Financial support (only for RIS startups)
RIS startups enrolled in the programme can apply for financial assistance of up to 4000 EUR to offset their programme costs.
The money can be used for:
- Travel costs for startup to attend the matchmaking event and visiting the test site.
- Rental of other devices necessary to perform the test.
- Costs to make necessary adjustments at the testing field to perform the test.
Startups should reserve part of the money to reimburse the farmer in the event that (s)he suffers damage caused as a result of the testing. These potential costs should be estimated and set aside up front.
The budget cannot be used for:
- Salaries for company employees.
- Product development, production and improvement (e.g. product elements and materials, research)
- Costs not directly related to the testing of the product/service.
Success fee – If EIT Food succeeds in helping the participating startup to capture new clients and make sales exceeding in total 30 000 EUR gross within 1,5 year from the date of signing the subgranting agreement, the startup will return to EIIT half of the grant (1500 EUR) to support future participants in the validation and promotion of their innovative ideas.