Financing and Funding

The costs of implementing AI solutions in companies can vary depending on the approach, ranging from free versions to significant investments for developing custom solutions. To alleviate the burden of investment, there are various funding opportunities and financing options available.

When implementing AI projects, it is important to carefully weigh the potential benefits against the costs involved. While some AI tools and platforms can be tested and used inexpensively or even for free, more extensive AI implementations, especially the development of custom solutions, often require significant upfront investments. In the early days, many companies invested in AI out of curiosity and for research purposes without seeing an immediate positive return. This is changing as technologies mature, use cases become clearer, and the range of ready-made or customizable products grows larger and more targeted.

Companies investing in AI solutions should start with smaller, quickly implementable use cases to gain experience and achieve successful results. It is important to identify the application areas that generate high benefits with low effort. This is discussed in the Compass topic. Strategy Upon closer examination, larger investments should be carefully planned and ideally made where a significant long-term benefit can be expected.

Funding opportunities

In addition to their own financial resources, companies can also access a variety of funding opportunities and incentives offered by various regional, national, and European institutions.

Unternehmen sollten sich vor der Umsetzung eines KI-Projekts über die verfügbaren Förderprogramme informieren und die Antragskriterien prüfen. Ein überzeugender Antrag sollte klare Ziele, einen detaillierten Finanzierungsplan und eine nachvollziehbare Darstellung des erwarteten Nutzens enthalten. Es kann hilfreich sein, professionelle Unterstützung bei der Identifizierung von Fördermöglichkeiten und bei der Antragstellung in Anspruch zu nehmen: In Bayern unterstützt hierbei insbesondere die Bayerische Forschungs- und Innovationsagentur (BayFIA) mit dem dortigen Förder- und Gründerlotsen der Bayern Innovativ. Sollte für die konkrete Projektumsetzung eine europäische Förderung in Betracht kommen, kann die Bayerische Forschungsallianz (BayFOR) - ebenfalls eine Partnereinrichtung der BayFIA – bei der Suche sowohl nach geeigneten Kooperationspartnerinnen und -partnern, als auch nach passenden Ausschreibungen sowie bei der Konzeptionierung und Abfassung des Antrags bedarfsgerecht und in der Regel unentgeltlich unterstützen. 

Venture capital

Another special source of financing is investments from venture capital investors (Venture Capital = VC). VCs invest in promising start-ups and companies that develop innovative technologies. For example, if a new business area with new solutions is to be created with AI, a spin-off with the participation of a VC can be an interesting approach. In this way, not only financial resources can be provided, but also valuable expertise and connections can be made in networks.

The aforementioned sources of capital are designed to support companies in the implementation and development of AI technologies. Further information that can help companies obtain financial support for their AI projects can be found in the download portal at the end of this compass topic.

It is crucial for companies to consider not only the immediate costs but also the long-term benefits that AI can bring. Finding the right financing strategy can make the difference between a successful and an unprofitable AI project. Companies that invest strategically and thoughtfully in AI, apply for grants, or attract a venture capitalist may secure important competitive advantages.

You can find this and many more information on the topic of "Financing and Funding" in our download portal.