European fast-growing startups in digital technologies are invited to take part in the 2020 edition of the flagship competition to win international growth support.
The EIT Digital Challenge, the competition for European digital deep tech companies, is now accepting applications. Fast-growing startups with existing customers - so called scaleups - are invited to apply in one of the following five thematic areas: Digital Tech, Digital Cities, Digital Industry, Digital Wellbeing and Digital Finance. The best five companies will receive prizes totaling €350,000 in cash and in kind. The application deadline is 7 June 2020.
"Among all applicants to the competition, we will select 20 companies and invite them to an exclusive event in November where they will pitch to a jury of high-profile corporates and investors," says Dolf Wittkamper, Head of the EIT Digital Accelerator. "A total of 5 winners will be announced during this event, one Challenge winner and four runners-up; they all will receive a full year of tailored support from the EIT Digital Accelerator, valued at €50,000. On top of that, the Challenge winner will receive a cash prize of €100,000."
The competition is focusing on ‘deep tech' scaleups, broadly defined as technology companies with a differentiating product offering, leveraging sophisticated technology which is often protected or hard to reproduce.
Being awarded by the EIT Digital Challenge represents a significant milestone for scaleups willing to grow and expand internationally.
"Winning the EIT Digital Challenge helped us seize a couple of major deals for which we were waiting for the clients' final decisions. In less than 6 months, EIT Digital has already proved to provide us huge media coverage, some welcome financial support as well as numerous sales opportunities in Europe for which we are very grateful"- says Lucas Le Bell, CEO and Co-Founder of CerbAir, who was awarded in 2019 and joined the EIT Digital Accelerator shortly after.
More information on EIT Digital and the application criteria can be found here