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EBRD accepting Proposals for Start-up Innovation Challenge

Deadline: 22-Nov-20

The European Bank for Reconstruction and Development (EBRD) is currently accepting applications for the Start-up Innovation Challenge, its first online competition for high-potential start-ups that have innovated their business models in response to the coronavirus. Innovative early-stage enterprises that have the technology and the potential to scale are welcome to apply.

The EBRD has financed and advised high-potential start-ups in its countries of operation through various advisory and investment vehicles including Star Venture Programme, Early-Stage Innovation Facility, and Venture Capital Investment Programme.

Funding Information

  • A total of USD 500,000 of mixed cash rewards and vouchers for 5 selected startups to cover the costs within the framework of the Star Venture programme including business diagnostics, tailored one-on-one technical advisory, mentoring, access to international investors, etc.

When

  • The competition will be held on 17 December 2020.
  • The applicants that pass the screening test and are eligible to pitch their innovative business models at the competition will be notified individually by 7 December.

Eligibility Criteria

  • Your enterprise is based in one of 30 countries;
  • You have an annual turnover of less than €1 million;
  • You have been in business for less than 5 years;
  • You have the technology and demonstrate a high potential to scale;
  • You must be primarily locally owned and have less than 50% of foreign ownership (e.g. outside of EBRD operating countries.);
  • The enterprise’s main areas of activity fall under any business area except military products or services, gambling, tobacco, and hard liquor;
  • Your area of innovation falls under one of the following categories:
    • Health innovations that help treat, test and monitor the coronavirus outbreak;
    • Lifestyle innovations that improve the environment or quality of life during and beyond the pandemic;
    • Business process innovations in various business areas (e.g. procedures, solutions, products, etc.) that represent a meaningful contribution to improving business operations during the pandemic.

For more information, visit https://bit.ly/38BrUNB

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