Européen
EIT Digital – Open Innovation Factory 2024 – Cut-off 2
The Open Innovation Factory 2024 program is looking for world-class digital DeepTech Activities developed by early-stage ventures together with corporates, research and technology providers and/or universities that have demonstrated market and investor traction and can leverage the program to boost their growth even further.
The work program of the Open Innovation Factory 2024 is guided by the EIT Digital Strategic Innovation Agenda 2022-2024 (SIA), which identifies the five focus areas of the EIT Digital strategy: Digital Tech, Digital Industry, Digital Cities, Digital Wellbeing and Digital Finance.
An info session will be organized on Sept 9th 2024. Registrations here: https://register.gotowebinar.com/register/5798446530141805909
AI, High Performance Computing, semiconductors, cyber security and / or quantum computing technologies
All proposals are considered « Innovation Activities” and they must have a maximum duration of six months (July-December 2024, or January-June 2025). The program targets projects at TRL 6 to 8/9, where the MVP is mostly complete, leveraging the program as a springboard for commercialisation.
The maximum EIT Digital funding that can be allocated per Innovation Activity proposal is €400,000, while the maximum budget for this cut-off is €2,5m.
The activity partners own contribution (co-funding) must be at least 50% of the activity’s budget.
The main drivers of the program are excellence, market impact and contribution to EIT Digital’s financial sustainability.
A strong Innovation Activity proposal will demonstrate:
• Problem/Solution: A specific solution for a relevant business pain that can create or disrupt markets and that is aligned with EIT Digital’s focus areas.
• Market impact/customers: To achieve the claimed market impact during the activity’s timeframe.
• Venture team: The quality of the team and its commitment to the venture are key in order to prove the capacity of the venture to scale.
• Financial planning:
• The Resources shall be executed during the activity timeframe as defined in the proposal’s workplan.
• Additional financial support by third parties (investors, partners, etc…) is considered a plus.
Finally, to account for EIT Digital’s financial sustainability:
• Activities are requested to contribute to the financial sustainability of EIT Digital through equity transfer. The equity offer needs to be justified and reflect the venture’s current maturity and valuation. The guidance range is from 5.5% to 12%.
• The venture must have the characteristics (sound IP, scale-up potential) to provide long-term value to EIT Digital’s financial sustainability.
Only ventures with IP ownership (filed or granted) or clearly definable know-how will be considered for support.
Proposals for Innovation Activities must be submitted for a specific EIT Digital focus area (Digital Tech, Digital Industry, Digital Cities, Digital Wellbeing and Digital Finance).
These submissions should be made by a team comprising 2-4 complementary organizations, including one venture to be boosted. Additionally, the participating entities must originate from at least two different EU member states or countries associated with Horizon Europe. EIT Digital can offer support in finding partners to complete teams.
The venture to be boosted has been incorporated between 01/01/2020 and the submission date.
The activity partners own contribution (co-funding) must be at least 50% of the activity’s budget.
The equity proposal to EIT Digital from the venture to be boosted is between 5.5-12%

