In a highly competitive selection round, the European Innovation Council (EIC) has chosen 78 high-potential start-ups and SMEs to receive up to €470 million in funding. This funding is a blend of grants and equity investments, aimed at fostering groundbreaking projects across Europe. The selected companies stood out from over 1,000 applicants, with 240 making it to the interview stage, judged by experienced investors and entrepreneurs.
Diverse funding and support
Each selected company will receive tailored financial support, with up to €17.5 million available through grants and equity investments via the fully operational EIC Fund. Blended finance is the dominant funding type, reflecting the diverse needs of innovative enterprises. Companies from 17 countries have been selected, with 15% led by female CEOs, showcasing a commitment to diversity and inclusion in innovation.
Noteworthy projects
Here are a few standout projects:
- AT-001 (Arctic Therapeutics, Iceland): Recognized for its innovative approach to Alzheimer’s treatment, Arctic Therapeutics received funding to advance the development of AT-001, aiming to provide effective and personalized neurological therapies.
- Egnite (Inbrain Neurelectronics SL, Spain): This project is developing graphene-based neural implants that leverage AI to read single neural cells, detect therapy-specific biomarkers, and enhance outcomes in personalized neurological therapies.
- Releaf Paper (Releaf Paper SAS, France): This initiative focuses on sustainable production using leaves-based fiber technology.
- CO2 Battery (Energy Dome SPA, Italy): A long-duration energy storage system utilizing a closed thermodynamic loop with CO2 as the working fluid, offering efficient and cost-effective energy storage.
- Maeve 01 (Maeve Aerospace B.V.): The first electric commuter aircraft capable of carrying 44 passengers over 550 km, representing a significant step forward in sustainable aviation.
Supporting innovation
Since its inception in March 2021, the EIC Accelerator has received over 6,500 ideas, with more than 3,330 full applications submitted.
Read the original press release here.
