How it works

How it works

Overview

EIT Digital supports the establishment of tech-based ventures by helping innovators from EIT RIS countries develop and finalise a minimum viable product and establish their venture. With our pan-European network of partners, we have built an ecosystem across Europe that brings together industry, academia, investors, scale ups and startups.

The EIT Digital Venture Program is a competition for teams of entrepreneurs with strong value propositions and an existing prototype or Proof of Concept (PoC) who are eager to finalise a minimum viable product during an intensive six-week Pre-Acceleration Phase. The programme operates in four regions and will be delivered by selected EIT Digitial innovation partners - Found.ation Athens, Startup Wise Guys Tallin, BGI Lisbon and ABC accelerator Ljubljana - each covering specific countries.

All teams selected to take part in the EIT Digital Venture Program will be offered a Growth Package consisting of:

  • a financial prize of €5,000 
  • business development support from top-notch international mentoring teams during a two-day bootcamp and a six-week Pre-Acceleration Phase at one of the EIT Digital Venture Program’s partners
  • access to EIT Digital’s pan-European network of partners
  • media coverage
  • an opportunity to compete for a Final Prize of €10,000 for the best teams who incorporate, develop their minimum viable product and are selected by our expert committee.

The programme is equity based; on completion, all participants shall be obliged to transfer 5% of the equity of their newly established legal entity to EIT Digital.

ELIGIBILITY CRITERIA

The EIT Digital Venture Program is open to teams of entrepreneurs that are residents of any of the following countries: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, North Macedonia, Greece, Malta, Montenegro, Latvia, Lithuania, Poland, Portugal, Serbia, Slovakia, Slovenia and Romania.

To be eligible, interested teams from the abovementioned countries must fulfil the following criteria:

  • Teams must have an innovative business idea with a PoC or prototype in Digital Industry, Digital Tech, Digital Wellbeing, Digital Finance or Digital Cities
  • Teams must consist of at least two members and be multidisciplinary, with technology and management skills 
  • Teams must not have already established a legal entity for the project in question.

For further details on eligibility criteria, please read carefully the Rules and Regulations relevant to your country of residence before submitting your application:

How to apply

All applications must be submitted online in written English here: https://fondazioneeitdigitalitaly.submittable.com/submit/ 

Applications must be received no later than May 5 2019, 23:59:00 CEST. No paper applications will be considered.

All applications will be reviewed and evaluated by the EIT Digital Venture Program evaluation committee consisting of internal and external experts.

By applying to the EIT Digital Venture Program, teams agree to participate in a two-stage competition. In the first stage, teams have the chance to win a Growth Package consisting of a cash prize and participation in the Pre-Acceleration Phase. Admission to the second stage requires the successful completion of the first stage and the incorporation of a new legal entity. In the second stage, teams have the chance to win the Final Prize, a cash prize of €10,000. 

For further details on the application, evaluation and selection procedure, please carefully read the Rules and Regulations of the EIT Digital Venture Program that is relevant for your country of residence (see the previous section Eligibility Criteria) before submitting your application online heren: https://fondazioneeitdigitalitaly.submittable.com/submit/ 

Key dates

The dates below are provisional and subject to change by EIT Digital.

Submissions Deadline May 5 2019
Selection Interviews May 9-12 2019
Announcement of finalists May 13 2019
Contracts signed May 20 2019
Growth Package cash prize executed May 24 2019
Bootcamps organised by:
- ABC Accelerator May 23-24 2019
- BGI June 4-6 2019
- Startup Wise Guys June 7-8 2019
- Found.ation June 10-11 2019
Pre-acceleration Program May 25 - July 5 2019
Pitch Days organised by:
- ABC Accelerator July 5 2019
- BGI July 18 2019
- Found.ation July 10 2019
- Startup Wise Guys June 28 2019
Submission deadline for applications for the Final Prize September 1 2019
Announcement of Winners September 15 2019

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