Check out the Frequently Asked Questions
BIND 4.0 Open Innovation
& Startup Acceleration Program
FAQ
Check out our Frequently Asked Questions about BIND 4.0 Acceleration Program
BIND 4.0 is a public-private initiative, an open innovation platform that provides targeted business services and creates mutually beneficial collaborations between disruptive startups and innovative corporations. BIND 4.0 has an annual startup acceleration program aimed at startups with tech products or services that solve relevant problems in the digital transformation of Intelligent Industry, Clean Energy & Sustainability, Health and Food Industries. Additionally, our Open Innovation platform provides services to large companies in their digital transformation journey.
Yes and More. Acceleration is just one of the many services BIND 4.0 offers in support of the digital transformation of Industry. With 6 editions completed so far, our highly successful program connects promising Industry 4.0 startups with leading Intelligent Industry, Clean Energy & Sustainability, Health and Food companies offering contracts worth up to €150,000. Your company retains all equity and participation is free. We provide training, support services, networking opportunities, access to public funding and private investors plus high impact mentoring, and a real use project to implement your solutions, all in 24 weeks.
The BIND 4.0 Open Innovation platform connects dynamic startup teams with well-established industry leaders, to provide external solutions for their internal digital transformation challenges. BIND 4.0 facilitates the outsourcing of R&D & Innovation to young startups specialized in emerging technologies. This is a win-win approach by leveraging the expertise and agility of startups with the experience and resources of corporate companies.
The Venture Client approach means large companies, like our 80+ Corporate Clients, invest in startup teams by contracting them for real Industry 4.0 projects. This is a zero equity approach to investing by allowing the startup to maintain ownership of their company and get important reference customers as they implement and scale their solutions. Startups and Corporates alike get real benefits and results.
We accept Startups from all over the world proposing the use of new technologies which can be applied to the Industry, Energy & Sustainability, Health and Food sectors. The technologies of interest expands each year but some of the main areas are: AI, IIOT, Collaborative Robotics, AR/VR, Vision Systems, Big Data & Advanced Analytics, Cybersecurity, Nanotech, New Materials, Additive Manufacturing, Smart Energy, Clean Tech, Biobased Solutions, Positioning Systems, and many more. If your company has completed product development or recently launched a solution based on Industry 4.0 technologies, you’re ready to take the next step and join BIND 4.0.
BIND 4.0 is designed and funded by the Basque Government and the Department of Economic Development, Sustainability and Environment through the business development agency SPRI Group. In collaboration with the main industrial companies in the region acting as Venture Clients and supported by the HAZI Foundation and the three Provincial Councils of the Basque Autonomous Community.
Nothing. The Venture Client companies pay for the development of your project and you will not be asked to exchange equity nor pay any fees for your participation, thanks to the public-private model we’ve developed.
This is where the Venture Client model comes in, the collaborating companies that partner with BIND 4.0 are constantly searching for new concepts, innovative ideas and early-stage startups that can contribute to their Industry 4.0 challenges. Collaborating companies profit by connecting with the best entrepreneurial talent in the world and also by developing innovative projects with controlled risks and costs.
The program is in English, requiring at least one of the team members to have the necessary language skills.
Early stage and “idea phase” projects will not be accepted into this program. BIND 4.0 is addressed to startups in the Industry 4.0 field that have finished their technological development and are ready to launch their product/service on the market.
Yes, Startups must be legally established, have finished their technological development and be prepared to launch on the market or have recently entered the marketplace.
No. Startups from any country can apply for and participate in BIND 4.0. The 2023 Edition is a hybrid online and in-person program with some dates required to attend in person. Startup teams will need to send one team member to the required events hosted in the Basque Country, Spain in order to participate.
- Startups register by filling out the application form, active July 7 – Sept 8, 2022
- Every team will be asked to send a video where founders introduce their startup. Other attachments that provide additional information (demos, presentations, etc.) may also be considered.
- Apply via the “Apply” link at www.bind40.com
The participating startups are chosen by our 70 Corporate Venture Client companies looking to collaborate and implement new technologies. Be sure to review the profiles on our Venture Clients page to get familiar with the needs of the industry and see if your solutions are a fit. Startups that pass the selection process and reach a collaboration agreement and then sign a contract with at least one of the venture client companies will join BIND 4.0.
