Wolves Summit News

EIC Accelerator – €285 million funding in deep-tech start-ups in most competitive funding round

Written by WS Team | Mar 1, 2024 11:54:49 AM

A new set of 42 companies has been selected to receive European Innovation Council (EIC)
funding, combining grants and equity, following the final 2023 EIC Accelerator cut-off in November.


The 42 selected companies will together receive up to €285 million in funding. A large majority of
selected companies (62%) will receive the blended finance option, which is a combination of grants
and equity investments. The equity investments will be made through the EIC Fund as the
dedicated investment fund for EIC Accelerator companies, and which attracts other investors to
increase the overall investment to over three times the EIC investment on average. The selected
companies have a geographical spread spanning 15 countries, including three widening countries.


Here are some examples of innovative companies that will receive support:


Alias Robotics (Spain) – the next generation robot-specific AI-powered security platform
IQM Finland (Finland) - industrial-grade quantum computers with error correction and mitigation
capabilities
Powerful medical (Slovakia) – application for more accurate heart attack diagnosis
Smart Farm Robotix  (Bulgaria) - fully autonomous solar-powered lightweight weeding robot, using
AI for plant recognition, precision contact and contactless weeding methods suited for hard soils,
hilly terrains, and arid climates.




https://eic.ec.europa.eu/news/eic-accelerator-eu285-million-funding-deep-tech-start-ups-most-
competitive-funding-round-2024-02-28_en

 

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