🎯 Stay grounded: Your social mission is a strength — not a liability. Seek out investors or partners who understand that.
3. Build Relationships Early
Even if you're not actively fundraising, it pays to start building relationships with potential funders. Attend pitch events, join incubators, or reach out to relevant networks and angel groups early. These connections can be crucial when you're ready to raise.