The Selection process is divided into three phases:
PHASE 1: Pre-Selection of Startups
- The Coordination Committee will evaluate all the applications and select the startups that best match the previously defined assessment criteria and technologies desired
- 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
- The Venture Client companies will evaluate the pre-selected startups through “pitching” type interviews according to the previously defined assessment criteria
- The Venture Client companies will select the finalist startups with the highest scores to move on to Phase 3
PHASE 3: Matching between a Venture Client Partner Company and Finalist Startups to work on a joint project
- During this phase Finalist Startups and our Venture Client Partners will meet to define the scope of the Industry 4.0 project, reach a collaboration agreement and determine the scope of a contract
- In order to ease the legal terms of the agreement, BIND 4.0 will facilitate a standard contract template. However, both sides have full freedom to write additional clauses in the contract and establish the terms of their working relationship.
- The Startups that receive a contract with one or more of our Venture Client Industry Partner companies will join BIND 4.0
Key dates for the 7th Edition of the BIND 4.0 Program
- International Call for Applicants / July 7 2022
- Registration Deadline / September 8 2022
- Startup Selection Process / September – December 2022
- Acceleration Program Kickoff / February 1, 2023
- Acceleration & I4.0 Project Development / February – June 2023
- Demo Day Innovation Showcase / July 6 2023
After closing the pre-selection process in October, BIND 4.0 will contact the selected applicants to coordinate the Interviews of the second phase. The applicants who have not been selected will also be informed of the results.
When interviews of Phase 2 are complete, the BIND 4.0 team will contact the finalists to coordinate a meeting between the startup and the venture client / industry partner company so that they can work on the definition and scope of the joint project to be carried out during the 24-week acceleration cycle.
The Venture Client / Corporate Partner companies will propose to each selected Startup the chance to develop a real Industry 4.0 project. During this phase, there will be meetings between Finalist Startups and interested Venture Client Companies with the goal of defining the scope of the project and reaching a collaboration agreement / contract. In order to ease the legal terms of the agreement, the BIND 4.0 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 venture client 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).
Only the Venture Client selection jury and competition managers will have access to the documents of each startup. All documents will be securely protected from any unauthorized access.
The 2023 Edition is a hybrid online and in-person program with some dates required to attend in person. Startup teams will need to send one team member to the required events hosted in the Basque Country, Spain, in order to participate. All events take place in the Madrid CET/CEST time zone.
BIND 4.0 encourages participating startups to spend as much time as possible in the Basque Country, Spain, with the aim of promoting their immersion and development in the local Ecosystem. To learn more about the reasons to invest in this region, visit our Basque Industry 4.0 Ecosystem page for key business and industry figures.
BIND 4.0 offers high-quality training and guidance provided by exemplary professionals with a wide range of experience in collaboration, sales, investment, scale-up and professional development. The goal of the training program is to support Startup teams with business development and acceleration issues while they are working on their Industry 4.0 collaborative projects.
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 companies develop and evolve more effectively. The mentoring team will guide participating startups in each phase of their business model, marketing strategy, networks, etc. in an effort to obtain financing, investment or new clients.
It absolutely can. When the project is finished, the relationship between the startups and venture client companies will evolve based on the needs and motivations that may arise between both sides, which they can agree to privately. We are proud to say that 50% of BIND 4.0 Startups retain their contract one year after their participation in our 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.
The 2023 Edition is a hybrid online and in-person program with some dates required to attend in person. Startup teams will need to send one team member to the required events hosted in the Basque Country, Spain in order to participate.
We hold the Best of BIND 4.0 Demo Day event at the beginning of July each year. It is an Innovation Showcase to share the results of the collaborative Industry 4.0 projects developed during the acceleration cycle. Investors, Corporate Companies, Startups and Industry Influencers attend to see what exciting technologies are being implemented, it’s a great networking opportunity providing visibility and credibility to each Startup.
Key dates: 7th Edition Demo Day July 6 2023
For more information and to check out the last Demo Day event visit: https://bind40.com/
If you have any questions or comments, don’t hesitate to contact the BIND 4.0 coordination team at info@bind40.com. We’re happy to help you!
Be sure to check out our Terms & Conditions
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