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Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - Scale-EU2p (ecoSystems Connected to AcceLerate and Encourage European Union start-uPs with high Potential)

Teaser

Summary

Scale-EUp2/DeepTech4Good is a market driven project aiming to scale-up 30 IoT/deeptech start-up through the connection of 4 hubs (Austria, France, Germany, Spain). The market focus is on 4 emerging application domains of the DeepTech: Smart Cities, Mobility, Industry 4.0 and Health and Well-Being.

The key objectives of the project, in supporting start-up acceleration, are:

1) Screening and mapping high-potential start-up: The objective is to identify the start-ups with high growth potential, organize coaching sessions to help the start-up fine-tune their strategy and connect them with strategic VC and corporate partners.
2) Facilitating market access: A methodology will be developed to analyze the value chain taking into account the characteristics of the players targeted in the project, their development strategies, the diversity of technological bricks in the emerging field of â€œInternet of Thingsâ€ and the specificities of the 4 applicative domains in the scope of the project to develop concrete, business oriented collaborations between the high-tech start-up.
3) Attracting private and public finance: After a benchmarking phase at each regional level, a board of private investors will participate in start-up fundraising challenges to evaluate the applications and the pitch sessions during the 6 events organized throughout the project. Moreover start-up will be informed, during the open innovation workshops, of every public funding opportunities at the regional, national and the European level to transform the emerging ideas into collaborative projects.
4) Organizing Deeptech4good events to foster collaborations: six events (called DeepTech4Good) composed of 4 main parts will be organized throughout the project:
â€¢ fundraising pitch,
â€¢ a matchmaking event with corporate and VCs,
â€¢ an open innovation workshop, to facilitate the emergence of collaboration projects between the different stakeholders.

Work performed

The overall objective of the Scale-EU2p/DeepTech4Good project is to accelerate, through the connection and the joint efforts of 4 hubs from Austria, France, Germany and Spain, 30 very high potential European DeepTech start-ups offering solutions of 4 verticals: Smart City, Mobility, Industry 4.0 and Health & Well-Being. The first step of the process has been to create a common start-ups database from the 4 hubs and beyond (according to the possibilities) that almost reached 1000 entries the first year. A set of evaluation criteria and an associated analysis have been defined to allow selecting the top 200 high potential start-ups. For their selection, to offer equal chances and attract more (and hopefully undetected) participants, calls for applications have been launched. The start-ups have filled in an application form implemented on the F6S platform.
Two such calls took place during the first year, in close relation to an event aiming to increase the visibility of the start-ups and to allow them to meet corporate partners and VCs. For each call, a cohort of about 20 start-ups have been selected and invited to pitch in front of corporates and VCs, who evaluated them and contributed to select the acceleration programme laureates. The first cohort has been selected only by the consortium members while the second has been chosen in collaboration with a board of VCs, who signed a partnership agreement for the programme, established to support the process. The first event took place in Paris on July 11th and the second in Stuttgart on November 7th, two similar event are planned for the beginning of the next year in Graz and Barcelona. Following the pitch session, that answered one of the main needs â€“ start-up and Deeptech visibility â€“ organized in the scope of each event, 8 laureates have been selected, according to the votes of the participants for the acceleration programme. In addition, to answer the other start-up main needs â€“ business and funding â€“ one-to-one meetings and networking with corporates and VCs have been organized, as well as open innovation workshops, aiming to support the emergence of collaborative projects and apply for public funding. In the process, several partnerships have been established, first with VCs and currently with corporates and ecosystem stakeholders. Two collaborative projects are currently emerging from the DT4G Paris workshops, the proposals will be submitted in March and respectively April. Further details are provided in the description of the WP5.
The acceleration programme consists in 12 days of collective and personalized support, spread throughout 12 months, to support the start-ups refine their strategy if needed, offer business opportunities with corporates and support them in the fundraising process, while simultaneously and bilaterally using leverage from public funding opportunities according to their development stage and needs. Also, to support the process, a dedicated job board has been created on the project website and offers the start-ups the possibility to share their offers. In addition, a partnership with F6S is being established to further disseminate these job offers.

Final results

To set the basis of its support framework, the consortium screened and mapped at the beginning high potential European DeepTech Start-ups and created a common database (updated regularly) of more than 900 contacts. The start-ups have been invited to apply to our events and have the chance to get selected for the acceleration programme. An analysis grid has been defined to be able to select the most promising ones, use for the first event by the consortium to select the finalists, and for the second in collaboration with an initial board of VCs. Two events have been organized and during each event, following a pitch session of the finalists, 8 laureates have been selected through vote by the VCs and corporates present at the event. In addition 78 one to one business meetings with VCs and corporates took place during the first event in Paris and 132 during the second event in Stuttgart. Open innovation workshops have been organized during the 2 events and two proposals are being prepared for H2020 proposals by consortium that integrate start-ups from the project community. During the dissemination activities, the consortium members participated to more than 40 events, meeting over 300 stakeholders and distributing more that 700 flyers. From the contacts established during the dissemination activities, we have not only attracted more participants to the activities, increasing their impacts, but also started establishing long-term partnerships that will contribute to the long-term sustainability of the project.