Call for Applications: Business Acceleration Program

Call for Applications

Business Acceleration Program
July – October, 2018

A pilot service offered by ENRICH in the USA.

Call opened: May 28, 2018 | Call closes: July 23, 2018 – 23h59 CET

Services offered in this specific call

ENRICH in the USA is launching its first Business Acceleration Program (BAP) as vehicle for setting up promising EU deep-tech entrepreneurs, high-growth startups and SMEs in the US West Coast ecosystem.

The goal of the program is to help you prepare your market entry/development plan and then connect with the #1 Business / Corporate Development “all-tech” ecosystem in the world, and to identify ideal investors, partners and customers to build your US activity upon/with.

Benefits

• 3 months of tailored and interactive curriculum and program (services)
• Live feedbacks from mentors/advisors and potential investors.
• Support to find seed funding opportunities in the USA (including equity based accelerators).
• Introduction to potential technological and financial corporate partners.
• Support to find Proofs of Concept / Pilots opportunities with customers.
• Fully leverage ENRICH in the USA and local ambassadors' support.
• Participation in a one-week trip in San Francisco to confirm introductions and interviews.

Brief description of the program

• 1st Step - Assessment And Planning (month #1)
  After studying your business plan and collaterals, we will conduct a 3-hour brainstorming session (or two 90 min sessions) with a team of business advisors to challenge you, to assess your strengths and work out your weaknesses to enter the US market, and to agree on the goals to be achieved during your ENRICH in the USA acceleration program. 

• 2nd step - Weekly Curriculum (months #1, #2 and #3)
  During 3 months, you will participate at weekly interactive online work sessions (2 to 4 hours per week) as described below.
  • US Market Access Academy (1h30 x 4 sessions): Learn how to find US potential clients, survey potential end-users, engage PoC, and set up a pilot
  • US Product Management Academy (1h30 x 4 sessions): Learn how to develop your Product Road Map including your Market Requirements Document and Product Requirements Document.
  • US Capital Access Academy (1h30 x 4 sessions): Receive guidance on your elevator pitch, presentations, messaging, website and collateral, and learn how to apply to receive seed funding via equity-based programs, and angel investors.

• 3rd Step - US Advisory Committee (months #2 and #3)
  Together, we will tailor and select an advisory team of 3 US mentors. 2 structured advisory sessions of 1.5 hour each will be conducted – starting month #2.

• 4th step - Acceleration Week In The Silicon Valley (month #3)
  Meet in person your local advisory committee and ENRICH in the USA team, and put in practice what you have learnt: pitch to / interview with potential seed investors and equity-based accelerators, and meet the potential partners and end-users you have identified with our support.
  The Acceleration Week is planned with 14 hours of scheduled group sessions, brief/debrief meetings and interviews in San Francisco Bay / Silicon Valley, and 20 hours of one-on-one meetings scheduled by you with our support (and contacts) in San Francisco Bay / Silicon Valley.
  The precise dates of traveling are to be agreed on / confirmed by the group of companies selected.

Expected outcomes and impact per participant

Average per participant

• Business development and sales/marketing plan advised
• Road map for US expansion in place (based on the full review/rewrite of all important documents and collaterals)
• ≥ 10 meetings/discussions with potential partners and investors
• ≥ 2 “deals” with US/international prospected targets met or introduced to - in the next 24 months. - Road map for US expansion in place (based on the full review/rewrite of all important documents and collaterals)

Target Group of this Call

Deep-tech entrepreneurs, high growth startups or SMEs that have been selected and have already benefitted from an ENRICH service or other Horizon 2020 /FP7 funded programs in relation to the USA, such as Ready2Go or Overseas Trade Fair, or other government / national trade programs in relation to the USA, and would like to launch their “dual” activity in the USA (opening a presence in the USA while keeping their structure in Europe) in the next 12-18 months.

The participant have to be deep-tech focused e.g. Biotech, Cleantech, Nanotech, Aeronautic/Aerospace, etc. or Industry focus with ICT convergence e.g. Smart Home, Smart City, Smart manufacturing, e-Health, Ag-tech, Food-tech, Autonomous Vehicles, Applications with Drones or VR/AR/360/Simulation, Security applications, Blockchain applications, etc.

Eligibility Criteria

In order to qualify for the provided service, applicants have to meet the following requirements:

• Individual applicant must be a tax payer in an EU MS/AC AND/OR be an EU MS/AC passport holder
• Incorporated applicant must pay taxes in an EU MS/AC AND/OR have as the majority of shareholders EU MS/AC passport holder
• Applicant must be able to communicate (read and speak) in English;

For more information about the Open call click HERE and about the Evaluation Rubrics HERE

Time Schedule

Contacts

For questions regarding the Business Acceleration Program, please contact:

Files to be used for the application
Business Acceleration Program Full Open Call text

BAP Evaluation Rubrics