Funding Stages

Funding Stages

An overview of URBAN TECH Programme

URBAN TECH programme focuses on three main idustries:  Health Tech, Smart Cities and Greentech as those are the three emerging industries who seek to create a better, safer and more sustainable life for any citizens in the world.

The Programme includes three funding stages:

  1. 1st funding stage – MVP phase – Minimum Viable Product Voucher (MVPV)
  2. 2nd funding stage – Piloting Programme to create a pilot
  3. 3rd funding stage – Market discovery programme to establish two partnerships

URBAN TECH Programme

Urban Tech Programme

Through the Open Call, a set of 320 start-ups and SMEs are selected to participate in Hackathons, a 1/ 1,5-day event that will include training, 1-to-1 meetings with Challenge Owners (private, public organisations or municipalities in need of a product or service, in the form of a Challenge), preparation of the demo solution and pitching.

After the Hacktathon phase, 80 SMEs are selected to enter URBAN TECH Programme.

1st funding stage – MVP phase – Minimum Viable Product Voucher (MVPV)

The MVP Voucher is provided as a lump sum of max 9500 EUR based on the full proposal submitted after the Hackathons.

The financial support will be given in 2 tranches: 80% advance payment upon signing the subgrant agreement and 20% payment upon submission and approval of MVPV report. Underperforming SMEs/start-ups might not receive the final MVPV payment if they fail to demonstrate a reasonable progress and part of MVPV will not be utilized.
SMEs and start-ups awarded with the MVP Voucher will be supported by one of the partner technology and science parks in the form of training and mentoring (have a look at our mentors here).

The location of each winner will be selected with the Consortium partners based on the origin of the challenge and possible test partners. In case of multiple location, collaboration between technology and science parks will be arranged.
With all solution providers awarded the MVPV (you can see our solution providers here), individual assessment of their needs will be done by the technology, science park or incubator, that will host the project and a specific support plan will be agreed with every solution provider based on business and product development maturity level.
The specific portfolio of additional services will be designed based on the needs of each solution provider.

Each project will be hosted by a science and technology park (STP) or incubation center from the list below:

2nd funding stage – Piloting Programme to create a pilot

In sum 30 SMEs/start-ups out of 80 beneficiaries of the MVP Voucher are rewarded with the Piloting Voucher (PV) and demonstration facilities of their own or in collaboration with partners.

As a result of the MVP phase and 1st stage funding, a start-up or SME to be able to qualify for the 2nd stage funding has already a valid business model, working MVP of the new product/service, MVP accommodated to the needs of the first client and a well operating team.
In parallel with submitting the MVP report, SMEs/start-ups will submit a Pilot application form to receive 2nd stage funding, the PILOTING VOUCHER (PV).

In order to select the 30 SMES/start-ups who will receive 2nd stage funding to carry out pilots, Pilot Evaluations will be done in three thematical areas in July 2023.
The Validation Panel will approve the 30 SMEs/start-ups that will receive a financial support of 20-30.000 EUR. The exact amount will be determined individually based on the project’s budget and impact etc., aligning it with the scores provided by the Pilot project evaluation grid.

When calculating the exact amount of the financial support offered for each SME/start-up, the Validation Panel will take into consideration individually the following costs in order to execute piloting:

  1. Costs of the pilot project – pre-approved pilot project has related costs in terms of hardware, software, installation, implementation;
  2. Development costs, including labor costs and sub-contracting costs;
  3. Mentoring and advisory costs; services provided by the incubator or STP;
  4. Travelling and accommodation – if needed, the team and challenge owner have the onsite installations that require travelling.

A key mentor will be assigned to SMEs and start-ups which will receive 15 hours of individual sessions and participate in 6 full days Joint Training Sessions.

The mentor will have a session with the companies at least once a week and will advise about the piloting project plan writing.

Here’s a preliminary list of training topics:

  • Business development
  • Team building
  • Negotiation
  • Pitching
  • Marketing/ sales
  • Relationship building
  • Business model
  • Fundraising

3rd funding stage – Market discovery programme to establish two partnerships

Intentions to go global can open up a number of questions, and start-ups or SMEs wanting to expand globally have different needs depending on the stage of internationalisation they are.
URBAN TECH takes this into account by distributing Market Discovery Voucher (MDV) based on well elaborated applications for specifically tailored services to establish themselves in a specific market or business sector.

SMEs and start-ups selected for getting the Market Discovery Voucher will receive max up to 14.000 EUR for going-to-market activities, finding new partnerships and investors.
Market Discovery Voucher can either be used for travel activities or for consulting services, which allow the beneficiaries to tackle and solve the particular challenges to offer tailored support to specific needs.
Each SME/start-up can apply for a voucher that is restricted to the cumulative amount of 14.000 EUR. At least 20 SMEs will be supported.

You can get more detailed information by downloading our Guide for Applicants

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