Ga verder naar de inhoud

Marketed Innovation Prize

We are looking for products or services which have been developed in part of, or in full, as a result of engagements with EIT Food. We will award a prize of €10,000 for the best marketed innovation and up to twenty prizes of €5,000 for marketed innovations which demonstrate impact in the market.

Background

The EIT Food community have continuously invested in innovation, bringing numerous products and services to market since our inception. We want to reward the success of our community and recognise the impact that the products and services derived from EIT Food projects and programmes have had, through a Prize Challenge.

The prize is open to all organisations who have developed a product or service that has reached the market, following their involvement with EIT. That includes partners who have been involved in innovation, education or public engagement projects and programmes, and startups that have been through our accelerators.

This prize will be awarded to impactful innovations which have reached the market and have achieved a level of commercial success. We are looking for products or services which have been developed in part or in full as a result of your engagement with EIT Food. This could be products which were developed directly during a project, or products which have been developed after a project has completed, using the knowledge gained during the project.

The prize is also open to all startups that have been through one of our accelerator programmes, where you have now achieved commercial success through the sale of products or services, including organisations currently active in our programmes, and alumni.

You may have several products or services that have achieved market success related to one project, or across several projects. You can submit multiple entries for the prize, each will be evaluated independently.

The prize for a successful entry is awarded to the organisation who has taken the product or service to market and can provide evidence of commercial success. Where a consortium was involved in the project, any division of the prize across the consortium will be the responsibility of the organisation submitting the entry.

Prize

The best marketed innovation will be awarded a prize of €10,000 with up to twenty prizes of €5,000 for marketed innovations which demonstrate impact in the market, following involvement with EIT Food.

Successful entries will also be featured across EIT Food channels.

Timeline

The deadline for submission is 17:00 CET on Friday 3rd February. Any entries received after this will not be eligible for the prizes.

Eligibility requirements

  • To qualify and entry must provide evidence of commercial success (revenues of at least €10k since launch), and the entry must provide a link to a valid EIT Food project or on an EIT Food programme, including the Seedbed, FAN and Rising Food Stars, between 1st January 2019 and 31st December 2022. Please note, marketed innovations reported as a KAVA KPI in previous years are not eligible for the financial prizes, but are eligible to included in promotional activity.
  • The prize is open to all organisations who have been a named partner on any Innovation, Education, Public Engagement or Business Creation project or programme, from 2019 to 2022. Note, the marketed innovation submitted must relate to the work done on the project or programme.
  • All startups that have been through one of our accelerator programmes, where they have now achieved commercial success through the sale of products or services. This includes organisations currently active in our programmes, as well as alumni.
  • Applications from Participants established in Russia or Belorussia, are not eligible to participate in the Challenge.

Judging Criteria

All entries will be evaluated based on:

  • Product or service innovation: The level of innovation within the product / service and your route to market.
  • Strategic impact
  • Commercial impact

Applications will be evaluated by an EIT evaluation panel of 3 members, chaired by the Chief Operating Officer. EIT Food will ensure the absence of conflict of interest of the members of the Evaluation Panel ensuring a fair, transparent evaluation and equal treatment of all entries and participants.

Entries will be evaluated based on (compliance with) the Selection Criteria (as specified above), and on the impact achieved.

All decisions of the evaluation panel will be final and binding on all matters relating to this prize.

The evaluation panel will review all entries, and cross check against publicly available information.

How to submit

To submit your entry, you will need to provide the following information, through the web form here

Your submission will need to include:

  • A brief success story of the innovation (200-300 words), outlining how you brought the product to market and how this relates to the work you have done with EIT Food.
  • Headlines on the scale of the impact, showcasing the customer base you have created, countries where your product or service is available, and growth of your company or associated organisations related to the product or service. Also, how this has changed the agrifood sector, in particular on improving health through diets, improving sustainability, and enhancing trust in food.
  • Evidence that the product or service has generated at least €10k revenue since launch, with evidence of market availability (i.e. links to websites etc where the product is available, press articles, trade shows etc.)
  • The KAVA or programme reference to the engagement you had with EIT which led to this product or service.

Prizes Award

EIT Food will announce the Prize Winners (“Award”), as well as further requirements for receiving the awards.

The Prize Winners will be notified by EIT Food. The Prize Winners shall receive the Prize amount awarded through a bank transfer and subject to the signature of Prize Agreement between the respective Prize Winner and EIT Food.

Prize winners obligations

  • The Prize Winners will have two days, after the communication of their acceptance, to sign (each team member) and send electronically the “MARKETED INNOVATION PRIZE AGREEMENT” with EIT Food (see below).
  • Signature of the Prize Agreement is required to receive the Prize. The prize can only be granted as a full package, and not divided in
  • If the Prize Agreement in this section have been successfully completed , the corresponding prize shall be issued within two weeks to the bank account specified in the entry.
  • The prize winners shall be responsible for all possible taxes, wire transfer costs and other possible costs related to the payment of prize amounts.

Terms and conditions

By submitting your entry, you grant EIT Food the right to share your information with the EIT, and to publicise your success story and impact summary. Note, evidence of your commercial success will not be made public but would be provided to EIT through the confidential reporting process.

You may submit multiple entries and can have multiple entries related to the same project or startup.

By submitting the requested information, Participants represent and warrant that they have all rights, title and/or interest in it and that it is accurate and complete and that by submitting their entry to the Marketed innovation Challenge, they are not and will not be likely to be violating any contract or third-party rights, including any patents, copyright, trade secret, proprietary or confidential information, trademark, publicity or privacy right.

Rules and regulations

By submitting an entry to the “Marketed Innovation Prize” (the “Prize”), you agree to be bound by the following legal terms (“Rules and Regulations”) governing the Challenge managed by EIT Food in with the following Challenge Website

Under all and any circumstances, EIT Food have the right to change the set-up of the Prize or to extent or terminate the Prize before the end of the term of the Prize. Furthermore, EIT Food in all and any circumstances has the right to change any provisions of these Rules & Regulations, and any other terms, policy or guideline governing your use of the website, at any time in its sole discretion. Such changes will be effective upon posting such revisions on the website, and you waive any right to receive specific notice of such changes. You should frequently review these Rules & Regulations and any other applicable rules, policies or guidelines on the Prize webpage.

You agree that these terms and the relationship between you EIT Food shall be governed by the laws of Belgium and that any disputes arising out of your participation in the Challenge shall be submitted to the jurisdiction of the Court of Leuven.

For any inquiry, please contact: prizes@eitfood.eu