Project description
A closer look at funding gaps and low start-up survival rates
In modest and moderate innovation ecosystems across Europe, notably in central and eastern European countries, low start-up survival rates persist alongside inadequate funding. These regions face challenges in attracting investors and nurturing early-stage ventures, hindering their competitiveness within the broader European landscape. In this context, the EU-funded HICEE project aims to bolster critical mass for investors and ventures. By partnering with local support organisations, HICEE seeks to build sustainable early-stage investment ecosystems and attract foreign investors. Using the impact pathway methodology, its goal is to increase venture investments, de-risk innovators and foster cross-border collaboration. Beyond its objectives, the project aligns with broader European innovation goals, fostering competitiveness, job creation and knowledge transfer.
Objective
To address the low start-up survival rate and the lack of funding in “modest” and “moderate” innovation ecosystems within Europe – namely in Central and Eastern European countries - the consortium (led by EIT Health in collaboration with InnoStars, Civitta and other entities, as well as an advisory board including the EIF) will use their individual expertise to implement activities that build critical mass on both the investor and venture-building front.
Given the investment challenges in early-stage ventures, the Project will seek to collaborate with local start-up support organizations to provide capacity building initiatives as well as to derisk local innovators to set the foundations for modest and moderate regions to become sustainable and competitive with more dynamic regions within the European ecosystem.
The project will be structured around the impact pathway methodology (scoping, engaging and implementing). The specific objectives are: 1) to build robust and sustainable early-stage investment ecosystems and increase critical mass; 2) to increase venture investments through a) cultivating life sciences local investment and b) attracting foreign investors into the local innovation ecosystem; 3) to provide de-risking and investment readiness support for Dealflow exchange to increase syndication, and 4) to disseminate and implement project outcomes, create European foundation to address fragmentation in EU market and support cross-border investments
In addition to said objectives, as well as the expected outcomes set out in the call, the Project will aim to impact wider European goals, including furthering the European Innovation Agenda, increasing investment competitiveness, start-up as wells as job creation, knowledge transfer, and widening European outreach. Furthermore, project results are expected to be applicable to other regions and non-health related industries and scope a Pan-European funding initiative for health tech ventures rich in assets.
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Programme(s)
Funding Scheme
HORIZON-CSA - HORIZON Coordination and Support ActionsCoordinator
80807 Munchen
Germany