How do I finance digital ambitions?

More and more companies want to digitize, but far from every company knows how to finance it. Digital Investment Officer Robert Akker of EDIH NN helps Northern Netherlands entrepreneurs get faster and easier access to smart investments and subsidies.

Smart sensors for predictive maintenance. Self-driving forklifts in the warehouse. AI systems that analyze medical images. It sounds futuristic, but it is already happening in the Northern Netherlands. More and more companies in manufacturing, logistics and healthcare are taking the step toward autonomous systems and smart industry solutions.

The technology is there. The business case is solid. And yet one key question lingers for many entrepreneurs: how do I finance my digital transformation?

For Robert Akker, this is recognizable. As Digital Investment Officer at the European Digital Innovation Hub North Netherlands (EDIH NN), he is the point of contact for companies with financing questions. 'Many companies have concrete digitalization plans, but get stuck on financing issues,' he says. 'The maze of subsidies, loans and investors can be overwhelming. At the same time, it is often difficult to find the best possible financing option or get in touch with the right financiers. That's exactly where I can make a difference.'

EDIH NN, a European subsidized innovation program, advises and supports companies in the Northern Netherlands in their complete digital transformation, with a focus on the development of autonomous systems. Financing support is an important part of the service.

'Entrepreneurs know very well what they want to achieve technically,' says Robert. 'But they don't always know how to finance it smartly. It is still relatively easy to finance a new milling machine via a lease or bank loan. But it becomes more complicated when it comes to financing autonomous systems that optimize the entire production process, for example, or sensor technology that enables predictive maintenance. That requires an entirely different approach.'

Funding support ranges from consultations and business plan assessments to strategic guidance. How does that work in practice? 'Our approach is practical and direct,' he explains. 'Companies receive guidance throughout the entire process. This starts with a personal meeting, preferably on location. Then follows a thorough inventory: what do you want to achieve and what activities are associated with it? Based on the financing requirement, we look broadly at possible forms of financing. Can part of it be filled with subsidies? Are there loans and innovation funds that fit the objective? And are there perhaps strategic partners who can contribute?'

Robert sees how digitalization is fundamentally changing not only technology but also business models. New revenue models are emerging for companies implementing autonomous systems. The traditional one-time transaction is giving way to long-term partnerships. 'That requires different financing structures,' he argues. 'Subsidies that are now becoming available, for example, are already more focused on AI and the design and development of autonomous systems. In my opinion, that is just the beginning.'

Want to grow your business with digitization or autonomous technologies, but stumbling over complex grant applications or funding plans? Then contact Robert or read more about the possibilities on our funding support page.