FAQ – IMPACT Growth

IMPACT Growth is the Startup Accelerator made by top accelerators, global brands and VCs.

IMPACT Growth will select 14 startups that will be financed with up to €250,000 equity free in cash plus acceleration services. The 14 startups selected will receive €100,000 in cash equity free and services in the first phase. The two best of these startups will receive a prize of up to €150,000 in cash equity free, so in total they can receive up to €250,000 equity free in cash plus services. These two startups will also have the possibility to be privately funded with around €1.5M in rounds lead by the two VCs of the consortium: Kibo Ventures and Accelerace. To enter the program, startups must adopt FIWARE technology.

Selected companies would be able to participate in an online, six-month premium acceleration service, led by key world class digital ecosystem professionals and entrepreneurs, which will include:

• Specialized training in digital entrepreneurship and in the four sectors addressed to give you the specific tools necessary to manage your project or business and take it to the next level.
• Startups that participate in the program will benefit of being part of the FIWARE Ecosystem and the use of FIWARE technologies.
• Ongoing mentorship at a high level, providing them with continued support throughout the whole process.
• Crowdfunding campaigns to support the beneficiaries in raising additional funds.
• Internationalization services.
• An Investors Day where selected startups will have direct contact with investors.

IMPACT Growth is a high performance and equity free acceleration program supported by Fundingbox, ISDI, Accelerace, Mobile World Capital Barcelona, FIWARE Foundation, Kibo Ventures, Invesdor, Danone, Ferrovial, DOCOMO Digital, and MADE, among other big players.

IMPACT Growth is looking for startups in the following verticals: Smart Infrastructures and Cities; Smart Content (Media, AdTech and Content); Smart Manufacturing; and Smart AgriFood.

Apply: impact-accelerator.com

Smart Infrastructures and Cities is a future Internet meta-sector that addresses solutions for the challenges of urbanisation by helping to optimise resource consumption and improve services through better management of supply and demand in urban life activities.

In Smart Infrastructures and Cities we will foster innovative solutions to tackle issues such as energy management, water management, waste management, transport management, mobility, assisted living, eGovernment, gity infrastructures, or security.

Ferrovial is the corporate leading the Smart Infrastructures and Cities vertical. They will participate, in a transversal way, in all the project activities related to its vertical in particular: selection of the startups, mentoring for the beneficiaries and support by offering them commercial partnerships or any other further support.

Smart Manufacturing is the collective term for technologies and concepts of value chain organization, which puts together Cyber-Physical Systems, the Internet of Things and the Internet of Services. Within the modular structured Smart Manufacturing, cyber-physical systems monitor physical processes, create a virtual copy of the physical world and make decentralised decisions. Over the Internet of Things, cyber-physical systems communicate and cooperate with each other and with humans in real time, and via the Internet of Services, both internal and crossorganizational services are offered and utilised by participants of the value chain.

In Smart Manufacturing we will foster innovative solutions to tackle issues such as Advanced Intelligent Manufacturing, Human-centered Manufacturing, product data and knowledge in product life cycle, Collaborative and Mobile Product Lifecycle Management (PLM), Cloud Manufacturing, Manufacturing as a Service, Product-Service Manufacturing Ecosystem.

MADE is the entity of reference for the Smart Factory Vertical. MADE consists of more than 50 Danish manufacturing organizations (including Lego Group and Siemens Wind Power). They will participate, in a transversal way, in all the project activities related to its vertical in particular: selection of the startups, mentoring for the beneficiaries and support by offering them commercial partnerships or any other further support.

Smart Agrifood is the Future Internet meta-sector that addresses smart farming, focussing on sensors and traceability; smart agri-logistics, focusing on real-time virtualisation, connectivity and logistics intelligence; smart food awareness, focussing on transparency of data and knowledge representation.

In Smart Agrifood we are looking for projects related to farming, agri-logistics and food awareness, for new applications about traceability, logistics and quality control in production and distribution.

