EIT Urban Mobility is the  largest non-French investor in mobility start-ups in France, according to  new study

EIT Urban Mobility, an initiative of the European Institute of Innovation and Technology (EIT), a body of the European Union, has been recognised as the largest non-French investor in mobility start-ups in France. It is the second most active investor in the mobility transition in the country, after Bpifrance. EIT Urban Mobility currently provides financial support to fifteen mobility start-ups across the country. The same report indicated a +12% increase in fundraising between 2022 and 2023, for a record amount of €1.9 billion, making France the second-largest transport innovation ecosystem in Europe, after the UK.

One of the main difficulties for mobility startups in Europe, is to explore the possibility of real-life testing their solutions. Taking this into account, EIT Urban Mobility launched last week the RAPTOR (Rapid Applications for Transport) competition to respond to complex urban mobility issues identified by participating cities in 10 European countries. The platform offers open competition for startups and SMEs to propose solutions that address these challenges. Winners will receive €40,000 in funding and personalised support to pilot their solutions over a five-month period within the city. French entities are strongly encouraged to participate, in particular to promote solutions focusing on improving pedestrian and cyclist safety, promoting active mobility among the elderly and controlling CO2 emissions.

As a result, the Bout project was developed thanks to EIT Urban Mobility’s RAPTOR programme on the Seine in Paris, France. The project, a pioneer in urban mobility solutions on the river, uses its app and digital marketplace website to connect users with local boats for exploration and transport. While the Seine will be central to the Paris Olympic Games in summer 2024, Bout’s innovative approach is helping to develop sustainable waterborne transport and put the Seine back at the heart of French people’s lives.

“Beyond our current actions, EIT Urban Mobility is committed to continuing its involvement in France and to developing more collaborations and partnerships with startups and cities throughout France. We want to establish a lasting presence in the French urban mobility landscape to promote ever more innovative solutions tailored to the needs of the cities of tomorrow”, concluded María Paula Caycedo.

EIT Urban Mobility mostly intervenes at the early stages of the development of the startups, for an amount up to €500.000. Beyond financial support, EIT Urban Mobility also helps foster innovative projects by integrating them into the pan-European city ecosystems, providing mentoring and support for project development, and access to exclusive funding opportunities.