The application platform for the EIT Digital Challenge 2018 is now open for new submissions. The competition, organized by the European innovation network EIT Digital, is aimed at European startups that have already successfully launched their digital technology on the market and are looking to internationalize their business. The top ten companies will receive comprehensive international growth funding totaling €750,000. The application deadline is June 14, 2018.
EIT Digital is launching the application phase for the EIT Digital Challenge 2018, the competition for European deep-tech innovators. Startups in the scaling phase – so-called scaleups – can apply in five categories: Digital Industry, Digital Cities, Digital Wellbeing, Digital Infrastructure, and Digital Finance. The top two companies in each category will receive one year of growth funding from the EIT Digital Accelerator. The first-place winner in each category will also receive a cash prize of €50,000.
Prize package with a total value of 750,000 euros
“In this fifth round of the competition, we are offering the most comprehensive prize package to date with a total value of 750,000 euros,”
so Dolf Wittkämper, Head of the EIT Digital Accelerator.
The EIT Digital Accelerator consists of a team of 40 experienced business developers and finance experts operating across 13 different countries across Europe, including one office in Silicon Valley. Since 2012, they have supported over 270 startups in entering new markets and raising capital.
Support specifically for deep-tech companies
The EIT Digital Challenge and Accelerator focus on deep-tech solutions – highly complex technologies based on scientific research or technical innovation.
“Deep-tech companies are developing solutions that fuel digital transformation and are crucial for Europe’s future as an innovation leader,”
says Chahab Nastar, Chief Innovation Officer of EIT Digital.
"However, although the number of VC investments in deep tech companies in Europe has grown three times faster than in tech startups in general since 2015, these companies face unique challenges. Due to their long development time, they require more capital, and customer acquisition takes longer than with other technologies. The EIT Digital Accelerator offers deep tech scaleups the necessary support when it comes to finding customers and investors and overcoming the unique growth hurdles."
In the recent past, several German companies have won the prestigious award, including the Munich-based Konux (2014) and Cleverciti Systems (2017).
Participation criteria
To be successful in the EIT Digital Challenge, companies must meet the following criteria:
• Headquarters within the EU28
• Annual turnover of at least 300,000 euros or 2 million euros total financing
• Not older than ten years
The best companies will be invited to Brussels in the autumn to present themselves and their product to a jury of experts at the final.
The application deadline is June 14, 2018.
Application form and further information
