EIT Digital Challenge Calls European Deep Tech Scaleups Looking For Growth

Who are Europe’s best deep tech startups? The international pitching competition EIT Digital Challenge answers this question. Organized by EIT Digital, a leading European player in digital innovation and education, the competition supports late-stage deep tech startups seeking to accelerate their growth and awards the ten best companies with prizes totaling €750,000, including comprehensive international growth support.

In total, 25 scaleups in five categories will be selected to pitch their product or service in front of an international jury of corporates and investors at the final event in October.

€100,000 Prize Package, International Visibility, Market Access

Fast-growing startups that already have customers are invited to enter their technology products or services in one of five categories: Digital Industry, Digital Cities, Digital Wellbeing, Digital Infrastructure and Digital Finance. In each category, the best two companies will receive a full year of dedicated support from the EIT Digital Accelerator and, in addition, the winner in each category will receive a cash prize of €50,000. In short, EIT Digital’s prize package offers all things scaleups need to take their business to the next level:

• €100,000 Prize Package: The two best companies per category will gain 12 months in the EIT Digital Accelerator worth €50,000 to scale up their business. On top of that, the first prize winner in each category receives a cash prize of €50,000.
• Market Access & Fundraising Support: The EIT Digital Accelerator supports scaleups in securing international target customers and raising venture capital.
• Pan-European Innovation Network: Access to EIT Digital’s network of 150+ renowned partners across Europe consisting of corporations, SMEs, startups, universities and research institutes.
• International Visibility: Communication of success stories through EIT Digital’s powerful on- and offline channels and leading European media outlets.

“In this fifth year of the contest, we’re offering our most comprehensive prize package ever, with a total value of €750,000, and admitting ten companies at once into our acceleration program,” says Dolf Wittkamper, Head of the EIT Digital Accelerator. The Accelerator comprises a team of around 40 experienced business developers and finance experts operating from 13 cities across Europe, along with a hub in Silicon Valley. Since 2012, the EIT Digital Accelerator has successfully supported more than 270 startups to access new markets and raise capital.

EIT Digital Challenge: Designed For Fast-Growing Deep Tech Startups

“As a European deep tech entrepreneur, it’s hard to find tailored events and startup competitions where people understand your product, so we were delighted to find out about the EIT Digital Challenge,” says Marcel Etzel, who won with his agile cloud platform ApiOmat last year. “Now, it’s great to have the experts of the EIT Digital Accelerator support our international expansion”.

To successfully apply for the EIT Digital Challenge, companies must fulfill the following criteria:

• Fast growing technology company with international ambitions
• Company max. ten years old
• Company incorporated in EU28
• Growth stage: min. €300.000 in revenue or €2,000,000 in funding (€300.000 revenue in the full year 2017, or until the date of application in 2018)

For more information and to apply, visit the EIT Digital Challenge website.

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