EIT Digital Venture Program 2023: 40 startups selected to receive the final prize

In total, the programme distributed over €600,000 in prizes and support across the 2023 cohort

EIT Digital has announced the 40 startup teams selected to receive the final €10,000 prize in the 2023 Venture Program.

The prize recognizes the top performers from this year's edition. More than 200 entrepreneurs participated in the training, coaching, and networking initiatives.

The 40 winners stood out based on criteria like innovative business ideas, growth potential and progress made during the programme.

This injection of capital comes on top of the initial €5,000 awarded to all participants and is exclusively for teams that have incorporated their startup.

In total, the programme distributed over €600,000 in prizes and support across the 2023 cohort.

And it’s not over yet. The first ten ventures to raise at least €50,000 in funding from private investors by the end of November will be entitled to an additional prize of €10,000, bringing EIT Digital’s total support to €25,000 each.

Launched six years ago, the EIT Digital Venture Program is designed to support early-stage entrepreneurial teams from the Baltics, Central, Eastern and Southern Europe in their journey to market.

In 2023, the programme has expanded its reach to include Italy, Spain and Hungary. It is now open to 22 European countries, with new partners like Universidad Politécnica de Madrid, Dock3 and Lunar joining existing regional accelerators.

Selected teams are offered an intensive eight-week pre-acceleration programme; they are coached, in particular, on how to develop their Minimum Viable Product (MVP), establish their startup company, and raise funds with investors.

At the final “Pitch Days,” they get the chance to validate their business solution by presenting it in front of early-stage investors, potential clients, and experts from the tech community.

The 40 teams awarded represent some of Europe's most promising young ventures, and the final prize recognizes their accomplishments to date while empowering their future growth.

"An early-stage startup’s path from inception to real impact is a roller-coaster. EIT Digital’s Venture Program helps founders take the first dozen steps along this difficult way. Our great incubation partners are providing training and mentorship, while EIT Digital provides the initial financial support. This unrivalled pan-European initiative empowers entrepreneurs to turn their dreams into scalable business. Judging by the astounding quality of the graduates, this initiative continues to achieve strong results in catalyzing innovation and entrepreneurship."

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