EIT Urban Mobility and the European Startup Prize join forces to help sustainable mobility startups recover from the Covid-19 economic crisis

Following the economic impact of the COVID-19 pandemic, the European Startup Prize (EUSP) and EIT Urban Mobility, Europe’s most recent initiative to create mobility for more liveable urban spaces, have developed a joint initiative to support European sustainable mobility startups. The aim is to bridge the devastating consequences of the COVID-19 shut-downs on early stage investments by providing necessary funding to startups who develop sustainable mobility innovations.

Urban mobility startups applying for this year’s edition of EUSP must do so on the EUSP for mobility homepage by 30 April 2020. The best startups that meet the European Investment Bank’s Future Mobility criteria will then be given an opportunity to pitch their innovative projects to the EIT Urban Mobility investment committee. EIT Urban Mobility commits to invest in the most promising startups through its Finance2Move investment activity. The startups will also be given the opportunity to pitch to the other partners of EUSP.

The Coronavirus outbreak has dramatically changed the prospects of European startups in need of funding. The availability of venture capital for new investments is practically non-existent, and institutional and angel investors focus on life-support of their current investment portfolio. This initiative constitutes an excellent opportunity to help the best startups within our field both financially and through our acceleration and networking programs”,  said Fredrik Hånell, Director Business Creation at EIT Urban Mobility.

Within the Business Creation programme, EIT Urban Mobility leverages its pan-European city and investor network to support urban mobility startups, through pan-European accelerator programmes, the Scale-up Hub, Go-Global matchmaking, and the Finance2Move investment activity. Find more details here.