The 2024 edition of the EIT Digital Venture Incubation Program (formerly known as the Venture Program), promises to be the most attractive yet for European entrepreneurs.
Building on a successful track record - more than 160 startups launched, several of which have quickly raised investments and signed outstanding clients - the programme will be available this year in 24 countries, with Germany and Sweden joining the list of nations where teams applying to the initiative can be based (see complete list of supported countries here).
For the first time, eligibility extends to participants who have already legally established their startup, provided they registered it after January 1, 2024.
Selected teams will be offered an intensive eight-week pre-acceleration programme; they will be coached, in particular, on how to develop their Minimum Viable Product (MVP), establish their startup company, and raise funds from investors.
At the final "Pitch Days", teams will get the chance to validate their business solution by presenting it in front of early-stage investors, potential clients, and experts from the tech community.
All teams will receive an initial €5,000 tranche of support, to which €10,000 will be added for those who complete the programme and incorporate their startup. In addition, the fastest ventures to raise at least €50,000 in funding from private investors by the end of November will be entitled to an additional prize of €10,000.
As a bonus, an extra €5,000 will be awarded in the final stage of the programme if selected teams have achieved sales of at least €10,000, bringing EIT Digital's total financial support to €30,000 each.
Several participants of previous editions of the Venture Incubation Program have become success stories. Among the most recent, Full Venue a leading Portuguese AI company in the sports and events technology sector and a 2020 alumnus, has recently announced the closing 2 million euros seed funding round.
Polish startup Restimo, that took part in 2020 as well, successfully secured €465,000 from a diverse group of private investors, signaling strong market confidence in its groundbreaking solution designed to streamline restaurant operations.
"This year, we're doubling down on our mission to empower digital entrepreneurs by offering increased funding and expanding our reach. It's a thrilling time to be an entrepreneur in Europe, and we're here to make their journey from concept to market as seamless as possible," said Mirko Tadic, EIT Digital Venture Program Lead.
The deadline for applications is April 28, 2024.
For more information and to apply, visit: www.eitdigital.eu/venture-incubation-program
