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European Innovation Council
EIC Weekly Media Review
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Highlights
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Europe needs a strong and strategic research budget, says EU commissioner
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Science|Business | 26/03/2024 | Europe - In an interview with Science|Business, Iliana Ivanova outlines her goals for the rest of her term, where Europe stands in the global technology race - and the need to discuss if dual use military/civilian research should feature in FP10. The Commission is planning to launch an accelerator scheme in 2025 to support companies in Widening countries in accessing the EIC. Several other pilot initiatives under the Widening are to be announced in the coming months, under revised 2023-2024 work programmes, but Ivanova could not give any details at this stage.
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Women TechEU launches with €12 million in equity-free grants for women founders in deep tech
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Business Today | 28/03/2024 | Europe - The second edition of Women TechEU, an EU-funded project supporting women leading deep tech startup companies from Europe has been launched and opened its first call for application. The project launched during the European Innovation Council (EIC) Summit held during R&I week Brussels between 18 and 22nd March. Several prominent attendees visited the project’s stand, including the EU Commissioner for Innovation, Research, Culture, Education and Youth, Iliana Ivanova.
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EIC Board
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TNW Podcast: Ukrainian startups, European quantum tech, Michiel Scheffer on the future of the EIC
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TNW | 27/03/2024 | Europe - Welcome to the new episode of the TNW Podcast — the show where we discuss the latest developments in the European technology ecosystem and feature interviews with some of the most interesting people in the industry. In today’s episode, Linnea, Tom (!), and Andrii talk about Ukrainian startups, drones, information security, European quantum landscape, reverse brain drain, and a lot more. The guest of the show is Michiel Scheffer, President of the Board of the European Innovation Council.
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EIC general news
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Minister Stoycheva: The knowledge economy develops on the basis of human talent
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3E News | 28/03/2024 | Bulgaria - "As a result of our actions in the last nine months, Bulgaria managed to present its entrepreneurial ecosystem as one of the most dynamic. Proof of this is that, within just 6 months, three Bulgarian companies that started in Bulgaria were selected and presented at the "Innovation and Science Week" forum in Brussels, where the projects of the European Innovation Council were presented," said the M. Stoycheva Minister of Innovation and growth.
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EU sets out plan to simplify biotech regulation and speed up approvals
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Science|Business | Europe | 26/03/2024 - The Commission is promising to review its Bioeconomy Strategy by the end of 2025, which could include a stronger industrial dimension. To help companies scale up, the Commission will advocate for the inclusion of specific challenges on biotech and biomanufacturing in the European Innovation Council (EIC) accelerator work programme for 2025. “Europe cannot remain only a fantastic cradle of ideas for the rest of the world. What is born here should also have the opportunity to grow here,” Vestager said.
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CorPower Ocean joins EIC Scaling Club’s community
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Offshore Energy | 29/03/2024 | Sweden - Swedish company CorPower Ocean has been chosen to join the EIC Scaling Club, an EU-backed community of 100+ European high-growth deep-tech champions and their partners.
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Fundraising: how to (well) finance deeptech?
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Maddyness | 27/03/2024 | Europe - Europe has chosen to finance Deeptech projects and startups thanks to a continuum of financing and investment - EIC Pathfinder, EIC Transition and EIC Accelerator - dedicated but more broadly through the mechanisms offered in the framework of Horizon Europe programme.
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EIC Pathfinder
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Swedish School of Textiles researchers break new ground in textile technology
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University of Boras | 27/03/2024 | Sweden - The new Stelec project, funded by the EIC Pathfinder funding programme, enables basic research in textile technology. These include major technological breakthroughs in three areas to make e-textiles more sustainable.
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EIC Accelerator
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15 Spanish startups to watch from outside Barcelona and Madrid
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Sifted | 01/04/2024 | Spain - The Basque Country, Valencia and Málaga are showing innovation can flourish far from Spain’s two biggest tech hubs. Sherpa is an AI startup that develops conversational digital assistants. Since its launch in 2013, Sherpa has raised about $32m, with Madrid-based VC firm Mundi Ventures as its main backer — including a €1.4m European Innovation Council grant.
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Wind power: Greenov’s prototype underwater noise membrane tested in Saint-Nazaire
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Mer et Maritime | 26/03/2024 | France - On March 21, the Greenov company presented the prototype of its SubSea Quieter technology (“sea silencer”) installed in Saint-Nazaire. An inflated membrane that attenuates underwater noise from maritime works by introducing a layer of air to preserve marine fauna, while consuming less energy than traditional bubble curtains. A sign of the interest aroused by SSQ in pile driving, in addition to the support of Ademe and the European LIFE and EIC Accelerator programs, three major players in offshore wind power, EDF Renewables, TotalEnergies and Equinor, are coming to sign a Joint industrial partnership (JIP) with Greenov to accelerate the development of the system.
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Mbryonics awarded €17.5 million from European Innovation Council
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Advertiser.ie | 28/03/2024 | Ireland - Galway based space tech company Mbryonics have announced that they have been approved for a recommended investment of €17.5m from the European Innovation Council (EIC ) Accelerator. The €17.5 million investment will allow the company establish a significant manufacturing, assembly, and testing facility for optics and photonics in the west of Ireland over the next five years.
