EU project “European Data Incubator”: etventure supports big data start-ups all over Europe

Berlin, 28 March 2018 – The etventure Startup Hub, the startup division of digital consultancy and company builder etventure, is implementation partner of the “European Data Incubator” (EDI). The EU project aims to develop data-based business models and use new technologies across country and industry borders. Starting today, March 28th, start-ups throughout Europe can apply for the incubator program (www.edincubator.eu).

“The big challenge in the field of big data is not collecting data, but the question of how this data is actually used in a meaningful and integrated way”, explains Laura Kohler, Managing Director etventure Startup Hub. “With the European Data Incubator, this is exactly where we step in. We will support innovative teams to develop smart business models for a wide range of industries – from the automotive and mobility sector to the media industry – on the basis of existing data.”

“Explore, Experiment, Evolve”

Over the next 3.5 years, the “European Data Incubator” is expected to build and support around 140 big data start-ups from all over Europe with a funding volume of 5 million euros. A total of three batches with a runtime of nine months each are planned, which will be divided into three incubation phases: Explore, Experiment, Evolve.

Start-ups can apply for the first phase “Explore” until June 27th. 45 start-ups will initially be selected and receive an initial funding of 5,000 euros. In the second phase “Experiment”, the 16 start-ups with the most promising prototypes will continue to be supported and each receive 80,000 euros in funding. The third phase “Evolve” finally aims to successfully place the business model of the six best startups on the market and initiate follow-up financing as well as partnerships. During the three phases the start-ups will be supported with up to 100,000 euros, equity-free.

etventure Startup Hub is core partner

As one of four core partners of the EU project, etventure Startup Hub is responsible for the selection and support of the start-ups. Coordinator of the EDI is the University of Deusto. Another 15 partners also act as “data providers” and provide the data on the basis of which the start-ups develop business ideas and thus solve problems in various industries and across borders.

“The European Data Incubator not only enables us to contribute our many years of experience in setting up start-ups and managing EU projects, but also to participate in the development of pioneering technologies,” says Laura Kohler. In recent years, the etventure Startup Hub has established and managed the EU accelerator “EuropeanPioneers” and coordinated other Europe-wide startup and technology projects, including the “IoT- European Platforms Initiative” (IoT-EPI), which is funded with 50 million euros.