Deadline: 1-Mar-22
The European Institute of Innovation & Technology (EIT) Digital opens its proposal submission period for ‘Innovation Factory 2022’ and accepts Activity proposals throughout 2022. ‘Innovation Factory 2022’ targets entrepreneurial minds planning to launch or boost a deep tech venture.
Focus Areas
The work programme is guided by the EIT Digital Strategic Innovation Agenda 2022-2024, which identifies the five focus areas of the strategy:
- Digital Tech,
- Digital Industry,
- Digital Cities,
- Digital Wellbeing and
- Digital Finance.
EIT Digital Innovation Factory is looking for world-class digital DeepTech Activities led by teams with powerful entrepreneurial drive, to support the next generation of digital companies that can impact Europe and the world’s challenges.
The Innovation Factory 2022 programme supports pan-European entrepreneurial teams from education, research, and business organisations, to launch or boost digital DeepTech ventures. With the support, you will be embedded in the European ecosystem and receive resources, including financial EIT support, to build your venture, package your technology, sign up customers and attract additional investors.
Elements
When it comes to excellence & impact, the following are the key elements:
- Problem / Solution
- Clear description of the business pain/opportunity, aligned with the focus areas, the solution proposed with a capacity to create or disrupt markets; the technology leveraged for the solution and the work plan to achieve the objectives.
- Assets and Freedom to Operate for the venture: Evidence that Activity Partners are providing valuable assets such as IP and technology, enabling its freedom to operate. Typically, Partners provide IP assets to the venture, in exchange for equity in the venture.
- It is mandatory to list each Partner’s contribution to the Activity.
- Elevator pitch video (max. 90 seconds), presented by a member of the venture team, typically the CEO.
- Launching Customer/Pilot: The presence of a launching customer or paid pilot explicitly engaged in the Activity proposal. The customer may provide product specification, market validation as well as to be the first paying customer of the venture.
- Venture team: The new venture team needs to be clearly identified in the proposal. The quality of the team and its effective commitment to the new venture are key requirements to prove the capacity of the venture to grow and scale-up in the future.
- Private financial investment: To assist in the success of the young venture, private financial investment is crucial to manage well assessed and realistic financial needs.
Eligibility Criteria
- EIT Digital is a partnership-based organization.
- Proposers are expected to be or become Partner of EIT Digital.
- Organisations that are not yet a Partner are expected to submit their application for partnership, at the latest, at the submission of the proposal.
- A recommendation to Partners, especially to new Partners, is to be in contact with EIT Digital before the submission date to ensure a clear understanding of the requirements.
For more information, visit https://eit.europa.eu/our-activities/opportunities/eit-digital-innovation-factory-2022