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Technologická Inkubace

CzechInvest: the fifth challenge of the Technology Incubation project will offer start-ups up to CZK 105 million

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30.10. 2024
line-arrow CzechInvest: the fifth challenge of the Technology Incubation project will offer start-ups up to CZK 105 million

CzechInvest, an agency supporting startups in the Czech Republic, is opening another call for the Technology Incubation project. The fifth challenge with an allocation of CZK 104.8 million will be launched at noon on 30 October and will run until 29 October. November 2024. The programme, which supports the startup environment through seven dedicated technology hubs, offers entrepreneurs help with their innovative product or service. Now working with nearly 180 companies out of a planned 250, the project has already moved past its symbolic halfway point.

“Technology incubation is an important activity to support innovation and technology transfer to business. It is both an important signal to the market that the state is interested in the development of new, innovative companies, as well as their financial and expert support. It is also our agency’s contribution to the modernisation of the Czech economy. It is evident from the great interest of companies in the programme and a number of projects that the Czech Republic has considerable technological potential. It is natural that only a fraction of startups will eventually succeed on the market, and I am convinced that they will indeed succeed. I am glad that the programme is well perceived by the public and private sector, as the successful Czech Startup Week last week showed.” says Jan Michal, Director General of the CzechInvest agency.

The aim of Technology Incubation is to kick-start the startup ecosystem in the Czech Republic, also because its domestic investors are willing to invest at a later stage of product or service development. The programme is open to entrepreneurs from across the Czech Republic and focuses on seven key technology areas: artificial intelligence, mobility, creative industries, space technologies, ecology and circular economy, preserving and protecting life or enhancing its comfort (including healthcare, biotechnology and security solutions) and advanced materials.

“As a rule, we receive applications from budding entrepreneurs whose business is still in the early stages of commercial development and is less than 2 years old. It is important that the project is technologically unique, scalable and has a feasible business plan. There is no need to have employees or reported sales at the time of application. We will help with many aspects of the business through indirect support, where innovators and innovators will receive tailored expert advice and mentoring, among other things. All this for up to two years, ” explains Tereza Kubicová, Deputy for Technological Development at the CzechInvest agency.

The added value for startups is close cross-sectoral cooperation across the public, private and academic spheres. Key partners are, for example, innovation centres or universities across the Czech Republic. Subsequently, sectoral cooperation and partnerships are also possible within thematic hubs. Access to the entire startup ecosystem of Technology Incubation is also included. Technology Incubation is the largest initiative for startup support in the history of the Czech Republic with a total allocation of approximately CZK 680 million. The programme is funded from the state budget through the Ministry of Industry and Trade under The Country for the Future programme.

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