- Third annual EIT Digital Challenge seeks startups ready to scale up, access additional finance and enter new markets
- Startups can apply in five digital technology categories
- Prizes packages include access to EIT Digital’s pan-European innovation network and €50,000 for the winner in each category
- Submission deadline: 31 July 2016.
EIT Digital has launched its third annual pan-European startup contest, the EIT Digital Challenge, to identify the next wave of top European startups and help them to scale-up. UK-based startups can apply with their innovative digital technologies in one of five digital technology categories:
• Digital Industry
• Digital Cities
• Digital Wellbeing
• Digital Infrastructure
• Digital Finance
The best ten teams in each category will be invited to pitch in front of expert juries at one of five final events which will be held in different cities across Europe in autumn 2016. London will host the Digital Finance (Fintech) Final in November.
Startups will compete for a unique prize package: the three best teams in each category will get access to EIT Digital’s pan-European innovation network with more than 130 partners that bring together Europe’s leading corporations, SMEs, startups, universities and research institutes in the field of digital technology. They will also have the chance to join the EIT Digital Accelerator for a full year. The winners in each category will also receive €50,000 in cash.
Previous UK winners include Soma Analytics (UK) with an app and a platform that measures stress on a scientifically validated basis and provides personalised interventions for employees and analytics for employers. Soma now has clients in three European countries and was named “Europe’s best mobile health Startup 2015” by the European Commission.
Soma Analytics CEO, Johann Huber, commented: “Being part of the EIT Digital Challenge and then becoming part of the Accelerator has been great for Soma Analytics. We’ve had a whole range of support from introductions to potential clients to help with successful funding bids as well as workspace and access to new markets. Startups who are ready to take the next step and scale-up should definitely apply!”
Dennis Moynihan, UK Director, EIT Digital explains;
“We want to find and work with the UK’s most innovative digital startups to help them grow their business and enter new markets – in Europe or beyond. From Wellbeing to fintech, we want to hear from dynamic startup teams with the drive to take their product and services beyond their domestic market.”
“European startups face a number of barriers including the highly fragmented European market and investor landscape. It is crucial that we actively help startups to ensure European innovation leads the way globally. Through our Accelerator, we support early stage scaleups to gain access to new markets and new customers, as well as providing access to finance by leveraging our pan-European investor network,” Willem Jonker, CEO EIT Digital, adds.
About the EIT Digital Accelerator
The EIT Digital Accelerator comprises a team of around 40 experienced business developers and finance experts operating from 13 cities across Europe as well as a hub in San Francisco. Since 2012, they have supported a total of 233 startups to access new markets and helped them raise more than €67 million in investment to date. At present, more than 120 early scaleups from across the continent are part of the Accelerator.
About EIT Digital
EIT Digital is a leading European digital innovation and entrepreneurial education organisation driving Europe’s digital transformation.
EIT Digital delivers breakthrough digital innovations to the market and breeds entrepreneurial talent for economic growth and improved quality of life in Europe. It does this by mobilising a pan-European ecosystem of over 130 top European corporations, SMEs, start-ups, universities and research institutes.