As part of the European Innovation Council (EIC) Accelerator Program 2022, the Commission has selected 78 start-ups and SMEs to receive funding of up to 470 million euros.
Depending on their needs, each company receives up to 17.5 million euros in grants and/or participations.
The latter will be done through the EIC fund, which is now “fully operational” having appointed Luxembourg-based Alter Domus as external fund manager to streamline the equity payment process and avoid past delays.
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The selected companies cover 17 EU and EEA countries as well as Israel and the United Kingdom.
Of these, 17% of the startups and SMEs are located in Germany, 14% in the Netherlands and 12% in France and Spain. These countries together make up 53% of the total sample.
Below is a detailed chart of the number of selected companies in each country:
Source: EIC Accelerator
And you can see on the map below that the selected startups are mainly based in western and northern Europe, while the eastern countries in the EU/EEA are not represented at all:
In particular, the sector receiving the most funding from the EIC is healthcare – 51% of the selected companies provide technologies for medical solutions. Other industries include mobility, climate management, energy storage, agriculture, manufacturing and AI.
Here are three notable examples of the finalists:
- Spanish company Inbrain Neuroelectronics develops graphs for the development of neural interfaces to revolutionize the treatment of neurological diseases.
- Based in Estonia, Efenco aims to reduce natural gas demand and CO2 emissions in industrial use by enabling industry to transition to hydrogen with HERC, a novel plasma-enhanced combustion (PAC) technology.
- Energy Dome in Italy is working on a long-life battery energy storage system based on a closed thermodynamic cycle and using CO2 as the working medium. Thanks to the properties of carbon dioxide, the system can store energy efficiently and cost-effectively.
These 78 companies will join the 314 companies selected for funding so far by the European Innovation Council. This will continue to grow as the EIC’s accelerator fund has secured €1.13 billion for 2023.