Deadline: October 15th, 2015 at 13:00 p.m (CET) | Apply here
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Eligible countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and United Kingdom.
Associated countries: Albania, Bosnia and Herzegovina, Faroe Islands, FYR Macedonia, Iceland, Israel, Liechtenstein, Moldova, Montenegro, Norway, Serbia, Switzerland and Turkey
Funding: EUR 100,000 per project
IMPACT (Internet Mobile Projects Accelerator) is one of the 16 consortiums selected by the European Commission within the framework of the Seventh Framework Programme. It is made up of ISDI, Buongiorno, Teknologiudviking ApS , Seaya Ventures and a network of entrepreneurs and well-known professionals of the digital European ecosystem.
- Accelerates at least 64 European start-ups focusing on Mobile Internet.
- Subsidizes each start-up up to 100,000 euros without equity consideration whatsoever investing a total of 6,400,000 euros in 2 years of time.
- Provides Premium Acceleration Service during 6 months consisting in Training and Mentoring under the guidance of key world class digital ecosystem professionals and entrepreneurs.
- Manages the most promising start-ups towards the Extended Investment Phase with Business Angels and first class global Funds.
IMPACT Accelerator will physically operate in the B-Ventures Headquarters in Parma and in Digital Acceleration Centers of ISDI in Madrid & Barcelona, although this does not include space for the start-ups.
In the Extended Funding Phase, the start-ups selected by the Consortium needing globalization can count on the Buongiorno Headquarters in 14 countries, with a contact in Mexico DF through the ISDI agreement with StartupMexico, and connection with Silicon Valley through 500 Start-ups and RocketSpace, participated by Docomo Innovation Inc.
How it works
Digital entrepreneurs, start-ups or SMEs established in Europe or at least with their management team located in Europe where Mobile* is key in its business model and who use FI technologies.
* Mobile: IMPACT will consider as Mobile domain: mobile apps or business models based on mobility in the areas of: communication; social networks; video, media & advertising; design; education; entertainment; ecommerce; peripheral devices; content; connected TV; infrastructure; security; productivity; finance; smart cities and social entrepreneurship, amongst others.
The projects IMPACT Accelerator is looking for, are Projects with a working prototype already available, with at least two founders working full-time on the Project, owning at least 51% of Shareholders’ Equity.
The market launch target date must be within the 6 months of the acceleration program. If already launched, the service/product must have been in the market for less than seven years.
There will be three selection phases. Each phase will be initiated with an Open Call across Europe.
- Candidates will present their projects via the online Funding Box platform. Those complying with the standard requisites will go on to the second step of Selection.
- In phase 2 the projects will be evaluated by a Panel of independent Experts. Those with the best marks will present their projects to a jury in the Jury Day.
- Lastly, the Selection Committee will determine the start-up finalists to start the Acceleration Program.
Funds will be disbursed in 3 installments throughout the acceleration process and subject to the attainment of certain business milestones set by the entrepreneurs and their mentors.
PHASE 1: 25% – Month 0. Or after the process of selection and signing a grant agreement.
PHASE 2: 50% – Month 3. After fulfillment of business milestones agreed on.
PHASE 3: 25% – Month 6. After fulfillment of corresponding business milestones agreed on. This last stage has, in turn, 2 scheduled payments breakdown; 10% at completion of acceleration and the remaining 15% 6 months after completion.
Acceleration process is based on two modules: Training & Mentoring.
Impact will organize events, pitching competitions, networking sessions & demo days with top-notch European investors for those start-ups completing the Acceleration process in what is called the Extended Funding Phase. In this Phase the IMPACT consortium can invest up to 250,000€ in selected start-ups with a 25% discount agreed on in the grant agreement. Aside from the investment opportunities this entails, these events give media exposure to the entrepreneurs & their projects.