EIT Health InnoStars Awards

EIT Health InnoStars Awards is a relatively new program launched by the EIT, whose aim is to support early-stage health industry ventures that want to make their business concepts prosper and bring them to the domestic and international market. It focuses on SMEs, startups and spin-offs. 

Awarded companies will receive a financial reward of 25,000€, as well as individual mentoring for a four-months period and the chance to participate in two bootcamps in Europe. In addition, the EIT will give the opportunity to meet customers, investors and partners to the winners.

After the four-months period, only 10 companies will become finalist to compete for three possible prizes: an additional 25,000€; 15,000€, or 10,000€ in funding. Participants must come from countries from Central, Eastern and Southern Europe so as to promote innovation all over the continent, given that these regions show lower levels of innovation than other European countries.

Since its launch in 2016, the InnoStars program has supported and financed several projects from different companies. Now it also intends to encourage those European countries which are less innovative. To highlight some of them, we find BRIGHT - Beyond Research and Information Graphics for Health and Technology, BrachyDOSE, Hydrumedical, InoCure.

General Information

InnoStars Awards supports health startups, micro and small enterprises, and spin-offs that already have a prototype or an MVP, but the product/service is not on the market yet (no income). 

They provide substantial financial support with:

-25K€ in funding,

-and additional 25K€, 15K€, 10K€,

Furthermore, they also offer mentoring, training, and the opportunity during the later stages to have access to EIT Health’s Investor network and to the EIT Health’s Living Labs and Test Beds network.

Application process

To apply for this program, candidates must access the application interface and submit it. The EIT will take into account the following factors to validate the application: how well-defined the prototype or minimum viable product is, the value proposition, the novelty and feasibility of the approach, the potential market impact of the innovation, the potential impact in the InnoStars region, the team and how well it fits with EIT Health’s strategic objectives.

20 applicants will be selected and will receive 25K€ in order to cover four months of training and mentoring, which includes additional training sessions provided from two different European locations. Moreover, they will also be able to gain further support and invaluable investor connections through EIT Health’s world-class network.

Only 10 out of these 20 will be selected for the pitch contest based on their business plans. They could have the chance to pitch their innovations to an international jury of healthcare professionals, representatives of EIT Health, industrial partners and market experts. Apart from gaining recognition for their ideas, they could win up to €25,000 in additional support for the launch of your product or service.

Last update: March 21, 2022