The European Data Incubator is funding data-driven business models with €5 million. Applications are open until June 19 (noon).
The EU project aims to facilitate the market entry of data-based business models. Within the next three and a half years, the European Data Incubator aims to develop around 140 European startups and support them with €5 million in funding.
The project is planned to consist of three nine-month batches, each divided into three phases. For the first phase, 45 startups will be selected. These will receive €5,000 in funding. 16 startups will then advance to the second phase and receive €80,000 each. The six best startups from phase two will then participate in the third phase and receive support during their market launch and in their search for follow-on financing. The startups will not be required to sell any of their company shares.
Business models for various industries in the European Data Incubator
Laura Kohler, Managing Director of etventure Startup Hub, which is responsible for the selection and content support of startups as an implementation partner, says that the major challenge in the area of Big Data is not the collection of data, but the question of how this data can actually be used meaningfully and in an integrated manner:
"With the European Data Incubator, we're addressing precisely this point. We will support innovative teams in developing new, smart business models for a wide range of industries based on existing data – from the automotive and mobility sectors to the media industry."
According to Köhler, the startup division of the digital consultancy and company builder etventure wants to contribute its own experience in building startups and managing EU projects and also participate in the development of groundbreaking technologies.
