Launched in 2021 by Maryia Gabriel, the European Commissioner for Innovation, Research, Culture, Education and Youth, the Women TechEU initiative is renewed in 2022 and will finance 130 companies founded or co-founded by a woman!
As an innovative scheme that appeared under Horizon Europe within the European Innovation Ecosystems (EIE), Women TechEU aims to support the development and growth of deep tech companies led by women, offering cutting-edge and disruptive innovations in all business sectors.
The main eligibility criteria are:
- Be a startup or SME founded or co-founded by a woman in a CEO, CTO or CSO position, for more than 6 months and less than 6 years (as of the closing date of the call)
- Be considered an “early stage” startup, having raised less than 1 million euros and not yet having an MVP (minimum viable product)
Funded companies are awarded a lump sum grant of €75,000 to carry out a project lasting 6 to 12 months. Additional support in the form of mentoring and coaching is also provided to the winners, as well as access to the Women Leadership Programme, under the patronage of the Business Acceleration Services (BAS).
Activities eligible for Women TechEU funding are, for example:
- Business model upgrade and validation
- Consolidation of the business plan and growth strategy
- Update of the financial plan
- Search for partners and investors
- Market analysis and research
- Intellectual property strategy and freedom to operate analysis (mandatory annex for an EIC Accelerator application)
In 2021, 391 companies applied for 50 winners (success rate of 13%), including 4 French companies.
In 2022, 130 startups will be supported by the program, i.e. almost twice as many!
The next deadline to apply is October 4, 2022, the call is open since June 21 on the European Commission’s Funding & Tender portal.
The application file is composed of the following elements:
- A 10-page document presenting the project and the company
- A 3-minute video in English highlighting the founder or co-founder, the startup and the project
- A 5-page executive summary of the business plan
- A financial annex including the history and the capital structure of the company
Euronovia can help you set up your Women TechEU application. Do not hesitate to contact us for more information (firstname.lastname@example.org)!