European Innovation Council

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In this issue
Highlights
Commission appoints Michiel Scheffer as president of European Innovation Council board (Science Business | Europe)
The European Commission has appointed Michiel Scheffer as president of the European Innovation Council (EIC) board, as the EU scale-up fund continues to experience delays in getting its funding instruments fully operational.
 
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40% of companies in first 2023 EIC Accelerator are female led (Tech.eu | Europe)
The European Innovation Council has announced 32 companies have been selected to receive European Innovation Council (EIC) funding in equity and grant funding of which 40% percent have a female CEO, CTO or CSO.
 
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Founders had to wait ‘far too long’ for EIC Fund cash, admits chair (Sifted | Europe)
Europe’s most active deeptech investor, the European Innovation Council (EIC) Fund, kept founders waiting “far too long for money” but is now on track to clear its backlog by the end of the year, the EIC’s outgoing chair says.
 
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EIC general news
Investors predict Europe's next unicorns at Tech Tour Growth (Tech.eu | Europe)
The European Innovation Council (EIC) is pivotal to the event, playing a significant role in achieving the EU’s deep tech innovation ambitions. It comes with a budget of over EUR 10 billion under the EU Horizon Europe programme and a mission to identify, support and scale up deep tech innovation.
 
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Bulgaria to grant 60 mln euro to back innovative MSMEs (SeeNews | Bulgaria)
Bulgaria will allocate EU-backed funding of 118.5 million levs ($66.1 million/60.6 million euro) to support growth at local micro, small and medium-sized enterprises (MSMEs) developing high-risk emerging technologies, products and services, the innovation and growth ministry said.
 
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European Innovation Council Info Day in Cyprus (Cyprus Mail | Cyprus)
The Research and Innovation Foundation (Idek) recently organised a two-day information day aimed at highlighting the funding opportunities offered by the European Innovation Council through the Framework Programme for Research and Innovation of the European Commission, known as “Horizon Europe”.
 
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Czech-based start-up network looks across borders to grow a transnational innovation ecosystem (Science Business | Europe)
A start-up network connecting three border regions in Czechia, Poland and Slovakia is hoping that its bottom-up approach can help a local - yet transnational - innovation ecosystem to thrive.
 
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HANNOVER MESSE features over 300 startups (Process and Control Today | United Kingdom)
More than 300 startups at HANNOVER MESSE highlight their diversity and innovative strengths. Featuring remarks by Stephane Ouaki, Head of the European Innovation Council and SMEs Executive Agency.
 
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1st edition of the European Prize for Humanitarian Innovation is open to nominations (Science Business | Europe)
The prize will be awarded to organisations and companies that are developing technology to deliver better quality humanitarian assistance to vulnerable people affected by crises and natural hazards.
 
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European Capital of Innovation Awards: 2023 edition kicks off (Publicnow.com)
The Commission ​launched the ninth edition of the European Capital of Innovation Awards (iCapital). The prize is awarded to European cities that are front-runners of innovations that benefit their citizens.
 
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The Ecosystem: business schools unite across borders to address Europe’s scale-up gap (Science Business | Europe)
Europe has a scale-up problem, with too many promising start-ups failing to grow and realise their full potential. EU policy has recently mobilised to address this gap, and other players are now responding by internationalising their efforts.
 
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Over 230 million euros were won by the finalists of Wolves Summit over 5 years - Another meeting in May (Wroclaw | Poland)
The Summit will take place from 23 to 25 May and will host representatives of Invest Hong Kong, Google, European Innovation Council, European Innovation Fund, Microsoft and SODA.
 
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EIC Board
EIC Board wants to facilitate use of its Accelerator platform (Agence Europe | Europe)
In a statement issued on Wednesday 5 April, the European Innovation Council (EIC) Board of Directors welcomed the intention of the European Commission and EISMEA to improve the platform for applicants for European support under the EIC Accelerator to submit their business plans.
 
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EIC Accelerator
EIC selects 32 European startups for its Accelerator programme; 7 are from the Netherlands (Silicon Canals | Europe)
On Wednesday, the European Innovation Council (EIC) announced the selection of a new set of 32 companies to receive funding under the EIC Accelerator programme.
 
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Ireland ranks second in EU accelerator winning €22.4m (Silicon Republic | Ireland)
Three Irish companies will receive a total of €22.4m in funding after being chosen by a competitive EU accelerator programme. Versono Medical, Nemysis Ltd and Technology From Ideas Ltd were among the successful companies, with only 32 funding awards granted out of 476 submitted applications.
 
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Deep Render renders even deeper with a fresh $9 million (Tech.eu | Europe)
Angling to get out of the lab and into the market, Deep Render’s new streaming capital arrives via a Series A round led by IP Group and Pentech Ventures to the tune of $6.3 million, and a grant from the European Innovation Council at $2.7 million.
 
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Smart Immune receives €2.5m grant and €15m equity investment commitment from the European Innovation Council (EIC) via the EIC Accelerator (Globenewswire.com)
Smart Immune SAS announced today that it has been selected by the European Innovation Council (EIC) to receive funding of €17.5 million to accelerate the development of ProTcell to treat life-threatening cancers and infection.
 
