Ventures Thrive - a pan-European venture builder for deeptech and climate founders - has recently started accepting applications for its second cohort. This programme is targeting deeptech startups based in or operating from Widening Area Countries. Ventures Thrive is backed by the European Innovation Council (EIC) and is specifically looking to address funding shortages and growth difficulties among deeptech startups in the aforementioned area.
The programme is investing a cumulative €1.5 million in the 32 accepted startups over the course of two years, with the chosen startups being eligible for up to €100,000 in funding - €95k in cash and €5k in services, equity-free.
Applications for the second cohort of Ventures Thrive are being accepted until 17th January 2024. Apply today!
Who can apply for Ventures Thrive?
In order to be considered, startups applying for Ventures Thrive must satisfy the following criteria:
- Be established or operating in the Widening area, defined by the European Commission as (1) EU member states, (2) associated countries, and (3) Outermost Regions - as defined in Art. 349 TFEU.
- Offer a product / service and technology that has passed the Minimum Viable Product (MVP) stage (TRL6, technology demonstrated in a relevant environment).
- Offer a deeptech solution leveraging BigData, AI, Blockchain, IoT, and / or Bio-Tech to address challenges, with promising solutions in the identified focus areas.
- Tackle one or more of the seven challenges defined for cohort 2. These are as follows: (1) Health, (2) Medicine, (3) Biotechnology, (4) Veterinary Medicine, (5) Agriculture & Waste, (6) Marine, (7) Energy.
The 7 Ventures Thrive challenges
Below you may find a more detailed explanation of the seven challenges set to be addressed by the second cohort of Ventures Thrive startups.
- HEALTH: Addressing the upstream determinants of disease, such as those related to agricultural and food processing practices, energy generation, industrial production, land use, built environment and construction, reduce the health threats and burden resulting from hazardous chemicals, biodiversity degradation and air, water and soil contamination and pollution.
- MEDICINE: Addressing unmet medical needs through high quality, safe, effective, and greener medicinal products, medical equipment and diagnostics capable of reducing the disease burden on patients through better understanding and treatment of diseases. Increasing the quality and outcome of healthcare with innovative analytical tools, such as imaging, data modelling, and extended reality.
- BIOTECHNOLOGY: Solutions for global needs relating to health, ageing and the environment, enabling cheaper, safer and more ethical products with minimal side-effects. Biological medicines, diagnostics and therapies to tackle unmet medical needs in the pharmaceutical sector, including targeted screening, diagnosis and innovative drug treatments.
- VETERINARY MEDICINE: Develop innovative and more effective veterinary medicines and technologies to prevent, diagnose and treat disease in animals. New approaches to animal management and farming systems, ensuring animal health in areas such as hygiene, nutrition and welfare. Enhance resource-efficiency, sustainability, traceability, oversight and security in the veterinary medicine supply chain from manufacturing to final use.
- AGRICULTURE & WASTE: Transforming Europe’s agriculture sector and food systems to sustainable, low ecological footprint, automated, healthy, and inclusive – from production to consumption and waste management – that provide safe, nutritious, and affordable food, ensuring competitiveness and guaranteeing healthy soil, air, fresh and marine water. Safe and sustainable alternative ways to produce, trade and consume food, amongst other things.
- MARINE: Technologies to enable more sustainable protection of the marine environment and sustainable use of marine waters, fisheries, aquaculture, seabed resources and renewable energy, such as offshore wind farms. Solutions to prevent and eliminate pollution, emissions, marine litter and contaminants (giving priority to prevention rather than clean-up), including zero-emission waterborne transport.
- ENERGY: Solutions for boosting renewable, affordable, and clean energy deployment, including solutions for emissions reduction, accelerating the “green” and “just” energy transition. Smart grids and energy systems, smarter connection of industrial installations to the energy system, diversifying and securing supplies, and modernisation of the energy networks to support energy system integration.
For more information, kindly visit the Ventures Thrive Guidelines for Applicants.
When is Ventures Thrive taking place?
The second edition of the Ventures Thrive programme will run for around 8 months, with 20 startups set to be selected to participate. Applications for cohort 2 opened on 20th October and the finalists will be chosen by early March 2024. The mostly remote programme is split into four distinct phases and is set to come to a close in October 2024.
Phase 1: Apply
Applications for the first edition of Ventures Thrive opened on 20th October 2023 and close on 17th January 2024. Towards the beginning of March, the ‘Evaluation Days’ will take place, wherein startups will be assessed on readiness and fit with the programme. Here, 20 teams will be selected to move forward.
Phase 2: Build
The second edition of the programme will start in March 2024, with the 20 selected startups working with Ventures Thrive coaches to produce a Master Plan around their needs regarding sales and business development, product development, and fundraising from private and public sources. Each team will commit to a set of realistic KPIs to pursue during the Ventures Thrive programme. In Spring, the pitch contest will take place, wherein teams will pitch to industry leaders and corporate partners. All companies reaching this stage qualify to receive a Venture Ticket of €5,000 equity-free, to cover travel and accommodation costs to attend the Selection Days. Ten startups will be selected to continue to the next phase.
Phase 3: Grow
The fully remote Growth Programme will take place between April and October 2024. Throughout this period, the 10 selected startups will attend workshops and masterclasses and receive mentoring and coaching around specific topics related to investment readiness. The programme will support the startups to achieve the KPIs they set. A payment of €75,000 is made against the achieved KPIs.
Phase 4: Raise
The programme will conclude in October 2024 with a Demo Day – a day to celebrate startups’ achievements during the programme in front of hundreds of investors, corporates, mentors, and press attendees. The top three companies will win prizes: 1st €15,000; 2nd €10,000; 3rd €5,000.
What’s in it for you?
- Access to a global network of mentors, corporate partners, industry experts, and investors from over 20 countries
- Eligibility to receive up to €100,000 equity-free funding (cash and services), subject to reaching programme milestones
- Connections to leading corporates in your industry for pilot projects, partnership opportunities, and as customers
- Meet the most active VCs and Angel Investors in your industry from around the world
- Legal, finance, go-to-market, and R&D grant masterclasses to help mature your technology stack with non-dilutive funding
- A once-in-a-lifetime opportunity to join a specialised deeptech accelerator and venture builder, providing hands-on support and valuable instructions to scale your business
- Achievements will be celebrated in front of over 1,000 investors, corporates, mentors, fellow entrepreneurs, and press attendees
- Partner with leading companies to increase your product launch and sales capabilities. Build your network of investors and explore public funding opportunities.
How can I apply?
Interested parties can fill in the application form available on https://venturesthrive.eu. You will be informed of your application’s outcome in March 2024. Programme applications are open until 17th January 2024.
Just last month, the Ventures Thrive team hosted an online Q&A session. There, Programme Leaders Antti Heikkilä (CEO at Acceler8) and Adriane Thrash (Managing Partner at Anthology Ventures) delved into the makings of a successful Ventures Thrive application whilst answering queries about applying to be a part of the programme’s second cohort.
Missed the Q&A session? Worry not! Send over any questions, queries, and challenges concerning your Ventures Thrive application on contact@venturesthrive.eu and we’ll be sure to get back to you as soon as possible.
DISCLAIMER: This information is provided in the interest of knowledge sharing and should not be interpreted as the official view of the European Commission, or any other organisation.