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IMPACT Connected Car Launches €2.1 million equity-free funding for SMEs

16 October 2017
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IMPACT Connected Car sets out to support, connect and fund companies that offer to disrupt the emerging market of the connected car, expected to reach €141 Billion globally by 2020. 

Wireless electric charging, hacker-protected cars, smart driving and zero-emission transport are some of the innovative concepts brought forward by pioneering companies who have been preselected to join the initiative. In the next couple of years, over 60 SMEs and startups will join the IMPACT Connected Car program and receive up to €60,000 equity free as well as expert mentoring and support. Top performing companies will have the opportunity to receive additional private funding of up to €200,000 from prominent venture capital funds 

IMPACT Accelerator launches the first call of IMPACT Connected Car, a new program led by FundingBox and ISDI

Over the next five years, the connected car is expected to disrupt the entire automotive ecosystem and the consumer market. 220 Million cars are expected to be connected by 2020, representing a €141 Billion business opportunity. With a fund of €2.1 million, IMPACT Connected Car will help SMEs (small to medium enterprises) and startups to capture this business opportunity. It will identify companies that will lead the creation of new value link-chains in the Connected Car OpenSpace, with vehicle, infrastructure and device interactions as well as consumer and business services. 

IMPACT Connected Car is funded by the European Commission, under the INNOSUP Initiative. It builds on the legacy and expertise of the IMPACT Accelerator, which invested over €7 million in 78 startups from 2014 to 2017. IMPACT has recently been named among the global top ten in Gust's Global Accelerator Report, after evaluating 579 programs from five continents, and has been selected as the number two seed accelerator in the European Accelerator Report.

The current open call will be receiving applications from connected car startups and SMEs until January 10th, 2018. During this period numerous infodays will be organised across Europe, as well as online, in order to give applicants a deeper understanding of the programme and the application process. 

By March 2018, the best 13 companies will be selected to enter the 3-stage smartization programme, upon the completion of which they will receive up to €60,000 equity free funding. Top performing startups will have the opportunity to receive additional private funding of up to €200,000 from participating venture capital funds.

Further details at https://www.clustercollaboration.eu/news/impact-connected-car-launches-its-first-open-call-eu21-million-equity-free