Challenge // EIT Digital

 

EIT Digital Challenge

What is the Challenge?

The EIT Digital Challenge aims to identify the best European deep tech entrepreneurs and help them scale up internationally, supporting the European deep tech ecosystem. 

We’re looking for fast-growing European ‘deep tech’ companies with a differentiated product offering that leverages sophisticated, hard-to-reproduce digital technologies. 

Each year a small group of winners receives waived entry into the 12-month Accelerator Program worth €50,000. They will get dedicated services in international Access to Finance and Business Development by the EIT Digital Accelerator team. 

Applications for the Challenge 2023 will open in the first quarter of the year.

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    Prize package

    The best five companies will receive a full year of tailored international growth support by the EIT Digital Accelerator worth €50,000 to scale up their business.

    • Raise your next Series A or B round from international investors with the support of an experienced Access to Finance team
    • Get coached on your market readiness and go-to-market strategy to support your international goal ambitions
    • Leverage EIT Digital’s 300+ Pan-European network of top European corporations, investors, SMEs, universities and research institutions
    • Gain international visibility through EIT Digital communication channels
    • Get the opportunity to have a seat sponsored by the OEHI.

    FUNDRAISING SUPPORT

    Benefit from the Access to Finance and Business Development support provided by a dedicated team of experienced business developers and financing specialists operating from 17 major European cities and a hub in Silicon Valley. They will support you in growing your business internationally and raising international capital.

    GROWTH SUPPORT

    A full year of tailored international growth support by the EIT Digital Accelerator worth €50,000 to scale up their business.

    PAN-EUROPEAN INNOVATION NETWORK

    Get access to our network of 300+ renowned partners across Europe consisting of corporations, SMEs, startups, universities and research institutes.

    INTERNATIONAL VISIBILITY

    We will communicate your success and share your story through our powerful on- and offline channels and leading European media outlets, generating valuable international exposure for your business.

    Criteria

    Fast-growing technology company with international ambitions

    Company max. ten years old*

    Company incorporated in EU27 or Horizon Europe Associated Countries**

    Growth stage: min. €300,000 in revenue*** or €2,000,000 in funding

    *Company incorporated after 01/01/2012
    **See the full list of countries here.
    ***€300,000 revenue in full year 2021, or until the 30th of June 2022

    Startups in growth stage (scaleups) can apply in five thematic areas: Digital Tech, Digital Industry, Digital Cities, Digital Wellbeing, and Digital Finance. Learn more about them here.

    We will examine the market and internationalization potential of your product or service as well as the quality of your core team. We will also consider the fit of your product or service to our thematic areas and the impact our support could have on your business.

    In addition, you must be prepared to pitch in public. Pitch and application must be done in English. Make sure to read our contest conditions and check the FAQ page. If you have any further questions don't hesitate to contact us at challenge@eitdigital.eu.

    Results of the EIT Digital Challenge 2022

    The 2022 edition of the Challenge was a smashing success!

    • 20 VCs & 20 Scaleups were represented from all over Europe
    • 5 Winners were selected
    • 1 Special prize was awarded in partnership with a corporate sponsor

    Final Event - Highlights Video

    EIT Digital Challenge 2022 - Highlights

    Winners

    Covision Quality: Founded in 2020 in Italy, Covision Quality has developed a solution to automate and scale industrial visual inspection. Its software leverages computer vision and machine learning to allow customers to increase “time to inline deployment” by 20x and to reduce pseudo scrap rates by up to 90%.

    Jentis: Vienna-based Jentis has developed a powerful server-side tracking tool that helps businesses extract complete, accurate, and consistent raw data to accelerate their growth. The technology makes it easy to collect user data in a GDPR-compliant manner. With Jentis server-side tracking, it’s possible to overcome the consequence of deleted cookies and broken data collection – also from ad blockers.

    Loupedeck: Helsinki-based Loupedeck is creating custom consoles designed to make the creative process faster and more intuitive. Loupedeck consoles provide maximum control, accuracy, and productivity for a wide variety of workflows, including photo and video editing, audio composition, design, content creation, and streaming.

    Vottun: Based in Barcelona, Vottun is focusing on helping companies to adopt blockchain technology to improve their current business processes and create new business models. Vottun has developed a platform that provides different blockchain “ready-to-use” solutions and APIs to create value. Vottun’s ready-to-use products go from NFTs to digital credentials, payments certificates, as well as traceability of data in the supply chain or in the circular economy.

    WSense: A spinoff from Sapienza University in Rome, WSense specializes in underwater monitoring and communication systems, based on patented technologies that have pioneered the Internet of Underwater Things (IoUT). WSense’s technologies are at the forefront of underwater wireless networking, enabling multi-modal secure wireless communications and networking among submerged and surface sensing and robotic platforms.

    Corporate sponsor and associated special prize

    EIT Digital Challenge 2022 has been powered by Europe’s leading open computing initiative - the Open Edge and HPC Initiative (OEHI), an ecosystem of companies with the aim to foster the development of an open and feature-rich ecosystem for ARM and RISC-V-based technologies. 

    Multiverse Computing: Based in the Basque Country, Multiverse Computing provides software for financial companies that want to gain an edge with quantum computing. Digital methods usually fail at efficiently tackling these problems. Quantum computing, however, provides a powerful toolbox to tackle these complex problems, such as outstanding optimization methods, software for quantum machine learning, and quantum-enhanced Monte Carlo algorithms.

    Let's keep in touch

    Have ideas for cooperation? Contact us at challenge@eitdigital.eu.

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    Co-Funded by the European Union