If I hadn’t gotten the proof-of-concept funding, I wouldn’t have been able to take that step.
Proof-of-concept funding scheme is a loan, provided by the Netherlands Enterprise Agency
aimed at innovative businesses and start-ups. The proof-of-concept funding scheme is the step from an idea
to a proof of concept, that focusses on the questions of a potential investor.
TrueKinetix has benefitted from the proof-of-concept funding scheme. But what is their idea?
And did it yield any results? TrueKinetix’ innovation is that we make cycling feel
much more realistic. We use robotics instead of the traditional flywheel
and that is how we can simulate the pedal force more realistically. And
we have applied this technique to two products: The TrueBike and the TrueTrainer.
The proof-of-concept funding is meant for innovative start-up businesses. The aim of the proof-of-concept funding
of-concept funding is to help develop a new technological product or process.
We learned about the proof-of-concept funding because I, when I started, I only had
an idea and I had quit my day job and so I had to find a way to finance this.
So I started researching and I quickly found the proof-of-concept funding and
there were to very strict, but very fair gentlemen who really helped me out
to write a good application. The benefits of the proof of concept funding scheme are that our critical view,
helps entrepreneurs can perfect their business case. Additionally, it is completely funded and
the business becomes interesting for more investors. So it is really simple. It
made it possible for us to start. Because of the proof-of-concept funding
I was able to order my first building model at a workshop. And I was able to hire my first employee.
I wouldn’t have been able to take that step if I hadn’t gotten the proof-of-concept funding.
After the proof of concept funding, we were also able to qualify for the Innovation credit.
With that funding, we made the first real bike and our product portfolio has since
expanded to a trainer, we are also expanding internationally. We are here
in our factory where we daily produce trainers and bikes and we are benefitting enormously
from the Innovation Award that we won at the Consumer Electronics Show in Las Vegas,
the CES, that is being held in January.
Isn’t this amazing! This is where it all started. And look where they are now.