Danone is the entity of reference for the Smart Agrifood vertical. They will participate, in a transversal way, in all the project activities related to its vertical in particular: selection of the startups, mentoring for the beneficiaries and support by offering them commercial partnerships or any other further support.

Smart Content looks for startups operating in the mobile content sector as content provider and/or content distributor, dealing with innovative products in the domain of electronic media, telecommunication, gaming, leisure, tourism, culture, education, entertainment, advertising, video, VR, and more.

The partner for this vertical is DOCOMO Digital. DOCOMO Digital is part of NTT DOCOMO, a leading global technology innovator. With over 15 years of expertise in mobile content, distributed through its proprietary platforms to manage customer acquisition and mobile payments, thanks to the connection to over 200 mobile network operators in the world. DOCOMO Digital will bring its international experience and know-how, supporting the startups in the Smart Content sector to grow and succeed.

First of all, because you have the possibility of receiving up to €250,000 in cash equity free! The 14 companies that enter in the acceleration program will receive up to €100,000 and the two best companies a prize of €150,000, so in total you can receive up to €250,000 in cash equity free.

But it is not just for the money!

You would be able to participate in a six-month premium acceleration service, led by key world class digital ecosystem professionals and entrepreneurs, which will offer you:

• Specialized training in digital entrepreneurship and in the four sectors addressed to give you the specific tools necessary to manage your project or business and take it to the next level.
• Ongoing mentorship at a high level, providing you with continued support throughout the whole process.
• Crowdfunding campaigns to support you in raising additional funds.
• Internationalization services.
• The possibility of receiving private investment from the VCs of the consortium.
• An Investors Day where you will have direct contact with investors.

Therefore, if you want to learn from and work with the most recognized professionals within your sector, with first class mentoring support and importantly real financial support, IMPACT Growth is your program.

If you think you don’t fit in any of the verticals, please contact us through our helpdesk. We will help you confirm if you can apply or not.

The IMPACT Open Call is open to SMEs (legal persons) ^[1] participating on their own (only one SME per application).

SMEs from all over the world may apply^[2], but only SMEs legally established in any of the following countries (hereafter collectively identified as the ‘Eligible Countries’) will be eligible for the IMPACT Growth Acceleration Program^[3]:

• The Member States of the European Union: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and United Kingdom.
• The Overseas Countries and Territories (OCT) linked to the Member States^[4]: Anguilla, Aruba, Bermuda, Bonaire, British Virgin Islands, Cayman Islands, Curaçao, Falkland Islands, French Polynesia, Greenland, Montserrat, New Caledonia, Pitcairn Islands, Saba, Saint Barthélémy, Saint Helena, Saint Pierre and Miquelon, Sint Eustatius, Sint Maarten, Turks and Caicos Islands, Wallis and Futuna.
• The Countries Associated to Horizon 2020^[5]: the latest information on which countries are associated, or in the process of association to Horizon 2020 can be found in the online manual^[6].

The following countries, except where this is explicitly excluded in the call text: Afghanistan, Albania, Algeria, American Samoa, Angola, Argentina, Armenia, Azerbaijan, Bangladesh, Belarus, Belize, Benin, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Burkina Faso, Burundi, Cambodia, Cameroon, Cape Verde, Central African Republic, Chad,

