RAISE Project Executed Effective Startup Pilot Actions in Second Year

• May 28, 2024

In the second year of the RAISE project’s implementation, the consortium team successfully deployed pilot actions for startups, engaging up to 100 scale-ups alongside high-level coaches, trainers, and speakers. This initiative was part of the broader efforts of RAISE project team to establish a sustainable support framework for startup growth within the EU ecosystem, in accordance with the principles of the Startup Nations Standard Declaration.

Innovative Pilot Actions Drive Startup Growth in the EU

Five distinct sets of pilot actions were executed by five RAISE consortium partners, each leveraging their unique expertise to bolster startup growth within the EU ecosystem. These initiatives align with the Startup Nations Standard Declaration and focus on various critical aspects of business development.

1. Business Model Actions by SERN 

SERN led the way with business plan development for startups and scale-ups. Their approach involved analysing startup concepts, assessing multiple business dimensions, and providing comprehensive advice through different sessions. This included evaluating business concepts, applications, production processes, markets, competitors, pricing strategies, financial requirements, impacts, and time to market. By utilising initial idea stage information, SERN offered thorough support and guidance to enhance business viability.

2. Seed Capital/Venture Capital Actions by EBAN 

EBAN focused on addressing the financial needs of startups and scale-ups. They provided training and services aimed at securing investment, helping startups align their business models with economic scenarios, and enhancing marketing plans. EBAN connected startups with corporations, venture capitalists, and private equity firms, facilitating investment discussions and fostering financial growth.

3. Business Partnerships Actions by EURADA 

EURADA emphasised the expansion of sales channels and technology partnerships for startups. Their guidance and assistance in structuring comprehensive business plans enabled startups to gain insights crucial for market entry. EURADA’s analysis of business concepts, target markets, competitors, and financial needs provided startups with a solid foundation for growth. 

Aiming at providing personalised training and interactive learning, these coaching sessions revolved around a total of four online workshops of 90 minutes each, dealing with crucial aspects: The Lean Canvas, The Unique Value Propositions Canvas, Approaching Risk Capital Investors, and How to Master Your Pitch. The structure of each workshop has been a sum of a theoretical session and a practical one, giving participants in this way the opportunity to gather tailored tips related to their business directly from the coach.

4. Talent Matching Sessions by ICoRSA 

ICoRSA’s efforts focused on bridging the gap between researchers and the private sector. Through mentoring sessions, they linked researcher mentors and startup mentors with startups and scale-ups. ICoRSA organised four matchmaking mentoring events, including interactive online sessions and providing know-how through different presentations of experts from each area. These events resulted in online guides for startups covering topics such as the impact of researchers on startup success, connecting entrepreneurs, investors, and research talents, and using technology and data for talent matching. The key results of these sessions are online guides for startups related to: Researcher’s Impact on Startup Success, Connecting Entrepreneurs, Investors, and Research Talents, and Market Research and Data-Driven Decisions, and Using Technology and Data for Talent Matching. 

5. Women Entrepreneurship Pilot Actions by FUNDECYT-PCTEX 

FUNDECYT-PCTEX promoted female entrepreneurship, particularly in rural areas, making significant strides towards inclusivity. Through upskilling and mentoring sessions, female CEOs of startups received invaluable support and guidance. The focus on fostering networking opportunities and community-building among female entrepreneurs underscored the importance of empowerment and support within the entrepreneurial landscape.

These pilot actions represent a concerted effort to create a sustainable support framework for startup growth across the EU, driving innovation and economic development throughout the region.

Photo via Studentreasuers Publishing