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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.

Ready to accelerate your start-up? Apply by 5 August 2024.

Apply now

What you get

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:

5 August

Submission deadline for applications

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.

Ready to apply?

To apply simply register to our application platform, access your account and select the Innostars Awards application form. Don’t forget to fill your application by 5 August 2024.

Apply now

InnoStars Awards Contact