What is the aim of the Worldwide Innovation Challenge?
This contest wants to achieve a couple of goals. The first one is to boost Innovation in France, by giving to the country a broader exposure in innovation and technology. Second, it strives to attract talents, entrepreneurs and risk-takers from all over the world.
This challenge can finance projects in 7 key fields (energy storage, heavy metal recycling, marine resources valorization, vegetable protein and vegetal chemistry, individualized medicine, silver economy, big data operation valorization).
Project initiators, including foreign companies that wish to apply to the WIC can be of foreign nationality. Moreover, it is not compulsory that the firm exists the day the application is submitted. However, the project has to be developed and executed in France. The WIC can be broken into 3 stages
Worldwide Innovation Challenge unwrapping:
1st stage (seed or start-up): for the first 100 appointees (out of 900-1000 applicants); up to 200k€ in subsidies. The date to the opening for the next round of this phase are not yet known but is supposed to be end of the current civil year.
2nd stage (support/Risk reduction): for 30 appointees, up to 2 M€ in subsidies. This phase is open as from 2nd, December 2016 and will be closing 15th, February 2017.
3rd stage (development): for 7 appointee(s), up to 20M€ subsidies. A select number of Phase 2, projects will be given support for mass-production during the third phase, which will open in 2016.
Therefore, this contest can be likened to a corporate subsidy in France: moreover, it can be accumultated with the research tax credit and the statut JEI Young Innovative Status and if any, with employment and innovation subsidies.
This unwrapping can be summarized as follows
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