• Chile, Colombia, Comoros, Congo (Democratic People’s Republic), Congo (Republic), Costa Rica, Côte d’Ivoire, Cuba, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Eritrea, Ethiopia, Fiji, Gabon, Gambia, Georgia, Ghana, Grenada, Guatemala, Guinea, Guinea-Buissau, Guyana, Haiti, Honduras, Indonesia, Iran, Iraq, Jamaica, Jordan, Kazakhstan, Kenya, Kiribati, Korea (Democratic Republic), Kosovo*, Kyrgyz Republic, Lao, Lebanon, Lesotho, Liberia, Libya, former Yugoslav Republic of Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Marshall Islands, Mauritania, Mauritius, Micronesia, Moldova, Mongolia, Montenegro, Morocco, Mozambique, Myanmar, Namibia, Nepal, Nicaragua, Niger, Nigeria, Pakistan, Palau, Palestine, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Rwanda, Samoa, Sao Tome and Principe, Senegal, Serbia, Seychelles, Sierra Leone, Solomon Islands, Somalia, South Africa, South Sudan, Sri Lanka, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Sudan, Suriname, Swaziland, Syrian Arab Republic, Tajikistan, Tanzania, Thailand, Timor-Leste, Togo, Tonga, Tunisia, Turkey, Turkmenistan, Tuvalu, Uganda, Ukraine, Uzbekistan, Vanuatu, Uruguay, Venezuela, Vietnam, Yemen, Zambia, Zimbabwe.

Moreover, to be eligible, your proposals have to fully comply with the eligibility criteria indicated in the ‘Guide for Applicants’, which are:

• The product or service must use FIWARE technologies
• The scope of the project must be in one of the following four sectors: Smart Agrifood, Smart Infrastructures and Cities, Smart Content and Smart Manufacturing.
• The project has to be already invested in by private and/or public funds.

In addition you should also take note of the eligibility criteria, as described in the ‘Guide for Applicants’:

• Only one proposal per SME can be submitted. If more than one proposal per SME is identified, the proposal will be excluded from the process.

^[1] A SME will be considered as such if in accordance with the description of the Commission Recommendation 2003/361/EC [http://ec.europa.eu/research/participants/data/ref/h2020/grants_manual/hi/3cpart/h2020-hi-list-ac_en.pdf]. In short, the criteria are:

• Headcount in Annual Work Unit (AWU) less than 250.
• Annual turnover less or equal to €50 million OR annual balance sheet total less or equal to €43 million.

Note that the figures of partner and linked enterprises should also be considered with documentation provided.

^[2] Non EU SMEs may apply but in case they become a beneficiary of IMPACT Growth Open Call they have to establish in one of the Eligible Countries (EU28).

^[3] http://ec.europa.eu/research/participants/data/ref/h2020/wp/2014_2015/annexes/h2020-wp1415-annex-a-countries-rules_en.pdf

^[4] Entities from Overseas Countries and Territories (OCT) are eligible for funding under the same conditions as entities from the Member States to which the OCT in question is linked

^[5] Signed an agreement with the Union as identified in Article 7 of the Horizon 2020 Regulation.

^[6]http://ec.europa.eu/research/participants/docs/h2020-funding-guide/cross-cutting-issues/internationalcooperation_en.htm

As you can see in the “Guide for Applicants,” Section 3, applicants must be SMEs [legal person] participating on their own, only one SME (not a consortium of SMEs).

A product development partnership, focused on technical or technology collaboration, is not a limitation for application per se.

Other kinds of partnership, e.g. business partnership or more specifically crossed share capital participations, with a large company should not breach EC RECOMMENDATION of 6 May 2003 concerning the definition of micro, small and medium-sized enterprises (notified under document number C(2003) 1422) (2003/361/EC).

If the large company owns more than 25% of the SME’s shareholders capital, this would most probably mean that the small daughter company could NOT be considered an SME.

The ideal project type IMPACT Growth Consortium is looking for would be high growth projects with an already existing market footprint (TRL 8 or 9). They will have to show market traction expressed in users or profit, as well as some pre-seed investment already raised from private or public investors. The ideal target projects are looking for additional investment for scaling their business globally, looking to open a new territory in less than 6 months and, overall, already using or be willing to adopt FIWARE as a core part of their technology roadmap. The social impact will be also valuable.

All these elements are recommended, they are not mandatory. The more closely the projects match these criteria, the more likely they will be selected.

