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CORDIS

European Data Incubator

Project description

European data incubator for start-ups and SMEs

Many SMEs face numerous problems when attempting to develop a comprehensive data strategy: lack of access to private corporative data sets; access to the actual needs of the corporations having those data sets; access to venture capitalists and investors willing to bring forward their solutions or seed equity-free funding. The EU-funded EDI project aims to help them overcome these barriers by providing a free infrastructure with open-source tools, training on off-the-shelf solutions, business services to develop their business idea and equity-free funding. EDI will boost the European data economy by fostering a community consisting of data providers, innovators, tech/business experts, investors, universities and corporations, with an end goal of connecting European start-ups and SMEs to a vibrant network.

Objective

Only 2 out of the top 20 companies changing lives and making money out of Big Data are European. Europe is not playing the role it should in the global market. European Data Incubator project aims to revert this situation. Every company is born as a startup, and Big Data has already proven to be a disruptive technology that can provide substantial changes in traditional and innovative domains.
Many SMEs are facing a number of problems when attempting to develop a sort of comprehensive data strategy. The tools required to make successful data management an achievable prospect often require an up-front capital investment. The data remains in silos and its availability or cross-domain value is still unperceived.
EDI will help them jump this hurdle providing (1) a free infrastructure with open source tools (2) training on the most known off-the-self solutions (3) support and business services to develop their business idea and (4) equity-free funding.
The main objective of the project will be to leverage the technology and knowledge on Big Data across countries and sectors thanks to the incubation of start-ups/SMEs who use Big Data open source tools oriented to sort out major challenges in different business which facilitate their data assets.
An experienced consortium will be behind EDI. It is comprised by experts on Big Data technologies, the managers of several acceleration initiatives within the FIWARE Accelerate programme, existing incubators like Deusto Entrepreneurship Centre and etventure Seed Lab and the largest online network for start-ups (F6S). Moreover, 16 data providers, from Finance, Transport, Industry 4.0 Retail, Media&Content, Energy, etc. will provide data to the incubation process.
We expect to incubate around 120 companies under a 3-phase incubation programme (funnel approach) launching 3 call for proposals and disbursing up to €5M equity-free and commiting to raise additional financing resources up to €15M for them from private investors mainly.

Call for proposal

H2020-ICT-2016-2017

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Sub call

H2020-ICT-2017-1

Coordinator

UNIVERSIDAD DE LA IGLESIA DE DEUSTO ENTIDAD RELIGIOSA
Net EU contribution
€ 5 634 514,51
Address
AVENIDA DE LAS UNIVERSIDADES 24
48007 Bilbao
Spain

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Region
Noreste País Vasco Bizkaia
Activity type
Higher or Secondary Education Establishments
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Total cost
€ 5 752 784,01

Participants (20)