The Business Idea Competition of EIT RawMaterials seeks innovative ideas from individuals, research teams, entrepreneurs and early stage start-ups for new products, processes and services in 3 categories:
- Going beyond discoveries and intelligent mine. Technologies and solutions for improved and new mineral exploration, and for more efficient, safer and sustainable modern mining.
- Optimisation of processes, recycling and circular economy. Technologies and business models for improved material production, materials supply from secondary sources, recycling and for the implementation of a circular economy approach.
- Substitution of resource critical and toxic materials and for optimized performance. New technologies or services that make it possible to substitute or use less critical or toxic materials in key industries. In addition, solutions for an optimised performance of materials and entire products will be supported. New approaches and solutions can be developed on an elemental, material, process, product, system, and service level.
More details of the themes are provided in the call text.
How it works
To enter the Competition, you submit an idea of innovation that can make an impact in the raw materials sector. If you are selected in the first evaluation stage, EIT RawMaterials will help you develop your idea and turn it into a new business. You will learn how to define a business model for your idea and produce a preliminary Business Plan.
You will then submit a Business Plan to a second evaluation stage. Top 5 teams selected in each category will pitch their idea during the final ceremony to a jury consisting of industry partners.
The winners will receive a prize and will be involved in various events organised by the EIT RawMaterials, and have an opportunity to network with the world’s largest community in the raw materials sector.
- Phase 1: Submission of Ideas
- Ideas submission deadline: 31 May 2017
- The best 15 ideas in each category (45 in total) will be selected to go to the next phase and awarded € 1,000 as lump-sum reimbursement for the participation to BootCamp.
- Two webinars will be provided to train potential applicants on how to develop an idea into a business model. On 12 and 19 May join the webinars on “Elaborating your idea into a business model – Stepping stones to take”. For the webinar on 12 May, Friday, from 10:00 CET please register here; for the webinar on 19 May, Friday, from 10:00 CET please register here. After registering, the participants will receive a confirmation email containing information on how to join the webinar.
- Phase 2: BootCamp and coaching for the Idea laureates
- The winners of phase 1 will participate to a 2-day BootCamp on Business Model definition, pitching, that will be organised at the end of June or July
- Mentoring of the teams: the winning teams will be coached to develop a more comprehensive business plan by EIT RawMaterials staff from July to September 2017
- Phase 3: Business Plan Competition
- Business plan submission deadline for the idea laureates: 6 October 2017
- The 5 finalists in each category (15 in total) will be selected and invited to pitch to the Final Ceremony and awarded € 1,000 as lump-sum reimbursement for their participation.
- Phase 4: Final ceremony (pitching, selection and nomination)
- The finalists will pitch their idea during the final Final Ceremony in front of the Jury involving EIT RawMaterials staff and industry partners.
- The 3 winners in each category will be selected by the Jury and awarded:
1st prize: € 10,000; 2nd prize: € 5,000; 3rd prize: € 2,500
Open call and acceptance of IDEA submissions: until 31 May 2017.