What is Innovation in the context of the Challenge Fund?
Everything that adds value to your business
– Makes it more efficient
– Reduces cost and time
– Is something new
– It can be a new process, a new marketing
approach, a new product / service
– Responds to existing challenges in your
business
What are we looking forward?
– The proposal MUST be innovative – The proposal should be FEASIBLE and SUSTAINABLE
– The proposal should have SOCIAL IMPACT
Priority Sectors for Startups
– Agriculture
– Digital Solutions
– Innovative solutions that tackle challenges related to the Covid-19 pandemic
Priority sectors for Innovation
Supporting Organizations (ISOs)
– Programmes that support female entrepreneurship
– Programmes that support linkages and access to potential investors and private sector
– Programmes that facilitate the access to regional and international networks and programs that better connect the Balkan Ecosystem
– Programmes that support Green / circular economy – Programmes that support Digital solutions
How we Rule?
– Not just funds
– In-depth mentoring (financial, legal and tailor-made technical support) throughout the period of implementation
– Transparency – the application, the evaluation and answering your questions – everything is online
– Evaluation – 5 stages – 1) Management team, 2) Financial advisory team, 3) Swedish evaluation committee, 4) Validation Bootcamp and 5) Legal advisory team
How much can you apply for?
Who can apply to the
Challenge Fund?
– Start-ups between 0-5 years
– Innovation Support Organizations (incubators, accelerators, hubs, universities, NGOs, private companies, all entities that support start-ups)
UP TO
30,000 €
SCALE-UP START-UP
BETWEEN 0-5 YEARS
UP TO
100,000 €
INNOVATION
SUPPORT ORGANIZATIONS
NOT YOUNGER THAN 1 YEAR
IMPORTANT DATES
ANY QUESTIONS?
Challenge Fund Team
[email protected]
Do you need assistance in your application?
Book an individual meeting on this link:
https://euforinnovation.al/one-to-one-consultations-for-challenge-fund-application/
Rules for Funding
-Already be established in Albania or ensure that the start-up will operate and be registered in
Albania during the project period (hence also Albanian diaspora, and non-Albanian residents in
Albania would be eligible to apply as along as the business is assured to take place in Albania),
– Business entities that have not performed registered activities for more than 36 months until
the date of publication of the Call of Proposals, are not eligible to receive funding from the
Challenge Fund,
– must provide minimum 50% of cost share (of the total value of the project);
– be directly responsible for the preparation and implementation of the activities outlined in the
application.
– Period of implementation will be no longer than 6 months
