How Solo Entrepreneurs Can Finance the Product Masterclass Through the Kompass Grant Program

As a solo entrepreneur, you often face the challenge of investing in professional development while maintaining financial stability. The Kompass Grant Program provides an ideal solution, offering financial support for personalized training programs – and the Product Masterclass is one of them!

In this blog post, we’ll show you how you can finance your training with Kompass and outline the steps involved.

‍

What Is the Kompass Grant Program?

The Kompass Program is a funding initiative by the German Federal Ministry of Labor and Social Affairs, co-financed by the European Social Fund Plus (ESF Plus). It is specifically designed to help solo entrepreneurs secure their professional future.

‍

Who Qualifies as a Solo Entrepreneur?

Solo entrepreneurs are individuals who run their own business as their primary occupation and either:

• Have no employees, or

• Employ people whose combined working hours equal no more than one full-time equivalent (FTE).

‍

To qualify for funding, solo entrepreneurs must meet the following criteria:

• Residence and business activity in Germany

• Primarily self-employed: At least 51% of income must come from self-employment.

• At least two years in business: The business must have been continuously active for at least two years.

• Compliance with EU “De-minimis” aid rules: Grants received within three fiscal years must not exceed €200,000.

‍

Who Can Apply for Funding?

The funding is available to solo entrepreneurs who:

1. Meet the eligibility criteria:

Proof such as tax assessments or business registrations must be provided.

2. Are not excluded:

Individuals undergoing insolvency proceedings or receiving government welfare are not eligible.

‍

What Does the Program Offer?

• Funding for training: Up to 90% of the costs, with a maximum of €4,500 net.

• Guidance and support: Local service centers help you find suitable training and issue a Qualifizierungscheck (qualification check).

• Flexible access: Consultations can be conducted in person, over the phone, or online.

‍

Why the Product Masterclass Is a Perfect Fit

‍

The Product Masterclass is an eight-week training program designed to help product managers improve their skills and master the entire product development cycle. Topics include:

• Customer orientation,

• Product strategy and roadmapping,

• Collaboration with stakeholders and developers.

These topics align perfectly with Kompass’ funding criteria, as the Masterclass develops both technical (hard skills) and personal (soft skills) competencies crucial for product people.

We had participants in the past, who successfully applied to the program.

‍

Step-by-Step Guide to Funding

‍

As the program is not self-explanatory, you will find a handout here to guide you through the process. Under the following link you will also find a video that could help with the registration:
www.youtube.com/watch?v=IYR9lnMln5I

1. Check Your Eligibility

Ensure you meet the Kompass Program requirements, such as residence in Germany, two years of business operation, and FTE limits.

View the full criteria here.

2. Contact a Service Center

Reach out to one of the nationwide service centers. They will review your eligibility, provide tailored advice, and help you select the right training. Find a list of service centers here.

3. Obtain a Qualification Check

After the consultation, the service center will issue a qualification check. This document authorizes your participation in the training. Note that you must initially finance the training yourself.

4. Attend the Product Masterclass

Complete the Masterclass within six months of receiving the qualification check.

5. Submit a Reimbursement Application

After completing the training, submit the necessary documentation (e.g., invoice and certificate of completion) via the Z-EU-S funding portal to the grant authority. Upon approval, 90% of the training costs will be reimbursed.

‍

Frequently Asked Questions (FAQs)

1. Who is eligible for funding?

Solo entrepreneurs residing and working in Germany, who are primarily self-employed, have been in business for at least two years, and employ no more than one full-time equivalent (FTE). Exclusions include individuals undergoing insolvency proceedings or receiving government welfare.

2. How much funding is available?

The Kompass Program reimburses up to 90% of training costs, with a maximum of €4,500 net. Travel, accommodation, and similar expenses are not covered.

3. Do I need to pre-finance the training?

Yes, you must initially cover the training costs yourself. After completing the program and submitting the necessary documents, eligible costs will be reimbursed.

4. What documents are needed for reimbursement?

The following documents are required: Qualification check, certificate of completion or participation, invoice from the training provider, proof of payment, proof of self-employment and business operation duration.

5. What is a qualification check?

The qualification check is an official authorization to participate in a funded training program. It is issued by a service center after a consultation and is required to apply for reimbursement.

6. What types of training are eligible for funding?

Training that enhances professional or personal skills relevant to your business (e.g., product management, communication). Programs must be at least 20 hours long and cannot begin before the qualification check is issued.

7. What types of training are not eligible?

The following are not eligible for funding: Language courses (except for job-related language training), health and wellness courses, individual coaching sessions, self-paced online courses without interactive elements.

8. How do I find the right service center?

A list of service centers is available here. You can choose any center, and consultations can be conducted in person, over the phone, or online.

9. How long do I have to complete the training?

You have six months from the issuance of the qualification check to complete the training and submit the reimbursement application.

10. Can I register for the Product Masterclass before receiving the qualification check?

No, you must wait until the qualification check is issued before registering. However, you can reserve a spot in the class without commitment.

‍

Sources:

Official Page of ESF (German): https://www.esf.de/portal/DE/ESF-Plus-2021-2027/Foerderprogramme/bmas/kompass.html

FAQ Document (German): https://www.esf.de/portal/SharedDocs/PDFs/DE/Programme-2021-2027/BMAS/kompass_faq_solo_selbststaendige.pdf?__blob=publicationFile&v=4

List of "contact points": https://www.esf.de/portal/SharedDocs/PDFs/DE/Programme-2021-2027/BMAS/kompass_anlaufstellen.pdf?__blob=publicationFile&v=34

One of the contact points websites: https://ifb.uni-erlangen.de/kompass/

An intro video which explains the first steps: www.youtube.com/watch?v=IYR9lnMln5I

‍