Ready2Scale Acceleration Program

Startups that have been selected to participate in the Acceleration Program, based on selection criteria developed by the project partners, will receive an individual development plan that meets their needs and helps them overcome specific challenges. The Investment Readiness Program will provide know-how on how to become investment-ready and therefore build the fundraising capacity of DDT start-ups. The selected 25 DDT start-ups will also benefit from tailored training on how to get funding through the EIC and other European programs.

The Ready2Scale project aims to connect Digital and Deep-Tech (DDT) start-up ecosystems, including those from the widening countries, increasing their engagement with EIC, national & international offerings and enhancing their capabilities to scale-up outside national borders. Besides various international workshops and seminars that are focused on the deep-tech field ecosystem stakeholders, the Ready2Scale project aims to set up the Ready2Scale Acceleration program, including impact assessment, a monitoring framework, start-up enrolment, assessment and selection, and implementation of the program. The program itself will include investment readiness training, investor and start-up matchmaking, and market discovery missions.

The Ready2Scale Acceleration Program comprises two essential components: capacity building and financial support.

• Capacity building activities will cover 3 aspects of scaling: investment readiness, expansion to new markets and access to EIC financing.
  • In the framework of Investment Readiness Program (IRP) each start-up will participate in 1:1 mentoring sessions and group investment readiness training where investors and expert venture builders will share best practices on scaling a deep-tech business. Each start-up will be matched with one mentor based on their expertise in the technology, application, target market and/or business function of interest for the start-up.
  • Market Discovery Missions (MDM) to selected countries will be organised (4-5 missions in the scope of the program) and each start-up will have to choose at least one MDM to attend. Each mission will be 4-days long (2-day training on the local business culture and market + 2-days of meetings with different stakeholders). To prepare for the missions, group mentoring will be available to discuss the go-to-market strategy, analyse the competitive landscape of the target market, or to set the export strategy for the chosen market.
  • DDT start-ups – during a tailored workshop session – will also be provided with information that includes EIC offerings, national and international funding, and support on what it takes to be funded by the EIC.
• Following the Open Calls, 15 in the 1st cut-off and minimum 10 DDTs in the 2nd cut-off will be provided with the Grant for the MVP development and initiating their exploration of global markets.
  • To receive the Grant digital deep tech start-ups will sign the Subgrant Agreement, defining terms and conditions of grants.
  • A lump sum of up to 5,000 EUR to cover expenses associated with travel. This includes costs related to contact initiation, Market Discovery Missions, attendance at Future Founders Club events, participation in startup events, and other opportunities aimed at showcasing business solutions on a global scale.
  • Designated for expertise, a lump sum of up to 5,000 EUR enables the DDTs to avail of individual consultations addressing specific challenges associated with scaling. This allocated fund facilitates payment for services rendered by a qualified service provider offering the necessary support.
  • The lump sum allocated for product development amounts to a maximum of 50,000 EUR.

Eligibility

• The Ready2Scale Acceleration Program is open to European Digital and Deep-Tech (DDT) startups with a TRL5 or higher, offering solutions in climate-neutrality, digital and circular economy, clean industry, and user-centric technology development. In addition, their innovations should contribute to the twin transition, and a special focus will be given to entrepreneurs from Widening Countries.
• To be eligible to apply, start-ups must fulfil the following criteria:
  • The company has at least one full-time employee
  • The company is not in a liquidation or bankruptcy process
  • The company is based in an EU Member State (including overseas countries and territories or OCTs) or an eligible non-EU country, including Associated Countries
  • The solution must have technology maturity level TRL5 or higher
• at least one of the following criteria:
  • be digital and deep tech start-ups that have received support from the EIC for supporting their scaleup process in Europe
  • or digital and deep tech startups not yet supported by the EIC, that have already received private investment or EU funding (e.g., under Horizon Europe or the Digital Europe program)

For more information, visit Ready2Scale.