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European Innovation Council
EIC Weekly Media Review
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Highlights
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The Ecosystem: building a bridge across the start-up investment gap in central and eastern Europe
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Science|Business | 06/03/2024 | Europe - Investors outside central and eastern Europe have an enduring lack of confidence in the region. “To be brutally frank, we are still seen as the weird child of Europe,” Gajšek said. “We are not the first thought when it comes to investors seeking returns.” These tensions are also apparent to observers outside the HICEE project. For Ana Barjasic, chief executive of Connectology and chair of the European Innovation Council board’s Widening countries working group, start-ups in the region face the same challenges when seeking investment as those from elsewhere. The difference lies in the availability and sophistication of support infrastructure.
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EIC general news
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Unilever and Perfect Day’s animal-free dairy dessert: Is precision fermentation the future of dairy?
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Ingredients Network | 06/03/2024 | Europe - The EU revealed plans to invest €50 million in 2024 to assist startups in scaling up the production of alternative proteins, including precision fermentation technologies. This investment, part of the European Innovation Council’s Work Programme 2024, aims to enhance the sustainability, efficiency, and resilience of the European supply chain by supporting small businesses in the alternative protein sector.
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The rector of the Polytechnic of Bari Francesco Cupertino will be the Italian representative of "Horizon Europe": the appointment by the ministry
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La Reppublica | 02/03/2024 | Italy - The rector of the Polytechnic of Bari Francesco Cupertino has been appointed Italian representative in the Horizon Europe committee, the European program for research and innovation 2021-2027. The appointment was made by the Minister of University and Research, Anna Maria Bernini . In particular, Cupertino will be the Italian delegate in the European Innovation Council (EIC) and European Innovation Ecosystems composition of the committee.
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EIC Transition
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EIC Awards €2.5M Each to 27 Projects Advancing Quantum, Health, Measurement Techs
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BNN | 07/03/2024 | Europe - The European Innovation Council funds 27 projects across the EU, targeting quantum computing and health technologies. A leap towards groundbreaking advancements.
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EIC Accelerator
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European financing for a company from the UMH of Elche Science Park that fights cancer
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Informacion | 04/03/2024 | Spain - The European EIC Accelerator program selects the firm Hawk Biosystems, from the Science Park of the Miguel Hernández University of Elche, among a thousand projects that were presented. The 42 selected companies, five Spanish, will share 285 million euros.
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Gedea Biotech selected for grant funding from the EIC
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Nordic Life Science | 04/03/2024 | Sweden - The European Innovation Council (EIC) has announced that Gedea Biotech has been selected for the EUR 2.5 million EIC Accelerator grant for the continued development and commercialization of pHyph, an antibiotic free treatment for vaginal infections.
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A startup from Elche, among the five Spanish firms chosen in a European acceleration program
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TODOAlicante | 04/03/2024 | Spain - The company Hawk Biosystems, from the UMH Science Park, has been one of the 42 emerging companies chosen in the EIC Accelerator.
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Finland’s SpinDrive raises €2.5 million to advance magnetic bearings with innovative controller technology
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Artic Startup | 05/03/2024 | Finland - Lappeenranta-based SpinDrive has secured €2.5 million in funding from the European Innovation Council (EIC) Accelerator. The company specializes in magnetic bearings and aims to revolutionize the industry with its active magnetic bearings (AMBs) solution, which offers reduced friction, enhanced precision, and the ability to operate in extreme conditions.
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Releaf Paper: Branching out of Ukraine and exploring biowaste beyond fallen leaves
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PackagingInside | 04/03/2024 | Ukraine - Releaf Paper has persevered and expanded its reach to European markets despite facing challenges, such as Russia’s war on Ukraine. Valentyn Frechka, the chief technology officer and co-founder of Releaf Paper, sits down with Packaging Insights to discuss the company’s journey since winning the European Commission’s EIC Accelerator 2022 program and branching out of Ukraine. Frechka discusses the company’s future plans, including scaling up production and exploring new sources of
biowaste for fiber production.
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Ålesund company receives millions in support from the EU
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NyttiUka.no | 04/03/2024 | Norway - Two Norwegian companies are awarded a total of 4.7 million euros in support and offers of equity capital after reaching the top of the EIC Accelerator programme. These are DoMore Diagnostics from Oslo and Ocean Visuals from Ålesund, reports Innovation Norway.
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LuxQuanta raises 2.5 million euros from the European Innovation Council Accelerator
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El Referente | 05/03/2024 | Spain - The deeptech is one of the five Spanish companies that accesses the EIC Accelerator program among 42 projects from 15 countries, chosen from more than a thousand applications received.
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Granter.ia wants to help SMEs access European funds and prepares financing round
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Ardina News | 04/03/2024 | Ireland - Granter.ai has just launched a platform that, through Artificial Intelligence (AI), wants to connect small and medium-sized companies (SMEs) to potential financing opportunities from European funds. The startup is preparing a financing round of 1.5 million, ECO knows. Spain, Germany and Italy are some markets in the sights of national technology.
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With the Israeli model, the development of innovative weapons systems in Greece
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Business Daily | 03/03/2024 | Greece - The Hellenic Innovation Development Center is established by the State and the Superfund to support the development and production of modern weapon systems by Greek companies. The Greek Center will be financed by the National Defense Innovation Fund (with resources coming from at least 1.5% of the equipment program, i.e. 27 million euros per year), the National Defense Development Fund (private investment funds, Venture capitals , 5-10 million euros from the Superfund and private funds) and from EU and NATO funding programs (European RTD programs, EIC Accelerator, Horizon, NATO DIANA Programs, NIF, etc.).
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EIC Fund
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Quantum Disruption: Multiverse Computing Skyrockets Valuation in AI Showdown
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CompsMag | 04/03/2024 | Spain - Quantum software startup Multiverse Computing has secured €25m in funding as it shifts its focus to the AI sector. The company, known for its quantum software tool used by major banks, plans to develop new applications for large language models (LLMs) and expand internationally with this investment. The round, led by Spanish VC Columbus Venture Partners along with Quantonation Ventures, European Innovation Council, and Redstone QAI Quantum Fund, triples Multiverse’s valuation to around €100m. According to CEO Enrique Lizaso, this is the largest funding round raised by a quantum software startup in the EU.
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Powerful Medical Raises €7.5M in Funding
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FinSMEs | 04/03/2024 | Belgium - Powerful Medical, an Aalst, Belgium-based medical device manufacturer, raised €7.5m in funding. The round consisted of a grant of €2.5m and a follow-on investment of €5m from the European Innovation Council (EIC).
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Carthera sees positive results in brain-blood barrier trial
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Zephyr Net | 04/03/2024 | France - Paris-based device company Carthera has announced that its SonoCloud-9 system can help certain drugs pass the brain-blood barrier, as part of positive results from a Phase I/II clinical trial. It also comes after Carthera was able to secure an investment of €37.5m to fund its clinical trial efforts provided by anonymous investors and the European Innovation Council Fund.
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EIC Prizes
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European Commission Announces 2024 iCapital Awards to Reward Innovative Cities
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BNN | 06/03/2024 | Europe - The 2024 iCapital Awards honor innovation in EU cities, with major prizes for winners. Cities leverage tech and governance for societal benefits.
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This is a newsletter from the European Innovation Council and SMEs Executive Agency (EISMEA)
EIC Weekly Media Review is published every Monday.
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The European Commission is committed to personal data protection. Any personal data is processed in line with the Regulation (EU) 2018/1725. Please read the privacy statement.
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