Tag Archive: EIT Urban Mobility

  1. Who are the biggest mobility startup investors in Europe?

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    Source: Zag Daily

    Via ID and Dealroom.co. have published a new report on European Mobility startup investment called ‘State of European Mobility Startups 2023’, ranking EIT Urban Mobility, Bpifrance & the European Innovation Council as the three leading investors.

    The report looks at the European mobility startup fundraising environment against the backdrop of a globally declining venture capital market. It reveals that in 2023, European mobility startups secured funding of $9 billion, which was a 26% decrease from 2022.

    There is also positive news for the mobility sector, in that it is still listed as the third most funded industry in Europe. EIT Urban Mobility’s Director of Impact Ventures, Fredrik Hanell told Zag Daily that they had invested in over 100 startups in 1000 days.

    EIT Urban Mobility is an initiative formed by the European Institute of Innovation and Technology (EIT). EIT believes that there are various reasons for 2023’s decline in start-up funding, including market saturation, investors being more cautious after a brisk post-pandemic expansion, macroeconomic uncertainties, micromobility regulatory challenges, and a shift in consumer preferences may have also played a part in investor confidence declining.

    Even with numerous challenges, EIT will continue to push forward with its investment in the mobility sector.

    “Cities are looking for these solutions that bring a positive impact,” said Hanell. “By leveraging emerging technologies, forging strategic partnerships, and addressing evolving consumer needs, mobility startups can position themselves for success in an increasingly competitive landscape that goes beyond Europe. We believe this is where the landscape for mobility is going.”

    Mobility investment breakdown

    In 2023 E-mobility companies with a focus on EV batteries, EV charging and infrastructure shone brightly, with these start-up companies receiving the most funding, securing over 50% of total investment for the mobility sector.

    Hannell predicts that alternative mobility start-ups will have a surge in popularity this year.

    “Startups focusing on electric two-wheelers, e-motorcycles, and e-scooters are poised to attract attention as micromobility solutions continue to gain traction,” he said. “And following this logic, in 2024 I believe that initiatives aimed at extending battery life, especially of light vehicles, promoting battery swapping, and enhancing sustainability are likely to drive investment.”

    “Looking ahead, the future of mobility startups in Europe will likely be shaped by several key factors. The continued growth of electric vehicles, advancements in autonomous technology, and the rise of shared mobility services are expected to drive innovation and investment in the sector.”

  2. Funding for Urban Mobility Startups – Scale-Up Programme

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    Source: EIT Urban Mobility

    Since January 2019, EIT Urban Mobility have been actively encouraging people to readdress the way in which they move around cities, with a vision to make our cities a better place to live. As an initiative of the European Institute of Innovation and Technology (EIT), a significant amount of funding to support a new campaign named the Scale-up Programme is already in place.  

    The Scale-Up Programme is a quest to identify the 12 most promising urban mobility startups.  The successful startups will receive funding and partnership opportunities to further progress their campaigns. This will include invites to notable European events where they can meet possible funders and secure partnership prospects.  Applications for the initiative are active until 12th June 2022.

    Two different paths are on offer from the EIT to benefit the startups. The aforementioned networking opportunities at prominent events are available to five of the successful startups, valued at 25.000€. The second route includes all of the first, plus pilot schemes with city partners with funding figures of 50.000€ by EIT Urban Mobility. In application for the second path, the startups will gain support from public authorities and organisations who have identified restrictive issues in top European cities.

    The Scale-up Programme is led by CARNET in accordance with PowerHub, Fraunhofer Society for the Advancement of Applied Research, UnternehmerTUM, Technische Universität Braunschweig, Niedersächsisches Forschungszentrum Fahrzeugtechnik (NFF), Digital Hub Logistics Hamburg and the City of Hamburg, Xpreneurs and UnternehmerTUM Digital Hub Mobility.

    The startups must conform to a few select guidelines, the most important of which is the product’s status. It requires technical readiness ((TRL) of 7-9) and maturity in order to be implemented into any pilot schemes. The cities are essentially used as workshops to demonstrate how people, cargo and waste can be moved around in a more ethical manner, so the products have a wonderful opportunity to be showcased.

    More information on the Scale-up Programme, the challenges faced and programme applications can be found here: https://www.eiturbanmobility.eu/business-creation/scale-up-programme/

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