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CzechInvest Agency will support 55 startups in the second call of the Technology Incubation project for more than 135 million crowns

02.11. 2023
line-arrow CzechInvest Agency will support 55 startups in the second call of the Technology Incubation project for more than 135 million crowns

196 startups applied for the second call of the Technology Incubation project. As in the first call, innovative projects in the fields of creative industries, artificial intelligence, mobility, ecology and circular economy were eligible to apply for support. In total, up to 55 startups will be supported with over CZK 135 million. CZK.

“The Technology Incubation project is a key step for us in developing the innovation potential of the Czech Republic. By supporting innovative projects with great potential in the fields of EcoTech, artificial intelligence, creative industries and mobility, we are not only thinking about promising entrepreneurs, but also investing in the future and competitiveness of our country. The Technology Incubation project will bring long-term benefits to our economy and help put the Czech Republic on the map of innovation leaders,” says Petr Očko, Director General of the CzechInvest agency.

A total of 521 startups registered for the project’s second pre-incubation call, and 196 of them finally submitted applications during the open call from 18 May to 19 June 2022. The evaluation committee recommended to support a total of 55 startups. Due to the high quality of the submitted projects, it was also decided during the evaluation to increase the planned allocation by CZK 30 million, from CZK 105 million to the current CZK 135 million.

“The increase in financial support by CZK 30 million is an expression of our belief in the need to support innovation for sustainable economic growth and is also related to the large number of high quality projects. We will now work intensively with startups to bring their product to completion. Our future lies in technologies that are applicable across industries and every crown invested in an innovative startup with such potential will pay us back many times over,” says Tereza Kubicová, deputy of the CzechInvest agency for technological development.

The highest number of startups proposed for support under the second call is from artificial intelligence (20) and creative industries (15). This is followed by EcoTech (12) and Mobility (8). Of the 55 startups, 37 will be incubated in the standard mode, where the amount of support reaches up to CZK 1,600,000, while 18 startups will receive higher support in the Incubation Plus mode. Startups recommended for support still have to undergo a final formalities check. Unlike other support programmes, this does not take place until the very end of the evaluation. If a company fails the formal screening, it will not be supported and the final number of selected startups will be lower.

The third call will be launched before the end of the year. The upcoming call will also be addressed to startups in the fields of biotechnology, advanced materials, healthcare or security solutions. All interested startups can now apply for the so called Pre-Incubation, where they will be assigned a consultant who will help the company prepare its application and, if interested, connect it to relevant scientific and commercial partner The area of space technology has been supported by CzechInvest in the same way within the ESA BIC Czech Republic incubator of the European Space Agency for the 7th time.

The Technology Incubation project is implemented with financial support from the state budget through the Ministry of Industry and Trade in The Country for the Future programme and represents a major investment in the future of Czech industry. Over five years, it expects to support more than 250 innovative startups with approximately CZK 680 million in seven key areas.

David Horinek

PR Manager and Spokesperson

+420 724 591 667

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