FINMIX Design & Fashion (Flanders DC).

Details

• Source: https://www.flandersdistrictofcreativity.be/finmix-design-en-mode-hulp-bij-je-financiering
• Organisation: Flanders District of Creativity (FINMIX tailored to design & fashion)
• Who it’s for: (potential) starters and growth companies in the design and fashion sector with financing needs
• Type: advisory track + panel of financing experts (confidential)

What is FINMIX Design & Fashion?

FINMIX Design & Fashion helps you find the right financing mix when you are looking for funding for start-up, launch, investments or growth. You present your plan to a panel of experts who review your business and financial plan and advise you on the most appropriate combination of funding sources.

Flanders District of Creativity organises this FINMIX panel specifically for the design and fashion sector.

Why is this interesting?

According to the source page, FINMIX can help you:

• map your financing needs (business and financial plan)
• have the feasibility reviewed by experts
• assemble an optimal financing mix
• explore relevant public support measures
• get follow-up while implementing the advice

Who is eligible?

FINMIX is open to small, medium and large companies (starters and growth companies) looking for (alternative) financing.

Specifically for FINMIX Design & Fashion: you operate in the design or fashion sector.

According to the source page, the following principles apply:

• the requested capital is not intended to finance debt
• the requested capital is not intended for private-use investments

What qualifies? (plan characteristics)

To participate, your plan typically needs to:

1) be risky (e.g. insufficient collateral/equity; revenue only later; high working capital needs for rapid growth)

2) be open to alternative financing and/or venture capital

3) involve a substantial capital need (so a mix is possible)

How does the track work?

1) Application

Fill in the application form.

2) Screening

An advisor contacts you and analyses your financing needs based on your business plan and financial plan.

3) Preparing the pitch session

You prepare a short presentation and sign an intent declaration.

• Cancellation is possible up to 14 days before the panel session.
• Late cancellations may incur a no-show fee of €300 excl. VAT (according to the source).

4) Panel session

• 15 min pitch (project + financing need; demo/visuals allowed)
• 30 min review + advice by panel members

After the session, you receive:

• a report of the panel session
• an evaluation form with expert advice
• an overview of possible subsidies

Typical panel: bank (anonymous), public/private venture capital providers, crowdfunding expert, financial consultant with creative-sector experience, and a VLAIO subsidy expert.

5) Follow-up

Optional follow-up conversation to review advice and define next steps.

Practical tip

Make sure you can clearly explain:

• what you need funding for, how much, and when
• how your business model and figures fit together (revenue, costs, cash flow)
• that you are open to combinations (bank + own funds + crowdfunding + (semi)public instruments + venture capital)

FINMIX does not provide a ready-made financing proposal during the session; it is meant as directional advice to optimise your financing mix.