General details
EDIHs involved
Challenges
SMEs and Europe‘s industry giants are understanding the existential need for digital innovation, the application of high- tech, creating digital business model. They understand the importance of transforming their workforce into drivers of change and stewards of innovation. This shift requires significant upskilling and retraining to meet the demands of the digital era, connecting scientific advancements with business practices to create measurable value through customised programmes.
The Accelerator programme recognizes that these entities need tools and information in order to respond to the rapidly evolving business landscapes. The programme serves as a catalyst for this transformation by addressing key facets of innovation, technology adoption, and workforce evolution. Among the resources utilized are software programmes geared towards data utilization, management, and analysis. Additionally, it provides comprehensive knowledge resources covering branding, sales, marketing, scale-up strategies, digital capabilities, and business modelling. Through these efforts, the Accelerator Programme aims to drive significant transformation in response to evolving business needs.
Solutions
The aim is to support nine start-ups in the internal development of their business model and technologies and to familiarise them with the Austrian ecosystem in these sectors. These include companies, research institutions, clusters and funding agencies. The solution involves providing comprehensive support to nine start-ups, guiding them in the internal development of their business models and technologies. To facilitate this, start-ups undergo workshops and receive individual coaching.
Module 1 concentrates on business modelling and ecosystems, where start-ups engage in two intensive workshops to deepen their understanding of their business model and establish essential contacts. This approach not only streamlines market entry but also enhances the positioning of the start-ups within their industries.
Moving to Module 2, the emphasis shifts to strengthening the brand, focusing on the formulation of a compelling vision, mission, statement and strategy, along with an exploration of online marketing strategies. This holistic approach empowers start-ups to effectively reach their target audience and unlock the full potential of their brand through online marketing.
Finally, Module 3 focuses on refining the sales strategy through a two-day workshop, providing practical insights to optimize the start-ups' sales approach. It features invited sales experts sharing their startup journey insights on scaling up, along with valuable advice on understanding buyer personas, closing deals, and crafting successful offers.
Collectively, these modules construct a comprehensive framework that empowers startups with the requisite tools and knowledge for digital innovation.
The rationale for public investment in providing tools to startups, financed through the European Digital Innovation Hubs (EDIH) budget, lies in the potential for sustainable startups to have a profound and lasting impact on the broader industry in Austria. By equipping startups with the necessary resources and support.
Results and Benefits
This programme provides an environment where start-ups find a dedicated space for learning and an easily get access to vital information. Through a structured framework of workshops and individual coaching, participating start-ups gain valuable insights into the intricacies of business modelling, ecosystem dynamics, brand strengthening, and sales strategy. This dedicated learning space not only imparts theoretical knowledge but also encourages practical application, fostering a hands-on approach to skill development.
The specific modules addressing business modelling, brand strengthening, and sales strategy contribute directly to the economic growth of the involved businesses. The streamlined market entry and enhanced positioning resulting from these modules position the start- ups for success, fostering competitiveness and sustainability. Strengthening brands through vision, mission, and online marketing not only enhances market visibility but also attracts potential investors, further fuelling economic growth.
The accelerator programme goes beyond traditional learning models by providing start-ups with a dynamic and interactive space. It facilitates a continuous exchange of information, enabling start-ups to navigate the complexities of the business landscape with agility and confidence. By offering a dedicated place for learning and information dissemination, the programme empowers start-ups to thrive in an era where knowledge and adaptability are key drivers of success.
The solution has impacted the customer by enabling cross-border cooperation and facilitating access to innovative solutions that were previously out of reach.
Leftshift One, one of the Austrian partners of the EDIH Innovate began a partnership with one of the start ups from the Accelerator programme, which resulted in the implementation of AI in their production facilities. This implementation brings about efficiency improvements and potentially opens avenues for further innovation and optimization within their operations. Additionally, a collaboration between the startup from the Accelerator programme, myco a Czech mushroom startup, has allowed the company HIRSCH Porocell to explore new sustainable packaging solutions, addressing a pressing need for environmentally friendly packaging materials. Specifically, the connection made with myco, has provided HIRSCH Porocell with access to innovative packaging materials based on mushroom packaging technology, which they were previously unaware of.
