EIT DIGITAL CHALLENGE 2020

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 27 member states of the European Union, United Kingdom, or one of the Horizon 2020 associated countries are eligible. Companies need to be in the growth stage, which has to be proven by showing either minimum revenues of €300,000 in 2019, or in 2020 until the date of application, or by having raised total funding of min. €2,000,000.

The competition is focusing on ‘deep tech’ scaleups, broadly defined as technology companies with a differentiating product offering, built around unique scientific or technological advances which are often protected or hard to reproduce. Company’s solution must be applicable to one of the 5 thematic areas: Digital Industry, Digital Finance, Digital Cities, Digital Wellbeing and Digital Tech.

Lastly, the company needs to be in operation for less than ten years.


What are the deadlines?

The call for applications will open on 23 April 2020 and close on 7 June 2020 at 23:59 CEST.


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.


How are you evaluating applications?

All submissions will be evaluated by experts from EIT Digital. 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.


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 scaleups 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 evaluators 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 a call with our evaluators. After these calls, the twenty finalists will be selected and announced end of July/beginning of August.


What if I am selected for the final event?

If you are among the lucky finalists selected, you will need to ensure the participation in the final event. You will have to prepare a pitch in English and be ready to present in front of our expert jury. The final event will be held in November, you will receive more details regarding the timing, travel compensation, and the setup in due time.


What is included in the prize package?

The best 5 companies will receive a full year of tailored international growth support by the EIT Digital Accelerator worth €50,000 to scale up their business. Our team of experienced business developers and financing specialists will support you in securing international target customers and providing fundraising support. On top of that, the first prize winner will receive a cash prize of €100,000. 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.


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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