FAQ

Please make sure to read our Contest Conditions. For your convenience, we have collected answers to the most common questions below:

Who can apply?

Innovative scaleups incorporated in one of the 28 member states of the European Union are eligible. They must have revenues of min. €300,000 in 2016 or equity investments of more than €2 million. The companies also need to be in operation for less than ten years.

What are the deadlines?

The call for applications will open on September 1 and close on October 8, 2017 at 23:59 CET. Due to a tight schedule, we will not be able to offer a deadline extension.

What information has to be provided?

You will have to provide information regarding your company and team, your innovative technology, your business model, your target market as well as your financial estimates.

Can I apply in more than one category?

You can only apply for one category. We therefore recommend to carefully read the category descriptions. However, if our experts feel you are a better fit for another category, we will inform you and move you to that category.

How are you evaluating applications?

All submissions will be evaluated by internal and external industry experts. 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 categories and the impact our support could have on your business.

How do you deal with Intellectual Property?

Your information is treated with absolute confidentiality. The information you provide will be used solely for the purpose of selecting the most innovative scaleup in the frame of this contest.

When will I be informed about the status of my application?

After the end of our application phase, our experts will do a first review based on the information that was submitted. Roughly two weeks after the application phase, a shortlist of companies will be invited to 30 minute calls with our evaluators. After these calls, the finalists will be selected and announced on November 6.

What if I am selected for the final event?

If you are among the lucky finalists selected for one of our five events, you will have to organize your trip to the respective final event that you have been chosen for (a lump sum of €1,000 for travel expenses will be covered). You will have to prepare a pitch in English and be ready to present in front of our expert jury. Any details regarding the timing and setup at the final events will be sent to you in due time.

What about travel expenses?

You will receive a lump sum of €1,000 to cover your travel costs. The amount will be transferred to you after the final events. We do not require any receipts or bills from you. No additional costs will be covered.

What is included in the €100,000 prize package?

Each winner of the EIT Digital Challenge receives an international growth package worth €100,000. This package includes 12 months of dedicated support in the EIT Digital Accelerator. Our team of experienced business developers and financing specialists will support you in securing international target customers and providing fundraising support. The regular base fee of €50,000 for the Accelerator program will not apply for the winners as it is part of the prize package. However, success fees for successful deals and investments facilitated by our Accelerator team do apply. In addition, the winners will receive €50,000 in cash. We also provide greater international visibility through our powerful network channels and leading European media outlets, a trip to Berlin for an exclusive onboarding event and access to the pan-European EIT Digital innovation network.

Who is part of EIT Digital’s pan-European network?

For more infomation, please click here.

Where can I find more information on the EIT Digital Accelerator?

For more information, please click here.

How can I reach you if I have a question that hasn’t been answered here?

Please contact us anytime at challenge@eitdigital.eu

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