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.
- 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.
- 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.
- 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