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Grants and non-dilutive funding finder: money that does not cost equity
Thirty-five programs that fund startups without taking shares: public grants, R&D tax credits, startup loans, cloud credits, equity-free accelerators and revenue-based financing. Filter by type or search your country. Amounts and rules change with every budget; each card shows when it was reviewed and links to the source.
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Tax credit
Canada
SR&ED
35% refundable credit on the first C$3M to C$4.5M of qualifying spend; 15% above
Who it is for
Canadian-controlled private corporations doing scientific research and experimental development; provincial credits add more.
Dilution
None
The expenditure limit was raised in 2025; keep technical records for CRA reviews.
Verify eligibility and amounts on the official page.
Grant
Canada
NRC IRAP
Contributions from tens of thousands to over C$1M
Who it is for
Canadian SMEs with fewer than 500 employees developing innovative products.
Dilution
None
Starts with an industrial technology advisor; funding covers salaries and contractor costs.
Verify eligibility and amounts on the official page.
Grant
Denmark
Innovation Fund Denmark Innobooster
Up to DKK 5M
Who it is for
Danish startups and SMEs developing new products or processes.
Dilution
None
Rolling applications; a budget and a clear innovation hypothesis are required.
Verify eligibility and amounts on the official page.
Grant
Estonia
Startup Estonia and Enterprise Estonia grants
Small starting grants and development grants of up to a few hundred thousand euros
Who it is for
Estonian companies, including e-Residency companies with Estonian substance.
Dilution
None
Programs change often; check the current calls.
Verify eligibility and amounts on the official page.
Public co-investment
European Union
EIC Accelerator
Grant up to €2.5M plus equity investment up to €10M (more for strategic technologies)
Who it is for
EU and associated-country startups and SMEs with breakthrough deep-tech innovations.
Dilution
Grant none; equity component dilutes
Multi-stage application with a pitch to a jury; success rates are low but the amounts are large.
Verify eligibility and amounts on the official page.
Grant
European Union
Eurostars
Project grants typically €300k to €1M per partner, co-funded nationally
Who it is for
R&D-performing SMEs collaborating with a partner in another participating country.
Dilution
None
Needs an international partner; national funding rules differ by country.
Verify eligibility and amounts on the official page.
Grant
Finland
Business Finland Tempo
Up to €60k covering 75% of eligible costs
Who it is for
Finnish startups under five years old testing international market demand.
Dilution
None
First step in the Business Finland funding path toward R&D loans.
Verify eligibility and amounts on the official page.
Grant
France
Bpifrance Bourse French Tech
Up to €30k (up to €90k for deep-tech emergence)
Who it is for
French startups under one year old at the idea or feasibility stage.
Dilution
None
Entry point to the Bpifrance ladder of innovation loans and deep-tech programs.
Verify eligibility and amounts on the official page.
Tax credit
France
Crédit d’Impôt Recherche (CIR)
30% of R&D spend up to €100M; innovation credit (CII) for SMEs at 20%
Who it is for
French companies with R&D or innovation spend; refundable for SMEs.
Dilution
None
Keep technical documentation; audits are common and the CII rate changed in 2025.
Verify eligibility and amounts on the official page.
Tax credit
France
Jeune Entreprise Innovante (JEI)
Exemption from employer social charges on R&D staff
Who it is for
French companies under eight years old spending at least 15% to 20% of costs on R&D.
Dilution
None
Criteria tightened in 2024 and 2025; check the current R&D spend threshold.
Verify eligibility and amounts on the official page.
Grant
Germany
EXIST Business Start-up Grant
Founder stipends of €1k to €3k a month for a year plus up to €30k for materials and coaching
Who it is for
Students, graduates and researchers founding technology companies from a German university or research institute.
Dilution
None
Applied for through the university; the company must not be founded before the grant starts.
Verify eligibility and amounts on the official page.
Investor tax relief
Germany
INVEST grant for angel investors
25% acquisition grant on investments of €10k to €500k per year, plus an exit grant
Who it is for
Angels investing in innovative German companies under seven years old.
Dilution
Equity (makes angel money cheaper)
The company must be certified as eligible by BAFA before the investment.
Verify eligibility and amounts on the official page.
Tax credit
Germany
Forschungszulage (research allowance)
25% of eligible R&D costs (35% for SMEs), capped per year
Who it is for
German companies with R&D projects; paid out as a tax refund even in loss years.
