Support for proof-of-concept and business development

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Overview.

HiTech.Startup is a milestone-based program that helps the validation of technologies and the development of a well-grounded business strategy with the support of HiSeedTech network. Commercializing early stage technologies is a very difficult and long process. The path to market (or to license) involves both the validation of the technologies and the assessment of market potential. 

HiTech.Startup will help the team connect with mentors, domain experts, industry partners and investors to streamline the technologies advancement and develop an investment-ready business plan.

Teams selected to participate will be supported to advance the technologies to the near-market stage, in the business development of their project and in gathering funding.

Who
Can Apply?

Teams  with groundbreaking innovative ideas, sustained on unique technologies, and a sound business case
that are strongly motivated to make the world a better place. 

If you are not quite sure whether the Program is for you, please feel free to  contact us.

What
are the costs?

The participation in the  Program does not involve any fees
However, in exchange for the services provided to the start-ups, we ask for 5% of the start-up’s common stock, once we managed to help the start-up gather over €750.000 in funding (dilutive or non-dilutive), sales or licensing fees. 

 

How
it works?

Applications are open year-round.  

To apply send us an e-mail providing evidence that the team owns the intellectual property rights to the technology and describing the business case for your ground-breaking idea. 

Suggestion on what needs to be covered by the business case:  
1) The product concept
What it is and does (emphasizing the benefits over the technical details on how it works) and what is innovative and unique.

2) The market need
How the product concept creates value in the marketplace and what real need does it fulfil.

3) The  technology
Defining its functionality and current state of development.

4) The  development roadmap
Outlining the necessary technology or product development required for the next stage of commercialization, including a timeline of development and an estimate of necessary funds for continued development, including the key assumptions for deriving those estimates.

5) The  market
Outlining the rationale and credible sources used to define and seize the initial market segment(s), market growth rates and trends, sufficient market size to support the business development and timeliness of the product concept to the initial market should be addressed.

6) The competitive advantage
Analyzing the technology landscape in order to sustain the product concept advantage, discussing barriers to market entry and intellectual property position. 

7) The  financials
Emphasising the rationale to derive the pricing point for the product, the Costs of Goods Sold, the sales revenues and funding needs (NB: for projects aimed at licensing, the rationale for estimating upfront licensing fees and funding needs is sufficient). 

Each selected team will be assigned mentor, that will support the team in every task required to move the project to the next level.  

The selection process includes: 
An interview with every team that applied to the HiTech.Startup 
To assess the team fit with the Program and its motivation to participate (not required for teams that participated in the HiTech Program). 

The review and evaluation of the submitted application materials by a selection panel. 

A presentation to a business panel. 

Other Programs.

Changing the Economic Development Paradigm.

Creating value from knowledge through technology entrepreneurship and open innovation.

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