INNOSTARS AWARDS 2018
Do you have an entrepreneur mind-set with a prototype or an MVP? Would you like to validate your prototype or MVP on the market in form a of competition?
Deadline: May 15th, 2018, 16.00 CET Apply under the following link
InnoStars Awards is a training and competition program in which 25 early stage companies and SMEs receives € 8 000 (1) funding as smart money for business development and product validation. Moreover, selected list of candidates will be allowed to participate in InnoStars Final pitch event and win awards up to € 25.000 (2) to launch their product or service.
Purpose of InnoStars competitions:
- To support the applicants in realizing next steps towards the market and shorten time-to-market for innovative products and services.
- To verify the need/benefit of the product/service for users/customers/payers/partners.
- To increase the possibility to attract private investment.
Is it for me? Eligible applicants and projects
InnoStars Awards program is suitable for early stage companies and SMEs that already have prototype or an MVP. The company must be incorporated/registered before the sub granting agreement initiation.
- Must be in English.
- Submitted through EIT Health InnoStars Registration platform. Incomplete submissions, late submissions, or submissions via any other routes (e.g., email) will not be accepted.
- Applicants can apply from the following counitires: Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Greece, Hungary, Italy, Latvia, Lithuania, Malta, Poland, Portugal, Slovakia, Slovenia, Spain, Romania, Albania, Armenia, Bosnia and Herzegovina, Faroe Islands, Former Yugoslav Republic of Macedonia, Georgia, Moldova, Montenegro, Serbia, Turkey, Ukraine
- Companies who received grant in 2017 EIT Health Catapult competition are not eligible to apply.
In order to be eligible, proposals must contain all the required information, be completed via the online form and be received by the deadline 15th May, 2018, 16:00 (CET). Late or incomplete submissions, or submissions via any other routes (e.g., email) will not be accepted.
Program elements and selection process
InnoStars Awards offers a 2-stage program structure where both stages offer challenges, opportunities and valuable prizes for the best performing applicants.
Stage 1 – Mentoring and Training
Submit a high-quality application for InnoStars Awards competition to:
- win € 8.000 smart money (3)
- receive mentoring and
- trainings in business plan development
- receive invitation to InnoStars Final pitch event
- have access to EIT Health’s Investor network
- have access EIT Health’s Living Labs and Test Beds network
After the completion of “Mentoring and Training” part submit your business plan by October and qualify for the final pitch of InnoStars Awards. (4)
Stage 2 – InnoStars pitch competition
Pitch your business plan to an international jury consisting of healthcare professionals, representatives of EIT Health core industrial partners and market experts. Win up to € 25.000 (5) to launch your product or service, to find first customers and to get in connection with EIT Health Partners from all over Europe. Present your success story in the local and European media.
Timeline (Dates may change)
May 15th Submission deadline for applications
1st June – Announcement of top 25 applications
July 15th – October 15th –mentoring and trainings for top 25 applicants
November 30th - InnoStars Awards final pitch
- The language of the competition is English.
- Selection criteria:
- Well-defined prototype or MVP
- Fit with EIT Health strategic objectives
- Novelty and feasibility of the approach
- Value proposition
- Potential market impact of the product/service
- Qualified team with the capacity to bring the innovation to market
- Impact of the opportunity on the local InnoStars Region
- Winners will sign a grant agreement with EIT Health InnoStars. Only established legal entities can sign the grant agreement.
(1) Amount may change (2) Amount may change
(3) Top 25 InnoStars Awards applicants – evaluated by an international expert body – receive € 8.000 tied aid (sub-grant) to spend on individual mentoring and training.
(4) Business plans of the 25 selected companies will be evaluated by a panel of international experts. Top 6 companies will be invited for the pitch event to pitch.
(5) Best 3 companies will be awarded at the pitch event (1st: 25.000 €; 2nd: 20.000 €; 3rd: 15.000 €)
In case of questions you can contact local coordinators indicated in "Locations" menu.