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EIT Awards 2016

Call for Nominations for the EIT

Venture Award

European Institute of Innovation and Technology (EIT)

www.eit.europa.eu

The EIT is a body of the European Union

00508.EIT.2015.D.JP

http://www.eit.europa.eu/

EIT Author Date: 8/24/2015

Contents 1 Introduction - Background ...................................................................................................... 0

2 Objectives ............................................................................................................................... 0

3 Timetable ................................................................................................................................ 1

4 Prize ........................................................................................................................................ 1

5 Admissibility Requirements ..................................................................................................... 2

6 Eligibility Criteria ..................................................................................................................... 2

7 Exclusion Criteria .................................................................................................................... 2

7.1 Exclusion from nomination ............................................................................................... 2

7.2 Exclusion from award ....................................................................................................... 3

7.3 Evidence provided by supporting documents................................................................... 3

8 Selection Criteria ..................................................................................................................... 4

8.1 Criteria .............................................................................................................................. 4

8.2 Evidence provided by supporting documents................................................................... 4

9 Award Criteria ......................................................................................................................... 5

9.1 Criteria .............................................................................................................................. 5

9.2 Evidence provided by supporting documents................................................................... 6

10 Legal commitment .................................................................................................................. 6

11 Publicity .................................................................................................................................. 6

11.1 Publicity prior to the EIT Awards event ............................................................................. 6

11.2 Publication of prize-winner ............................................................................................... 7

12 Data protection ....................................................................................................................... 7

13 Procedure for the submission of Nominations ........................................................................ 8

14 Award process ........................................................................................................................ 9

EIT Author Date: 8/24/2015

1 Introduction - Background In order to promote an entrepreneurial mind-set and a risk-taking culture within the EIT’s

Knowledge and Innovation Communities (KICs), the EIT introduced the EIT Entrepreneurship

Award in 2012. This award was presented to three successful ventures that had benefitted from

each KIC’s business creation support activities.

In 2013, the EIT further developed the concept of the EIT Award. The ‘EIT Entrepreneurship

Award’ was renamed to ‘EIT Venture Award’. The ‘Change Agents and Next Generation of

Entrepreneurs Award` (EIT CHANGE Award) was introduced to incentivise entrepreneurship-

driven innovation at EIT-KIC student and alumni levels.

In line with the EIT’s vision to gradually extend the EIT Awards and cover the three main EIT-KIC

activity pillars of business creation, education and innovation, the EIT introduced the ‘EIT

Innovators Award’ in 2015 to present highly successful innovation teams of the EIT-KICs.

As of 2015, the EIT Awards thus comprise the EIT Venture Award, the EIT CHANGE Award, and

the EIT Innovators Award.

2 Objectives The objectives of the EIT Awards are to promote innovation and encourage entrepreneurship by

putting the most innovative ventures, entrepreneurial graduates, and innovation teams emerging

from the KICs in the spotlight and to create role models to drive future change.

The EIT Venture Award puts successful entrepreneurial start-ups that have been supported by the

KICs through a dedicated business creation or business development process in the spotlight1

Within the EIT Community, the EIT Awards play an important role in celebrating achievements

and success, identifying role models and increasing opportunities for the further development of

the EIT Award winners.

1 In showcasing the entrepreneurial outputs of the KICs, the EIT Venture Award promotes the business creation activities of KICs.

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3 Timetable

4 Prize The EIT Venture Award winner will benefit from:

An increased European-wide promotion of its business and the prerogative to use the

label “EIT Venture Award Winner” in their profiling and marketing activities;

Activity Deadline Comment

Publication of the call for

Nominations

20 October 2015 On EIT website

Deadline for submitting

applications

30 November 2015 Nominees send application and

documentation to KICs (SPOCs)

Assessment and selection of

nominees by KICs

5 December 2015 KICs carry out selection and provide the

EIT names of nominees and all

documentation required by 16

November

Evaluation by EIT 9 December 2015 Check on completeness documentation

and whether the candidates meet the

eligibility, non-exclusion and selection

criteria

If relevant: KICs will be given

opportunity to provide missing

information or new nominees

14 December 2015

Formal publication of nominees 21 December 2015 On EIT website

Communication campaign 21 December 2015 – July

2016

Award decision 25-26 April 2016 During EIT Award event, prior to

announcing the winner of the Award

EIT Award 2016 Event 25-26 April 2016

Provision of prize 24 June 2016 (tentative)

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A monetary prize of €50,000.

