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Check out our Frequently Asked Questions about BIND Industry 4.0 Acceleration Program
Bind 4.0 is led by the Basque Government and its business development agency SPRI. It collaborates with the main industrial companies in the region and is supported by the three Provincial Councils of the Basque Autonomous Community.
The program will be in English, requiring at least one of the team members to have the necessary language skills.
Bind 4.0 is addressed to startups in the industry 4.0 field that have finished their technological development and are ready to finalize their product/service for launch to the market. Early stage and “idea phase” projects will not be accepted into this program.
Yes, applying startups must be legally established, have finished their technological development and be prepared to launch it on the market.
No. Startups from any country can apply for Bind 4.0. The only requirements are to meet the legal requirements to stay In the Basque Country at least during the length of the acceleration program.
- Startups should sign up by filling out the application form.
- In addition, every team will be asked to send a video where founders introduce their startup. Any other attachments that provide additional information (demos, presentation, etc.) may also be considered.
- Application forms must be sent in English.
PHASE 1: Pre-Selection of Startups
- The Coordination Committee will evaluate all the applications and will select the best startups according to the previously defined assessment criteria.
- During this period, potentially eligible teams might be requested to provide additional information.
- The 50 startups with the highest score will pass to the second phase.
PHASE 2: Selection of Finalist Startups
- Partner companies will evaluate the pre-selected startups through “pitching” type interviews according to the previously defined assessment criteria.
- Partner companies will select the finalist startups with the highest scores to move on to Phase 3
PHASE 3: Matching between a partner company and finalist startups for work on a joint project
- During this phase. Finalist Startups and Industry Partners may meet to define the scope of the project and reach a collaboration agreement.
- SPRI will be able to support the finalist startups in order to favor the face-to-face contact between the startups and the partner companies.
- In order to ease the legal terms of the agreement, the Program will facilitate a standard agreement template. However, both sides have full freedom to write other clauses in the contract.
- The Startups that achieve a collaboration agreement with Industry partner companies will join Bind 4.0.
When interviews of Phase 2 are done, the Bind 4.0 team will contact the finalist startups to coordinate the meeting between the startup and the industry partner company so that they can work on the definition and reach of the joint project.
During this phase, meetings between Finalist Startups and interested Partner Companies may happen with the aim to define the scope of the project and reach a collaboration agreement.
In order to ease the legal terms of the agreement, the Program will facilitate a standard agreement template. However, both sides have full freedom to write other clauses in the contract. Startups will have the legal support of the Program to make this agreement.
While the final amount of the project and the conditions of the possible contract to be signed between the partner company and the startup will be agreed by the parties depending on the scope and complexity of their project, the program establishes an indicative minimum of €25,000 (excluding VAT).
Ideally, the main members of every team should be placed at the Bind 4.0 acceleration espace in the Basque Country. If for mobility, espace or business reasons it is not possible for all of them to be there, at least the project leader and the relevant partners will be asked to be present during the acceleration program.
The Program provides financial support to foreign startups in order to support its living expenses during the program. Also, Bind 4.0 helps you to find the perfect accommodation and workspace for your team, so you can focus on what really matters
Bind 4.0 offers high-quality training and guidance provided by outstanding international professionals. The aim of the Bind 4.0 Program is to encourage Startup teams to work on their projects while they are being trained on acceleration issues.
The mentors of the program will coach participants and try to bring out the best in each of them. They are well-regarded international professionals who offer their knowledge, personal experience, and vision, with the goal of helping startups develop more effectively.
The mentoring team will guide the startups in each phase of their business model, marketing strategy, networks, etc., in an effort to obtain financing, investment or new clients.
When the project is finished, the relationship between the startups and partner companies will evolve based on the needs and motivations that may arise between both sides, which they can agree to privately.
If you have any doubt or query, do not hesitate to contact the Bind 4.0 coordination team at firstname.lastname@example.org. We will be happy to help you!
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