Summary of the Grant: The Mastercard Strive EU Innovation Fund is offering €4.5 million in grants to support the growth of small enterprises in Europe. The fund seeks projects that depart from business-as-usual operations and that support the growth of small enterprises. The aim is to fund the development of novel solutions or business model innovations with a focus on small businesses.
Proposed projects must:
- Align with at least one of the four focus themes: embedded finance, cybersecurity, environmental sustainability, and AI.
- Support businesses with fewer than 10 employees.
- Leverage digital and data-first solutions.
- Be implemented in at least one EU market.
- Be at least in the Product Definition stage and ready to demonstrate a more mature phase has been achieved by the end of the project.
- Must not focus on capacity building, such as training or mentorship.
Who can apply: Startups, established companies, nonprofits, and social enterprises within the EU are eligible to apply. Applicants can be single organizations or a consortium of multiple organizations. There is no limit on the size of the applicant organisation, but the applicants must be organisations, that serve fewer than 10 employees.
There are no specific technology requirements for applicants, but digital and data first solutions must be leveraged.
Amount of Funding available for each project: Grants range from €100,000 to €500,000. If applying for €250,000 and above, a minimum of 10% match funding is required. Please see terms and conditions for more information.
Success factors on which the Grants will be judged: In particular, the program is looking for projects that:
- Drive significant improvements in small business resilience and growth.
- Employ a digital delivery mechanism that can scale in a cost-effective way.
- Generate lessons and insights from which other organizations can learn.
Eligible projects should be at least in the Product Definition stage, where the Product Definition stage means scoping and concept phase defining the product strategy. This stage includes business analysis, value proposition, marketing strategy, and set success metrics.
Application deadline: March 11, 2024, at 12.00 midday CET.