5 Admissibility Requirements Applications must be

Sent no later than the deadline for submitting applications referred to in section 3;

Submitted in writing (see section 14), using the application form;

Drafted in English

Failure to comply with those requirements will lead to the rejection of the application.

6 Eligibility Criteria The applicant venture:

Is legally incorporated at the competent national authority of its country of establishment

Is legally registered at the competent Chamber of Commerce (if mandatory in accordance

with the applicable national law).

The evidence to be provided by the venture as part of the application package consists of its

Registration Certificate, its Statutes and a Declaration of Honour

7 Exclusion Criteria

7.1 Exclusion from nomination

Applicants will be excluded from participating in the call for proposals procedure if they are in any

of the following situations in accordance with Article 106 of the Regulation (EU, EURATOM) No

966/2012 of the European Parliament and of the Council:

1. they are bankrupt or being wound up, are having their affairs administered by the courts, have entered into an arrangement with creditors, have suspended business activities, are the subject of proceedings concerning those matters, or are in any analogous situation arising from a similar procedure provided for in national legislation or regulations;

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2. they or persons having powers of representation, decision making or control over them have been convicted of an offence concerning their professional conduct by a judgment of a competent authority of a Member State which has the force of res judicata;

3. they have been guilty of grave professional misconduct proven by any means which the contracting authority can justify including by decisions of the EIB and international organisations;

4. they are not in compliance with their obligations relating to the payment of social security contributions or the payment of taxes in accordance with the legal provisions of the country in which they are established or with those of the country of the RAO or those of the country where the grant agreement is to be performed;

5. they or persons having powers of representation, decision making or control over them have been the subject of a judgment which has the force of res judicata for fraud, corruption, involvement in a criminal organisation, money laundering or any other illegal activity, where such an illegal activity is detrimental to the Union's financial interests;

6. they are currently subject to an administrative penalty referred to in Article 109(1).

7.2 Exclusion from award

In accordance with Article 107 of the Regulation (EU, EURATOM) No 966/2012 of the European

Parliament and of the Council, applicants will not be granted financial assistance if, in the course

of the award procedure, they:

1. are subject to a conflict of interest; 2. are guilty of misrepresentation in supplying the information required by the

Commission as a condition of participation in the grant award procedure or fail to supply this information;

3. find themselves in one of the situations of exclusion, referred to in section 7.1.

7.3 Evidence provided by supporting documents

Applicants must sign a declaration on their honour certifying that they are not in one of the situations referred to in articles 106(1) and 107 to 109, filling in the relevant form attached to the application form accompanying the call for nominations and available at http://eit.europa.eu/activities/entrepreneurship/2016-awards.

http://eit.europa.eu/activities/entrepreneurship/2016-awards

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8 Selection Criteria

8.1 Criteria

The applicant venture:

Offers a product or service which is innovative and marketable, with a European

perspective and the potential to expand globally;

Has already at least one customer or investor in case of long-term science-based projects;

Comprises a team of a minimum three Full Time Equivalents (FTEs) that convincingly

demonstrate that it has the competences to successfully develop the product or service

and bring it to the market;

Has received business creation support by a KIC, i.e. the venture has gone through a

structured business support process offered by a KIC;

Is willing to add value to a KIC, for instance by providing internships to students and

contributing to the strengthening of entrepreneurial strategies, practices and culture of

a KIC.

8.2 Evidence provided by supporting documents

The evidence to be provided by the venture as part of the application package consists of the

following documents:

A description of how the above selection criteria are met (e.g. on the product or service,

on the applicant venture’s team, on the customer or investor, on the link to a KIC)

including the business plan of the venture and relevant accompanying information (see

under award criteria).

A written statement about the willingness of the applicant venture to add value to the

KIC.

