Ga verder naar de inhoud

EIT Food Fast Track to Market 2024

A new opportunity to get your food innovation product or service to market quicker and enhance your commercial success.

All EIT Food regions
LEUVEN

Accelerating the commercialisation of food products and services in Europe contributing to positive change in our food system.

Total funding of up to €60k–€400k per company via a revenue-based financing mechanism.

With the launch of Fast Track to Market, we are looking to fund mature startups and SMEs whose products or services directly contribute to one of EIT Food’s three missions:


EIT Food is looking for fast-moving, mature companies with an existing business case that has high potential to generate B2B/B2C sales for new or improved food innovation products or services. Through the Fast Track To Market funding programme, you can boost your market readiness to bring your service to new or expanded markets.

Whether expanding to new markets, or growing new products in existing markets, the support of EIT Food can help your company speed up your marketability and potential commercial success.

Who can apply to Fast Track to Market?

Your company is eligible to apply if you:

  • Are a legally incorporated entity in one of the EU or Horizon Europe eligible country, and have been for at least 12 months;
  • Have a technological product, service, solution that fits within one of the three EIT Food Missions;
  • Are classed as small sized company, as defined in the EU recommendation 2003/361 (between 3 and 49 employees and less than 10 million turnover or balance sheet);

  • Have at least 3 full time employees.

  • You are past the ideation phase; you are generating revenues from paying customers and not only from pilots.


We ask that applicants have a clear case for a 6–10 month project that can significantly accelerate their startup/SME’s commercial success, and that the proposed project must be able to have an immediate impact by bringing their products or services to the market.

Applicants already affiliated with EIT Food (FAN and Rising Food Stars) are also welcome to apply.

Webinar content & dates

Please keep an eye out for the next window of submissions, expected in September of 2024.

  • The first webinar was held on the 21st of February 2024
  • The second webinar was held on the 13th of March 2024

How do I apply to Fast Track to Market?

If you fit the above criteria, we will ask you to fill out an application form once the next window of submissions are open.

Within the application form, you will be asked to submit the following:

  • A fully-written company business plan and presentation

  • A pitch deck outlining the commercial readiness of your proposed fast-tracked product or solution

  • A commercialisation plan that describes your company’s commercial capacity for current and future assets/products

  • A report attesting to your company’s financial statements and health

  • A project plan outlining the activities to achieve next sales milestones

  • A budget plan outlining the expected costs for the proposed project scope

How does the Fast Track to Market funding work?

Your company can apply for up to €60k–€400k in funding.

Your start up or SME will be the sole funding beneficiary of the funded project and must allocate the funding to eligible costs between the contract signature date for a maximum duration of 10 months following the project start date.

Revenue-based financing mechanism

Selected Fast Track to Market startups/SMEs will need to comply with EIT Food’s Revenue Based Financing Agreement, which consists of a repayment based on the company’s revenue. Repayment is not dependent on the sales of the foreseen marketed innovation.

The Revenue Based Financing Agreement allows us to reinvest in our community. More information on the mechanism can be found in the guidelines and was explained further during our webinars on 21 February 2024 and 13 March 2024.

Alberts benefited in many ways from the EIT Food collaboration, especially through the 'Fast Track' market initiative. This grant not only provided financial support for the development and market acceleration of our oat and coco plant-based drinks but also laid out a structured roadmap with partners Alpro and Decathlon. We appreciated the initiative's speed, living up to its name by allowing us to advance swiftly and effectively.

- Dr. Ir. Glenn Mathijssen, CEO & co-Founder, Alberts

FAQ

How many Fast Track to Market projects will be awarded?

Am I eligible to apply if my company hasn’t generated revenues yet?

Does EIT Food have a preference for how the Fast Track to Market funding should be spent? What costs are eligible?

What is revenue-based financing? Why is there a financial return mechanism?

What is the difference between Fast Track to Market’s revenue-based financing versus a bank loan or an equity investment?

When does repayment begin? What would be my repayment amount?

Are UK and Swiss entities eligible to apply?

Register for more information

Your Name

Please enter your full name.

Please enter your email so we can get in touch.

Privacy policy 
Marketing

Contact us

Adriano pilla
Adriano Pilla

Innovation Orchestrator

More Open Calls

open call
EIT Food is actively seeking communication agencies who can provide valuable support for brand, digital communications, media management and event management starting in August 2024.
open call
EIT Food South is looking for entities to organise the 'Women in Agrifood Stories' on 2nd of December 2024 in Greece, Italy, Portugal, Spain or Turkey.
open call
One of the newest activities in Supernovas, launched in 2023, is Raising VC Stars, a training series for women working in entry-level positions in VC.