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European Innovation Council
EIC Weekly Media Review
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Highlights
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H1 2024 review - Public programmes key drivers of capital funding - Bpifrance and the EIC
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Sifted | 10/07/2024 | Europe - The first half of the year has come to an end, and Europe’s tech ecosystem is arguably in a better place than it was six months ago. €47.3bn, which includes €18.7bn of debt funding, was injected into Europe’s startups in H1. State funds — Bpifrance, the European Innovation Council (EIC), CDP Venture Capital, CDTI and Scottish Enterprise — were key drivers of capital in H1.
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EIC general news
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Satellite oversight: ensuring Europe’s renewable energy security from above
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Horizon Magazine | 09/07/2024 | Europe - EU-funded researchers are using AI and satellite technologies to make the continent’s renewable energy infrastructure more reliable.
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EIC Pathfinder
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SPACE GARBAGE | A large landfill grows in Earth's orbit
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EUSEURO | 08/07/2024 | Spain - Inactive satellites, remains of propellants, parts of all kind. ETPACK project has developed between 2019 and 2022 a first prototype of the space attack system which is like a backpack - thanks to the European Innovation Council.
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Growth and international recognition for React4Life, an Italian biotech financed with equity crowdfunding
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Crowdfunding Buzz | 08/07/2024 | Italy - React4Life, an Italian biotech scaleup that had raised 600 thousand euros on Crowdfundme, doubles its turnover and obtains international recognition from the EU Commission. As explained by the EIC on LinkedIn, the group of chosen companies, “promoted by the EIC ITF 3.0 Programme, is looking forward to expanding globally”. And participation in BIO 2024 w...
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Pioneering care for preemies – from artificial placentas to brain-healing stem cells
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Horizon Magazine | 11/07/2024 | Germany - Dr Rochow is one of a team of European and international researchers that received a grant through the European Innovation Council (EIC) Pathfinder programme to work on a better alternative – a system they call an artificial placenta, or ArtPlac. The goal is to simulate the conditions of the mother’s womb, potentially reducing complications and improvi...
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EIC Accelerator
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Building tomorrow: Why Europe needs to step up foundational infrastructure tech
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EU Startups | 08/07/2024 | Germany - Foundational infrastructure tech in Europe is growing, as shown by recent funding rounds. An example: Twinsity, a Kassel-based deep tech startup specialising in AI-based infrastructure inspection, which secured €2.5 million from the European Innovation Council Accelerator
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Dynelectro secures €11M for solid-oxide electrolysis technology
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Tech.eu | 11/07/2024 | Denmark - Dynelectro's technology focuses on next-generation solid-oxide electrolysis (SOE), offering unparalleled system performance and longevity. Complemented by €9 million in grants from the European Innovation Council and the Danish Energy Technology Development and Demonstration Program (EUDP), plus other regional programs, Dynelectro will utilise the funds for the development of DEUs from 150-kW prototypes to the commercial-scale fully modular 1-MW units.
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The Cluj startup .lumen wants funding from investors on the Romanian platform Seedblink
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StartUp Cafe | 12/07/2024 | Romania - Founded in 2020, .lumen develops medical devices that can be worn like glasses by the visually impaired and can replace guide dogs at a much lower cost. The device also uses artificial intelligence technologies to help blind people orient themselves independently. dotLumen has received European funding of 9.7 million euros through a European Innovation Council (EIC) Accelerator, as well as a multitude of international awards.
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The 7 biotech companies in Portugal you should know about in 2024
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LABIOTECH | 09/07/2024 | Portugal - Portugal has a rich biotech ecosystem that is rapidly growing, despite sometimes being overlooked compared with other countries in Europe. Operating in both Portugal and France, biotech Limm Therapeutics aims to decode the cross-talk between neurons and immune cells to treat diseases that are caused or mediated by the immune system, including infections, inflammation, and metabolic diseases.
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According to Odaily, Frumtak Ventures, an early-stage investment firm based in Iceland, has successfully oversubscribed its fourth fund, Frumtak IV, raising a total of $84 million.
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Binance Square | 10/07/2024 | Iceland - According to Odaily, Frumtak Ventures, an early-stage investment firm based in Iceland, has successfully oversubscribed its fourth fund, Frumtak IV, raising a total of $84 million. In addition, the company received a €2.5 million (approximately $2.6 million) grant from the European Innovation Council.
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Innovation Fund of Montenegro: two years of success and prosperity
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Vijesti | 09/07/2024 | Montenegro - Since September 2021, when it was registered, the Fund has achieved exceptional results - it has created and implemented ten support programs, and financing of 85 projects worth 2.68 million euros has been approved.. When it comes to international cooperation, one of the most significant results of the Fund is the accreditation of the "Collaborative Grants for Innovation" program by the European Innovation Council (EIC) for the implementation of the Plug-In scheme within the EIC Accelerator program.
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Industrial start-up Limatech inaugurates its lithium battery factory
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Le Journal des Entreprises | 11/07/2024 | France - The lithium battery production start-up Limatech reached a new important milestone in its development with the inauguration of its first production plant in Voreppe, near Grenoble, for an investment totaling 10 million euros. The company is a double France 2030 winner for the “First Factory” and “Batteries” calls for projects, and a winner of the European H2020 program of the EIC.
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EIC Fund
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Endoron wins $10m in Series A to advance AAA repair device
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Medical Device Network | 09/07/2024 | Israel - Endoron Medical has secured $10m in Series A funding to advance its flagship product, the catheter-based EndoStapling solution Aortoseal, through clinical studies. The round was led by Sofinnova Partners, with matching contributions from the European Innovation Council Fund (EIC Fund). This builds on a previously awarded €2.5m ($2.7m) grant by the European Commission under the EIC Accelerator
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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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