Raising a $1.2 Million Grant for a Startup of Ultrasonic Tech

Client: Confidential

Sector: Oil and Gas

Funding Institute: Qatar Foundation

Consulting Firm: World Business Council

Challenge:

A promising startup in the ultrasonic technology sector, specializing in Oil and Gas, was facing a significant hurdle. They had an innovative project with great potential but needed substantial funding to take it off the ground. They required $1.2 million for the development, testing, and implementation of their groundbreaking technology, but securing this funding was proving to be a complex and intricate process. The client had a raw proposal, but it lacked the necessary polish, financial projections, and strategic alignment that the funding organizations required.

Solution:

The World Business Council stepped in with a multi-faceted approach to meet this challenge:

Creating a Logic Model: By refining and expanding on the existing proposal, the team created a comprehensive logic model to clarify the project’s goals, the resources required, the planned activities, and the intended short and long-term outcomes.

Financial Projections and Cash Flow Modeling: Detailed financial projections were prepared to showcase the sustainability and potential profitability of the project. A robust cash flow model was developed to assure the funding institute of the client’s ability to manage the funds efficiently.

Negotiation and Communication with Funding Organizations: The WorldBC Business Council leveraged its extensive network and experience in the Oil and Gas sector, initiating and handling negotiations with the Qatar Foundation. The firm managed all communications, ensuring that the client’s proposal was aligned with the foundation’s objectives and criteria.

Closing the Deal: The team provided ongoing support in finalizing the deal, guiding the client through the complex process of meeting all requirements, completing the necessary documentation, and officially securing the grant.

Benefits

The tangible and intangible benefits realized by the client were substantial:

Funding Secured: The $1.2 million grant was successfully obtained, enabling the startup to progress with its innovative ultrasonic technology project.
Strategic Alignment: The refined logic model provided a clear framework that not only facilitated funding but also gave the client a solid roadmap for project implementation.
Financial Clarity: The financial projections and cash flow modeling gave the client greater insight into their financial situation and helped them plan effectively for future growth.
Professional Negotiation: With the World Business Council’s expert handling of negotiations, the client was relieved from the often stressful and complex process, ensuring that the terms were favorable.
Long-term Relationship with Funding Institute: The successful grant negotiation fostered a strong relationship between the client and the Qatar Foundation, opening doors for potential future collaborations and support.