X2.0 - Driving deeptech growth

Project Information

X2.0

Grant agreement ID: 101073781

DOI

10.3030/101073781

Project closed

EC signature date 21 October 2022

Start date 1 November 2022

End date 31 October 2024

Funded under

• The European Innovation Council (EIC)

Total cost

€ 1 999 987,50

EU contribution

€ 1 999 987,50

Coordinated by

F6S NETWORK IRELAND LIMITED
Ireland

Periodic Reporting for period 1 - X2.0 (X2.0 - Driving deeptech growth)

Reporting period: 2022-11-01 to 2024-10-31

Summary of the context and overall objectives of the project

To compete in global markets, increasingly defined by new technologies, Europe needs to capitalise on its excellent research and start-up ecosystem. The rapid rise of digital innovations and deep technologies can become a major engine for long-term economic growth. However, innovation ecosystems face important challenges in terms of the imminent need to strengthen supporting mechanisms and collaborative frameworks, improve the enabling environment, and enhance access-to-finance for innovative and early-stage startups and high-growth potential SMEs. There exists an important investment gap for digital innovations and startups, especially in Central, SEE region and other Widening Countries. To this end, the X2.0 project builds upon already funded knowledge, to establish a framework anchored by external service providers, also known in this proposal as industry impact builders. The framework will deliver a trifecta of key impact drivers, namely i) upskill and upscale the future deeptech leaders of Europe, ii) connect and nurture the ecosystem, and iii) reinforce and contribute to the EIC offer. The X2.0 will upskill its beneficiaries by providing custom growth services and by establishing pathways to private and public funding, which will in turn increase the delivery of deeptech products to market. The focus of the project is to assist 50 SMEs in increasing their individual capacities and enhancing their long-term competitiveness. The project will establish an X2.0 Impact Hub of 350 validated impact builders (external service providers) able to deliver cross border services and 75 corporations seeking partnerships with startups. Finally, the project will close with a white paper providing insights into the EU deeptech scene. The project will run for 24 months establishing a sustainable collaborative ecosystem across the EU.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

X2.0 has successfully ran 5 open calls to deeptech startups across EU, particularly focusing on Widening regions. The topics of the open calls were:

1. Manufacturing & Circular Economy,
2. AgriTech,
3. HealthTech & BioTech,
4. Smart Cities & Sustainability,
5. Data & AI.

The open calls supported the delivery of 5 tailored made acceleration cohorts, where external impact builders have been engaged to deliver the needs based services, while the consortium has delivered corporate matchmaking, investment matchmaking, job promotion and has overseen the program.

Below, achievements per 3 project objectives are quantified

OBJECTIVE 1: UPSKILL AND UPSCALE DEEPTECH STARTUPS

• 552 startups applied
• 50 companies selected
• 88% of selected startups (SoE, women, or Widening Countries)
• 170 cross-border acceleration services delivered
• 124 corporations engaged
• 345 corporate-startup partnerships
• 215 events attended
• €30.36M raised in investment/public funding
• €1.5M distributed via voucher scheme
• 5 public funding-related activities

OBJECTIVE 2: CONNECT AND NURTURE EU DEEPTECH ECOSYSTEM

• 287 impact builders mapped
• 249 service agreements signed per cohort
• 5 webinars for impact builders
• 2,100 social media interactions
• 1,097 followers
• 80,000 website visits
• 36 articles/posts published
• 3 info webinars on EU SDGs

OBJECTIVE 3: REINFORCE THE EUROPEAN INNOVATION COUNCIL OFFER

• 50 needs assessments conducted
• Industry impact builders knowledge hub delivered
• White paper on startup needs/trends published
• X-Europe methodology implemented
• 106 public funding opportunities shared

Startup Oriented KPIs

• 151 strategic contracts (50% cross-border)
• 345 corporate-startup partnerships
• 52 DeepTech products delivered
• 10 virtual meetups for impact builders
• 5 info webinars for impact builders
• 530 public funding opportunities explored
• 100% awareness of EU funding opportunities
• 14 proposals sent to the EIC
• 5 info sessions for startups
• 1,042 business meetings held
• 215 events attended
• 95 jobs created
• 257 investor meetings
• 73.74% cross-border service delivery

Other Achievements

• 5 corporate matchmaking events
• 5 info sessions on EU/EIC funding and procurement
• 5 meetups with EIC and SE
• 3 info sessions on SDGs and gender equality
• 10 partner participations in EU events/fairs

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

The X2.0 project has set new benchmarks in supporting deep-tech startups, addressing challenges in financing, market access, internationalization, and commercialization. The project delivered over 170 tailored services and 71 mentorship sessions, resulting in 52 deep-tech products launched, 67 new market entries, 151 strategic agreements (over 50% cross-border), and €30.36M raised in public and private funding. These achievements demonstrate the project’s success in fostering innovation across sectors like circular economy, AgriTech, AI, and Smart Cities.

X2.0 promoted inclusivity by supporting 36 women-led startups and 26 from widening countries, with 73% of services delivered cross-border. Through 1,800 collaborations and 475 investor meetings, the project connected startups with industry leaders, creating partnerships and early customer acquisitions. A key deliverable was a White Paper on European Deep-Tech Startups, consolidating insights and recommendations for policymakers to strengthen innovation frameworks and align with EU priorities.

At completion, X2.0 engaged 50 startups from 25 countries, distributed €1.5M in services, and established 345 corporate-startup partnerships, 530 explored funding opportunities, and 95 new jobs. The project catalyzed impactful technologies that contribute to sustainability, food security, and digital transformation, providing a scalable framework for future EU innovation initiatives and positioning Europe as a global leader in deep-tech innovation.