Because IMPACT Growth is looking for high growth projects with an already existing market footprint (TRL 8 or 9). They will have to show market traction expressed in users or profit, as well as some pre-seed investment already raised from private or public investors. The ideal target projects are looking for additional investment for scaling their business globally, looking to open a new territory in less than 6 months and, overall, already using or be willing to adopt FIWARE or any other Future Internet Technology promoted within the project, as a core part of their technology roadmap.

Level of market traction is expressed in terms of users, sales and profit.

Inside the online form there is a specific field for the attachment (eg. video) to show your product.

It would be recommended to apply as SMEs in constitution process at this stage because only SMEs participating on their own are eligible to receive funds.

For this reason, if you have already incorporated your company and you only need the registration number, you can apply as an SME. We will ask you the documentation to prove that you are an SME, once the evaluation process is finished and before starting the Acceleration Program, so well after the closing date for applications.

In any case, although you can apply as SMEs in constitution process, if you are selected as a beneficiary, the IMPACT Growth project will ask you to be incorporated as an SME before the start of the IMPACT Growth Acceleration Program.

No, according to IMPACT Growth Open Call eligibility criteria: Only one proposal per SME or individual can be submitted. If more than one proposal per SME or individual is identified by the IMPACT Growth team all the proposals of the applicant will be discarded.

It is not a requirement, but it would be positively evaluated.

Yes, as long as the programs don’t overlap. If you are selected, you will have to sign a Declaration confirming that you will not be participating in another Acceleration Program once you start the IMPACT Growth Program.

Any project submitted is required to make a relevant use of FIWARE technologies, therefore qualifying to be listed as a “Powered by FIWARE” smart solution in the FIWARE Marketplace. Alternatively, they may also be focused on the creation of a base software enabler technology or physical device that is designed to work “plug&play” with Smart Solutions “Powered by FIWARE” (specific drivers and documentation for implementing and configuring the required “plug&play” functionality have to be delivered, so the proposed software enablers or devices can be listed as “FIWARE-ready” technologies in the FIWARE Marketplace).

In your application you need to show a feasible architecture for your system, including some of the FIWARE Enablers. You can also include your current architecture if you like, along with the proposed one integrating FIWARE. Your project will be evaluated on the basis of this architecture, so it has to be consistent but does not need to be definitive, as it can then be subject to minor changes. If you are selected, you will have to send a final architecture proposal based on the one proposed in your application.

Regarding the technology map needed for your application, a diagram showing the different components of your architecture and the connections and interactions between them, plus a reference to your technology stack (both front and back end) is fine. If you want you can add some textual explanation that clarifies both, and help the evaluators understanding your technology.

IMPACT Growth promotes the use of all FIWARE Generic Enablers, although in this Open Call it is going to prioritize the following ones:

“CORE” ENABLERS

1. Data and Context management

• Context Broker: Orion
• Internet of Things Services Enablement
• Backend Device Management: IDAS (IoT agents)
• Security
• Identity Management: KeyRock
• PEP Proxy: Wilma

“COMPLEMENTARY” ENABLERS

1. Data and Context management

• Real-time Stream-oriented Processing: Kurento
• BigData Analysis: Cosmos
• Complex Event Processing (CEP): Proactive
• Dataset publications: CKAN

2. Internet of Things Services Enablement

• IoT Data Edge Consolidation GE: Cepheus

3. Security

• Authorization PDP: AuthZForce

4. Applications Ecosystems and Delivery Frameworks

• Application Mashup: Wirecloud
• Data visualization: SpagoBI
• Business API ecosystem: Biz

You can apply for the call through the following link: http://www.impactgrowth.fundingbox.com/apply

According to the information shared by applicants of the last call, 70% of the applicants filled in it in 2 days or less and 40% in 1 day or less. In this open call we have reduced the number of questions with the goal of allowing most of you to fill in the form in 1 day or less.

An important aspect of your application is the technology that is used in your project as you will be required to upload a Technology Map (including FIWARE Technologies Use Plan) as part of your application.

We encourage you to keep your proposal as focused as possible concentrating on the specific information requests made.

