All over Europe, entrepreneurs are working on innovative solutions to cope with urban mobility challenges. However, circumstances differ across the continent resulting in unequal number and quality of funding opportunities for locally emerging businesses.
Through the Regional Innovation Scheme (RIS), EIT tackles such disparities by spreading its activities more evenly. More precisely, the RIS region defines a group of countries with a low performing innovation capacity. Despite the talent and entrepreneurial mindset available in such countries, change and innovation in the RIS region tend to slow down due to the conservative and risk avoiding policy making, as well as the drawbacks of engaging in an entrepreneurial career and the limited mechanisms to support start-ups.
By setting up a dedicated budget to invest in start-ups incorporated in RIS countries, EIT Urban Mobility is now contributing to the faster development of their innovation ecosystems and, more importantly, to the fundraising process of their local start-ups. As an impact investor, EIT Urban Mobility fosters positive social and environmental change across Europe, which among other things translates into paying special attention to those vulnerable innovation ecosystems.
To date, EIT Urban Mobility has invested in more than 20 start-ups from the RIS region like Mosaic from Czech Republic, Meight from Portugal, and Deeptraffic from Greece, and keeps looking for the most prominent entrepreneurs to disrupt the European mobility industry in those countries. If your company is incorporated in a RIS country seeking for capital, we highly encourage you to apply to our open investments call!