On the 1st of September, the European innovation network EIT ICT Labs launches the second round of its Idea Challenge. The EU wide contest for innovators and early stage startups in the field of ICT provides essential resources to boost a business: cash, office spaces, coaching and access to some of the world's leading universities, research institutes and companies, such as Siemens, SAP, IBM, Intel and Philips.
For the second time in this year, EIT ICT Labs calls ICT talents with entrepreneurial spirit to come up with "game changing" business visions. The ideas should relate to one of the following innovation areas: Smart Energy Systems, Cyber Security & Privacy, Internet of Things, and Urban Life & Mobility.
The first round of the Idea Challenge drew over 300 entries from 25 EU countries. Twelve European startups won an overall amount of 320,000 Euros, and are already working closely with the EIT ICT Labs Business Accelerator to further develop their ideas.
"Following the success of the first wave we are proud to empower even more talented teams in the next round," says Willem Jonker, CEO of EIT ICT Labs. "ICT talents are at the heart of EIT ICT Labs as they help us to drive ICT innovation for economic growth and quality of life. We have a strong eco system that knows how to put innovation to work and we are looking forward to receiving your ideas."
As successful entrepreneur and initiator of Founder.org, Michael Baum is dedicated to support talents on their paths to found sustainable businesses. That is also why he participated in spring 2014 as Idea Challenge jury member and evaluated the best ideas. He says: "It's important to back innovators with the brightest ideas at an early stage to improve the odds that more young companies not only survive, but thrive and positively transform the world."
Submission open
Ideas can be submitted until September 30th through http://www.ideachallenge.eitictlabs.eu. In each category, the participants can win a cash prize of 15,000 to 40,000 Euros. The best teams will be invited to Berlin, Trento, Stockholm, or London (depending on the topic) in order to pitch their ideas in front of an expert jury.