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DORUCON secures 2.5 million euros in EIC Accelerator for Avelios Medical (Pressebox | Germany)
With the help of the management consultancy DORUCON - DR. RUPP CONSULTING GmbH, Avelios Medical GmbH has succeeded in asserting itself in the highly competitive European funding program for groundbreaking innovations, the EIC Accelerator now the company is receiving funding of 2.5 million euros from Brussels.
 
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Vaultree Achieves Google Cloud Ready - AlloyDB Designation (Businesswire.com)
Vaultree, the Data-In-Use Encryption leader, today announced that it has successfully achieved Google Cloud Ready. This milestone follows Vaultree's successful $12.8 million series A funding round, selection as the only Irish recipient of the European Innovation Council (EIC) grant and the appointment of renowned tech industry veteran Rinki Sethi to its executive board of directors.
 
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Finland’s CurifyLabs awarded €2.5 million from European Innovation Council (Tech.eu | Europe)
The funding from the European Innovation Council (EIC) Accelerator programme will further CurifyLabs' MiniLab technology which allows pharmacies compound drugs in-house.
 
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Samplix Garners €10M in Funding From European Innovation Council (Genomeweb.com)
Danish biotechnology firm Samplix said on Thursday that it has been awarded a €2.5 million ($2.7 million) grant, as well as a €7.5 million equity investment, from the European Innovation Council to support the development of its microfluidics platform.
 
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Thuringian technology soon at airports worldwide? Jena start-up develops fingerprint scanners (BILD | Germany)
The start-up "IDloop" from Jena, founded in 2021, has developed the contactless fingerprint scanner. The EU has recognized this potential and is funding the further development of the "IDloop" invention until it is ready for the market with 10 million euros from the pot of the European Innovation Council (EIC).
 
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VorteX-io secures €2.5 million to create Europe's first flood and drought forecasting service (La Tribune | France)
The Toulouse startup VorteX-io has just won a European grant of 2.5 million euros which will soon be supplemented by a fundraising of one million to set up 3,000 microstations on rivers over the next three years.
 
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28 million invested in startups in March (Repubblica.it | Italy)
Newronika, an innovative SME active in the development of systems for brain stimulation, has signed a 2.5 million euro grant agreement with the European Innovation Council (EIC) Accelerator.
 
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268.3 million euros raised this week by French startups (MaddyMoney | France)
Smart Immune receives a grant of 2.5 million euros as well as a capital investment commitment of 15 million euros from the European Innovation Council (EIC), via the EIC Accelerator.
 
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Herantis Pharma has signed European Innovation Council (EIC) Accelerator grant agreement (Publicnow.com)
Herantis will receive €2.5 million grant funding and is eligible for up to €15 million in direct equity investments from the EIC Fund.
 
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AcouSort AB - Annual Report 2022 (Publicnow.com)
“On the innovation side, we received a large grant from the European Innovation Council (EIC) to develop enabling technology for exosome-based diagnostics, a field with great potential for AcouSort.”
 
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EIC Pathfinder
44 high-risk, cutting-edge research projects will receive €167 million in EU funding (Agence Europe | Europe)
The European Commission announced, on Monday 3 April, that 44 projects had been selected in the framework of the European Innovation Council (EIC) “Pathfinder Challenges” 2022 call.
 
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European Innovation Council Awards Grant for Brain-Computer Interface Tech (Odtmag.com)
Under the EIC Pathfinder funding program, the Council bestowed a €3.7 million grant to ONWARD and its research partners, including EPFL and CEA-Clinatec.
 
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EIC Fund
Semiconductors: SiPearl, the rising French start-up (Les Echos | France)
The French SiPearl has announced that it has raised €90m in a successful Series A funding round. This envelope includes a pocket of convertible bonds of up to €25 million provided by the European Investment Bank, as well as the €15 million granted by the European Innovation Council (EIC) last July.
 
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Ireland’s Bluedrop Medical raises €10.5 million investment creating 25 new jobs this year (Tech.eu | Europe)
The round was co-led by Atlantic Bridge and Elkstone, and includes the European Innovation Council Fund, Furthr VC, Western Development Commission, Ascentifi, and HBAN’s MedTech and Irrus Investments syndicates.
 
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Eight digit total for Berlin Startup Enote (Businessinsider | Germany)
The investors betting on the Berlin startup Enote include Dieter von Holtzbrinck Ventures (DvH Ventures), the fund of the European Innovation Council (EIC-Fonds) and the Family Office Rudolf Fuchs. The European Innovation Council (EIC) already supported Enote with a two million euro grant at the end of 2021.
 
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GrayMatters Health Receives Investment from European Innovation Council EIC Fund (Mental Health Weekly Digest)
GrayMatters Health (GMH) announced that the European Innovation Council (EIC) Fund, following the September 2022 grant from EIC of two and a half million euros, has expanded its involvement in the company and is now investing in GMH, with the European Investment Bank (EIB) acting as the investment advisor to the EIC Fund.
 
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CrayoNano AS: Contemplated private placement of approximately NOK 100 – 150 million (Marketscreener.com)
CrayoNano has entered into a term sheet with the European Innovation Council ("EIC") Fund where they have pre-committed to subscribe for Offer Shares for an amount of up to the NOK equivalent of EUR 5 million at the subscription price per Offer Share in the Private Placement (the "Offer Price") subject to certain terms and conditions being fulfilled.
 
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This is a newsletter from the European Innovation Council and SMEs Executive Agency (EISMEA) published twice a month.

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