EIT digital is a knowledge and innovation community of the European Institute of Innovation and Technology (EIT). EIT Digital, co-funded by the European Union (EU), is building the next generation of digital businesses, products and services. In less than a year, the EIT Digital Venture Program guides you from idea to investment. From a brilliant idea to a technical Minimum Viable Product (MVP), testing it in the market and raising additional funding – with every achievement you unlock further benefits. Read on to discover what the 6th edition, EIT Digital Venture Program 2023has in store for you and why you should apply immediately. Registrations close on April 16!
Learn all about the program directly from the leader of the EIT Digital Venture program, Mirko Tadic
We spoke with Mirko TadicEIT Digital Venture Programs Lead, to provide you with all the information you need to apply for the program.
What distinguishes this year’s program from previous editions? Something new?
Yes! The program continues to grow! In our 2023 edition, we have opened up our program to 3 new regions. Teams in Italy, Spain and Hungary are now welcome to apply. With the addition of these three major markets, the EIT Digital Venture Program is now accepting applications from residents of 22 European countries (see list below).
What awaits the winners of the program?
Selected teams are offered an intensive eight-week pre-acceleration program; in particular, they will be coached in developing their MVP, setting up their start-up company and raising funds from investors.
During the final Pitch Days, teams will have the opportunity to validate their business solution by presenting it to early-stage investors, potential customers, and experts from the tech community.
All teams will receive an initial tranche of €5,000 in support, with €10,000 added for those who complete the program and integrate their startup. Finally, the first ten companies to raise at least €50,000 in funding from private investors by the end of November will be entitled to an additional €10,000 prize, bringing the total support from EIT Digital Venturd to €25,000.
Does EIT Digital Venture collaborate with regional partners? If so, can you name some?
Yes we do! In Italy, Spain and Hungary, the Venture program will be implemented with the support of Universidad Politécnica de Madrid (Spain), Dock3 (Italy) and Moon (Hungary), joining an already existing group of seven regional partners: Foundation in Greece, Techcelerator in Romania, KTP in Poland, JIC in the Czech Republic and Slovakia, BGI in Portugal, University of Ljubljana (SEB) in Slovenia and LIC in Lithuania.
Who is eligible to apply for the program?
To apply for the EIT Digital Venture Program 2023You must be:
- A multidisciplinary team of at least two people with an innovative business idea, PoC or prototype in the field of Digital industry, Digital technology, Digital wellbeing, digital finance, or Digital cities.
- A non-legal person.
- Resident of one of the following 22 countries: Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Greece, Hungary, Italy, Latvia, Lithuania, Malta, Montenegro, North Macedonia, Poland, Portugal, Romania, Serbia, Slovakia, Slovenia, Spain , Turkey, Ukraine.
Dive into the successful track record of the EIT Digital Venture Program
Since its launch 6 years ago, EIT has more than supported Digital Venture 200 entrepreneurs and launched 124 startups – several of which have quickly attracted investment and signed excellent clients.
End of September 2022, 31 teams from Central and Eastern Europe, the Baltic States and Southern Europe completed the pre-acceleration phase of the EIT Digital Venture program. After developing their Minimum Viable Product and integrating their startup, the teams engaged with private investors. Less than 3 months later, 10 have almost grown up €870,000 in private financing.
Some of the winning teams are:
Plus, this was what some of the previous winners had to say EIT Digital Venture Program:
“EIT Digital provided an opportunity to refine business strategy and focus on building products.”
— Nikita Stepanovs, Founder, Suhona AI
“The support of the 2022 EIT Digital Venture Program has led us to establish our legal entity and bring significant cross-domain experience to the successful realization of our vision.”
— Christos PANAGIOTOU, Founder and CTO, Terra Plus
Submit your application in a few easy steps
Do you meet the participation criteria and are you enthusiastic about the program? Awesome! Follow these simple steps and sign up before April 16!
- Carefully go through the rules and regulations for application.
- Visit the application page.
- Select your country of residence.
- Describe your team.
- Explain the business model, the technology underlying your product/solution and your innovative idea.
- Upload your pitch deck.
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