More than 500 start-ups and SMEs from 41 countries have answered the call for participation from the IMPACT Connected Car-project. The project will help boost the companies dedicated to innovating and developing smart mobility solutions in a market which is expected to represent a €141 billion business opportunity by 2020.
The IMPACT Connected Car-project wraps up its first call for applicants with the participation of over 500 start-ups and SMEs coming from 41 countries, amongst which Spain, Poland, Italy, and France are the most represented. The project is funded within the framework of INNOSUP, a part of the of the European Commission’s Horizon 2020.
The European Commission funds this venture due to the increased importance of new mobility solutions. As autonomous vehicles and connected cars move from science fiction to reality, Europe prioritises on finding ways to tackle the arising opportunities and challenges posed by these technologies.
IMPACT Connected Car supports, connects, and funds companies with innovative projects in the fields of wireless chargers, cybersecurity measures against hackers, smart mobility, and zero emission transportation. Not only are these developments important for the continued safety and welfare of citizens and infrastructure, but also this market is expected to represent a €141 billion business opportunity by 2020.
The acceleration process
The selected start-ups will enter a 3-stage smart programme and will receive up to €60,000 equity free funding. Top performing start-ups will have the opportunity to obtain additional private funding of up to €200,000 from participating venture capital funds.
As in other IMPACT programmes, the entrepreneurs will have access to an international network of more than one hundred recognised mentors, such as such as Ken Stewart, CEO of Karma Automotive, and Carintia Martinez, Director of Information Systems at Renault, along with founders and investors who are experts in different key areas of knowledge, both in the digital sector and in the automotive industry.
The selected companies will be showcased at top international events organised over the course of the year by 4YFN and Mobile World Capital Barcelona.
With a fund of €2.1 million, IMPACT Connected Car will help boost SMEs and start-ups dedicated to innovating and developing smart mobility solutions. The project addresses the fragmentation in the automobile sector, which hinders its digital transformation, while at the same time enabling the link between entrepreneurs and large corporations.
IMPACT Connected Car capitalises on the potential of 5 of the leading automobile clusters in Europe that facilitate the validation and the market introduction of disruptive innovations in smart driving and urban mobility.
To further inspire companies in the industry to drive forward such innovative projects, IMPACT Connected Car has preselected 4 pioneering connected car companies that are already making an impact on the emerging value chains in their respective sectors:
In addition to the abovementioned 4 pioneering companies, IMPACT Connected Car is brought to life through the collaboration of 13 partners from across Europe: FundingBox, CTAG, INSERO, Mov’eo, Autoklastr, LPNT, Mobile World Capital Barcelona, ISDI, PARP, Ferrovial Servicios, PSA Automobiles, Federation Internationale de l’Automobile, and FIWARE Foundation.