Through Challenge Comes Opportunity: How the 2018 EU Startup Summit Brought Challenges to Entrepreneurs

During the Fireside chat at last week’s EU Startup Summit in Barcelona, Ricardo Ciccone co-founder and CEO said that entrepreneurs are always faced with challenges, and that if they are not, then they should worry. The challenges Ricardo spoke about are those that are commonly known and experience by startup founders, such as financing issues challenges and growth, and breaking through barriers. It is no surprise that the life of an entrepreneur is filled with challenges, both personal and professional. It is also no secret that navigating through these challenges – and building resilience – is often the determinant factor in how successful an entrepreneur will be in their endeavors.   

While the EU Startup Summit addressed these challenges in a number of speeches, interviews and presentations given by leading founders in the startup ecosystem, the EU startup Summit also brought a different type of challenge to Startup founders – a challenge to solve real-world problems able to develop their product or service and in real market conditions.

From challenge comes opportunity. During the Summit, I had the opportunity and great pleasure to encounter one challenge that are sure to bring opportunity to startups seeking to grow, gain experience and market traction, as they set out to conquer challenges in pursuit of business success. 

EDI-logo300h-web  European Data Incubator – Solve a Real-World Challenge

With a €5 Million fund and the goal of boosting big data business generation, the European Data Incubator (EDI) is a business incubator that offers a dedicated acceleration program for data-driven startups and SMEs that provides up to €100K in equity free funding for EU based startups and SMEs.

The European Data Incubator (EDI) challenges data-driven startups and SMEs to provide innovative solutions to data analysis faced in the following industries:

  • Energy & Environment
  • Cross Sector
  • Internet & Media
  • Smart Cities
  • Retail
  • Industry 4.0

The specific challenges the EDI calls on startups and SMEs to address are the following:

  • Discovery of Cross-Sector Related Data
  • Quality Control of Weather Observation Data
  • Temporal Pattern Recognition in Searches on the Web
  • Sentimental Analysis in Consumer Journey
  • Agenda Settings from the Media Industry
  • Improving the Road Safety in Barcelona
  • Optimization of Traffic Flow in Berlin
  • Supply Chain Optimization
  • HVAC Usage Management and Control Optimization
  • Thermal Power Plant Smart Management
  • Predictive Maintenance Models for Industrial Robots in Body Shop
  • System for Detection of Anomalies in Smart Meters
  • Prevent Fraud in Cashier Operations
  • New Pricing Bundles for Drivers in Porto

Besides equity-free funding, selected participants in the EDI will receive a free cloud environment for scalable data processing, data from major providers, free business services to boost their growth, and a network of data specialists.

Are you ready to face EDI’s challenge? If so, you are in luck because applications are currently open now until June 27th, 2018. If you are up to the challenge – don’t miss the opportunity!

The views expressed in this article do not constitute legal advice and legal information provided in this post should not be relied upon as legal advice. Please contact an Attorney for advice on your specific matter.

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