PROMETHEUS International Startup Competition 2022

We are happy to announce the launch of the “PROMETHEUS International Startup Competition 2022”, in the domains of Digital Transformation and Sustainable Development. The competition aims at embracing early-stage business ideas leading to either innovative startups or social entrepreneurship approaches including new applications and technological ideas, through a comprehensive mentoring phase with world-leading experts.

The PROMETHEUS International Startup Competition 2022 is organised within the context of the PROMETHEUS project (https://hei-prometheus.eu/), which is funded by the European Union, under the EIT HEI Initiative (https://eit-hei.eu/).     

Emphasis will be placed not only on awards but on the systematic assistance and finding of resources for startups in the long run. The best business ideas will be awarded, widely publicised and further supported for their implementation through associated incubators, accelerators and funding agencies. The competition is supported by mentors from the PROMETHEUS Network, comprising leading academics and industry / public sector executives, who will provide their advice for the development of business ideas.

Competition Stages 

The competition is conducted in three stages: a) submission of initial ideas, b) submission of business plans by the teams that qualified and c) final presentation of the teams and ideas that stood out from the second stage.

The activities that constitute the competition are conducted mainly via the PROMETHEUS Entrepreneurship Acceleration Platform: 

https://hei-prometheus.eu/entrepreneurship-acceleration-platform/

Participating Tracks

The participants of the competition can fit into one of the following Tracks: 

i) Track A –  Students of a university program of study (undergraduate, postgraduate, doctoral candidates, postdoctoral), individually or in teams, in which the majority of members have the above qualities;  

ii) Track B – Operating research teams (researchers, PhD and postdoctoral candidates, students, or graduates, but also faculty members) who will propose business ideas for the commercial exploitation of research results that have been completed;

iii) Track C – Individuals/ Citizens, individually or in teams, who do not fall into Categories A or B, and who want to come up with innovative business ideas related to the competition.

Thematic Areas

Proposals are submitted in one of the following thematic areas, which are aligned to the PROMETHEUS project objectives:

  • Digital Transformation: e.g., data-driven entrepreneurship, digitally-enabled business models and digital transformation in new digital products & services.
  • Circular Economy: e.g., circular economy solutions and management, sustainable materials, circular industries, cities, and buildings, utilisation of technology in circular economy as well as the relation between climate change and circular economy.
  • Smart Manufacturing: e.g., smart manufacturing technologies, smart and green connection, Industry 4.0, computer integrated manufacturing as well as smart and sustainable product development and management.
  • Environmental Protection: e.g., environmental awareness, sustainable development, the “reduce, reuse, recover” policy, waste and wastewater streams, treatment & valorization methods and finally the environmental monitoring and protection.
  • Bio-Economy: e.g., strategic innovation in the area of bioeconomy, biobased economy, biotechonomy, bioresources management as well as SMART integration of bioeconomy to circular economy.
  • Climate Change: e.g., climate mitigation, climate adaptation, climate sustainability, “smart climate” integrations, communicating climate change as well as policy making aspects related to climate change.
  • Sustainable Development: other innovative ideas or solutions for Sustainable Development, relating to the 17 United Nations Sustainable Development Goals (https://sdgs.un.org/goals).

Benefits & Awards

The teams/ideas that will win in their respective category and/or thematic area will receive the following benefits and awards:

  1. Publicity – All teams that will be distinguished 1) will be published through the website of the competition and related publications, 2) will have access to mentors to optimise their idea and seek further funding or other assistance, 3) will have access to support infrastructures and digital tools. 
  2. Mentoring – PROMETHEUS will mobilise a network of 50 high calibre, international market experts that have crystallised general or special business experience. The mentors of PROMETHEUS will assist in shaping an idea, through the provision of educational and consulting work. 
  3. Seed financing/ monetary prizes – PROMETHEUS will distribute 25.000 euros to the best business ideas, as they will emerge after the final stage of the competition. This seed financing ranging from 1.000 to 10.000 per idea/ team will be given in the form of covering the costs for the further preparation, dissemination or implementation of the business idea, without any other obligation by the teams.   
  4. Exploitation of direct market opportunities with PROMETHEUS network organisations from the public or private sector, participating in the activities of PROMETHEUS. Organisations can state their needs that can potentially be met by startups or actions, and then  act as angels for an idea.
  5. Roadshow of later stage Startups to our team of Venture Capital and Angel Investors in order to attract interest for supporting an idea, financing it or providing an important service or resource.
  6. Utilisation of EIT community programs (Summer / Master / Doctoral Schools) and  tools such as (indicatively) the AGORA, a new social network and open innovation platform and Skills.move Learning Platform of EIT Manufacturing, Digitalised Testbeds and Skills for Future (Cross-KIC activities)​.
  7. Scholarships (i.e. for the admission in a Master program) offered by the consortium HEIs or by the supporters of PROMETHEUS, will be announced during the competition.

Timeline

  • Deadline for submitting ideas (first stage): 31 July 2022
  • Notification of the ideas/ teams that will proceed to the second stage: 22 August 2022
  • Deadline for submitting complete business plans (second stage): 1 November 2022
  • Notification of the ideas/ teams that will proceed to the final stage: 15 November 2022
  • Presentations by the finalist teams, evaluation, and awards: December 2022

Stay updated

Access the competition’s dedicated page: 

https://hei-prometheus.eu/entrepreneurship-acceleration-platform/the-competition/

Our 2nd online Information Day has been scheduled for 8th June 2022 to elaborate on the PROMETHEUS Competition, Network and Tools. Stay tuned for more!

Follow PROMETHEUS through our website and social media in order to stay updated on the PROMETHEUS International Startup Competition: