EIT Digital's model for innovation
Innovation Factory
The focus of EIT Digital’s Innovation Factory is to drive the market uptake of top European research results ('deep tech'). The objective is both to 'create digital disruption' (through venture creation) and 'support digital transformation' (through the launch of a Minimum Viable Product – or MVP).
Pre-incubation is embodied in an innovation activity that is entrepreneurial and agile. The activity can create a start-up that is the vehicle driving digital disruption in the market. It can also create an MVP brought to market by an established industry player, thus driving the digital transformation of their industry.
Innovation activities gather a few EIT Digital Partners to bring a promising, mature research result out of the lab and quickly into the market. The engagement of EIT Digital’s industry partners, as well as research and technology organisations (RTOs), is a key element of pre-incubation.
Innovation Activities may be grassroots, that is, awarded through an open call process. EIT Digital has run such a call annually for a number of years.
They may also be designed, focusing on a well-identified strategic topic with a three-year plan of venture creation, venture support and stage-gated evaluation.
In addition, EIT Digital provides stronger support to young entrepreneurs in its pre-incubation programme. This includes broader participation of EIT Digital Schools’ students and graduates in innovation activities.
Last but not least, the pre-incubation programme needs to be sustainable. In addition to EIT financial support, other income will need to be systematically generated through innovation activities and re-investment.
EIT Digital strategically concentrates its 'deep tech' investments in selected focus areas with significant European relevance and leadership potential.
EIT Digital Focus Areas
Inventing the digital future with core technologies, providing secure, robust, responsive and intelligent communications and computation.
The digital transformation of the industry, from production to logistics to retail.
Serving cities with digital technologies addressing urban mobility, citizen inclusiveness and engagement, and city safety.
Safeguarding health for youth, working professionals and the elderly, by analysing sensor data.
The disruption of digital transactions and institutions with technologies that allow transparency, efficiency, security and trust.