The programme, funded within the framework of INNOSUP, part of the EU's Framework Programme for Research and Innovation Horizon 2020, aims to respond to societal and industrial needs in the landscape of the connected car.
IMPACT Connected Car supports, connects and funds companies with innovative projects in the fields of wireless chargers, cyber security measures against hackers, smart mobility and zero emission transportation. Not only are these developments important for the continued safety and welfare of citizens and infrastructure, but also this market is expected to represent a €141 billion business opportunity by 2020.
The selected startups will enter a three-stage smartization programme and will receive up to €60,000 in equity free funding. Top performing companies will have the opportunity to obtain further funding of up to €200,000 from participating venture capital investors.
As in other IMPACT programmes, the entrepreneurs will have access to an international network of more than a hundred recognised mentors, such as Ken Stewart, CEO of Karma Automotive, and Carintia Martinez, Director of Information Systems at Renault, as well as founders and investors who are experts in different key areas of knowledge, both in the digital sector and in the automotive industry.
With funding of €2.1 million, IMPACT Connected Car aims to boost SMEs and startups innovating and developing smart mobility solutions. The programme provides a direct link between entrepreneurs and large corporations, as well as addresses the fragmentation in the automobile industry, which until now has hindered its digital transformation.