The Non‑Dilutive Funding Playbook: Grants, R&D Credits & Revenue‑Based Financing
A step‑by‑step guide to unlocking cash without sacrificing equity—complete with 2025 rates, providers and pitfalls. Equity is the most expensive capital you’ll ever raise. Thankfully, 2025 offers founders a buffet of non‑dilutive options—from EU Horizon Europe grants to revenue‑based term sheets that underwrite ARR in hours. 1. Customer‑Value Financing (CVF) General Catalyst’s CVF program now […]
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