Periodic Reporting for period 1 - SPREAD2INNO (SPREADing the global potential of developing innovation ecosystems to strengthen INNOvation in regional and local businesses)
Reporting period: 2023-01-15 to 2025-01-14
While European innovation ecosystems are facing increasing global competition, there are big differences between European regions’ innovative capacity. Funding obstacles, lack of investors, and scarcity of acceleration services are especially prevalent in less connected innovation ecosystems in Eastern and Southern Europe. This represents a significant hurdle to unleashing the potential of European entrepreneurship. As an answer to these challenges the SPREAD2INNO project aimed to understand the needs of startups and SMEs in various innovation ecosystems, focusing on financial and business services. Through the implementation of a three-phase startup acceleration programme, the project contributed to enhancing business activities in less developed innovation regions in Bulgaria, Greece and Italy. Connecting regional startups with local stakeholders helped to increase innovation, promote inclusion and diversity, as well as evaluate the sustainability of the methodology for long-term impact. Additionally, an online platform was created to provide a single point of reference for information exchange between different innovation ecosystems about opportunities, events and funding accessible in these regions. As a result, the SPREAD2INNO project contributed to boosting innovation ecosystems by enhancing their openness, competitiveness, and global reach while creating high-value local jobs, attracting investments, and enabling startups and SMEs to access services and networks across Europe for greater internationalization.
The main activities of the project were centred around a three-phase startup acceleration programme. At six local events in Bulgaria, Greece, and Italy, 120 startups received the opportunity to participate in exciting workshops, network with important stakeholders, and compete for a place in the next phase. Two Innovation Academies in Italy and Bulgaria provided tailored workshops and mentoring for the 24 winners of the local events’ pitching sessions. The last phase of the project consisted of an intensive training week for the six finalists. To ensure the project’s sustainability, a best practice manual has been created. Furthermore, the project established a one-stop-shop web platform which provides a central point for innovation stakeholders to connect, exchange knowledge, and find relevant entities across Europe.
Through its actions, SPREAD2INNO contributed to the creation of open access innovation ecosystem and cross-border cooperation. The activities implemented during the startup acceleration programme were tailored to enhance competitiveness of participating startups and foster interregional and -national exchange between innovation stakeholders. Through the analysis of less connected region and their needs, SPREAD2INNO was able to create a tailored approach towards balancing business activity across Europe. Furthermore, the project offered business acceleration programmes, incubators and other services to increase local entrepreneurs’ business growth opportunities and enable knowledge exchange between different innovation ecosystems, also enabling stronger international relationships. Lastly, SPREAD2INNO contributed innovation ecosystems becoming more inclusive and diverse by ensuring gender balance among all participants in the programme and tailoring messages specifically to marginalised groups. To ensure a successful long-term uptake of the project’s outcomes and results, SPREAD2INNO took various measures, including the creation of a best practice manual and targeted policy recommendations, and collecting letters of support and memorandums of understanding from relevant actors in the innovation ecosystem.