The EIT AI Community is an initiative of the European Institute of Innovation and Technology (EIT), led by EIT Digital, aimed at fostering the European AI ecosystem and boosting business and skills based on the triangle model.
The Disruptive AI programme aims to boost AI innovation in Europe by supporting high-risk, high-gain ventures. It provides mentorship, networking, and investment opportunities to help AI start-ups thrive.
Europe has significant potential to enhance its standing in the global AI landscape, but currently faces challenges in maintaining its competitive edge (EU Innovation Agenda 2030). To address this, EIT Digital has committed to supporting “high-risk/high-gain innovation” to position Europe at the forefront of AI advancement.
The EIT AI Community, led by EIT Digital, launched a programme in 2024 focused on early-stage ideas in Disruptive AI.
Offers to applicants:
- Personalized Mentorship: Receive expert guidance to refine your innovation and business strategy.
- Investment Opportunities: Pitch to a wide audience of investors and strategic partners.
- Visibility and Recognition: Gain significant recognition within the EU AI ecosystem.
- Networking: Connect with top talent, investors, and industry leaders.
- Accelerated Growth: Access training and support to fast-track the development and commercialization of your AI technologies.
- Cost Savings: Benefit from a service valued at over EUR 5000 for free, saving valuable resources for your startup’s growth.
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Who is the programme for?
The ideal participant is a European early-stage AI start-up with disruptive, high-risk, high-gain innovation ideas. The start-up should have 1-3 years of activity. The programme is not suited for individuals or mature scale-ups.
Assessment Criteria
- Degree of Innovation and Disruption: How groundbreaking and transformative the AI technology is, with a focus on its potential to disrupt existing markets and create new ones.
- Market Potential: The potential size and growth trajectory of the market, emphasizing untapped or emerging markets where the startup can create significant impact.
- Scalability: The startup’s ability to scale rapidly and efficiently, considering both technological and operational scalability.
- Risk Level: The startup’s willingness to take substantial risks, balanced by a clear understanding of those risks and strategies to mitigate them.
- Visionary Team: The entrepreneurial vision, expertise, and risk-taking capability of the startup’s team, including their track record of innovation.
- Feasibility of Disruption: The practical feasibility of the startup’s disruptive potential, considering technical viability and implementation challenges.
- Potential for High Reward: The expected returns on investment, focusing on the high-reward nature of the startup’s technology and business model.
- Strategic Fit: Alignment with the EU goals and ability to leverage the EIT ecosystem and resources provided to maximize disruptive impact.
Financial backing from third parties such as investors and strategic partners will be considered a strong indicator of the startup’s credibility and potential for success. Moreover, EIT-supported startups will be highly prioritized as they are already strategically aligned and have proven team competencies and market potential.
Expected Outcome
As an outcome of the programme, you can expect to receive tailored mentorship and strategic guidance, opportunities to secure funding and form strategic alliances through investment events, and enhanced visibility and recognition within the EU AI ecosystem, potentially leading to further growth, and scaling opportunities.
Source: EIT Digital 2024