SPEEDUP
About – EU-MED Hubs to Accelerate SMEs Sustainable and Competitive Growth
The SPEEDUP project addresses key challenges faced by startups and innovative SMEs in the Mediterranean region, such as insufficient funding, lack of cooperation, and limited access to capacity-building opportunities. By establishing a network of local hubs, the project will provide mentoring, training, and organizational services to disadvantaged and unemployed individuals, helping them launch sustainable, competitive businesses. The project focuses on fostering growth through the Green and Circular Economy, and environmental, social, and governance (ESG) principles, ensuring inclusivity and sustainability in its support for entrepreneurship and innovation across the Mediterranean region. It will work in Cyprus, Egypt, Greece, Jordan, Lebanon Spain and Tunisia.
 |
Impact
Why SPEEDUP Matters
Withdrawal of investors from the US is the main cause of a general reduction of funds for the Mediterranean startups. In addition to this, there are a general still insufficient cooperation between key actors, together with a lack of organized structures – e.g., incubators and acceleration services. This results in startups and innovations SMEs facing difficulties with fundings and availability of opportunities for staff’s capacity building, particularly as barriers to their growth, scale-up potential and sustainability.
Another key factor affecting startups and innovation SMEs development, is the environmental sustainability, which requires adopting quality-based operation measures within a system of continuous monitoring and review of processes. Therefore, the project will address these critical gaps in the Mediterranean innovation ecosystem.
Goals
What SPEEDUP Aims to Achieve
Create a transnational network of accelerating hubs to create and test acceleration programmes.
Enhance SMEs’ growth and competitiveness.
Outcomes
Expected Change after SPEEDUP
Network
Create a network of 21 local hubs across the Mediterranean to offer mentoring, training, and resources for innovative startups and SMEs.
Cooperation
Strengthened cooperation between local innovation ecosystems to boost sustainability, competitiveness, and adoption of ESG principles, including green and circular economy practices.
Model for SMEs
Developed and validated a flexible model to accelerate SME growth, sustainability, and attract investment, ensuring long-term impact and regional replicability.
Activities
What SPEEDUP Delivers
Networking
A transnational network of 7 main local hubs connected to implement the SPEEDUP acceleration initiative.
Acceleration Program
Development of an acceleration program to support mentoring, select potential startups/SMEs for piloting, and promote project objectives.
Piloting
Coordination of piloting by hubs in project countries, involving a total of 210 potential startups/SMEs.
Support
Support for 140 new or existing SMEs participating in the piloting, helping them initiate their sustainable activities across the project countries.
Who
Who Benefits from SPEEDUP
7 local public authorities (municipalities, provinces, districts, and their staff)
2 regional public authorities
Higher education/research organizations (universities, research institutions, and Technology Transfer Offices)
210 prospective startups and innovative SMEs across various sectors
35 Business Support Organizations
Numbers
SPEEDUP in Numbers
 |
2.8M
|
 |
89%
|
 |
7
|
 |
7
|