InnoStars Awards
The InnoStars Awards accelerates early-stage start-ups, MVPs, and prototype-stage companies from Central, Eastern, and Southern Europe.
The programme transforms prototypes and MVPs into market-ready health solutions. Over seven years, it has trained 100+ start-ups, with over half achieving market success.
The InnoStars Awards is also a unique place for investors looking for gems in biotech, MedTech and life sciences, and a must-attend pit stop in the healthcare start-up journey.
This year we’re excited to introduce our start-ups with two tracks: our well known validation track and a new Investment Track for Seed and Series A funding.
Applications to InnoStars Awards are currently closed. Be the first to know about upcoming programmes and opportunities that may be a good fit for you by joining our mailing list.
What you get
FUNDING
Receive €15,000 in smart money to further develop your product or solution
PITCH EVENT
Get the opportunity to pitch in front of top-notch investors, gain visibility at the Grand Final, and win up to €25,000
TRAINING
Receive training in Early Health Technology Assessment and learn to determine the value of your innovation
BOARD SIMULATION
Prepare for post-investment phase through regular meetings with a dedicated senior investor – investment track only
1:1 MENTORING
Get tailored guidance to shorter time-to-market for products and services
BOOTCAMPS
Attend bootcamps throughout Europe and engage in knowledge sharing sessions with other entrepreneurs
Our two tracks:
-
1
Validation Track: for start-ups with an MVP and no revenue
- Start-ups participate in two intensive 3-5 day onsite bootcamps. During these sessions, they gain insights into market entry strategies, accelerate product/service launch timelines, validate user/customer/partner needs, enhance private investment prospects, define net present value, and acquire crucial skills in business planning, public speaking, and effective communication.
-
2
Investment Track: for start-ups with revenue and looking for seed or Series A investment
- Start-ups participate in a focused 3-5 day bootcamp, gaining hands-on experience in crafting investment strategies, refining business plans, defining unique selling propositions, perfecting pitch presentations, managing investor relations, and optimizing investment terms.
- They also engage in a board meeting simulation alongside seasoned investors, providing a unique opportunity to collaborate with real-life investors. Through tough questioning and milestone setting, startups prepare extensively for investor interactions.
How it works
STAGE 1 – INNOSTARS AWARDS
Start-ups that fit the overall EIT Health InnoStars Awards objectives will be selected through external experts. Start-ups will be sorted into two categories based on their maturity: the Validation Track and the Investment Track.
Validation Track: for start-ups with MVP and no income.
Investment Track: for start-ups with revenue and looking for seed or Series A investment.
STAGE 2 – MENTORING AND TRAINING
Entrepreneurs can opt for one of two specialized tracks: the Validation Track or the Investment Track. In the Validation Track, startups participate in two 3-5 day bootcamps aimed at accelerating market readiness. They focus on verifying product or service value, attracting private investment, determining net present value, and honing business plans and communication skills. Alternatively, the Investment Track offers a singular 3-5 day bootcamp centered on crafting investment strategies, perfecting business plans, defining unique selling propositions, refining pitches, managing investor relations, and optimizing term sheets and investment conditions.
STAGE 3 – INNOSTARS AWARDS PITCH EVENT
For Investment Track start-ups only – board meeting simulation with dedicated senior investors, the start-ups are paired with real-life investors. It is a unique opportunity where start-ups get a taste of working with investors. The venture capital representatives ask the tough questions and set and monitor the milestones with start-ups to help them prepare for working with an investor.
STAGE 4 – INNOSTARS AWARDS GRAND FINAL
The InnoStars Grand Final is a prestigious event where participants pitch their start-ups to an international jury of healthcare professionals, EIT Health partners, market experts, and VCs. They connect with potential partners and gain media visibility. Start-ups receive feedback from jury members in Venture Capital, pharma, and Business Development. The top three Validation and Investment Track companies will receive awards 1st: €25,000; 2nd: €15,000; 3rd: €10,000.
Key details
Upcoming Dates:
9 August
Submission deadline for applications – Deadline from 5 August extended
Beginning of September
Announcement of the InnoStars Awards 2023 cohort
October and November
Bootcamps
November
InnoStars Awards Grand Final
Who should apply
InnoStars Accelerator programme is suitable for companies with the following attributes:
- Form of the company: micro and small enterprises (according to EU SME definition), spin-offs and start-ups
- Maturity of the company:
- Validation track: startups that have a prototype or MVP and currently have no income
- Investment track: startups with a final product generate revenue and are interested in running a fundraising round to gain seed/series A investment
- The company must be incorporated/registered before the sub-granting agreement initiation
Applicants can apply only with registered legal entities from the following countries:
- EU Member States: Bulgaria, Croatia, Czechia, Estonia, Greece, Spain, Italy, Cyprus, Latvia, Lithuania, Hungary, Malta, Poland, Portugal, Romania, Slovenia, Slovakia
- Horizon Europe Associated Countries: Montenegro, North Macedonia, Serbia, Türkiye, Ukraine
- Outermost Regions: Guadeloupe, French Guiana, Réunion, Martinique, Mayotte and Saint-Martin (France), the Azores and Madeira (Portugal), and the Canary Islands (Spain)
Financial obligations
InnoStars Community Member membership fee:
- Organisations chosen to participate in the programme after the application and selection process must become EIT Health InnoStars Community Members, which requires a yearly membership fee of €1,000.
- Innostars Community Membership: €1,000: This is a basic membership, which gives members access to the Innostars community through partner meetings and includes services such as early Health Technology Assessment training, a monthly community newsletter, an annual partner showcase on our social media, a membership badge, and our upcoming webinar series.
A big difference between InnoStars Awards and other accelerators is that EIT Health has a vision of nurturing entrepreneurship. Throughout the programme young talents can find everything they need for every level of maturity. It brings them from scratch to series A and beyond.
Alessandro Monterosso, Co-Founder and CEO of Patchai
Thanks to the received funding, our company can solve the problems of assessing the heart damage of COVID-19 patients more quickly and allocate more human resources to this project. The funding will allow the costs associated with the development of R&D to be paid for. Winning the InnoStars Awards in 2020 is a great opportunity and we had a chance to meet and work with mentors and advisors thanks to EIT Health InnoStars.
Justin Balčiūnas, Operations Manager at Ligence.
InnoStars Awards was a great international journey of incubation and acceleration for our start-up. We had the chance to meet fabulous mentors and great advisors, who were helping us in the creation of the pitch, with media content as well as in preparing for meetings with investors.
Magda Jander, founder of UVera, winner of InnoStars Awards 2019
Ready to apply?
Applications to InnoStars Awards are currently closed. Be the first to know about upcoming programmes and opportunities that may be a good fit for you by joining our mailing list.
Sign up for updatesInnoStars Awards Contact
Sign up for updates
By joining our mailing list, you will:
- Be the first to know when this programme is open for applications
- Stay up to date about upcoming programmes and opportunities that may be a good fit for you