The EIT Digital Venture Program helps entrepreneurs with deep tech business concepts to develop and finalize their Minimum Viable Product (MVP), establish their startup company, and raise funds with investors. The program is targeted at 20 eligible countries.
The program offers an eight-week pre-acceleration executed by six regional partners: Found.ation in Greece, Startup Wise Guys in Latvia, KTP in Poland, JIC in the Czech Republic and Slovakia, BGI in Portugal, and University of Ljubljana (SEB) in Slovenia. Teams also receive financial support of up to € 25,000 in 3 stages, from MVP to incorporation to raising funds with an investor.
The EIT Digital Venture Program 2021 will be held online and is open to multidisciplinary teams of at least two individuals with an innovative business idea, PoC, or prototype in the fields of Digital Industry, Digital Tech, Digital Wellbeing, Digital Finance, or Digital Cities.
Why You Should Join the EIT Venture Program
By applying to the Venture Program, you participate in a two-stage competition. In the first stage you have the chance to win a “Growth Package”:
- An 8-week virtual Pre-Acceleration Phase
- training in entrepreneurial skills
- support to develop and finalize your MVP from entrepreneurial experts
- A two-day Bootcamp
- € 5,000 cash prize
Teams who successfully complete the program, incorporate on time and present a strong MVP, qualify for the first tranche of the Final Prize of 10,000 €. The first 10 ventures across all regions that have received the first tranche of the Final Prize and that have found an investor (investing at least 50,000€) by 21 November 2021 will receive an additional 10,000 €.
What the EIT Digital Venture Program offers you
Successfully Supporting Digital Tech Teams
In the last 3 years, the EIT Digital Venture Program has invested in the creation of 66 tech startups and supported over 200 entrepreneurs in an early stage of their development before incorporation. Many of these teams have attracted investors during or shortly after the pre-acceleration program. In 2020, in less than three months, eight teams from six European regions successfully raised close to €400,000 from private investors. Based on this achievement, the eight startups were also awarded an additional €80,000 in co-investment from EIT Digital.
Karolina Czaplicka, co-founder of Subjective Guide, notes: “We are extremely grateful to the EIT Digital Venture Program for taking a chance on us in such an early stage of our startup journey. They provided us with essential knowledge on how to start and grow our business and gave us financial support without which we would not be able to build our MVP and validate our idea.”
The EIT Digital Venture Program is today established as a launchpad for the most ambitious entrepreneurs in Europe’s emerging markets.
How You Can Join the Program
Before you apply, quickly check if you are eligible! The EIT Digital Venture Program is looking for:
- Multidisciplinary teams of at least two individuals with an innovative business idea, PoC, or Prototype in the fields of Digital Industry, Digital Tech, Digital Wellbeing, Digital Finance, or Digital Cities.
- All team members must be fully-fledged members of the team and must be listed in the online application form.
- Team members must be resident in one of the following 20 countries: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, North Macedonia, Greece, Malta, Montenegro, Latvia, Lithuania, Poland, Portugal, Serbia, Slovakia, Slovenia, Romania, Ukraine. You have not incorporated your venture yet.
3 Simple Steps To Submit Your Application
You’re eligible to apply? Great, here’s what’s next:
- Read carefully the Rules & Regulations for your regional edition.
- Complete the application form:
- Select the edition related to your country
- Describe your team
- Explain the business model, the technology underlying your product/solution, and your innovative idea
- Upload your pitch deck
- Submit your application by April 8.
Sounds good? Then visit the EIT Digital Venture Program’s website for more information & apply today!
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