Periodic Reporting for period 2 - BEYOND (Boosting pan-european Exchange between acceleration ecosYstems for improving quality and Outreach of business acceleration services in Developing innovation ecosystems)
Reporting period: 2023-11-01 to 2024-10-31
BEYOND aims to achieve a more interconnected European business acceleration industry in between ‘modest’ or ‘moderate’ and ‘strong’ or ‘leading’ acceleration ecosystems in Europe, and therefore directly contribute to foster the rise of investment flows from net contributor regions (leaders) towards ‘modest’ and ‘moderate’ regions as net beneficiaries, which might provide one effective solution against the above referred undesired geographical gap. The backbone of BEYOND is Virtual Accelerator Marketplace (VAM) a trust framework to support joint business acceleration activities that will contribute in a sustainable manner to enhance a balanced interconnectedness of private investment flows and thus, contribute to dramatically improve quality and outreach of business acceleration services in developing innovation ecosystems. The VAM will be tested through 2 editions of a joint acceleration program co-designed by 5 business accelerators backed on their own VC Funds, representing moderate (BG, LT, PL) and leading regions (DK, ES), that will select and support 2 cohorts that will receive access to mentoring and international VC investors.
BEYOND created a federated network of European accelerators, developing the Virtual Accelerator Marketplace (VAM) to share tools, courses, and mentorship across regions. A self-sovereign identity model was implemented, allowing startups to control their data.
Through co-creation bootcamps and joint programs, BEYOND supported over 270 startups, with 47 integrated into the VAM. The project facilitated €5 million in cross-border investments, with a 43% increase in funding from leading to emerging regions, and provided over 2,200 hours of mentoring.
Achieving 40% participation from women-led startups, BEYOND promoted diversity within innovation. The VAM platform, adopted by 13 accelerators, now offers 60+ activities, ensuring the project’s lasting impact and support for European startups.
Through co-creation bootcamps and joint programs, BEYOND supported over 270 startups, with 47 integrated into the VAM. The project facilitated €5 million in cross-border investments, with a 43% increase in funding from leading to emerging regions, and provided over 2,200 hours of mentoring.
Achieving 40% participation from women-led startups, BEYOND promoted diversity within innovation. The VAM platform, adopted by 13 accelerators, now offers 60+ activities, ensuring the project’s lasting impact and support for European startups.
Work Package 1 (WP1): Established common practices, designed an innovative framework, and readied for the joint program.
Work Package 2 (WP2): Executed a successful communication plan, engaged stakeholders, and formed a joint pool of experts.
Work Package 3 (WP3): Completed the first edition of the joint program with 19 selected startups.
Work Package 4 (WP4): Currently integrating lessons learned and testing the involvement of new accelerators.
Work Package 5 (WP5): Focuses on disseminating results, engaging accelerators, mobilizing policymakers, and upgrading the virtual platform.
Work Package 6 (WP6): Ensures effective project management, including financial reporting, data management, and diversity promotion.
The most significant achievement is the development and enhancement of the BEYOND’s Virtual Accelerator Marketplace (VAM). This platform aims to unite European Accelerators under a single ecosystem, fostering more efficient collaboration and innovation.
Potential Impacts:
The VAM has the potential to significantly streamline the process of connecting startups with investors and stakeholders, providing a seamless, secure environment for collaboration and investment.
The project’s emphasis on diverse and inclusive participation could lead to broader representation and opportunities in the startup ecosystem.
By engaging policymakers and regulators, the project could influence more supportive regulatory frameworks, benefiting the wider entrepreneurial community.
Key Needs for Further Uptake and Success:
Further Research and Development: To refine and expand the capabilities of the VAM, ensuring it remains cutting-edge and meets evolving needs.
Demonstration and Case Studies: Showcasing success stories and benefits to attract more participants and gain trust.
Market Access and Finance: Facilitating connections to broader markets and securing funding for startups and the platform’s expansion.
Commercialization and Marketing: Effectively marketing the platform and its successes to attract a wider audience.
Intellectual Property Rights (IPR) Support: Ensuring the protection of innovations and ideas generated within the ecosystem.
Internationalization: Expanding the platform’s reach to include global markets and international investors.
Regulatory and Standardization Support: Advocating for policies and standards that favor innovation and collaboration in the startup ecosystem.
In conclusion, the BEYOND demonstrates a forward-thinking approach to fostering innovation and collaboration within the European entrepreneurial ecosystem. Its success hinges on continued development, effective marketing, regulatory support, and international expansion.
Work Package 2 (WP2): Executed a successful communication plan, engaged stakeholders, and formed a joint pool of experts.
Work Package 3 (WP3): Completed the first edition of the joint program with 19 selected startups.
Work Package 4 (WP4): Currently integrating lessons learned and testing the involvement of new accelerators.
Work Package 5 (WP5): Focuses on disseminating results, engaging accelerators, mobilizing policymakers, and upgrading the virtual platform.
Work Package 6 (WP6): Ensures effective project management, including financial reporting, data management, and diversity promotion.
The most significant achievement is the development and enhancement of the BEYOND’s Virtual Accelerator Marketplace (VAM). This platform aims to unite European Accelerators under a single ecosystem, fostering more efficient collaboration and innovation.
Potential Impacts:
The VAM has the potential to significantly streamline the process of connecting startups with investors and stakeholders, providing a seamless, secure environment for collaboration and investment.
The project’s emphasis on diverse and inclusive participation could lead to broader representation and opportunities in the startup ecosystem.
By engaging policymakers and regulators, the project could influence more supportive regulatory frameworks, benefiting the wider entrepreneurial community.
Key Needs for Further Uptake and Success:
Further Research and Development: To refine and expand the capabilities of the VAM, ensuring it remains cutting-edge and meets evolving needs.
Demonstration and Case Studies: Showcasing success stories and benefits to attract more participants and gain trust.
Market Access and Finance: Facilitating connections to broader markets and securing funding for startups and the platform’s expansion.
Commercialization and Marketing: Effectively marketing the platform and its successes to attract a wider audience.
Intellectual Property Rights (IPR) Support: Ensuring the protection of innovations and ideas generated within the ecosystem.
Internationalization: Expanding the platform’s reach to include global markets and international investors.
Regulatory and Standardization Support: Advocating for policies and standards that favor innovation and collaboration in the startup ecosystem.
In conclusion, the BEYOND demonstrates a forward-thinking approach to fostering innovation and collaboration within the European entrepreneurial ecosystem. Its success hinges on continued development, effective marketing, regulatory support, and international expansion.