Getting awarded by the EIT Digital Problem represents a substantial milestone for scaleups on the verge to improve and expand internationally. Europe’s flagship Deep Tech competition for rapidly-increasing electronic scaleups, the EIT Electronic Problem, covers a large variety of matters spanning from Digital Finance, Electronic Tech, and Electronic Wellbeing to Digital Towns and Electronic Industry. Wim Van Hecke, CEO & co-founder of 2020 winner Icometrix notes the significance of profitable the EIT Digital problem: “This is a incredibly prestigious award. Having followed my competitors’ pitches by now produced me sense humble to be among the these finalists coming from these kinds of a extensive vary of sectors. This range also exhibits a strength of Europe that we sometimes overlook.”
Due to the fact its start in 2014, the EIT Digital Obstacle has attracted far more than 2,500 entries from all around Europe. Well known award winners include KONUX, Medicus.AI, or SidekickHealth, digital know-how scaleups that have turn into internationally successful companies. In 2020, a document amount of 403 scaleups from 32 international locations used for the opposition. Nearly 40% of applicants, 55% of the 20 finalists, and 60% of winners function girls as founders or C-amount executives. With common revenues of €1.4M, average funding of €7.6M, and normal staff of additional than 40, the 2020 laureates are the most mature prize winners in the 7-calendar year historical past of the Challenge. In general, the EIT Electronic Accelerator has supported startups and scaleups from 18 countries that have lifted in excess of 1 billion euros in investment.
How the EIT Electronic Problem supports your Scaleup to Develop Internationally
“It is our ambition to enable firms conquer the fragmented European current market and productively grow throughout the continent. The EIT Electronic Problem is our crucial instrument to discover the finest European deep tech entrepreneurs and assist them, by our Accelerator, to elevate funds, obtain new markets, and scale up internationally. We help them to turn into leading organizations on the international market place and greatly enhance Europe’s competitiveness in digital,” claims EIT Electronic Chief Innovation Officer Chahab Nastar.
“I can see all the new prospects that are opening up for Wishibam across Europe thanks to EIT and it is quite extremely thrilling. This is really a team victory that is going to do so considerably for our growth, we are truly thrilled. […] I consider we will reward a good deal from the accelerator’s community to access consumers in parts of Europe where by we have not nonetheless experienced a possibility to display our potential. The accelerator will also assist us satisfy traders from numerous backgrounds and give us a far better appreciation of the distinct fundraising choices that exist across the continent.” explains Charlotte Journo-Baur, CEO of 2020 winner Wishibam.
Get Funds Prizes & Customized Progress Help totaling €250,000
This yr, the competition intensifies with a single winner across all concentrate regions. “We will pick out 20 providers out of all applicants and invite them to an special celebration in the autumn the place they will pitch to a jury of significant-profile corporates and buyers,” states Shehryar Piracha, Head of the EIT Digital Accelerator. “A whole of 3 winners will be introduced for the duration of this event, a single Problem winner and two runners-up. They all will acquire a total 12 months of tailored guidance from the EIT Electronic Accelerator, valued at €50,000. On best of that, the Obstacle winner will acquire a income prize of €100,000.”
The EIT Digital Accelerator was recognized as one particular of the five Entire world Best General public Business enterprise Accelerators and the program with the finest pan-European attain, and as Top 4 European Accelerator brand in the Startup Heatmap Europe report. The Accelerator supports the EIT Electronic Challenge winners in scaling up their business enterprise by encouraging them safe international buyers in target markets and elevate progress funding. In addition, your company gains:
- Obtain to Global Marketplaces
- Accessibility to Funding & Techniques
- Accessibility to Networking with 200+ Pan-European Innovation Partners
- Intercontinental Visibility
Eligibility Criteria for the EIT Digital Obstacle 2021
This 12 months, the EIT Digital Problem normally takes place for the eighth consecutive yr and focuses on Deep Tech electronic scaleups with a differentiating product or service featuring, leveraging innovative, tricky-to-reproduce electronic systems that gas Europe’s digital transformation in 5 main thematic regions:
- Digital Technologies: Inventing the digital long term with core technologies supplying safe, strong, responsive, and clever communications and computation.
- Digital Metropolitan areas: Serving the towns with electronic systems addressing city mobility, citizen inclusiveness and engagement, and city safety.
- Digital Field: The electronic transformation of the field, from generation to logistics to retail.
- Digital Wellbeing: Safeguarding well being for the youth, the doing work experienced, and the elderly by analyzing sensor details.
- Electronic Finance: The disruption of digital transactions and institutions with systems that enable transparency, performance, safety, and have faith in.
In terms of technologies – the doorways are open to all ranging from Artificial Intelligence, Robotics, Drones, and Blockchain to 3D Printing, Large Details, IoT, and far more!
Your business is prepared to be a part of the problem if:
- Nationality: You are integrated in the EU 27 + Horizon Europe affiliated international locations (comprehensive list right here)
- Impressive Product/Service: You have an impressive digital product or provider in one particular of the 5 Deep Tech thematic locations:
- Electronic Tech, Digital Marketplace, Digital Finance, Digital Cities, Digital Wellbeing
- Additional Info on the Emphasis Area/Categories listed here
- Founding Year: Your corporation is significantly less than 10 many years outdated (01/01/2011)
- Maturity: Your organization is at the advancement phase and ready to scale internationally, to be proven by meeting one particular of the following requirements:
- bare minimum earnings of €300,000 in 2020, or
- minimum amount earnings of €300,000 in 2021 until the day of submission, or
- minimal €2,000,000 of whole funding
To additional assistance women in tech, EIT Electronic in particular encourages female founders and leaders (CXO) to be part of the Obstacle in 2021.
Timeline of the EIT Electronic Challenge
- Submission Deadline: 10 May well 2021
- Finalist Choice 10 May – July 2021
- Finalists Announcement: July 2021
- Remaining Celebration: September 2021
Are you all set to scale your Deep Tech company internationally? Use your opportunity and implement by 10 Could 2021 via the EIT Electronic Problem web site!
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