Call for Proposals: Ventures Thrive Programme

Scope of the Second Call

• Ventures Thrive aims to support deeptech startups in their path to the market. They provide equity free funding through a curated growth programme, which will connect startups with additional investment and corporates to test their developments in real world scenarios.
• Venture Thrive is a 3-phase programme consisting of: Phase 1 (START) which includes a Masterplan and Pitch Contest; Phase 2 (GROWTH) which provides services including mentoring, masterclasses, and corporate contact; and Phase 3 (RAISE) which includes the Demo Day. All startups who participate in the programme will have a dedicated coach (from the Ventures Thrive team) who will track and monitor their progress with brief monthly meetings. The pitches and demo days will be organised in-person, whereas the other activities will be online.
  • Phase 1: Start
    • This stage is open to all companies who apply and are accepted into the “shortlist” of 20 highest scoring applicants from the evaluation process. Phase 1 consists of 2 parts: a) preparation of a Masterplan, and b) participation in a Pitch Contest:
    • For the Masterplan, each startup will define specific KPIs from 4 areas:
      • Product Development
      • Business Development
      • Fundraising Strategy
      • Startup Europe Liaison
    • The Pitch Contest will take place as a breakout session at one of Europe’s leading startups events, such as the Wolves Summit, typically taking place in May. This event will be judged by experienced investors and industry professionals. Each startup will receive a payment of €5,000 as compensation for travel and related expenses to attend the Pitch Contest. 10 startups will be chosen to advance to Phase 2.
  • Phase 2: Growth Programme
    • Companies who advance to Phase 2 will qualify for the €80,000 equity-free growth funding. This amount consists of €75,000 in cash (two payments of €37,500 each) and a €5,000 voucher for mentoring and masterclass services.
    • All startups in the Growth programme will have a dedicated coach (from the Ventures Thrive team), who will monitor their progress on a monthly basis. The growth programme will include the following services (sessions will be scheduled in advance and charged to the voucher):
      • Dedicated Mentoring: Startups are assigned and they may choose from a pool of accomplished professionals for 1-hour, one-to-one mentoring sessions.
      • Masterclasses & Workshops: Startups will attend Masterclasses and Workshops, taught by international experts. Indicative topics: Innovation Strategy, B2B Sales, Corporate Governance, Risk Mitigation, IP Protection.
      • Corporate Procurement: Startups may be connected with representatives of relevant corporations (from companies who are aligned with the Ventures Thrive programme) to assist their approach to the Challenge Area they have chosen (Health, Energy etc.). The intent is to provide a corporate perspective and provide chances for commercial cooperation between the corporations and the startups.
  • Phase 3: Raise
    • This stage focuses on investment and closes out the programme. Like the first phase, it will take place as another break-out session at a leading startup event, such as Wolves Summit. Startups will gather (in person unless otherwise arranged) for a half day of training and feedback, as well as investor contact, prior to their final pitch at the Demo Day.
      • Investment readiness: Prior to the Ventures Thrive Demo Day, startups will work with a mentor for a detailed review of their fundraising materials (pitch deck, 1-pager, financial summary), and a peer feedback session. In their pitch, startups should reference the progress they have made during the Ventures Thrive programme.
      • Demo Day: This final event will give each company the chance to pitch their startup to investors, and present the merits and milestones achieved during the programme. The jury panel will select the best three startups for cash awards (€15K, €10K, €5K). Startups are expected to have investor meetings during the event to conduct their own fundraising activities.

