EIT Jumpstarter Celebrates the Launch of Innovative Start-ups Addressing Critical Societal Challenges

EIT Jumpstarter: Pioneering Innovation in Society



The EIT Jumpstarter program, an initiative by the European Institute of Innovation and Technology (EIT), culminated in a grand final on November 28, 2024, held in Budapest, Hungary. This year’s event showcased 24 innovative start-ups that tackled some of society's most urgent challenges, benefiting from a competitive landscape of 49 teams representing 21 countries.

Over the past few months, the participants have undergone rigorous training, transforming their scientific concepts into viable business models ready for market launch. The program has been instrumental in fostering innovation, with a total of 1,180 participants trained to date, leading to the establishment of 124 new start-ups and 2,100 new jobs in emerging markets.

During the grand final, a total of 150,000 euros in prizes were distributed among the winners, with three teams selected from each of the nine categories. The competition was fierce, and notable winners included NEAMO from Latvia (EIT Food), BIOCHIP-PATHFINDER from Portugal (EIT Health), and StoreNow from Portugal (EIT InnoEnergy), among others. This initiative not only aims to highlight successful innovations but also addresses pressing societal issues through entrepreneurial spirit and creative solutions.

Piotr Boulange, a representative of the EIT Jumpstarter program, emphasized the significant impact of these start-ups, particularly those emerging from non-Western countries. Many previous participants have achieved multi-million euro valuations, underscoring the program's role in bridging the funding gap in the European innovation ecosystem. Notably, for every euro invested in the program, approximately 30 euros are raised in external funding by the newly established start-ups.

The award ceremony was complemented by the EIT Community conference, titled “The Next Decade of Innovation for the Future of Europe,” which celebrates a decade of the EIT's Regional Innovation Plan. The focus on continuous support is evident, with the 2025 plans promising to assist talents from Ukraine, the Western Balkans, the Mediterranean, and other EU peripheral regions.

In the 2025 edition of EIT Jumpstarter, pre-registration will commence in January, providing aspiring entrepreneurs the opportunity to join this prestigious program. The successful participants of 2024 have not only proved their mettle in a competitive arena but have also laid the groundwork for future innovators to follow.

Overall, the EIT Jumpstarter serves as a vital platform in fostering the next generation of entrepreneurs, as it creates jobs, develops new skills, and encourages an innovative mindset throughout Europe.

Conclusion


The EIT Jumpstarter program serves as a testament to the transformative power of innovation and entrepreneurship. Through its initiatives, it continues to pave the way for tackling critical issues facing society today, making strides in economic development and sustainability across the region.

Topics Consumer Technology)

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