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EIT ICT Labs

CD - 27/08/2014

The EU wide contest for innovative start-ups, IDEA Challenge, is back !

Idea Challenge

After a first successful round last spring, the EU wide contest for innovative start-ups, IDEA Challenge, is back and open from September the 1st to September the 30th. 12 new start-ups will be rewarded by EIT ICT Labs in 4 innovation areas: Cyber Security and Privacy, Internet of Things, Urban Life and Mobility, Smart Energy Systems.

The IDEA Challenge contest is aimed at European start-ups created less than 3 years ago or about to be created by an entrepreneur-minded individual. In any case, start-ups must makeless than 24 K Euros per year. They can already be incubated or accelerated in another program. Their activity must be related to one of the innovation areas covered by EIT ICT Labs.

 

In order to participate, you need to register online : describe how your idea meets a real need, identify your potential market and explain your business model. Area experts rate each and every idea and 8 to 10 finalists are selected. During the final, finalists need to pitch their project and convince a jury about its relevance and potential. The finals take place in 8 European cities. For the 2nd wave of the contest, online registration will be in September and finals will take place in Trento, Stockholm, London and Berlin in October/November.

 

For each innovation area, the 3 best projects are awarded :

  • financial help (1st prize 40 K Euros, 2nd prize 25 K Euros, 3rd prize 15 K Euros)
  • coaching and mentoring by Business Developers
  • integration into pan-European partners network and activities of EIT ICT Labs
  • office space for 6 months in the European country of their choice

Up to 24 start-ups will be rewarded. The IDEA Challenge contest will be conducted next year too. 

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EIT - European Institute of Innovation and Technology - was created in 2008 by EU to accelerate innovation in Europe. Since January 2014, it has been part of the wide research and innovation program: Horizon 2020 with 80 billion Euros available for 7 years. The ICT part of the Institute - EIT ICT Labs - focuses on ICT innovation potential. Thru its partnership with research centres (incl INRIA), clusters, global companies and universities, its ambition is to drive European leadership in ICT innovation.

Keywords: Start-ups EIT ICT Labs #ideachallenge #entrepreneurship H2020 Europe

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