The ‘Guide for Applicants’ is the main reference document. It provides more details about the evaluation and selection processes the many requirements, and the acceleration program offered by IMPACT Growth.

Additionally an Open Call and Technical Helpdesk (http://impact-growth.fundingbox.com/spaces) service is on hand to clear up any doubts you may have relating to the application process (eligibility rules, application form information requests, etc) or if you encounter any technical problem when filling in the application form.

There will be two cutoff dates:

• 24th of October
• 12th of December

The companies that apply before the first deadline will benefit from having more time to be evaluated, also, in case they don’t pass to the next phase they will receive feedback they can take into account to improve their application before the second deadline.

The 12th of December is the final deadline; after that date, no applications will be accepted.

The IMPACT Growth selection process has been designed to be fair, fun and interesting for you. Therefore we have designed a process in six phases.

• Phase 1. Projects will be presented through the FundingBox platform. After completing the online questionnaire, those who meet the eligibility criteria (see Question Nº 3.1) will move to the next phase of selection.
• Phase 2. After that specific criteria
• Team skills.
• Founders dedication to the project.
• Traction in terms of users, profit and sales.
• Growth potential and knowledge of potential market.
• TRL, Technology Readiness Level.
• Amount of investment received, founders own equity and sources of money.
• On round: looking for money and investment for scaling the business.
• Partnership, having or in advanced stage of commitment with a corporate or any equivalent strategic partner.
• Phase 3. After that, each proposal will be evaluated by 3 independent experts who will assess different variables (Team, Business Opportunity and Strategic Fit)
• Phase 4. Best proposals will go to the next step, FIT/FIWARE Check for technology evaluation.
• Phase 5. The Short List of Pre-Selected Applicants proposals will pass to the Consensus Meeting, which will define the finalists that will present their projects at the Jury Day.
• Phase 6. Finally, the highest ranked proposals will participate in the Jury Day which will involve interviews by the Jury that will then select the final beneficiaries.

For more information about the evaluation process, consult the “Guide for Applicants”.

The IMPACT Growth funding scheme is based on a series of payments against validation of gradually achieved milestones. That means that payments will only be made upon receiving and validating the beneficiary’s previously agreed milestones. Therefore, there is no advance payment.

The payments will be done in 2 installments subject to achievement of certain milestones. Participants will receive:

• 14 beneficiaries up to € 100,000 equity free in cash to be delivered in 3 installments.
• 2 beneficiaries will receive extra funding of up to €150,000, so in total they will receive up to €250,000 equity free in cash.

As it is indicated in the DoA the €100,000 grant is paid in two stages: 50% at the beginning of the acceleration program and 50% at the end of the acceleration program.

To receive the first 50% companies must sign the subgrant agreement and related documents and send the FIWARE technology map, To receive the second payment they must comply with the milestones that were set up at the beginning of the acceleration program, both from the FIWARE and the business perspective.

The two companies which will receive €250,000 will receive a payment of €150,000 around month 6.

We assume that the schedule for payments will be as below:

• 50%: month 0, €42,500. (42,5% of €50,000)
• 50%: month 3, €42,500. (42,5% of €50,000)
• Extra funding, month 6, €127,500 (85 % of €150,000)
• Last payment: 12 startups: €15,000 (15% of €100,000), 2 startups: €37,500 (15% of €250,000). This payment will be done when the consortium receive the last payment from the European Commission, around first quarter 2019.

The dates might change dependently on receiving the final payment from the EC.

If you are selected by the IMPACT Growth Selection Committee, you will receive the following services:

• Mentoring services
• Welcome event
• IMPACT GROWTH Training Camp
• Online training
• Perks
• Project Monitoring
• ‘Crowdfunding Campaign’
• Internationalisation Services
• ‘VIP Crowdfunding Campaigns’
• Investors Day.

In order to properly monitor the startups’ performance at this stage, an “Individual Mentoring Plan” per startup will be defined at the beginning of the Program, establishing the KPIs to be evaluated in the different milestones.