Dilution
None
Two-step process: certification of the project, then the claim with the tax return.
Verify eligibility and amounts on the official page.
Credits and perks
Global
AWS Activate
Up to $100k in AWS credits
Who it is for
Startups with an accelerator, VC or program affiliation; smaller credits for self-funded founders.
Dilution
None
Credits expire; higher tiers need an Activate Provider such as an accelerator or investor.
Verify eligibility and amounts on the official page.
Credits and perks
Global
Google for Startups Cloud Program
Up to $200k in cloud credits over two years, more for AI startups
Who it is for
Pre-seed to Series A startups; AI-first companies qualify for the higher tier.
Dilution
None
Credits are spread over two years; apply once you have a company domain and a product.
Verify eligibility and amounts on the official page.
Credits and perks
Global
Microsoft for Startups Founders Hub
Azure credits that scale with milestones, plus partner perks
Who it is for
Software startups at any stage before Series C; no investor requirement to start.
Dilution
None
Credits unlock in tiers; useful for AI startups using Azure OpenAI.
Verify eligibility and amounts on the official page.
Revenue-based financing
Global
Revenue-based financing providers
Typically 10% to 30% of ARR, repaid from 5% to 15% of monthly revenue with a flat fee
Who it is for
Companies with recurring revenue above roughly $20k MRR and predictable margins.
Dilution
None, but repayments start immediately
Providers include Capchase, Clearco, Uncapped and re:cap; compare the effective annual cost with equity before signing.
Verify eligibility and amounts on the official page.
Grant
India
Startup India Seed Fund Scheme
Up to ₹20 lakh grant for validation and up to ₹50 lakh via convertible instruments
Who it is for
DPIIT-recognised Indian startups under two years old, through approved incubators.
Dilution
Grant none; convertible dilutes
Apply through an incubator; the 80-IAC tax holiday is a separate application.
Verify eligibility and amounts on the official page.
Public co-investment
Ireland
Enterprise Ireland Pre-Seed Start Fund
€50k to €100k
Who it is for
Early-stage Irish companies with export potential, before or alongside angel money.
Dilution
Convertible (dilutes on conversion)
Replaced the Competitive Start Fund; High Potential Start-Up support follows at seed.
Verify eligibility and amounts on the official page.
Grant
Israel
Israel Innovation Authority Tnufa
Up to about NIS 200k, covering up to 85% of approved costs
Who it is for
Israeli pre-seed entrepreneurs validating a technology.
Dilution
None (royalties on sales)
IIA grants are repaid through royalties and restrict transferring IP abroad.
Verify eligibility and amounts on the official page.
Tax credit
Netherlands
WBSO
36% of R&D wage costs in the first bracket (50% for starters), 16% above
Who it is for
Dutch companies with technical R&D staff; applied for per period in advance.
Dilution
None
Apply before the work starts; hours must be tracked.
Verify eligibility and amounts on the official page.
Public co-investment
Portugal
Portugal Startup Voucher and Portugal Ventures
Vouchers of a few thousand euros a month for founders; Portugal Ventures invests from €100k
Who it is for
Portuguese startups at idea stage (voucher) or pre-seed and seed (Portugal Ventures).
Dilution
Voucher none; Portugal Ventures takes equity
Portugal Ventures is a public VC with calls by sector.
Verify eligibility and amounts on the official page.
Grant
Singapore
Startup SG Founder
S$50k grant with S$10k co-matching from the founder
Who it is for
First-time Singapore-based founders, through an accredited mentor partner.
Dilution
None
Startup SG Tech funds proof of concept (up to S$250k) and proof of value (up to S$500k).
Verify eligibility and amounts on the official page.
Loan
Spain
ENISA participative loans
€25k to €300k depending on the line; up to €1.5M for growth
Who it is for
Spanish startups and SMEs; no collateral or personal guarantees required.
Dilution
None
ENISA also certifies startups for the Startup Law tax benefits.
Verify eligibility and amounts on the official page.
Grant
Spain
CDTI NEOTEC
Up to 70% of the budget, up to €325k
Who it is for
Technology-based Spanish companies under three years old with their own R&D.
Dilution
None
Annual call; research staff hiring is favoured.
Verify eligibility and amounts on the official page.
Grant
Sweden
Vinnova innovation grants
Typically SEK 300k to SEK 5M per project
Who it is for
Swedish startups and SMEs with innovation projects in open calls.
