From idea to market growth
Are you the next top innovation team offering radically sustainable products or services in the raw materials sector? Bring your idea to the market and apply to the RawMaterials Accelerator.
EIT RawMaterials Accelerator aims to catch and mentor start-ups to rapidly become suppliers to, and perhaps future partners of, the EIT RawMaterials network. Our programme facilitates introductions to customers in the EIT RawMaterials partner network who are willing to adopt innovations. EIT RawMaterials connects local and national ecosystems to the pan-European network of pilot and test infrastructure facilities as well as to potential customers. We also offer supply grant funding to enable start-up teams to participate in the RawMaterials Accelerator.
The programme comprises three phases – Explore, Build and Grow. Each phase has specific objectives, processes and funding schemes. The support includes individual and group coaching, funding and anchoring start-ups in their local and national ecosystems. At the same time, we open up introductions to the EIT RawMaterials community partners on a pan-European level.
In 2022, there will be two cohorts or opportunities to join the programme. The first cohort is invited to submit applications by 8 April 2022, 17:00 CET. Please note the funding amount for Phase 1 is EUR 10 000, while for Phase 2 and Phase 3 will be a combined amount of EUR 80 000.
Phase 1: Explore
Build proof of concept for the business model in the raw materials market segments
This call is for start-ups who consider that they already have an innovative offering and who see an opportunity in rapidly developing this offering to the exploration, mining, mineral processing, metal and mineral, steel-making and recycling industries as well as suppliers of equipment and tools to these industries.
Phase 1 starts with ideas at TRL (Technology Readiness Level) 4-6 and aims to find a market niche, develop a financial model, and build a business model.
- 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 anticipated needs for the team
Phase 2: Build
Validate customer needs and verify business assumptions
- validate customer needs, market size and beachhead market, identify regulations and other specific criteria for technical and market entry
- validate key value drivers, build a five-year financial forecast supporting/financing needs and strategy
- set up a team supporting the next step
Phase 3: Grow
Get your business ready for launch
The offering of the start-ups should be at the start of TRL 7-9 and heading for market entry.
- move from early adopters to early majority market, start exploring follow-up markets
- significant sales or financing deals
- have a complete team, aligned to scale market entrances and sales
- be a provider of new impact driven technology within the EIT RawMaterials value chain