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9 Award Criteria

9.1 Criteria

An international jury composed of three members with a diverse background in business creation

and development, investment, and coaching will evaluate the applications and the elevator

pitches based on the following criteria (assessed on a scale from 1-5, where 1 is the lowest score,

5 is highest score):

Criteria

(equal weighting)

Explanation

1. Commercial

characteristics / potential

Need for (or prospect of) product or service Target customers and customer engagement Addressable market size Market growth Competitors Competitive advantage Description of the incumbents' power

2. Technical characteristics

/ potential

Description of the uniqueness and features of product or service

Technology validation Product development risk Intellectual property position

3. Financial characteristics

/ potential

Quality and relevance of the description of the business model (pricing, downstream value, scalability, funding strategy)

Profit potential

4. Societal impact Degree of the societal impact in line with the scope of the KIC

5. Team characteristics Experience/potential and role of the team members Quality of the description of the internal organisation of

work If applicable: identification of short-term talent gaps

and a strategy to fill them

6. Pitch/Presentation Quality and persuasiveness of the oral presentation Professionalism: the clarity, demeanour and

professional delivery of the team and its presentation Quality of answers during the Q&A portion of the

presentation

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9.2 Evidence provided by supporting documents

The evidence on which the award decision is based comprises:

1. For award criterion 1-5: A description on how the above award criteria are met, included in the application package. It is imperative that the information provided enables a proper assessment of the Award criteria. To this end, as a minimum the business plan and accompanying documents should provide the following information:

The market need, or customer pain point the venture addresses and the reason to solve this particular issue;

The product/service developed and discerning (technical) features;

Customers and market opportunity;

The unique value proposition relative to the competition, a competitor analysis and an explanation how the venture will stay ahead of the competition;

Domestic and foreign patents and patent applications;

Important technical know-how;

The venture’s organisational chart with the management team, the background of its members, and plans to fill any positions that are (yet) not covered;

The venture’s list of shareholders and number of shares held by each;

Any projections, capital budgets and strategic plans;

2. For award criterion 6: The applicant ventures will have to present their application to the jury with respect to award criteria 1-5. Under this criterion the quality of the presentation will be assessed.

10 Legal commitment In the event of a prize awarded by the EIT, the awardee will be formally notified of the award

decision, including information about the procedure in view to formalise the obligations of the

parties.

11 Publicity

11.1 Publicity prior to the EIT Awards event

Between the time of the formal publication of the nominees and the elevator pitch/presentation

at the EIT Awards event, nominees will be promoted by the EIT via different channels and media.

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The EIT will work with the nominated ventures to produce different promotional materials,

including their business profiles, videos, interviews …etc.

11.2 Publication of prize-winner

All information relating to the prize awarded shall be published on the internet site of the EIT no

later than the 30 June of the 2016.

The EIT will publish the following information:

name of the prize-winner;

the achievement that has been awarded;

the amount awarded.

Upon a reasoned and duly substantiated request by the prize-winner, the publication shall be

waived if such disclosure risks threatening the rights and freedoms of individuals concerned as

protected by the Charter of Fundamental Rights of the European Union or harm the commercial

interests of the award winner.

12 Data protection The reply to this call for nominations involves the recording and processing of personal data (such

as name, address and CV). Such data will be processed pursuant to Regulation (EC) No 45/2001

on the protection of individuals with regard to the processing of personal data by the Community

institutions and bodies and on the free movement of such data. Unless indicated otherwise, the

questions and any personal data requested are required to evaluate the application in accordance

with the specifications of the call for nominations and will be processed solely for that purpose

by the EIT and the International Jury for the Venture Award. Details concerning the processing of

personal data are available on the privacy statement at:

http://ec.europa.eu/dataprotectionofficer/privacystatement_publicprocurement_en.pdf

Personal data may be registered in the Early Warning System (EWS) only or both in the EWS and

Central Exclusion Database (CED) by the Accounting Officer of the Commission, should the

beneficiary be in one of the situations mentioned in:

the Commission Decision 2014/792 of 13.11.2014 on the Early Warning System (for more

information see the Privacy Statement on:

http://ec.europa.eu/budget/contracts_grants/info_contracts/legal_entities/legal_entities_e

n.cfm ),

http://ec.europa.eu/dataprotectionofficer/privacystatement_publicprocurement_en.pdf

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or

the Commission Regulation 2008/1302 of 17.12.2008 on the Central Exclusion Database (for

more information see the Privacy Statement on

http://ec.europa.eu/budget/explained/management/protecting/protect_en.cfm)

13 Procedure for the submission of

Nominations Nominations must be submitted by the candidates to the KIC contact persons in accordance with the formal requirements and by the deadline set out under section 5. The KICs select and appoint two nominees for the EIT Venture Award and notifies the EIT by the deadline given in section 3.

