You are currently viewing The European Innovation Council splashes some cash on another 78 startups

The European Innovation Council splashes some cash on another 78 startups

As share of the 2022 European Innovation Council (EIC) Accelerator program, the Commission selected 78 startups and SMEs to receive up to €470 million in funding.

Reckoning on its wants, every company will withstand €17.5 million in grants and/or equity investments.

The latter shall be made thru the EIC Fund, which is now “fully operational” after appointing Luxembourg-basically based mostly mostly Alter Domus as an external fund supervisor to streamline the equity price course of and have faraway from previous delays.

Ogle the style forward for tech!

Be half of us at TNW Convention June 15 & 16 in Amsterdam

Be half of now

The selected companies span at some level of 17 EU and EEA international locations, with the addition of Israel and the UK.

Among them, 17% of startups and SMEs would be found in Germany, 14% in the Netherlands, and 12% in France and Spain, respectively. These countries mixed intention up fifty three% of the full quite loads of.

Below it is possible you’ll maybe maybe maybe also see an in depth graph of the sequence of companies selected in every nation:

European Innovation Council's Accelerator funding or startups and SMEs in 2022
Provide: EIC Accelerator

And also it is possible you’ll maybe maybe maybe also see on the blueprint below, the chosen startups are largely located in Western and Northern Europe, while Eastern countries in the EU/EEA aren’t represented at all:

European Innovation Council Accelerator funding 2022 for startups and SMEs

Particularly, the field that attracts most funding by the EIC is health — with 51% of the chosen companies offering technologies for clinical solutions. Diverse industries consist of mobility, local climate administration, vitality storage, agriculture, manufacturing, and AI.

Listed below are three indispensable examples of the finalists:

  • Spanish Inbrain Neuroelectronics is engineering graphene for the building of neural interfaces, making an strive for to revolutionize the therapy of neurological diseases.
  • Estonia-basically based mostly mostly Efenco is aiming to chop support natural fuel wants and carbon emissions in industrial usage by enabling the change’s transition to hydrogen with HERC, a fresh plasma-assisted combustion (PAC) technology.
  • Energy Dome in Italy is engaged on a long-duration battery vitality storage system per a closed thermodynamic loop that uses CO2 as working fluid. Thanks to the properties of carbon dioxide, the system can store vitality efficiently and cost successfully.

These 78 companies will join the 314 selected for funding by the European Innovation Council to this level. Here’s certain to develop, because the EIC’s Accelerator fund has secured €1.13 billion for 2023.

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments