€75k Equity-Free Grants available for Women-Led Deep Tech Companies

This project is a continuation of the Women TechEU scheme that was managed before by the EISMEA (European Innovation Council and SMEs Executive Agency) during 2021 and 2022, and it has now become a fully-fledged cascade funding project that is run by an EU wide consortium made up of different innovation ecosystem players, representatives of women entrepreneurs and also investors.

During 2 years the project will give out a total of 12 M€ in non-diluting finance over 4 different competitive calls. Each cohort of successful entrepreneurs will then be also invited to use the menu of business development services that will be provided over a period of 6 months.

Objectives

• The main objective of the project is:
  • To create a targeted programme of support for women founders and entrepreneurs leading deep tech start-ups from Europe to grow into tomorrow’s tech leaders and to put women at the forefront of deep tech in Europe.
  • Women TechEU will leverage its experience and the strengths of existing start-up accelerators, Universities and other multiplier organizations around Europe to foster greater long-term inclusivity of women in deep tech.
  • Green, digital and social transitions in line with European objectives, and will support accepted applicants in defining a social innovation strategy. The project will also target less advanced innovation territories (widening areas) to reduce territorial inequalities in access to innovation support.

What they will provide?

• This unique Women TechEU Programme offers:
  • Women mentors (one meeting per month during 6 months): As part of the programme, they will offer women entrepreneurs access to carefully selected, and experienced women mentors who will provide guidance support, and valuable insights tailored to each founder and designed to help them succeed in their business ventures.
  • Investor outreach and pitch preparation: They will open doors and make introductions to investor entities (business angels, VCs, funds) in their networks who are positively welcoming women entrepreneurs.
  • Investor and Export Readiness Check: Using a structured approach with questions on the core business areas, the start-ups will be assessed on team, product, market, finance, operations and IP in order to determine if they are ready to pitch in front of investors, or present to potential clients.
  • Soft Skills Training: Since the Women TechEU start-ups are at the beginning of their entrepreneurial journey, the women entrepreneurs will be offered development content on soft skills areas like public speaking, presentation, leadership skills, improve productivity by using AI, and more.
  • Sales Strategy & Execution: The go-to-market strategy is the area where most companies fail. They see this in front of investors as well as in pitches to competition or awards juries.
  • Environmental Impact Assessment: The environmental impact of technology and business models from entrepreneurs is a growing area of interest to investors.
  • Corporate Access: Leveraging the large network of corporates provided by EIT KICs, this service provides a platform for women-led start-ups to connect with potential partners and customers.

Funding Information

• The total available budget is €3,000,000.
• The total funding limit for a single organization across all Women TechEU calls is set at €75,000.

Eligibility Criteria

• Women TechEU targets women-led early-stage deep tech start-ups.
  • Established country: the applicant must be established in an EU Member State or Horizon Europe Associated Country Early-stage start-up:
    • The legal entity should be established at least six months prior to the deadline of the submission date.
  • Early-stage start-up: Early-stage refers to the phase of start-up development generally preceding the rapid growth phase. As an indication, the following criteria will be considered, amongst other to define an early-stage start-up:
    • Start-ups that have been established and operating for not more than 8 years counting backwards from submission date.
    • Start-ups that have raised limited funding (up to 1 M € in equity).
    • Before reaching a high fidelity Minimum Viable Product.
  • Women leadership: Women legally recognized as founders or co-founder of the company. The founder or co-founder of the company must also currently hold a top management position (CEO, CTO, CSO or equivalent) within the same company. It will be also required that women hold at least 25% of the shares in the CAP table (capitalization table) of the company.
  • Deep tech: Deep tech innovation aims to provide concrete solutions to societal problems by finding its source in a deep interaction with the most recent scientific and technological advances and by seeking to produce a profound impact in the targeted application areas.

For more information, visit Women TechEU.