European Innovation Council to fund 78 more startups
As part of the European Innovation Council (EIC) Accelerator Program for 2022, the European Commission will Selected 78 startups and SMEs will receive up to €470 million in funding.
Depending on their needs, each company will receive grants and/or equity investments of up to €17.5 million.
The latter is nowfull operationafter the Luxembourg-based appointment Alter Domus As an external fund manager to streamline and avoid the equity payment process past delays.
The companies selected span 17 EU and EEA countries, in addition to Israel and the UK.
Among them, 17% of startups and SMEs are located in Germany, 14% in the Netherlands and 12% in France and Spain. Together these countries account for 53% of the total selection.
Below is a detailed graph of the number of companies selected for each country.
As you can see from the map below, the selected startups are mainly located in the West and North. Europethe eastern countries of the EU/EEA are not represented at all.
Notably, the sector in which EIC has attracted the most funding is health, with 51% of the companies selected providing technology for medical solutions. Other industries include mobility, climate management, energy storage, agriculture, manufacturing and AI.
Here are three notable examples of finalists:
- Spanish brain neuroelectronics designed graphene for the development of neural interfaces, aiming to revolutionize the treatment of neurological disorders.
- estonia base Efenco aims to reduce the need for natural gas and carbon emissions in industrial applications by enabling the industry’s transition to hydrogen with its new Plasma Assisted Combustion (PAC) technology, HERC. .
- energy dome is working on a long-term battery energy storage system based on a thermodynamic closed loop using CO2 as the working fluid. Thanks to the properties of carbon dioxide, the system can store energy efficiently and cost-effectively.
These 78 companies join the 314 companies so far selected for funding by the European Innovation Council. With the EIC’s accelerator funding secured, this should grow. €1.13 billion Towards 2023.
https://thenextweb.com/news/european-innovation-council-splashes-cash-on-another-78-startups European Innovation Council to fund 78 more startups