The EIT Digital Challenge launched the call for participants to compete, looking for the best new European companies in the deep tech area who are ready to enter into an internationalization program.
EIT Digital invites European companies to participate in this year’s edition. The competition focuses on state-of-the-art technologies built on unique and differentiated scientific or technological advances that are often protected or difficult to replicate. The deadline for submitting applications is June 14, 2018.
The EIT Digital Challenge is expected to join the deep tech companies in the area (we are talking here about artificial intelligence, machine learning, robotics). EIT Digital Challenge. There are prizes worth a total of 750,000 euros, including global support for growth.
Companies with fast growth who already have customers, so-called scaleups, can compete and fall into one of the five categories: Digital Industry, Digital Cities, Digital Wellbeing, Digital Infrastructure and Digital Finance. Companies must be based in an EU member state, be in the growth stage (with an annual income of over 300,000 euros or at least 2 million euros in total funding) and have up to 10 years from their establishment.
Ten selected companies will receive a full year of dedicated support from the EIT Digital Accelerator, worth 50,000 euros. The best participants will be invited to a final event in the autumn to pitch a pitch to a jury. The winner in each category will receive € 50,000 in cash, so the total prize amounts to 100,000 euros.
In addition, winners will have access to the pan-European innovation network of EIT Digital that has over 150 partners and will benefit from international advertising and visibility through its networks.
The Accelerator has a team of about 40 experienced business developers and finance experts operating from 13 European cities and a hub in Silicon Valley. From 2012 to the present, EIT Digital Accelerator has supported over 270 startups to access new markets and gain funding.