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NeuroClues: detect neurological disorders before the first symptoms
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Challenges | 27/03/2024 | France - NeuroClues' mission is to empower clinicians with biomarkers that allow them to identify neurological disorders (Parkinson's disease, Alzheimer's disease and multiple sclerosis) years before visible symptoms appear. This start-up is part of the “100 start-ups to invest in 2024” selection by Challenges. Since its birth in spring 2020, Neuroclues has progressed at a gallop: it completed a first round of funding (2.5 million), was accelerated and financed by the European Innovation Council (for the same amount) and won 2, 2 million in public aid.
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Tafalgie Therapeutics: an alternative painkiller to opioids
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Challenges | 27/03/2024 | France - Tafalgie Therapeutics is developing a new generation of pain-relieving peptides without the disabling side effects of opioids. This start-up is part of the “100 start-ups to invest in 2024” selection by Challenges. The Marseille start-up, winner in 2023 of the prestigious grant from the European Innovation Council, needs new funds. “2026 will be a crucial year for us."
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Quantum computing: the French startup racing against US tech giants
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Sifted | 02/04/2024 | France - In the increasingly competitive world of quantum computing, Paris-based startup Pasqal is starting to make a name for itself. Governments are showing a strategic interest in its potentially revolutionary technology: it’s so far raised $140m from investors including the European Innovation Council, Singaporean sovereign wealth fund Temasek, France’s state bank Bpifrance and its Ministry of Defence.
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The Baltics’ fastest-growing startup teams
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Sifted | 02/04/2024 | Baltic Countries - Startups and scaleups across Estonia, Lithuania and Latvia have grown in employee headcount despite the economic odds — here's how. Elcogen in Tallin is a manufacturer of clean energy technology that delivers affordable green hydrogen and emission-free electricity. It develops and manufactures solid oxide electrolyser cells which are used to produce green hydrogen, and solid oxide fuel cells which convert hydrogen into electricity. The startup received funding from the European Innovation Council and UK-based HydrogenOne Capital Growth.
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Business on fallen leaves: how Ukrainian startup Releaf Paper is changing the European environmental industry
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IT Community | 29/03/2024 | Ukraine - In 2020, the Ukrainian startup Releaf Paper became a real breakthrough in the field of eco-innovation. A young company has created a formula for paper made from fallen leaves. It all started with the scientific work of schoolboy Valentin Frechka. And it has grown into a business that launches production in France and other EU countries. The eco-startup received a grant from Google and won the EIC Accelerator 2022 program from the European Commission. The team collaborates with L'Oréal, Chanel, BNP Paribas, LVMH and Logitech.
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Rethinking wind power’s towers and turbines
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Horizon Magazine | 25/03/2024 | Sweden - At first glance, the wind-turbine tower that rises from the green landscape in the Swedish municipality of Skara looks like any other. It reaches a height of 105 metres and, at the top, supports a familiar trio of big rotating blades. But unlike most wind-turbine towers, which are made of steel, this one is wooden. It represents the first commercial installation by Swedish engineering company Modvion – and it could point to the future of wind energy.
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EIC Fund
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Companies reinforce computer security in the face of the development of quantum computing
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Activos | 01/04/2024 | Spain - The Spanish company Multiverse prepares 'Lobotomizer' due to the need to protect algorithms and information in an environment of geopolitical uncertainty. In recent months, it has achieved several milestones: it has won the Future Unicorn 2024 award from DigitalEuropa and has closed an investment round of 25 million with contributions from Quantonation Ventures , the European Innovation Council Fund, Redstone QAI Quantum Fund and Indi Partners.
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The European Commission is investing in an AI semiconductor manufacturer
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okosipar.hu | 28/03/2024 | Hungary - The European Innovation Council (EIC) Fund entered into the 20 million dollar financing round of NeuReality Ltd., a semiconductor manufacturing startup dealing with artificial intelligence. The newly raised capital is expected to accelerate the rollout of the company's NR1 AI Inference Solution to even more customers. With this latest investment, in which EIC also became a part, NeuReality's total funding jumped to $70 million.
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Airborne Wind Energy developer Kitemill prepares for 24hour operation and multi-device demonstrations
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EV Wind | 01/04/2024 | Norway - Norwegian Airborne Wind Energy developer Kitemill is preparing its technology for 24-hour continuous flights followed by multi-device demonstrations, marking a significant breakthrough for the industry. Later in the year, Kitemill unveiled plans for its first commercial scale system, KM2. The ground-breaking technology is set to feature in the €7.5m Norse Airborne Wind Energy Project (NAWEP), backed by the EU Innovation Fund, with a total of 12 KM2 units due for installation.
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Events
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EU-Startups Summit Celebrates 10th Anniversary in Malta
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ITKey Media | 27/03/2024 | Malta - 10th Annual EU-Startup Summit in Malta welcomes all founders, investors, and all the startup people. The date is May 9-10th, and the place is Mediterranean Conference Center in Valletta. Panel discussions, keynote speeches, and fireside chats from top-tier ecosystem players await, as well as the Summit’s signature live startup pitches with valuable prizes. Among the speakers: Bart Becks, Board Member at European Innovation Council.
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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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