A total of 16 start-ups from all over Europe, 3 of which Basque, compete on 18 and 19 February at the University of Deusto for the final incubation phase of the EDI project. EDI is a Horizon 2020 project, coordinated by DeustoTech, that represents one of the most important European virtual incubators in the field of Big Data. Its objective is to encourage the creation and development of new Big Data companies with the view of making Europe a reference in the field.
The use of massive data (Big Data) is a strategic asset with enormous potential to transform companies and industries. EDI arises to meet the growing need to have entrepreneurs capable of solving the challenges of large data providers in Europe and to help to draw value from them. It works as a companies’ incubator and aims to make available company data to start-ups, which would not have access otherwise.
The project offers participants up to € 100,000 equity free funding to carry out their ideas, as well as training, coaching and networking possibilities with some of the most important European data provider organisations.
EDI has a total duration of 3 years and counts with the financial support of the European Union - Framework for Research and Innovation (Horizon 2020) in the value of € 7 million; of which 5 million goes to financially support future companies.
On 18-19 February event, the selected 16 start-ups that have been receiving personalised advice and experimenting with data from collaborating entities in the last months, will be playing for the final phase of the incubation programme. A technical jury will evaluate the project ideas presented by the start-ups. On the final day of the event, these start-ups will participate in a "pitch" in which they will present their initiatives and a jury will evaluate its solidity from the business point of view. The 6 winners will be announced on 19 February.
EDI consortium members that have been providing data to the start-ups (e.g. RACC or Volkswagen Navarra) will also participate in the meeting.
The incubation process of the 6 start-ups that pass to the next phase will end in May 2019. In March, the EDI project will open its second call to attract new companies for the incubation programme, taking place from October 2019 to May 2020.
For more information about EDI, please consult the project website.