| Project Detail |
Urban Sports Club (USC), a German Sportstech scale-up, has developed a digital platform that provides access to fitness studios, sports classes, wellness and health activities in an extensive network of partner facilities all in one membership. The project aims primarily to support the Company in stepping up their technology and product development capabilities, notably in Germany and Spain, where USC plans to set-up an important Tech hub.
Additionality and Impact
The operation is in line with the InvestEU objectives of research development and innovation, the eligible area as per Annex II of the InvestEU Regulation is:
1. The development, deployment and scaling-up of digital technologies and services, especially digital technologies and services, including media, online service platforms and secure digital communication, that contribute to the objectives of the Digital Europe Programme, in particular through:
(a) Artificial intelligence ;
(c) Cybersecurity ;
(f) Advanced digital skills;
(i) Other advanced digital technologies and services.
The funding of this project eases financial constraints for innovative and high-growth companies which arise from information asymmetries and of the market potential of their innovation.
The project would not have been carried out (to the same extent) by the EIB without the InvestEU support.
Objectives
The project aims primarily to support the Company in stepping up their technology and product development capabilities, notably in Germany and Spain. A sizable investment effort (1/3) is expected to take place in Valencia, Spain, qualified as cohesion region, to support the set-up a local Technology Hub.
Sector(s)
Services - Information and communication
Proposed EIB finance (Approximate amount)
EUR 40 million
Total cost (Approximate amount)
EUR 90 million |
