EIT Digital Venture Program 2023: Applications are open!

The EIT Digital Venture Program supports entrepreneurial teams from 22 countries with deep tech business ideas to finalise their MVP and start their venture.

The EIT Digital Venture Program East Balkans edition supports the establishment of ventures in Greece, Cyprus and North Macedonia.
All the selected teams will receive financial support of up to €25,000 in 3 stages from MVP to incorporation up to finding a first investor. The program also offers an 8-week online pre-acceleration program.
International growth support for European entrepreneurs:

  • Get financial support of up to €25,000
  • Develop your Minimum Viable Product
  • Establish your deep tech venture
  • Get business development help from top international experts
  • Join Europe’s leading innovation ecosystem

Why you should apply:
The EIT Digital Venture Program helps entrepreneurs with deep tech business ideas to:

  • Develop and finalise their Minimum Viable Product (MVP)
  • Establish their startup company
  • Find a first investor

How it works:
The Venture Program takes you from idea to investment within less than a year. The ambitious trajectory takes entrepreneurs with a brilliant idea to build a technical MVP, test it in the market and raise additional funding. With each accomplishment, you unlock further benefits.

 1. Start off with the Growth Package

  • a two-day virtual Bootcamp on early May
  • a 8-week Pre-Acceleration Phase
  • training in entrepreneurial skills
  • support to develop and finalise your MVP from entrepreneurial experts
  • €5,000 cash prize for joining the program

2. Succeed with your MVP
Teams who successfully complete the program, incorporate by September 1st and present a strong MVP, qualify for the first tranche of the Final Prize of €10,000.

3. Find a follow-up investor
The first 10 ventures across all regions that have received the first tranche of the Final Prize and that have found an investor by the 26th of November 2022 will receive an additional €10,000 prize.

The East Balkans edition of the program is designed and implemented by Found.ation.
Structure and key milestones of the program:

  • Deadline for submissions: 16th April 2023
  • Shortlisted teams will be required to take part in a video conference interview
  • The selected teams will take part in an online 2-day Bootcamp, between the 10th and 20th of May 2023
  • The teams will go through an 8-week virtual mentoring phase provided by experienced mentors
  • In early July 2023, the teams will have to present their progress and pitch on a Demo Day
  • The teams will receive €5,000 upon selection. Those who complete the program will receive an additional €10,000. The first 10 ventures across all regions that have successfully completed the program and have found an investor by the 26th of November 2023 will receive an additional €10,000.

Who can apply:

  • Multidisciplinary teams of at least two individuals with an innovative business idea, PoC or prototype in the fields of Digital Industry, Digital Tech, Digital Wellbeing, Digital Finance or Digital Cities.
  • Only teams who have not yet established their company as a legal entity can apply.
  • Residents of the following 22 countries: Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Hungary, Italy, North Macedonia, Greece, Malta, Montenegro, Latvia, Lithuania, Poland, Portugal, Serbia, Slovakia, Slovenia, Spain, Romania, Ukraine.

All participating teams commit to give 5% equity to EIT Digital after incorporation independent of the stage they reach in the Venture Program.

How to apply:

  • All applications must be submitted via the online Platform in English in writing – no paper submissions will be considered.
  • Submissions must be received no later than 16th April 2023, 23:59:00 CEST
  • Please read carefully the Rules and Regulations of the EIT Digital Venture Program before submitting your application.
  • The program is equity based and participating teams commit to give 5% of shares of any established venture resulting from the program.

Apply by 16th April 2023 here: https://www.f6s.com/eit-digital-venture-program-2023/apply

Original post: https://thefoundation.gr/2023/02/20/eit-digital-venture-program-2023/