Features of the program «Deep Tech Incubators»: results of 3 info days.

April 17, 2024 — A comprehensive Info Day dedicated to the overview of the “Deep Tech Incubators” support programme was held online within the Seeds of Bravery (UASEEDs) project. The agenda also covered available non-financial support, including matchmaking-activities, access to investors/accelerators community, market discovery workshops, as well as Q&A-session.

The event brought together a diverse group of speakers, including: 

• Maria Karpiłowska, Project Manager at FundingBox Accelerator
• Yana Paladiieva, Head of Projects and Programs at the Ukrainian Startup Fund
• Peter Torstensen, CEO at Accelerance
• Andrii Zaikin — Founder and CEO at YEP Startup Accelerator
• Fionnuala Wall, Marketing Manager & EU Projects Coordinator at AxisBIC (formerly CorkBIC)
• Carolina Ferreira da Silva — Plug and Play Tech Center Senior Partner Success Associate

Andrii Zaikin opened the discussion with an overview of the “Deep Tech Incubators” support programme, which offers grants up to €25,000. The programme is specifically designed for those categories of applicants:

• Startups that can become some kind of key drivers in rebuilding the Ukrainian economy and infrastructure;
• Startups with TRL four and six levels of technology readiness;
• Early-stage startups engaged in pre-MVP activities looking to relocate or continue in Ukraine or in one of the Member States of the European Union and its OCT or Horizon Europe Associated Countries after the beginning of full-scale invasion in Ukraine.

Deep Tech Incubation Program is led by YEP Accelerator and co-designed with Vacuum Deep Tech Acceleration, Aalto University, Sunrise Valley Science and Technology Park, Plug and Play, Da Vinci Labs, Accelerance.

Tailored program lasts 12 weeks, which includes the following components:

• weeks 1 – 4: Development of an individual Follow-up Plan (IFP) with the program leader. 

This plan will include all the metrics KPIS and achievement that are supposed to be obtained during the support program.

• weeks 5-12: Implementation of the IFP through group sessions and individual mentoring meetings.

The program is structured into four distinct batches, each spanning several months to ensure comprehensive coverage and ample time for development and progress. The timeline is as follows:

• The 1st batch will commence in July 2024 and conclude in October 2024.
• The 2nd batch is scheduled from October 2024 through January 2025.
• The 3rd batch will take place from January 2025 to April 2025.
• The 4th batch will run from May 2025 until July 2025.

The mentors and partners will collaborate with the 60 deep tech startups to implement this individual follow-up plan. The main goal is to achieve the best possible results by meeting the metrics specified in the plan. The  progress closely will be monitored, as outlined in the follow-up agreement.

Maria Karpiłowska elaborated on the types of activities eligible for funding, emphasising projects with the potential to support the rebuilding of the Ukrainian economy and infrastructure post-war, as well as European dimension. 

The Deep Tech Incubators program grant amount is determined based on the budget approved in the full proposal submitted by the applicants.

The funding covers various cost categories essential for project execution. These include personnel costs, which account for the expenses of team members who participate in upscale training and coaching sessions. Travel costs are also covered, encompassing all business travel expenses directly related to the implementation of the project. Other direct costs refer to expenses incurred for the purchase of goods, works, equipment, and services that are necessary and directly linked to the achievement of the project’s objectives.

Additionally, overhead costs are calculated at 25% of the aforementioned expenses, contributing to the indirect costs associated with the project.

The sub-grant agreement (SGA) with UASEEDs, acting on behalf of the Consortium, will be signed once your formal status is confirmed. This marks the beginning of the grant implementation process.

Following the SGA signature, the first milestone involves the validation of an Individual Follow-Up Plan (IFP). This plan, specific to each company, outlines the scope and expected outputs necessary for progressing through the program. The initial milestone (Milestone 1) must be met after the SGA is signed and following the IFP validation.

Milestone 2 is the completion of a Feasibility Study, which should be achieved by the third month but no later than the sixth month following the SGA signature. This study assesses the viability and potential impact of the proposed activities outlined in the IFP.

Evaluation of each milestone will be based on the quality of deliverables, which carries a weight of 30%, performance indicators with a weight of 60%, and deadline compliance weighted at 10%. A minimum score of 7 points is required to pass the milestone evaluation and proceed to payment.

Payment will be issued following the acceptance of the milestone results, ensuring that each company adheres to their IFP and meets the program’s stringent criteria. Companies must submit their results and can expect a decision within a minimum of two weeks from submission.

After this, Carolina Ferreira da Silva presented a Matchmaking part of non-financial support designed to connect startups with a network of stakeholders essential for growth.

Matchmaking activities will be implemented through 2 approaches. The first one is Tailored Matchmaking Journeys, which includes:

• Structured onboarding with Seeds of Bravery Lead Partner (IFP) and Matchmaking Officer
• Matchmaking interactions with stakeholders
• Onboarding into Playbook by Plug and Play 
• Connections to other Seeds of Bravery activities & events 
• Follow up and review of matchmaking activities with Matchmaking Officer

This approach facilitates strategic alliances to provide startups with opportunities that align with their specific needs and ambitions.

The second approach will be implemented through a Monthly Digest, covering general ecosystem events, partner events and other global activities available to all Seeds of Bravery participants. 

Up next, Peter Torstensen shared insights of how the Access to Investors and Accelerators community will be implemented through the Accelerace platform. Due to lack of transparency in the investment market, startups struggle to raise funds, that is why the Accelerace platform was developed. It provides tools like Investment Readiness Test and interactions with curators to help startups connect with relevant investors and accelerators, as well as provides a collection of pitch decks from successful startups to aid in raising seed funding and building a learning path for startups. Moreover, the platform allows visitors to communicate with alumni (successful founders) who share their insights and experiences.

Next part of the Info Day was dedicated Market Discovery Workshops and Market Fast-Track Programmes, introduced by Fionnuala Wall. These activities are the pivotal components aimed at equipping startups with comprehensive market intelligence and access strategies for various EU countries. 

Market Discovery Workshops will start in May and will be delivered over 3.5 hours via a virtual webinar. Registration links will be uploaded shortly on the Seeds of Bravery website with everyone welcome to attend the online events. 

The Market Fast-Track Programme is a 2-week online programme to facilitate access to EU markets, working with key players and mentors, building a go-to-market strategy. This type of non-financial support will begin in September 2024 with 20 programmes within the project.  Each programme will be divided into workshops and one-to-one sessions covering areas like: 

• value proposition development and market validation;
• market intelligence; 
• go-to market strategy;
• finance and investment.

To watch the video recording of the Info Day #3, please follow the link: https://www.youtube.com/watch?v=3CDuaNRVcuc&list=PLA-T_HUPDJR03ZqqqfcLZ6x-EyRoNjUmi&index=3

The initiative will continue to engage and inform participants through a series of subsequent Info Days, focusing on different facets of the Seeds of Bravery project:

• Info Day №4: Rebuild Ukraine
• Info Day №5: Deep Tech Scale-up and Acceleration

Do not miss the upcoming events!

Funded by the European Union, under the European Innovation Council (EIC). Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or European Commission. Neither the European Union nor the European Commission can be held responsible for them. The UASEEDs project has received funding from the Horizon Europe Framework Programme under grant agreement No 101104445.