Twelve deeptech startups from widening countries join Ventures Thrive venture builder
- ›Twelve deeptech startups from European widening countries were selected for the first Ventures Thrive cohort funded by the European Innovation Council.
- ›Each startup is eligible to receive up to €100,000 in equity-free cash and services, subject to milestones and programme progression.
- ›Startups must produce a Master Plan with Ventures Thrive coaches covering sales, product development, and fundraising and commit to realistic KPIs.
- ›Shortlisted teams pitched at Wolves Summit 2023 where six finalists were chosen to continue in the full programme and others gained exposure and investor connections.
- ›Ventures Thrive is a consortium venture builder led by Acceler8, Wolves Summit, and Anthology Ventures and will deploy €1.5 million across 32 startups over two years.
Twelve startups join the first Ventures Thrive deeptech venture builder cohort
Twelve startups based in Europe have been selected to take part in the first cohort of Ventures Thrive. The programme is a pan-European deeptech venture builder funded by the European Innovation Council. Selected teams will work with appointed coaches to produce bespoke Master Plans and compete at Wolves Summit 2023 for a place in the next phase of the programme. The initiative targets the so called widening countries in Central and Eastern Europe with the aim of narrowing the innovation gap inside the EU.
Who was selected
The 12 startups chosen for the first cohort come from a range of countries that the programme classifies as part of the widening area. They will be offered coaching, exposure to corporates and investors, and access to equity-free cash and services, subject to programme milestones and selection steps.
| Startup | Country |
| Useful Gravity LDA | Portugal |
| Anteja ECG svetovanje d.o.o. | Slovenia |
| EMMA TRIAGE PRIVATE COMPANY | Greece |
| Seasoil biopolymers sp. z.o.o. | Poland |
| Bluana Foods srl | Romania |
| WindTAK sp. z.o.o. | Poland |
| IQ3SOLAR LIMITED | Cyprus |
| Digital Bites I.K.E. | Greece |
| Digital & Legal, s.r.o. | Czechia |
| Biorefic SIA | Latvia |
| Ara Robotik ve Yapay Zeka Teknolojileri | Turkey |
| Avrio Energy Sp. Z.o.o. | Poland |
Selection process and applicant pool
The cohort was selected after an open call launched in January 2023. The call attracted 74 applicants from 20 countries within the widening area. That outcome is presented by the consortium as proof of demand from founders in Central and Eastern Europe. Selected teams now work with Ventures Thrive-appointed coaches to develop a Master Plan and hit program KPIs.
Master Plan, KPIs and what startups will work on
Each selected startup is working with appointed coaches to produce a Master Plan. The Master Plan is intended to be a practical roadmap that focuses on three primary areas. Startups must also commit to realistic KPIs that will be used to monitor progress and determine eligibility for further programme stages and funding.
Wolves Summit 2023 and the Pitch Contest
The cohort’s first public milestone was Wolves Summit 2023 in Wrocław, Poland, held from 23 to 25 May 2023. Ventures Thrive startups who completed a Master Plan were invited to a Pitch Contest on day two of the festival. All participating startups that submitted a Master Plan and pitched received a €5,000 equity-free travel grant to cover attendance costs.
Programme structure, funding and timelines
| Phase | Timing | Key elements |
| Launch and open call | November 2022 to January 2023 | Call for applications targeted widening countries |
| Selection and coaching | Early 2023 | 12 startups selected from 74 applicants. Master Plan development with coaches |
| Wolves Summit Pitch Contest | 23 to 25 May 2023 | Pitch contest, €5,000 travel grant for participants, six teams selected to continue |
| Full Growth Programme | Post-Summit 2023 and into 2024 | Workshops, masterclasses, mentoring, corporate challenges and investor preparation |
| Total programme funding | Over two years | €1,500,000 to be deployed across up to 32 startups in two cohorts. Up to €100,000 available per startup subject to milestones |
Ventures Thrive was launched on 1 November 2022 by a consortium made up of Acceler8 Venture Builder from Malta, Wolves Summit from Poland, and Anthology Ventures from Bulgaria. The programme plans to run two cohorts and to work with some 38 community partner organisations across Europe. The second cohort was planned for early 2024 following a December 2023 call for applications.
What to watch and critical considerations
The Ventures Thrive programme responds to a real policy objective which is to channel support to under represented innovation ecosystems inside Europe. The offer of coaching, corporate matchmaking, and non dilutive support is useful for teams that need market access and mentoring. At the same time there are limits and risks to bear in mind.
First, deeptech development is capital intensive and €100,000 even when combined with services rarely solves scale up funding needs. Startups will need clear paths to follow on financing. Second, 'equity-free' funding removes early dilution but does not prevent later dilution once startups seek venture capital. Third, programme success metrics are not fully public so assessing long term impact will require monitoring hires, revenues, follow on capital and successful pilots. Fourth, visibility at events such as Wolves Summit helps with introductions but does not guarantee customers or investment.
Practical next steps for readers
Startups and partners interested in Ventures Thrive should consult the programme website and the official LinkedIn page for open calls and deadlines. EU funded programmes often post updates through those channels and via community partners. Readers should also treat equity-free offers as one element of a broader fundraising and commercialization strategy.
Disclaimer This account synthesises information released by Ventures Thrive and the European Innovation Council and it is intended for information only. It does not constitute the official view of the European Commission or other agencies involved.