Dilution
None
Calls are thematic with deadlines; co-funding is usually required.
Verify eligibility and amounts on the official page.
Grant
Türkiye
TÜBİTAK 1512 BiGG
Grant of several hundred thousand to over a million lira per idea; amount updated yearly
Who it is for
Entrepreneurs in Türkiye with a technology-based business idea, via accredited implementing organisations.
Dilution
None
Two stages: an implementing organisation’s program, then TÜBİTAK evaluation. KOSGEB and technopark exemptions stack on top.
Verify eligibility and amounts on the official page.
Grant
United Kingdom
Innovate UK Smart Grants
Typically £25k to £500k per project, up to 70% of costs for small companies
Who it is for
UK companies with game-changing R&D projects that can reach market within a few years.
Dilution
None
Competitive rounds with fixed deadlines; match funding is required.
Verify eligibility and amounts on the official page.
Tax credit
United Kingdom
UK R&D tax relief
20% expenditure credit; about 27% effective support for loss-making R&D-intensive SMEs
Who it is for
UK companies with qualifying R&D spend, including software development that resolves technical uncertainty.
Dilution
None
The merged scheme applies from April 2024; HMRC scrutiny has increased, keep contemporaneous records.
Verify eligibility and amounts on the official page.
Investor tax relief
United Kingdom
SEIS and EIS
SEIS up to £250k per company; EIS up to £5M a year
Who it is for
UK companies raising from angels; SEIS for companies under three years old with under £350k in assets.
Dilution
Equity (reduces the price of angel money)
Get advance assurance before the raise; use an advance subscription agreement, not a SAFE, to keep eligibility.
Verify eligibility and amounts on the official page.
Loan
United Kingdom
British Business Bank Start Up Loans
£500 to £25k per founder at a fixed 6% rate
Who it is for
UK founders in the first three years of trading; personal loan with mentoring.
Dilution
None
A personal loan, not a company loan; founders are liable.
Verify eligibility and amounts on the official page.
Grant
United States
SBIR and STTR
Phase I up to about $300k; Phase II up to about $2M
Who it is for
US small businesses doing R&D that matches an agency’s topics (NIH, NSF, DoD, DOE and others).
Dilution
None
Long applications and agency timelines; Phase I to Phase II takes a year or more. STTR requires a research institution partner.
Verify eligibility and amounts on the official page.
Tax credit
United States
US R&D payroll tax credit
Up to $500k a year against payroll taxes
Who it is for
Companies under five years old with under $5M in gross receipts that have qualifying R&D spend.
Dilution
None
Claim on the tax return; works even when the company has no income tax to offset.
Verify eligibility and amounts on the official page.
Investor tax relief
United States
QSBS (Section 1202)
Capital gains exclusion up to $10M to $15M per issuer or 10 times basis
Who it is for
Founders and investors holding qualified small business stock in a US C-corporation for the required period.
Dilution
None
Expanded in 2025 with tiered holding periods; confirm the current thresholds with a tax advisor.
Verify eligibility and amounts on the official page.
Equity-free program
United States
NSF I-Corps
$50k for customer discovery
Who it is for
Academic teams commercialising NSF-funded research.
Dilution
None
Seven-week program focused on customer interviews; a path into SBIR.
Verify eligibility and amounts on the official page.
Which type fits which company
Grants suit deep tech, hardware, health and climate with long build times. Tax credits reward R&D spend you already make and are the easiest money most startups never claim. Loans and revenue-based financing need revenue or a personal guarantee. Credits and perks are worth exactly the spend they replace.
The cost of free money
Applications take weeks, reporting takes hours every quarter, and some grants restrict where IP can go or demand royalties. Co-funding rules can require private money anyway. Model the time as a cost and keep the equity raise moving in parallel.
How to combine sources
A typical stack: cloud credits from day one, an R&D tax credit from the first filing, a grant for the research-heavy part of the roadmap, and angels or a seed fund for growth. Investor tax relief such as SEIS, EIS and INVEST lowers the price of the equity part.
Questions founders ask
Are grants really non-dilutive?
Grants and tax credits are. Public co-investment programs such as the EIC Accelerator’s equity component or Enterprise Ireland’s convertibles take equity and are marked as such.
Can a foreign company apply?
Usually the company must be registered and doing the work in the country. Subsidiaries often qualify; check each program’s rules.
How do I suggest a program?
Send the name, the official link and the current amount and we will add it after verification.
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