A collaboration of the European Innovation Council (EIC), Corporate Venturing Network (CVN) & collaborative innovation district Cumulus Park
The EIC, Cumulus Park and CVN organize matching Europe’s best SMEs to your business challenge – bridging the gap between EIC-funded innovators and large established firms to facilitate collaboration and develop new business opportunities.
What is the European Innovation Council?
The European Commission has introduced a European Innovation Council (EIC) to support high-risk, high-impact ideas, turning science into new business and accelerating the scale-up of ’game-changing’ innovators shaping the future. As Europe needs to capitalise on its science, innovative SMEs and start-ups, to be able to compete in global markets which are increasingly defined by new technologies. Currently in its pilot phase, the European Innovation Council will be fully implemented from 2021 under Horizon Europe. It will support our global competitiveness by helping our best innovators develop and scale their groundbreaking ideas.
- The Enhanced EIC pilot supports top-class innovators, entrepreneurs, small companies and scientists with bright ideas and the ambition to scale up internationally.
- It brings together the parts of Horizon 2020 that provide funding, advice and networking opportunities for those at cutting edge of innovation.
- Majority of the portfolio are mature scale-ups, currently more than EUR 2 bn invested.
- Through the network of CVN and Cumulus Park it connects these selected innovative SMEs to corporates throughout Europe interested in their solutions.
Who is it for?
Corporates with burning business challenges – keen on finding new solutions or business opportunities. This process facilitates challenges of 3/4 corporates in this round.
What is the process for corporates?
- Submitting challenges > deadline 20 April
- Send us a brief description of your company and additional information you want to publish about your company to the SMEs
- Send us a brief description of your challenge topic and a number of more specific underlying questions or details indicating what you are looking for
- Optionally: first ideas on how you prefer to work together in case of a positive match
- Challenge launched to network of SMEs throughout Europe > 24 April
- The challenges are shared with all SMEs invested in by EIC
- Selection of SMEs applied > end of May
- SMEs have 3 weeks to apply to the call – process is managed by EIC
- Corporates select most interesting SME they wish to meet
- Preparation for matching
- SMEs are mentored and guided by EIC to prepare for an impactful pitch - a 3-step training
- Corporates are asked to participate in preparation call where they share what they specifically need during the matching event
- Matching event > 29/30 June
- 1-on-1 meetings between corporate and selected SMEs
- Facilitated by EIC
- Speeddate session (to replace networking event)
Please note: We are keeping a close eye on Corona developments. All preparations to this event – from both SME and corporate perspective are online. We expect the matching event to also take place online. If the situation changes and allows for blended matching (incl F2F) this can be considered upon request.
In which type of SMEs has EIC invested?
The portfolio consists of:
- 5,382 SMEs
- EUR 2,5 bn. funding provided (2018-2020)
- 30% success rate in signing LOI with SMEs during or post-event
- On average 80% of the SMEs in the portfolio are in scale-up stage
- The datahub with SMEs and type of investments can be viewed online
- Indication of funding provided to 5 most allocated sectors:
- HEALTH EUR 407 mln
- ICT EUR 389 mln
- ENGINEERING& TECHNOLOGY EUR 253 mln
- ENERGY EUR 252 mln
- CONSTRUCTION & TRANSPORT NETWORKS EUR 245 mln
- Contact us no later than 15 April 2020 to express your interest at Ditmar@Cumuluspark.com
- Provide us with a description of your challenges (see above) before 20 April 2020
- Have a dedicated contact person in charge of making the selection based on your challenge and participate in conference call to provide more details to SMEs
- Delegate 4 to 6 attendees with decision making power from your organization to the (online) matching event on 29/30 June
- Your commitment is leading in selecting corporates – no additional costs involved.
April 20 - Deadline submitting your challenge
April 25 - Launch of challenges to SME network
29/30 June - Online matching event