This call is for start-ups who consider that they already have an innovative offering (at TRL 4-6) – and who see an opportunity in rapidly developing this offering to the exploration, mining, mineral processing, metal & mineral, steel-making and recycling industries as well as suppliers of equipment and tools to these industries.
Phase 1 is about building proof of concept for the business model in the targeted raw materials market segments. It starts with ideas at TRL 4-6 and aims to find a market niche, to develop a financial model, and to build a business model. Selected start-ups will receive €15 000 as funding to cover their costs for participating in Phase 1 of the RM Accelerator.
Objectives for Phase 1:
- Identify beachhead market, market size, customer pain
- Identify key value drivers, good margin/product and margin/year, estimate financial needs
- Compose a founding team, identify roles and coming needs for the team.
Phase 1-Explore has a 3-months duration. It starts with a workshop, followed by bi-weekly calls with experts. It ends with a Graduation Day, where the start-ups pitch their idea. Graduation Day is also the stage-gate to Phase 2 in the RawMaterials Accelerator.