How to get financial and non-financial support in the amount of 50k euros: Deep Tech Scale-up and Acceleration program.

May 8, 2024 — A comprehensive Info Day dedicated to the overview of the “Deep Tech Scale-up and Acceleration” 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, UA Tech Tickets, Digital and Deep Tech Booster, Funding Lab, Market and Legal Lab, Finance Booster, Deep Tech Accelerator as well as Q&A-session.

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

• Yuliia Synchuk — Project Manager at the Ukrainian Startup Fund
• Kateryna Degtyar — Director of the Vacuum Deep Tech Acceleration program
• Maria Karpilowska — Project Manager at FundingBox.
• Carolina Ferreira da Silva — Plug and Play Tech Center Senior Partner Success Associate
• Peter Torstensen — CEO at Accelerace
• Laura Fargas —  European Project Manager and Coordinator at EIT Health
• Kostiantyn Ryzhkov  — Project / Program Manager at CyberInnov8
• Uliana Avtonomova  — Head of Funding Lab at Innov8
• Iuliia Takhtarova  — Project Manager at Innov8

Kateryna Degtyar opened the discussion with an overview of the “Deep Tech Scale-up and Acceleration” support programme, which offers grants up to €50,000 to support innovative tech SMEs with a Technology Readiness Level (TRL) of 7 or higher.

Kateryna explained that the financial support from the grants will be complemented by tailor-made non-financial assistance provided by the UASEEDs project partners. This comprehensive support aims to facilitate significant growth and market expansion for the participating SMEs.

Participants in the program must engage in one of two key tracks:

• Deep Tech and Scale-up Acceleration
• Digital & Deep Tech Booster

Kateryna Degtyar highlighted additional programs that participants could join, including Market Fast Track, Matchmaking, Market and Legal Lab, Access to the Investors/Accelerators community, Funding Lab, Finance Booster, FEL, and UA Tech Ticket.

The Deep Tech Scale-up and Acceleration Program is structured around three critical milestone reviews designed to ensure the successful progression and development of participating tech SMEs. Here’s an overview of each milestone:

• First Milestone Review: Individual Follow-up Plan (IFP)

The primary objective is to evaluate the initial planning and strategic direction as outlined in the IFP. This ensures that the scale-up’s goals are clearly defined and aligned with their capabilities and market opportunities.

• Second Milestone Review: Key Performance Indicators (KPIs)

Focus: This review assesses the KPIs established in the IFP, monitoring the progress towards achieving the defined targets. It serves as a critical check to ensure that the scale-up is on track and making quantifiable progress.

• Third Milestone Review: Advanced Development Check

Focus: This review evaluates substantial developmental milestones such as market readiness, feasibility of the technology, and the scale-up’s potential for growth. It is a crucial assessment point that measures more detailed outcomes and the viability of scaling operations.

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 Scale-up and Acceleration 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.

Laura Fargas presented the Finance Booster Programme, a flagship initiative by EIT Health designed to enhance the investment readiness of startups. 

Laura explained that the Finance Booster Programme is specifically aimed at startups that have already secured initial funding and are seeking additional support to prepare for subsequent funding rounds. The program is structured around a series of four-week training sessions, offered four times over a 24-month period.

Each session of the programme follows a consistent weekly structure, focusing on key aspects of fundraising and investment:

Week 1: Storytelling and Investor Attraction through webinars and workshops.

Week 2: Exit Strategy Planning and understanding Term Sheets.

Week 3: EIC Accelerator Training to help startups aiming for EIC support.

Week 4: Sector-specific modules covering areas like mobility, quantum computing, and manufacturing, tailored to the startups’ focus areas.

Laura also mentioned the experts and trainers involved in the programme, noting that many sessions will be led by EIT Health’s own team in collaboration with other consortium partners. This ensures that participants receive guidance from experienced professionals well-versed in each topic.

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.

After that, Yuliia Synchuk presented a UA Tech Ticket Offer. The UA Tech Ticket program offers Ukrainian startups valuable opportunities to participate in major tech events globally, both in-person and online. This initiative caters especially to Ukrainian entrepreneurs, providing male entrepreneurs the option to attend events virtually if they cannot leave the country, while female teammates may attend in person. Open to all innovative tech companies in Ukraine, including those involved with the UASEEDs Support Programmes, the program facilitates networking and exposure at key tech hubs across Europe.

Additionally, UASEEDs beneficiaries are offered free office space in coworking centers and offices throughout the EU. This support aims to foster collaboration and reduce costs, with office space allocations made on a first-come, first-served basis according to specific coworking space rules. This perk is exclusively available to beneficiaries of the UASEEDs support programmes.

Digital and Deep Tech Booster was presented by Iuliia Takhtarova. Iuliia Takhtarova expressed her excitement about the multitude of opportunities available through these programs. 

Iuliia Takhtarova stated that the program is designed to maximise startups’ potential by:

• Helping them enter international markets.
• Assisting in the development of their products, services, and overall business.
• Accelerating their growth to achieve global success.

The program is structured as a 12-week intensive online course that includes:

• Webinars
• Training sessions
• One-on-one mentoring sessions, emphasising the importance of learning directly from experienced mentors.

Throughout her presentation, Iuliia Takhtarova emphasised the importance of the Digital and Deep Tech Booster in supporting high-potential Ukrainian startups in reaching international markets and achieving significant growth.

Uliana Avtonomova introduced the Funding Lab as a structured program designed to assist startups in securing investments. She highlighted its comprehensive approach spanning several weeks, tailored to enhance startups’ fundraising capabilities. The curriculum covers essential topics like financial modelling, investor relations, and refining pitch decks. These elements are crucial for preparing startups to effectively engage with potential investors.

Uliana noted that various partners are involved throughout the program, enhancing the learning experience and providing diverse insights and support to the participants.

Kostiantyn Ryzhkov provided an overview of the Market and Legal Lab, emphasizing its role as a market entry advisor offering legal services to facilitate scale-ups’ entry into EU or global markets.

Kostiantyn Ryzhkov detailed the services provided by the Lab, which include company registrations, taxation, investment, employment services, contract reviews, compliance issues including GDPR, and intellectual property rights registration and protection.

The activities of the Market and Legal Lab will include conducting overviews and guidelines, one-to-one consulting sessions, organising webinars, and preparing market reports and document templates.

Starting in July, the Lab will develop and populate market and legal web resources with information on business registration, taxation, compliance guidelines, and regulations in various markets. Commencing from September, the Lab will host webinars focused on country-specific regulations, including safety, cybersecurity, data privacy, and AI.

Starting in October, Deep Tech Scale-Ups and Acceleration Program participants will be invited to partake in Market and Legal Lab activities via an online application process available on the lab’s web resources.

Kateryna Degtyar provided a comprehensive overview of the Deep Tech Exploration Program, emphasising its focus on fundamental skills necessary for startups to succeed in more extensive programs. Startups have the choice between the Deep Tech Accelerator and the Deep Tech Booster, both considered essential programs that prepare participants for subsequent opportunities.

The program involves continuous activities, with matchmaking being an ever-present element requiring participants to have a solid foundation. A critical component involves revising business models, which is seen as necessary homework for participants.

To watch the video recording of the Info Day #5, please follow the link: https://www.youtube.com/live/cVrdupETtrg?si=CzfB95JdegRMgqm4 

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 №6: Seeds of Bravery delegations
• Info Day №7: Step by step: successful application for the Seeds of Bravery project
• Info Day №8: Insights from Seeds of Bravery non-financial support

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.