These partnerships exemplifies the success of cross-international cooperation facilitated by the Accelerator programme. By bringing together companies from different countries and facilitating collaboration between startups and established businesses, the Accelerator fosters innovation and drives progress in various industries. The ability to connect Austrian companies like HIRSCH Porocell with innovative startups such as myco demonstrates the value of the Accelerator in facilitating knowledge exchange, technology transfer, and the adoption of cutting-edge solutions that contribute to sustainable development and industry advancement. Overall, the solution has enabled both the customer and the Accelerator Programme to leverage expertise and resources that were previously inaccessible, thereby driving innovation and fostering growth in the European digital ecosystem.
Perceived social/economic impact
The accelerator programme addresses immediate challenges faced by start-ups and offers significant social and economic benefits.
Socially, it fosters a collaborative ecosystem by facilitating networking opportunities between start-ups, established companies, research institutions, and funding agencies. This interconnected community nurtures knowledge exchange and encourages a culture of innovation and shared expertise.
Economically, the initiative stimulates innovation within SMEs and industry giants, enabling them to embrace digital transformation and high-tech applications. By supporting nine start-ups in internal development, the programme serves as a breeding ground for groundbreaking technologies and novel business approaches. This ripple effect positively impacts the broader industry landscape, making businesses more resilient and adaptive in the face of technological disruptions.
The programme has fostered increased collaboration and innovation by bridging start-ups with established companies, leading to the development and implementation of innovative solutions. For instance, start-ups like Entran50, participating in programs like Elevator, develop solutions that directly benefit Austrian households by reducing energy costs and enhancing affordability.
Participating start-ups gain invaluable insights into business growth and development, such as scaling up, branding, marketing strategies, and digital potential. This empowerment equips them with the tools necessary to navigate competitive markets, driving economic growth and job creation.
Additionally, initiatives fostering environmental sustainability, such as connecting HIRSCH Porocell with Myco for sustainable packaging materials, contribute to reducing carbon footprints and promoting responsible environmental practices within industries.
Measurable data
The implemented solution has yielded has yielded measurable outcomes across several key areas:
Economic Growth of Involved Businesses: Participation in the Elevator program has directly contributed to the economic growth of startups. For instance, Europack Bulgaria secured €65,000 in funding triggered by their involvement in Elevator. Moreover, contacts with potential investors were initiated for several startups during the program's last module, indicating opportunities for further financial support and business expansion.
Enhancement of Market Visibility for Customers: The solution has significantly boosted market visibility for customers through various channels. Startups were featured in newsletters distributed by the program and its partners, widening their audience reach. Additionally, active promotion on social media platforms. Furthermore, startups were showcased at international startup festivals in Graz and Paris, providing exposure to a global audience. Additionally, networking opportunities were facilitated twice with Austrian companies, fostering connections and expanding market reach.
Improvement in Market Entry Efficiency: While not the primary focus, the solution has contributed to enhancing market entry efficiency for startups. Support services such as marketing and branding assistance, digital coaching, and refinement of buyer personas were provided, aiding startups in adapting to evolving business models and refining market strategies. Although most startups already had market entry, programme assistance streamlined their market entry processes and enhanced competitiveness within their industries.
DMA score and results - Stage 0
From the variety of companies served in this case the range of digitalisation level is diverse from 13% the lowest to 49% the highest:
| Company 1 (T0) | 49% |
| Company 2 (T0) | 46% |
| Company 3 (T0) | 29% |
| Company 4 (T0) | 35% |
| Company 5 (T0) | 13% |
| Company 6 (T0) | 33% |
| Company 7 (T0) | 42% |
| Company 8 (T0) | 32% |
| Company 9 (T0) | 41% |
Lessons learned
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One of the lessons learned from the accelerator programme emphasise the nuanced dynamics associated with the diversity of start-ups.
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The diversity of start-ups brought positive dynamics, introducing a range of perspectives, ideas, and approaches that contributed to a vibrant and innovative group.
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However, this diversity also brought challenges, necessitating a flexible and tailored approach to address varying needs.
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The value of more individual coaching sessions was recognized, with personalized guidance significantly enhancing the development of each start-up.
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Concentrating efforts on refining business models and delving into the intricacies of marketing proved to be critical success factors.
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Emphasizing the introduction of start-ups to the Austrian business ecosystem and providing networking opportunities was important and valuable, reinforcing the significance of understanding and navigating the local business landscape.
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The ongoing participation of two out of the nine start-ups in the funding project highlights the lasting connections and opportunities cultivated through the accelerator initiative.