The EIT Digital Challenge is now open for entries. EIT, a leading European player in the field of digital innovation and training, invites European deep-tech companies to enter its competition.
Since its launch in 2014, the EIT Digital Challenge has attracted more than 1,600 entries from 27 EU countries. Most of the winning scale-ups have gone on to become internationally successful companies. Already-existant companies, so-called “scale-ups,” can apply for a place in the annual EIT Digital Challenge. They can enter their successful technology products in one of five categories. These categories are Digital Industry, Digital Cities, Digital Wellbeing, Digital Infrastructure and Digital Finance.
Thousands in prize money
“In this, the fifth year of the contest, we’re offering our most comprehensive prize package ever. There is a total value of €750,000. We will also be admitting ten companies at once into our acceleration programme,” says Dolf Wittkamper, Head of the EIT Digital Accelerator programme. This programme comprises a team of about 40 people. These experienced business developers and financial experts operate from 13 cities across Europe. There is also a hub in Silicon Valley. Over the last six years, this programme has helped more than 270 startups access new markets and raise capital.
Focus on cutting-edge technology
Both the Accelerator and the competition focus on deep-tech innovations. These are cutting-edge technologies which are built around unique and differentiated scientific or technological advances. They are also often protected, or difficult to reproduce. “Deep-tech scale-ups develop solutions that are crucial to Europe’s future. These solutions fuel digital transformation,” says Chahab Nastar, Chief Innovation Officer of EIT Digital. “Venture capital investment into deep-tech companies is growing fast. Even so, these companies face unique challenges. The winners will receive the specific support that they need to acquire European customers and raise capital. This will be done within the EIT Digital Accelerator programme.”
Who can apply
To successfully apply for the EIT Digital Challenge, companies must:
- Be based in one of the member states of the European Union.
- Have to be in the growth stage with a proven annual revenue of more than €300,000 or at least €2 million in total funding.
- Be in their first ten years of existence.
The best entrants will be invited to pitch to a jury of experts later in the year.
The deadline for applications is 14 June 2018. For further information and an application form, please visit www.challenge.eitdigital.eu