Ventures Thrive Corporate Challenges

• Ventures Thrive Corporate Challenges are opportunities for startups to address innovative solutions to established corporations operating in various sectors. The second call introduces new challenges in the areas of Health, Medicine, Biotechnology and Veterinary Medicine, whereas Agriculture & Waste, Marine, and Energy have been retained as challenges from the previous call.
• Startups with cutting edge, disruptive technologies, partnered with visionary companies are the key to boosting the EU’s economic and social transformation, faster digitalisation and sustainable innovation-based growth.
• Ventures Thrive encourages startups with disruptive and cross-thematic solutions. Note that many solutions can address multiple areas, for example: mitigation of toxic agricultural runoff to reduce marine pollution.
  • Challenge 1 – Health
    • Addressing the upstream determinants of disease, such as those related to agricultural and food processing practices, energy generation, industrial production, land use, built environment and construction, reduce the health threats and burden resulting from hazardous chemicals, biodiversity degradation and air, water and soil contamination and pollution.
  • Challenge 2 – Medicine
    • Addressing unmet medical needs through high quality, safe, effective and greener medicinal products, medical equipment and diagnostics capable of reducing the disease burden on patients through better understanding and treatment of diseases.
  • Challenge 3 – Biotechnology
    • Solutions for global needs relating to health, ageing and the environment, enabling cheaper, safer and more ethical products with minimal side-effects.
  • Challenge 4 – Veterinary Medicine
    • Develop innovative and more effective veterinary medicines and technologies to prevent, diagnose and treat disease in animals.
  • Challenge 5 – Agriculture and Waste
    • Transforming Europe’s agriculture sector and food systems to sustainable, low ecological footprint, automated, healthy, and inclusive – from production to consumption and waste management – that provide safe, nutritious and affordable food, ensuring competitiveness and guaranteeing healthy soil, air, fresh and marine water.
  • Challenge 6 – Marine
    • Technologies to enable more sustainable protection of the marine environment and sustainable use of marine waters, fisheries, aquaculture, seabed resources and renewable energy, such as offshore wind farms.
  • Challenge 7 – Energy
    • Solutions for boosting renewable, affordable, and clean energy deployment, including solutions for emissions reduction, accelerating the “green” and “just” energy transition.

Why join the programme?

• €1,500,000 million EQUITY-FREE
  • Once accepted on the programme, you are eligible to receive up to €100,000 equity-free funding (cash + services) subject to reaching programme milestones).
• Global Network
  • Access to a global network of mentors, corporate partners, industry experts, and investors from 20+ countries.
• Strategic Partnerships
  • Connections to the leading corporates in your industry for pilot projects, partnership opportunities, and as customers.
• Investor Access
  • Meet the most active VCs and Angel investors in your industry from around the world.
• Masterclasses
  • Legal, finance, go-to-market and assistance in identifying and applying for R&D grants to help mature your technology stack with non-dilutive funding.
• 8-month programme
  • A once in a lifetime opportunity to join a specialised deeptech accelerator + venture builder, providing hands-on support and valuable introductions to scale your business.
• Increased Visibility
  • Celebrate your achievements during the programme in front of 1000+ investors, corporates, mentors, fellow entrepreneurs, and press attendees.
• Funding & Sales
  • Partner with leading companies to increase your product launch and sales capabilities. Build your network of investors, and explore public funding opportunities.

Eligible Countries

Companies established or operating in the Widening area, defined by the European Commission as:

• EU member States: Bulgaria, Croatia, Cyprus, Czechia, Estonia, Greece, Hungary, Latvia, Lithuania, Malta, Poland, Portugal, Romania, Slovakia and Slovenia.
• Associated countries: Albania, Armenia, Bosnia and Herzegovina, Faroe Islands, North Macedonia, Georgia, Moldova, Montenegro, Serbia, Tunisia, Turkey and Ukraine.
• Outermost Regions (defined in Art. 349 TFEU): Guadeloupe, French Guiana, Martinique, Réunion, Saint-Barthélemy, Saint-Martin, the Azores, Madeira and the Canary Islands.

Eligibility Criteria

Under Horizon Europe, and therefore pertinent to the Ventures Thrive eligibility criteria, a ‘startup’ should be understood as an SME in the early stage of its life cycle, including those that are created as spin-offs from university research activities, which aims to find innovative solutions and scalable business models, and which is autonomous within the meaning of Article 3 of the Annex to Commission Recommendation 2003/361/EC. The accepted applicants for the Ventures Thrive 2 nd Open Call are deeptech startups, ensuring that:

• Only companies complying with the legal definition of SME, according to the European Commission Recommendation 2003/361/EC will be eligible. As a summary, the criteria which define an SME are:
  • Independent (not linked or owned by another enterprise)
  • Headcount in Annual Work Unit (AWU) less than 250
  • Annual turnover less or equal to €50 million OR annual balance sheet total less or equal to €43 million.

For more information, visit Ventures Thrive.