The Fast Track to Market is looking for startups that are active in one of the three focus areas of the EIT Food are active: Healthier Living through Food, a net-zero food system, and a fully transparent, fair, and resilient food system. The "Healthier Living through Food" segment focuses on increasing the adoption of a balanced, sustainable, and healthy diet. Here, the EIT focuses on raising awareness of the link between food and health. It also addresses innovative solutions for affordable products and policies that prioritize soil health, nutrition, and food education.
The EIT defines the food system as the entire food industry, meaning all operations from breeding and cultivation to transport and processing. The "Net Zero Food System" area focuses on reducing this sector's greenhouse gas emissions to zero. To this end, the EIT seeks solutions for the transition to sustainable and regenerative agricultural practices, as well as new markets and opportunities for reducing food waste and loss.
Finally, the "transparent, fair, and resilient food system" segment is about making the food system more resilient. This not only aims to protect the food industry against external shocks such as supply chain disruptions, but also to increase the safety of the food itself. Here, the focus is primarily on innovative and fair business models and solutions for digital supply chains.
Fast Track to Market aims to accelerate market readiness
The Fast Track to Market program is designed to help startups advance their market readiness and bring their services to new or expanded markets. To this end, the young companies receive financial support of up to €400,000. Founders should be aware, however, that the funding is based on revenue-based financing, which provides for repayment based on the company's revenue.
Small businesses and startups as defined by the European Commission are eligible to apply. Furthermore, applicants must have been active for at least 12 months and have at least three full-time employees. Furthermore, their headquarters must be located in an EU Member State or a country associated with the Horizon Europe program. Applicants are also invited to submit a six- to ten-month project that can significantly accelerate the commercial success of their startup. The application deadline is April 10 at 12:00 PM Central European Time.
For any questions, EIT Food is offering a webinar on March 13th.
EIT Food has collected all information about the application process here.
