Startups in the Growth phase can apply for Nitro: the Extreme Acceleration Event. The event tailored to the specific needs of startups will take place on 4th and 5th May 2017 in Lisbon. Here 20 selected startups will work for two intensive days with expert consultants, corporates and investors to gear up for the next episode in their development.
Furthermore, a special edition of Micro-Grants has been design to support the participation in Nitro: the Extreme Acceleration Event. People applying for Nitro can, additionally, request a micro-grant to cover their travel cost up to an amount of 500 Euro. The call for applications to the Nitro and the Micro-Grants will be open from the 23rd January to the 15th March 2017.
The specific objectives and conditions to apply for Nitro and for the Special Edition of Micro-Grants are described in the sections below.
1 Nitro and Micro-Grant Special Edition
Nitro: the Extreme Acceleration Event is intended to support start-ups in the growth phase to work intensively on the open points that are moving their business benefitting from the support of experienced consultants.
During the event, over 20 international mature startups will work together with consultants from Capgemini Consulting, Europe Unlimited, Inovamais, EBAN- the European Business Angels Network and Intrasoft on a wide range of topics receiving 1:1 coaching tailored to their specific needs. Some of the topics that will be covered comprehend:
- Investment Readiness- Pitching Training
- Negotiating Technology agreement
- How to write a successful proposal? Growth & Internationalisation through European Funding
- Project Management
- Crowdfunding for SMEs & Startups
The key is that the startups themselves choose which topics they want to work on before, during and after the event. Furthermore, on the 2nd day startups will have the opportunity to pitch in front of an audience of business angels and investors and to arrange one-to-one meeting with them.
Additionally, a Special Edition of Micro-Grants has been open to support the participation to Nitro: the Extreme Acceleration Event. ePlus provides Micro-Grants of up to 500€ each, covering participation costs such as travel, accommodation and subsistence.
Within the same application from, start-ups applying for Nitro: the Extreme Acceleration Event, can additionally request a micro-grants to cover part of their travel costs.
1.1 Eligibility and admissibility conditions
To be eligible for NITRO, startup should have the following characteristics:
- Being a mature startup that already has (small) customer base in the home market and is on the brink of international expansion
- Being classified as a web-entrepreneur
- Being based in Europe
Furthermore, within the same application, startups applying for Nitro can additionally require a Micro-Grants of up to 500 Euro to cover their travel costs for the event. The Terms and conditions of Micro-Grants are available here. The following general rules apply:
- A European startup may apply for a Micro-Grant to attend Nitro: the Extreme Acceleration Event up to a grand total of €500 per startup.
- Micro-Grants cannot be attributed retroactively.
- A selected candidate who ultimately will not use the awarded Micro-Grant has 5 working days, counting from the results announcement date, to inform the consortium. Failure to do so will result in exclusion from following calls/rounds for Micro-Grant attribution.
- The reimbursement form for the Micro-Grants need to be sent within 5 working days after the end of Nitro. Failure to do so could results in exclusion from the reimbursement.
1.2 Application Procedure
Interested startups must complete and submit an online Application Form on f6s (under https://www.f6s.com/eplusnitro3/apply). Within the same application is it possible to apply for Nitro: the Extreme Acceleration Event and Micro-Grant Special Edition. All applications have to be completed in English.
1.3 Criteria for Evaluation
The evaluation and approval of applications received will be made upon total discretion of the ePlus Consortium and will take into consideration:
- the relevance of the activity towards the applicant’s background;
- the added-value of the activity for his/her startup growth or development;
n particular, the following selection criteria will be used by the evaluators (a maximum of 4 points will be assigned).
|RELEVANCE OF THE EVENT FOR THE START-UP DEVELOPMENT AND GROWTH||MATURITY STAGE OF THE START-UP APPLYING**||EXTRA POINT EVALUATOR (EXCELLENCE: THE STARTUP IS SOLVING AN INTERESTING PROBLEM; OR IS A TECHNOLOGICAL BREAKTHROUGH)|
Results will be communicated within ten working days from the date of closure of the Call for Applications on the ePlus website (http://www.epluseurope.eu/). Selected participants will be notified via email.
** Conception: Entrepreneurs (wantpreneurs) with a business idea, but still pivoting on the business model.
Incubation: Entrepreneurs with a resilient business model and plan.
Acceleration: Startups that have secured a first financing round and/or first paying clients.
2 Payment Procedure
In order to receive the payment of the Micro-Grant, the Micro-Grant winner must submit by e-mail a Reimbursement Form to the ePlus coordinator, describing the activity implemented and attaching the required documents for cost justification within 5 working days after the end of Nitro. Whenever applicable, also original documents are to be sent by post/courier.
Payments of Micro-Grants will be made by ePlus within 45 days from the date of reception of all documents required and only through a bank transfer to an account held by the applicant in their name. Proof of payment will be sent by e-mail to the applicant as soon as it is made.
No Micro-Grant payment will be processed, unless the required documents are provided (both online and by post – when applicable), as described next.
Required supporting documents:
- Travel tickets (or declaration with route if travelling by car) – Only economy class tickets are reimbursable;
- Hotel invoices – Only the room rates incl. Breakfast and city tax are eligible; all other costs i.e. Mini Bar are not reimbursable; Maximum daily allowance 92€ . Maximum accommodation allowance 100€ / night.