After 3 months of spreading the news of the open call far and wide, across Europe and the H2020 associated countries, in total 490 startups and SMEs applied to take part, with 200 finalising their applications.
The team behind EDI would like to express a big thank you to the 490 startups and SMEs from Europe and beyond that applied to take part in the next round of incubation.
Soon the evaluating team will begin reviewing the applications, with results expected for applicants during the week of 22 July 2019. (updates to follow, please keep an eye on your emails).
Who applied to take part?
The top countries of applicants were:
- Spain – 31
- Germany – 26
- Italy – 20
- Portugal – 10
- Romania – 10
- UK – 10
- Netherlands – 8
- Estonia – 7
- Ireland – 6
- Poland – 6
Last year the strongest country of origin was Spain (35%), however, even though this year Spain (31%) continued to be a strong contender, other European countries almost squared up. This demonstrates that the European Data Incubator has been more successful at bringing this opportunity to startups and SMEs in a wider net of countries, including eastern Europe.
Furthermore, applications came mostly from SMEs (76.26%), as opposed to individuals.
Which track was most popular?
For this second round of incubation, there were three tracks to apply.
Last year there was only one way to apply – choose a challenge proposed by our data providers. However, this year, EDI opened up two new ways to apply to give startups and SMEs more freedom to innovate:
Track 1 – Ready-made:
A ‘ready-made’ challenge pre-set by EDI, with options by large corporates in the fields of IoT, transport, sports, gaming, media, energy and the environment, fraud detection, smart cities, retail, and finance. Our companies are established in their markets and can offer you the chance to connect with the sector in a new way, creating long-term relationships beyond the end of the project.
Track 2 – Half and half:
Bring your own challenge, but solve it using one EDI data set and one external data set.
Track 3 – Free choice:
You are free to propose your own challenge, and solve it working with your own data provider and external data set.
This year, most applications came from Track 1 (66.67%), showing that startups appreciated the ease of having a predefined challenge and data set. The most popular challenges were by data providers Yapi Kredi, Migros, Emasesa and Energa.
However, 33.33% of applications came from the two new Tracks, signifying that a third of all applicants valued the extra freedom afforded by these options.
Track 2 (13.63%) gave startups and SMEs the option to choose a challenge from Track 1, but choose their own complementary data. The most popular challenges were by data providers Ubimet, Yapi Kredi and VRT.
Track 3 (gave startups the absolute freedom to define their own challenge, make a partnership with their own data provider and use the data of said data provider.
What happens now?
The startups and SMEs can expect to hear back about their application by the week of 22 July 2019.
After announcing the successful startups and SMEs, the next round of incubation will begin!
Benefits of the programme include:
- The chance to grow not only as a startup, but also a team. After joining our programme, our startups have gone on to receive investment, develop their business in a new way and employ new team members.
- A dedicated mentor who will be with you every step of the EDI programme, communicating with you online and meeting with you face to face at our physical events in Bilbao and Berlin. All of our mentors are experts in their field and have a wealth of experience acting as coaches to startups like yours.
- The chance to work side-by-side with a corporate in a supportive environment, working together to solve their big data challenge. This unique situation provides you the chance to really collaborate on an in-depth project, and could lead to a fruitful and long-term relationship even after the programme has finished.
- The opportunity to create and launch a new product or service that could even be a new business line for you or something that you were already thinking of working on. If you choose our ‘Half and Half’ challenge or ‘Free choice’ challenge, you have the freedom to decide what kind of big data challenge and data set you are working on.
The first EXPLORE phase will begin in September 2019. The startups will receive access to a free Cloud environment for scalable data processing, mentoring, free business support and up to €5k equity free.
Throughout the whole incubation programme, the selected startups have the chance to access up to €100k equity free funding while boosting their growth.
Stay tuned for our upcoming announcement of the selected startups by checking our news and following us on Twitter and Facebook!