Project description
Supporting startups to access markets
It’s not easy for deep-tech startups to move out of the lab and successfully to market. There are all sorts of cultural, legal and economic challenges they need to address. For many deep-tech startups, the main challenge is the long time needed to reach a maturity level, which makes it difficult to attract investors. For Widening Countries, commercialisation is even more challenging. To reverse this trend, the European Commission has launched Europe-wide initiatives (European Investment Council and Startup Europe). In this context, the EU-funded VENTURES THRIVE project will support 32 startups, providing up to EUR 100 000 (cash and vouchers) to each of them. It will assist the startups in accessing markets via corporate challenges and networking opportunities.
Objective
European startups face barriers when scaling due to the cultural, legal and economic fragmentation of the market. While the EU demonstrates high performance in “the lab”, this does not translate proportionally into thriving commercial ventures. For deeptech startups, the key challenge is the lengthy time needed to reach a maturity level adequate for adoption, making investing risky. In the case of Widening Countries, commercialization of deeptech is even more challenging.
The EC has made a substantial effort to support deeptech with initiatives aiming to invest in and connect entrepreneurs at a pan-European scale (EIC Accelerator and the Startup Europe initiative). VENTURES THRIVE inherits the spirit of these initiatives, concretely building on three waves of Startup Europe with a novel approach targeted at deeptech startups in Widening Area countries. This unique open innovation startup programme will provide up to €100K (cash and vouchers) each to a total of 32 startups. Along with equity-free funding, the core programme offers value-add services aimed at: fostering access to markets via corporate challenges, improved investment readiness, and greater visibility, investment and networking opportunities. The project consortium and external associates comprise venture builders, event organisers, VC & Angel Investors, corporates and expert mentors. Overall, the startups are expected to unlock +€18M via investment, grants and corporate procurement.
The secret ingredient is the consortium and their extensive networks. ACCELER8 (Malta) is a venture builder commercialising top-level scientific innovations. ANTHOLOGY VENTURES (Bulgaria) is a venture studio, incubating early-stage teams and business angels. WOLVES SUMMIT (Poland), the major event for startups in the CEE region, offers the perfect connection with investors, corporates and the tech community. Notably, they have already facilitated over 37,000 meetings between startups and investors from +60 countries.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
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Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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HORIZON.3.1 - The European Innovation Council (EIC)
MAIN PROGRAMME
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
HORIZON-CSA - HORIZON Coordination and Support Actions
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) HORIZON-EIC-2021-STARTUPEU-01
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
FRN 1531 Floriana
Malta
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.