Following the call for submissions launched on 13 December last year, 600 European startups entered the second edition of the European Startup Prize for Mobility, with the aim of becoming the European mobility champions of tomorrow. Supported by both the European Parliament and the European Commission, the programme aims to promote European startups developing sustainable, safe and inclusive mobility innovations in Europe and beyond.
Manchester-based Libralato is one the startups shortlisted in the 150, established in 2008, Libralato is an innovation specialist in low carbon vehicle technologies. The company has expertise, knowledge and new concepts for the development of hybrid systems, validated through European Green Cars Initiative and Innovate UK projects.
In the first stage of the selection process, which picked out 150 projects to go on to the next stage of the competition, all 600 candidates were judged three times by a team of over 50 European experts, based on criteria such as economics, innovation and ecological benefit. Among the top 5 countries participating, the Top 150 feature a strong UK contingent with 14 entries and various innovations ranging from a blockchain-powered mobility solution, to a personal travel assistant for people with disabilities, to a sharing travel service app.
“With nearly 100 more applications than last year, the second edition of the European Startup Prize for Mobility is set to be another success and confirms our conviction that Europe must be the continent of innovation, harnessing its talents for a better quality of life for all”, said Karima Delli, President of the Committee on Transport and Tourism at the European Parliament and head of the initiative.
From data used to measure development since the first edition of the prize, we can see a 15% increase in startups participating on a B2B level, that is, 75% of overall entries. Similarly, the gap between service offerings and product offerings is narrowing, reaching 56% and 44% respectively; in fact, a large number of product solutions are integrating software and data innovations for greater impact.
“By moving from a B2C model to a B2B model and from online services to a hybrid model, startups are recognising that they need to be part of a bigger solution by drawing closer to large groups and public players. Cooperation between all these players, which lies at the heart of our initiative, is becoming essential these days and further reinforces the unique place our prize occupies”, explains Joël Hazan, Associate Director at Boston Consulting Group, Fellow of the BCG Henderson Institute and co-founder of the European Startup Prize for Mobility.
Meanwhile, the second edition of the prize has attracted more established startups, both in terms of size and finances. Indeed, 58% of the startups have been active for over 3 years and the average team has 14 employees. With regards to funding, 85% of startups have raised funds and 75% have paid clients.
“This is partly explained by the maturing and expansion of the mobility ecosystem in Europe which promotes startups and accelerate their growth” said Jean-François Dhinaux, Director of Strategy at Via ID, and co-founder of the prize. “The success of this second edition is a strong indicator that the European mobility market is thriving.”