Europe funds another data accelerator to get startups tackling societal problems
A new European Commission funded startup accelerator, Data Pitch, isbeing launched today with the aim ofconnecting built businesses and organisations with lots of data with startups who might be able to help them unlock the value of the info they nurse and therebytackle industrial and societal challenges.
The EC tells itscommitting7. 1 million into data driven invention over the next three years, with4. 8M goingdirectly to fund startups and SMEs via this startup-corporate cooperation Data Pitch program.
Data Pitch will be delivered up to 50 Europeanstartups and SMEs withup to 100,000 in equity free funding, it said today, as well asmentoring, speculation opportunities, and access to data from built the enterprises and the public sphere with eachprogram leading for six months.
Aspokeswoman told us thatData Pitch willoperate across Europe, with the aim being to acceleratebetween two tothree cohorts per year. Startups will be able to apply for a region fromJuly 1, 2017, with successful teamsselected in October and November, and the first cohort joining the program inDecember.
The ambition is to create an innovation ecosystem for Europe, where bigger organisations closely linked with agile startups to innovate and learn from each other, using data as an enabler to solve problems, the EC said in a statement.
The funding for the initiative iscoming fromthe EUs Horizon 2020 program. And thethree-year data-focused accelerator project will be delivered by The University of Southampton, theOpen Data Institute, Portuguese accelerator groupBeta-i and French data marketplace stageDawex.
If youre getting a feeling of dj vu thats because the EC funded a similar project in 2014, called the Open Data Incubator Europe( Odine) likewise providing the same level of funding to startups to do imaginative and inventive circumstances with data. That three time project led to 57 successful jobs producing 16 M in sales and speculation and creating 268 occupations, according to the EC.
In words of particular areas of interest for the new data accelerator, the spokesman said the programhas an open summary and will be led by the datasets available from data providers, although it does also intend to structure this into a specify of sector-specific ways and challenges identified in discussions with industry rulers and professionals over coming weeks.
Among the areas and challenges itsgoing to consider are 😛 TAGEND