New Europe-wide open data incubator programme offers startups €100k equity free funding
UK open data entrepreneurs urged to apply##
The new EU-funded, Open Data Incubator for Europe (ODInE) is calling out to startups across the UK and Europe, to apply for a place on its new programme with the chance to secure up to €100k in grant funding.
The incubator programme, which is being announced at the World Wide Web Conference in Florence, has places for 50 startup businesses over the next two years. ODInE is being delivered by the Open Data Institute (ODI), University of Southampton and six other European partners, and has received €7.8m of EU funding from the EU’s Horizon 2020 funding programme. New startups will be recruited every two months on a rolling basis.
ODInE has been modelled on the ODI’s highly successful startup programme, which has so far supported 18 companies, nine of which have now graduated from the scheme. Together these companies have secured over £4m in funding and investment since joining and they employ over 70 people.
Applying for ODINE
ODInE is aimed at small- and medium-sized enterprises (SMEs) building a business around open data. Interested startups should register via http://opendataincubator.eu/. Applicants can submit a short proposal presenting their idea and the budget required. The applicant must be registered with the European Commission as an SME at the time of submission.
Successful applicants are eligible for:
- a grant of up to €100,000 per company
- expert advice from business mentors
- peer-networking and support
- technology and datasets
- coverage in The Guardian datablog
- brokering introductions to business angels and venture capitalists
Funds can be spent on salaries, equipment, consumables, travels, subcontracting to other parties (e.g. for marketing or legal support), and indirect expenditure (office space, office infrastructure etc. calculated as 25% of the total direct costs).
Each proposal will be assessed using the following criteria:
- Idea - the strength and novelty of the open data idea
- Impact - the value proposition and potential scale; market opportunity and timing and the social, environmental, economic benefits
- Team and budget - the knowledge and skills of the team, the capacity to realise the idea and appropriateness of the budget
The selection team will prioritise those who work on things that matter.
Gavin Starks, CEO at the Open Data Institute, said:
“ODInE offers startups access to the latest open data and business expertise, with funding that can make a real difference. In the existing ODI programme we found that startups valued being immersed in an open data ecosystem with others going through the same experience. We are excited that this new programme will be Europe-wide, given Europe’s thriving startup ecosystem and its leadership in areas such as smart cities.”
Eight partners, including the ODI, bid for the EU funding to develop ODInE: University of Southampton, The Open Data Institute, Telefonica, The Guardian, Open Future, Wayra, Fraunhofer, Open Knowledge Foundation (Germany).