It’s only a matter of days until the 16 EDI startup teams gather together in Bilbao, bringing the ‘Experiment’ incubation stage to a close.
After some final 1:1 mentoring, business support, networking, the startups will battle it out with pitching and a business plan evaluation, and 6 winning startups will be chosen to pass to the next ‘Evolve’ phase.
This coming Monday 18 February, the 16 robust startup teams taking part in EDI incubation will travel from all over Europe to meet again in Bilbao, alongside their mentors, project partners and data providers. In total, 70 people will attend this event that constitutes the final sprint of EDI ‘Experiment’ phase, which began back in November 2018.
The startups are busy preparing for the event in a few days time – check out these images from team Zylk.
Over the last 4 months, these 16 startup teams have completed the intermediate EDI incubation phase, ‘Experiment’, with the goal of creating an MVP (minimum viable product) to launch into the market. At this event, they will continue to receive mentoring sessions, hone their business plans, prepare their presentations and pitches, and check if they have met their KPIs.
If the startups have met their expected goals, they will ‘graduate’ from this EDI incubation phase and receive up to 80,000€ in finance.
Who will be chosen?
On day 2 of the event, the 16 startups will each pitch their product to a panel of judges, hoping to be one of the 6 startups selected to go through to the ‘Evolve’ stage. On day 3, the 70 attendees will join together to hear the deliberations of the judges panel and find out which 6 startups have been selected.
This announcement will be attended by local startup players and representatives from the local press, making it a prime opportunity for the startups to catch the attention of potential investors and partners.
A market opportunity
For the lucky 6 startups, the ‘Evolve’ stage (March 2019- April 2019) will be a two-month period dedicated to building solid partnerships and detecting real investment opportunities for the startups’ big data solutions. The projects will be encouraged to gain enough traction for investment in terms of sales, prospects, users, markets and customers. The winning startups can also gain up to 15,000€ in finance.