More than 600 early stage startups and innovators from all over Europe registered for the first wave of the Idea Challenge, and 311 proposals were finally submitted to the EU-wide idea contest organised by the pan-European education and research-based innovation organisation EIT ICT Labs. Teams and individuals with the drive to found a business were called to submit ideas that revolutionise the information and communication technologies of tomorrow in order to drive economic growth and quality of live in Europe. The second submission wave starts on the 1st of September.
The innovators who have submitted their ideas are not only looking for a chance to win up to 40,000 Euro, office space and mentoring support from the EIT ICT Labs Business Development Accelerator but also for the invaluable opportunity to become part of a unique ecosystem that provides access to a network of investors, venture capitalists and worldwide leading companies. An expert jury consisting of industry experts, investors, entrepreneurs and business accelerators are currently reviewing the entries to select the most innovative ideas for the finals. Between eight and twelve teams per category will be invited to pitch their ideas either in Eindhoven (in May 2014), Helsinki, Munich, or Rennes (in June), where twelve winners will be selected in the end – three in each category.
Idea Challenge fuels innovation
In this first wave teams and individuals were asked to submit ideas to address one of the following tech trends: “Health & Wellbeing”, “Cyber Physical Systems”, “Smart Spaces” or “Future Cloud”.
“The Idea Challenge is very important to us because we try to find the right ideas in those areas where we are active to bring innovation to life” explained Willem Jonker, CEO of EIT ICT Labs. “The Idea Challenge is really about scouting technologies, ideas, opportunities and make sure they make it to the market” he added.
Second wave starts on the 1st of September
The Idea Challenge is divided into two waves. Ideas that address “Cyber Security and Privacy”, “Internet of Things”, “Urban Life and Mobility” and “Smart Energy Systems” can be submitted through www.ideachallenge.eitictlabs.eu from September 1st to September 30th. All rights to designs, new technologies and creations from the teams will remain with their developers, leaving them all flexibility for future business decisions and partnerships.
For further information, please contact Johanna Gavefalk, Director Marketing & Communications EIT ICT Labs (email@example.com)