Venture Support


Who qualifies for support

Startups, scaleups and SMEs with the following characteristics:

  • Less than 100 employees on their payroll in Q1, 2020
  • Incorporated not more than 10 years ago
  • Aligned with at least one of the EIT Digital Focus Areas: Digital Tech, Digital Cities, Digital Industry, Digital Wellbeing, Digital Finance. For more information, please refer to the EIT Digital Strategic Innovation Agenda 2020-2022
  • Substantiated COVID-19 impact on company (e.g. operations, customer segment or fundraising process).

What we offer

EIT Digital will provide a financial support package to the selected ventures for a period of maximum 6 months (i.e. the financial support can cover costs incurred between July 1, 2020 and December 31, 2020).

The financial request in the proposal shall be realistic in order to guarantee absorption capacity of the venture in the indicated time frame.

Supported ventures will be subjected to performance and cost reporting as well as reviews and audits.

All communication and dissemination materials relating to the initiative shall include the EIT Digital/EU co-branded logo and include the following statement: As part of the EIT’s Crisis Response Initiative, this activity directly contributes to the European Union’s response to the COVID-19 pandemic.

Criteria 

  • Alignment with one of the EIT Digital focus areas
  • Substantiated justification of financial request
  • Compelling project plan aligned with financial request
  • Resilience and capacity to adapt and overcome the crisis
  • Contribution to EIT Digital’s financial sustainability through equity, in consideration for the support (see Q&A section for more details)

Process

Please express interest in this initiative and provide all the details about your company by 25 May 2020, 17.00 CEST.

Requests will be assessed by EIT Digital with the support of independent external experts. By the end of June, we will be in touch to let you know if we can honor your request and to communicate the next steps. All information will be treated in accordance with the General Data Protection Regulation, GDPR (Regulation EU 2016/679).


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