Financing

This chapter addresses the issue of financing in the technology transfer process, from research and development to the consolidation of technology in industrial applications. The different stages of financing and the mechanisms used in each one are described. It includes details of the different stages of an entrepreneurial venture and the required financing according to the stage. In addition to describing financing mechanisms, a variant of the traditional “3F” model is proposed with the inclusion of “Smart,” highlighting the importance of trust and intelligence in early investments. Investment modalities in entrepreneurial ventures, crowdfunding, venture capital, corporate venture capital, and private equity are also discussed. Financing in technology transfer is a challenge that requires different sources of financing at each stage of the process. The government plays a fundamental role in the early stages, while angel investors and other private actors contribute capital and knowledge in later stages. The mentioned investment modalities play a crucial role in the entrepreneurial ecosystem, providing financing, support, and growth opportunities.