Coming up with an idea for a startup and realising it to reach the status of a scaleup takes meticulous planning and execution. Additionally, deep tech scaleups face their own set of unique challenges, since they are working on a differentiating product offering that leverages sophisticated, hard-to-reproduce digital technologies.
The EIT Digital Challenge 2019 competition organised every year by the leading European accelerator identifies such deep tech innovative scaleups. These exceptional tech scaleups are aimed at bringing about a digital transformation in Europe and EIT Digital promises to provide them with a stable platform to grow and also win prizes worth €750,000, along with a full year of support by the accelerator.
The 25 deep tech finalists of 2019
This year’s top 25 scaleups that made the cut and are moving on to the EIT Digital Challenge finals have been announced. They come from 12 EU countries and are working on services that range from measuring blood sugar levels without finger pricking, to a radiofrequency drone detection technology and a platform that delivers information about mobility behaviour through smartphone sensors.
The finalists were chosen from 279 applicants and on an average, they reached a revenue of €930k in 2018, received €3.9M in funding and employ 32 people. Two scaleups from the Netherlands have also been selected, which are ReaQta, and Wonderflow.
ReaQta offers a platform that is capable of detecting new and previously unknown threats in the cyberspace. These threats range from simple ransomwares to more sophisticated non-malware attacks. The company uses NanoOS that is paired with an AI engine to detect, track and protect previously unknown threats like malware based, non-malware based and in-memory only attacks, all in real-time.
Wonderflow enables companies to extract actionable insights from unstructured consumer feedback data. It collects customer’s feedback from public and private sources in multiple languages and employs its technology that is based on AI and Natural Language Processing for automatic reading and interpretation. It then pulls out actionable insights from the data that are published on the service’s dashboard for easy accessibility.
Meanwhile, let’s also take a look at all the 25 innovative finalists in the 5 categories at the EIT Digital Challenge 2019:
- Blueliv (ES) – Provides cyberthreat intelligence and analysis to mitigate cyber-risk
- LogoGrab (IE) -AI platform for brand management and authentication
- QuoScient (DE) – Fully automated cybersecurity platform to manage operative processes
- R3 (DE) – High-performance wireless technology for mission-critical industrial applications
- ReaQta (NL) – AI powered platform for detection of new and unknown cyberthreats
- DCbrain (FR) – AI software dedicated to exploitation issues of complex networks
- Oculavis (DE) – Remote Service Platform with customizable service apps, AR and AI applications.
- Reliability Solutions (PL) – Software platform for predictive and prescriptive maintenance
- Ubudu (FR) – Real-time locating system which tracks, analyses and detects assets and people in industrial or service sites
- Wonderflow (NL) – Helps brands extract actionable insights from customer feedback
- CERBAIR (FR) – Drone detection and neutralisation via radio frequency
- gridX (DE) – End-to-end IoT solutions for the energy sector
- MOTIONTAG (DE) – Delivers insights through information from smartphone sensors about mobility behaviours
- Orbit GT (BE) – Platform for 3D Mapping to build digital twins of smart cities and buildings
- LORIOT (CH) – Secure and scalable long-range infrastructure provider for IoT
- DiaMonTech (DE) – Allows non-invasive measurement of the blood glucose level
- GWA Hygiene (DE) – IoT system that monitors hand hygiene behaviour to reduce hospital-acquired infections
- SidekickHealth (IS)- Digital therapeutics platform to prevent and manage chronic diseases
- Technologies of Voice Interface (Voiceitt) (IR) – AI speech recognition technology helping people with speech impairments to communicate
- Mecuris (DE) – Platform for customizable and 3D-printed prosthetics and orthotics
- buguroo (ES) – Combats online banking fraud by detecting customer identity theft and manipulation attacks
- CashDirector (PL) – Virtual CFO application based on real-time accounting helping SME owners to manage the cash flow
- Fractal Labs (UK) – API-based payments and insights platform-as-a-service focused on Small-Medium-Enterprise (SME) financial services.
- Minna Technologies (SE) – Subscription management platform for retail banks
- Zelros (FR) – AI and Machine Learning technology, helping insurances increase sales efficiency
The winners of the competition will be chosen in the final event in Brussels on November 6, 2019. As mentioned above, they will compete for prizes worth €750,000. The prize package includes a full year support by the EIT Digital Accelerator in order to grow their businesses in Europe and beyond for the two best companies in each category. Additionally, there’s a cash prize of €50,000 for the first prize winners per category.
So, which scaleup are you rooting for and why do you think it will win the brilliant competition? Let us know your opinions in the comments section below.
For more information, visit EIT Digital Accelerator’s official website.
Image credits: EIT Digital
Stay tuned to Silicon Canals for more European technology news.