Urban mobility is undergoing one of the most transformational shifts of a generation. A successful strategy in the industry requires the adoption of a comprehensive and coherent approach, centered on innovative ventures that are disrupting this landscape.
While the pandemic has taken a heavy toll on the economy, the crisis has also encountered major opportunities for innovation. Examples of drivers underpinning this ongoing transformation are startups and scale-ups with high financial, environmental and social impact and growth potential.
In pursuit of leading positive change and business prosperity, EIT Urban Mobility is investing up to €100,000 per company in high-impact startups and scale-ups to accelerate their journey, to continue critical innovation and to ultimately transform the European urban mobility landscape.
An EIT Urban Mobility investment will not only provide you with capital but also position you in the venturing ecosystem and include you in our European partner network of Corporates, Investors and Cities.
Who qualifies for startup investment?
Startups and scale-ups currently fundraising or preferably already in an ongoing funding round with the following characteristics:
- Incorporated not more than 10 years ago
- Less than 100 employees on their payroll in Q2, 2021
- Innovative product/ service contributing to at least one of the EIT Urban Mobility Focus Areas:
- Urban Air Mobility
- Waterway Transportation & Water Logistics
- Connected Vehicles
- Mobility & Energy
- Autonomous Vehicles and Systems
- Mapping and Navigation
- Sensors and Training Data
- Mobility Services
- Vehicle Marketplaces and Aftermarket
- Smart Cities & Smart Parking
- Last-mile Delivery & Green Logistics
For more information, please contact Pablo Garrido
- You can demonstrate that your company has successfully developed and commercialised products or services that represent a significant innovation in markets where value and monetisation can be maximised
- You have the management and technical expertise, with the necessary resources to show that the company is economically viable
- Your company’s operations, products/services contribute positively to at least one of the EIT Urban Mobility’s Core Sustainable Development Goals (SDGs); SDG3, SDG7, SDG8, SDG9, SDG11 and SDG13
|Call opens ||2 June, 2021||Register here: application form|
|Cut-off dates||1st cut-off date: 15 March 2021 2nd cut-off date: 18 June 2021 |
3rd cut-off date: Q3 2021 (TBA)
4th cut-off date: Q4 2021 (TBA)
|12:00 PM CEST|
|Evaluation period (Stage 1)||15 to 22 June 2021||Timeframe dependent on number of eligible applications |
|Final Evaluation period with Virtual Pitch, Q&A and Due Diligence. (Stage 2)||28 June to 2 July 2021||Timeframe dependent on number of eligible applications |
|Final Selection and Outcome Notifications (Stage 3, 4 & 5)||5 to 16 July 2021||Outcome notifications for different selected applications will be made as they happen |
|Drawing-up Investment Documentation ||2 fornight of July 2021|
|Investment Formalization and Transfer of Funds ||August/ September 2021|
What we offer
Our startup investment instrument consists of up to €100,000 in exchange for equity. If selected for investment, your company will also benefit from access to regional ecosystems, infrastructure and coaching to drive growth and internationalisation.
These are the requirements that companies need to fulfil to be eligible;
- The amount of equity for EIT Urban Mobility needs to be substantiated (e.g. last round evaluation, revenues, term sheet, etc.) when submitting the application form
- EIT Urban Mobility will be a minority shareholder, EIT Urban Mobility will be a passive shareholder and EIT Urban Mobility shares would be diluted in case of capital increases
- Supported companies are required to contribute to the EIT Urban Mobility Financial Sustainability Mechanism (FSM)
- In consideration for the investment, companies will provide equity to EIT Urban Mobility. A term sheet and a shareholders agreement shall be notarised to formalise the investment
- Resilience and capacity to leverage your company’s resources as a response to the changing environment and challenges and opportunities, ensuring traction and growth
- Positive contribution to at least one of the focus areas of (Active Mobility, Sustainable City Logistics, Creating Public Realm, Future Mobility and Mobility & Energy) and to Core Sustainable Development Goals (SDGs); SDG3, SDG7, SDG8, SDG9, SDG11 and SDG13
- You have secured/ committed investment from other accredited investors (BA, VC, CVC, etc.) in your current capital raise where EIT UM would participate
- You can act fast and diligently to formalize the current funding round and the investment process
The equality between men and women is a core value for EIT Urban Mobility. We support the adoption of the EIT’s Gender Mainstreaming Policy and its impact in the Knowledge Triangle.
In consequence, the portfolio of investments in companies with at least one woman co-founder or one woman FTE will be taken into consideration before than investments in exclusively male teams.
Applicants will be excluded if they:
- Are subject to an administrative sanction (i.e. exclusion)
- Are in one of the following situations: a. Bankrupt, being wound up, having their affairs administered by the courts, entered into an arrangement with creditors, suspended business activities or subject to any other similar proceedings or procedures under national law (including persons with unlimited liability for the participant’s debts) b. Declared in breach of social security or tax obligations by a final judgment or decision (including persons with unlimited liability for the participant’s debts)
- Are found guilty of grave professional misconduct by a final judgment or decision (including persons having powers of representation, decision-making or control)
- Are convicted of fraud, corruption, involvement in a criminal organisation, money laundering, terrorism-related crimes (including terrorism financing), child labour or human trafficking (including persons having powers of representation, decision-making or control)
- Shown significant deficiencies in complying with main obligations under a procurement contract, grant agreement or grant decision financed by the EU or Euratom budget (including persons having powers of representation, decision-making or control)
- Have misrepresented information required for participating in the EIT Urban Mobility funding scheme or fail to submit such information
- Were involved in the preparation of any documentation regarding this call or are involved in the evaluation process of this call and this entails a distortion of competition
Selection process and key dates
- Please use this application form to express interest in this funding instrument and provide all requested details about your company at the latest by 18 June 2021, 12:00 PM CET
- All applications will be evaluated by EIT Urban Mobility staff with the support of independent external experts and venture capital investors
- Within the month of July 2021, EIT Urban Mobility will let you know if we can honor your request and to communicate the next steps
- All information you share with us will be treated confidentially and in accordance with the General Data Protection Regulation, GDPR (Regulation EU 2016/679)