The area called “Business Creation” corresponds to what the EIT calls the “business” area. It covers activities aimed at transforming innovative ideas and projects into new business for existing companies (large and small) as well as through the creation of start-ups and spin-offs. The area is composed of three major segments:
- “Entrepreneurship Support Services” aims at strengthening the network of organisations across Europe whose purpose is to stimulate and accompany business creation, and at helping them develop services more specifically adapted to the Raw Materials sector;
- The “Start-up and SME Growth Boosters” identifies promising Start-ups and SMEs at CLC level and provides them with specific support;
- “Funding Instruments” refers to activities aimed at helping high-potential entrepreneurs find the required financial support to take innovative concepts over the “valley of death” towards commercialisation.
Within CLCs, Business Developers have the mandate to ensure that promising “entrepreneurs” (general term covering start-ups, SMEs and intrapreneurs) within the KIC get appropriate support to develop their innovation ideas into successful ventures, either through services provided by specialised partners (e.g. technology transfer offices, incubators) or through participation to KAVA activities and services.
Under guidance from the COO and the CLC Managers, the cross-CLC network of Business Developers also plays a key role in defining and implementing the Business Creation & Support strategy of the KIC. In 2016 this should lead to incubate up to five business ideas, create up to two start-ups and fund about twelve innovative ideas with financial support as provided through the “kick-start” funding opportunity.