EIT Digital, a European digital innovation and education organisation that’s aiming to drive Europe’s digital transformation, has launched EIT Digital 2020. The programme targets entrepreneurial minds that are planning to launch a digital tech start-up, product, or deliver digital technology-focused education programmes.
Therefore, from now through to 3 May 2019, EIT Digital is receiving submissions for its Innovation Factory and Entrepreneurship Academy.
The EIT Digital work programme 2020 is guided by the EIT Digital Strategic Innovation Agenda 2020-2022, which identifies the five strategic areas of its work programme: digital tech, digital industry, digital cities, digital wellbeing and digital finance. We consider these to be the key strategic areas to work on for a strong digital Europe.
The EIT Digital Innovation Factory supports pan European entrepreneurial teams to launch new start-ups and new products. “With our pre-incubation support, partners will be embedded in our European ecosystem and receive a financial co-investment to package their technology, sign up customers and attract investors,” says the organisation.
In contrast, the EIT Digital Entrepreneurship Academy provides education support for development and deployment of programmes and courses with business development-oriented components, says EIT Digital. Its partners, the organisation adds, can be part of its European ecosystem of Higher Education Institutions and co-invest with EIT Digital to receive both financial and experienced teaching support.
The selection will be finalised by the end of June, says EIT Digital, and activities are expected to commence on New Year’s day 2020.
Willem Jonker, EIT Digital CEO, comments: “Digital deep tech will impact all aspects of our economy. For a strong position in the digital world, Europe needs to leverage its existing strengths in innovation and entrepreneurship by creating value out of top European research results and building the next generation of global digital industry players.”
On the face of it, ‘digital deep tech’ sounds like a phrase that’s irrelevant to traditional textile manufacturers, but many analysts suggest that these companies would be mistaken for thinking so. Digital deep tech involves many solutions associated with Industry 4.0 and IoT, such as artificial intelligence (AI) and bid data, which if utilised correctly can streamline the textile supply chain.
AI, for example, can enable machine learning which allows companies to implement predictive maintenance: this is where errors and faults are corrected before breakdowns occur. Predictive maintenance significantly reduces machine downtime, which leads to a higher production capacity and the ability to take on more orders, therefore increasing business revenue.
Over the years, the EIT Digital ecosystem, which consists of more than 120 Industry partners and 70 Research and Academia partners, has contributed in building a strong Digital Europe, it claims. It is responsible for more than 380 products that are already available on the market; the inception of more than 120 digital deep tech start-ups; over 1,500 Master School graduates with entrepreneurial skills; and over 180 PhD thesis’ defined with the Industry.
For more information on the EIT Digital 2020 program, visit eitdigital.eu/eitdigital2020.