On this page you can find the ongoing calls organised by the EIT Digital.
SCALE UP FOR EUROPE
The New European Bauhaus Acceleration Pilot Call
Are you a digital tech company developing innovative solutions that make Europe more sustainable and inclusive, improving citizens’ quality of life? As part of the New European Bauhaus initiative, EIT Digital is looking to identify the most promising high-impact ventures in order to support their business growth and help them become the international gamechangers.
The best 4 companies will receive a full year of tailored international growth support by the EIT Digital Accelerator worth €48,000 to scale up their business and boost social and economic impact for the European community.
Submit your application by August 6, 23.59 CEST.
In order to apply you need to create your profile first, or sign in if you have one. Please notice that you can save your application as a draft and complete it later.
Please provide complete and accurate information during the application process. All information provided will be treated as confidential and used solely for the purpose of identifying the most promising scaleups.
Please see the contest condition here.
If you have any questions, don't hesitate to contact us at email@example.com.
3 Venture Program - Final Prize
3.1 Submission of applications
Submissions are reserved to the ventures - established in one of the EU27 countries or in the UK - by the teams that had been awarded the Growth Package. All applications must be received no later than the 1st September 2021, 23:59:00 CEST.
3.2 Eligibility Conditions
Application is reserved to ventures established by teams that
- have been awarded the Growth Package
- have actively participated in the entire pre-Acceleration Phase (see 1.1)
- have attended the entire two-day Bootcamp on a FULL TIME basis
- have participated in the final Pitch Day
- have incorporated one and just one company based on the project in one of the current 27 EU member states or in the UK.
The selection will be performed by the Venture Program Selection Panel.
3.3 Selection Criteria
Applications to the Final Prize (first tranche and second tranche) will focus on the description of the finalized MVP and customer tests and their quality (2 pages max).
- The MVP must show clear prioritization of "minimum" features and the team must outline the hypotheses on which these are based
- Advanced technological level of MVP (not a "paper-test")
- Data collected for the MVP: prove relevancy in terms of both size and quality
- Based on the MVP a clear product-market fit should be demonstrated, including an analysis of target customers and how the MVP addressed their specific business needs (both quantitative and qualitative).
A least 3 Selection Panel Members will individually review each application and, based on the above mentioned 4 Selection Criteria, assign a score. Each selection criterion will be scored on a scale from 1 to 5 by the Panel members where:
- Poor - criterion is inadequately addressed or there are serious inherent weaknesses
- Fair - application broadly addresses the criterion, but there are significant weaknesses
- Good - application addresses the criterion well, but a number of shortcomings are present
- Very good - application addresses the criterion very well, but a small number of shortcomings are present
- Excellent - application successfully addresses all relevant aspects of the criterion. Any shortcomings are minor.
The maximum score attainable is 20. Individual assessments will be discussed by the Panel members in a consensus meeting to produce the list of the winners of the Final Prize.
3.4 Final Prize Amount
The Final Prize Amount consists of two tranches:
1) Applications with a final score greater than or equal to 16 will receive 10,000 € (the first tranche)
2) A maximum of 10 ventures across all 5 regional editions of the EIT Digital Venture Program in 2021, who
- a. have received or are in the process of receiving a Follow-on Funding of at least 50,000 € from a 3rd party as defined in 3.5a and
- b. have provided adequate proof of it to EIT Digital – according to section 3.5b – before 21th November 2021, 23:59:00 CET.
will receive an additional 10,000 € (the second tranche). The allocation of such second tranche shall be determined on a” first-come-first-serve” basis amongst the ventures participating across all 5 regional editions of the EIT Digital Venture Program in 2021.
3.5 Definitions of Follow-on funding & Adequate Proof
a. Definition of Follow-on Funding
Follow-on Funding is defined as either
- a signed commitment (e.g. term sheet) on the provision of funding of at least 50,000 € in cash by a 3rd party with a clearly expressed interest in acquiring equity in the applicant’s company. Loans, without the intent to acquire equity in the applicant’s company are excluded. Convertible notes with the provision to turn into equity are included.
a signed cash price commitment from a third party of at least 50,000 € granted to the incorporated venture for their achievements.
b. Adequate Proof of Follow-on Funding
Proof of the follow-up financing consists of a written contract signed and stamped by both the incorporated applicant venture and the 3rd party fund provider before 21st November 2021, 23:59:00 CET.
The proof must be provided by electronic means via the submittable platform:
Submissions will be possible from the start of the Final Prize submission period until the 21st November 2021 23:59:00 Central European Time. EIT Digital does not take responsibility for technical problems on the website.
The timestamp of the reception of the proof document as registered by the application portal is decisive for the eligibility, as only the 10 first are eligible.
Applicants across all regional editions will qualify for the second tranche of the Final Prize Amount.
The validity of the provided documentation will be checked and confirmed by EIT Digital’s Legal Department only after 21stNovember 2021. No information on the validity of the provided proof nor about the number of the requests received for the second tranche of the Final Prize will be shared with applicants beforehand.
EIT Digital shall publish in its website (in the section for the Venture Program (http://www.eitdigtial.eu/venture-program) the list of the 10 first ventures having provided adequate proof of the funding as stated in this clause, along with the timestamp of the reception by EIT Digital of the proof documents.
3.6 Selected Venture's Obligations
Selected ventures will receive from EIT Digital the confirmation of their selection and EIT Digital will provide them the following package of contract documents to sign:
The “Venture Program 2021- Final PRIZE AGREEMENT” with EIT Digital (see below), including among others
- Conditions from the Framework Participation Agreement (FPA), and
- the applicable committed set of Rules & Regulations.
Each team member will have maximum three working days, upon request from EIT Digital to sign (each team member) and send electronically the full Venture Program 2021- Final Prize AGREEMENT listed just hereabove.
3.7 Final Prize Payment
Signature of the documents in section 3.6 is required to receive the first part of the Final Prize. Each prize can only be awarded to a single venture.
If all agreements in section 3.6 have been effected, the €10,000 cash prize shall be issued no later than two weeks after.
If applications qualify for the second tranche of the Final Prize, as defined in 3.4, and meet the requirements in 3.5, the second tranche of €10,000 shall be issued no later than 31st December 2021.
The prize winners shall be responsible for all possible taxes, wire transfer costs and other possible costs related to the payment of prize amounts.