Applications shall be submitted by the candidates on the correct form(s), duly completed, with all supporting documents, dated, and in accordance with the formal requirements and by the deadline set out under section 5. Application forms are available at http://eit.europa.eu/activities/entrepreneurship/2016-awards. Applications must be sent to the contact person of the KIC concerned given in Table 12 by email with all required documents attached.

No modification to the application is allowed once the deadline for submission has elapsed.

However, if there is a need to clarify certain aspects or for the correction of clerical mistakes, the

KIC and/or EIT may contact the applicant for this purpose during the evaluation process3.

Table 1 Contact points per KIC

KIC Contact person Email

Climate-KIC Susanne Pedersen susanne@climate-kic-nordic.org

EIT Digital Tatu Koljonen tatu.koljonen@eitdigital.eu

KIC InnoEnergy Raj Ghelani raj.ghelani@kic-innoenergy.com

Applicants will be informed in writing about the results of the selection process.4

2 Art. 195.3 RAP 3 Art. 96 FR 4 Art. 133 FR, 205 RAP

http://eit.europa.eu/activities/entrepreneurship/2016-awards

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14 Award process

Each KIC organises its own selection process using the Eligibility, Exclusion and Selection Criteria

set out in sections 6, 7 and 8 of this document and appoints two nominees for the EIT Venture

Award.

The KICs provide the EIT the names of the nominees they put forward along with all required

documentation by 16 November 2015.

The EIT will check if the Eligibility, Exclusion and Selection criteria are met.

Nominated ventures will be invited to deliver an elevator pitch in front of a high-level jury during

the EIT Awards event. The Jury will also have the opportunity to ask for clarifications of the

presentation and/or documentation. The pitch session and celebration will be organised as part

of the EIT Innovation Forum “INNOVEIT” which will be held in Budapest on 25-26 April 2016.

KICs are expected to support their nominees in their preparation of the presentation. In addition,

the EIT may organise a presentation/pitch training prior to the event to work with nominees on

their presentation skills and give them the opportunity to get to know each other.

The EIT Authorising officer will appoint an international jury of three members for the EIT venture

award. The Jury will include one member of the EIT Governing Board and independent external

representatives. The Jury will be supported by an EIT staff member. This Jury, which will have a

diverse background in business creation and development, investment, and coaching, and will

evaluate the nominated ventures based on the documentation, elevator pitches and responses

to questions using the Award criteria set out in section 9 of this document.

The award decision will be made by the EIT Authorising Officer based on the recommendation made by the jury. The EIT Venture Award winner will be announced at the EIT Awards event.

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EIT Awards 2016

Call for Nominations for the EIT

Venture Award

Form for candidate ventures

European Institute of Innovation and Technology (EIT)

www.eit.europa.eu

The EIT is a body of the European Union

http://www.eit.europa.eu/pasztjuTypewritten Text

pasztjuTypewritten Text00508.EIT.2015.D.JP

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Information about candidate Venture

Checklist Please confirm by placing a cross that you have provided in full the following information to comply with

the information requirements.

Documents Please confirm with mark (x) that

documentation is included in the

package

Registration Certificate and Statutes

See 6. Eligibility Criteria

Declaration of honour certifying that you are not in one of

the situations referred to in articles 106(1) and 107 to 109

See

6. Eligibility Criteria

7.3 Evidence provided by supporting documents in context of

Exclusion criteria

Documents demonstrating that the selection and Award

criteria are met, e.g. businessplan, product information,

organisational chart )

See

8.2 Evidence for Selection Criteria

9.2 Evidence for Award Criteria, based on table in 9.1

A written statement that you are willing to add value to the

KIC

See 8.2 Evidence for Selection Criteria

Name contact for Venture

KIC

Name venture

Address

Email

Telephone

Name Place Date Signature

Call_for_nominations_EIT_Venture_Awards_2016EIT Awards 2016_form_Ventures