The European Commission (EC) announced on Monday, December 19, that it has selected 78 innovative companies spanning 17 countries under the latest 2022 EIC Accelerator cut-off.
The selected companies are among 1092 applicants who submitted to the last 2022 cut-off on October 5. The 78 companies will join 314 companies selected for funding by the EIC.
15 per cent of the selected companies have female CEOs, informs EIC.
The allocated budget for the EIC Accelerator is around €470M, where the selected companies will receive grants and/or equity investments up to €17.5M each depending on their needs.
The equity investments will be made through EIC Fund, which is fully operational now.
EIC also shared Blended finance (57 per cent) remains the dominant funding type compared to grant first (27 per cent) and ‘grant only’ (16 per cent) options, despite an increase in grant first applications invited to an interview (approximately 35 per cent).
In 2023, the EIC plans to open funding opportunities worth over €1.6B for breakthrough innovators to scale up and create new markets.
Out of it, €1.13B is devoted to the EIC Accelerator funding, with €525M earmarked for next-generation technologies in strategic areas for Europe, including:
- Biomarkers for cancer
- Decontamination for pandemic management
- Energy storage
- New European Bauhaus
- Quantum or semiconductor components
- Resilient agriculture
- Space technologies and services.
EIC Accelerator
The EIC Accelerator programme supports individual Small and Medium Enterprises (SMEs), particularly startups and spin-out companies, to develop and scale ground-breaking innovations.
The programme offers startups and SMEs grants of up to €2.5M combined with equity investments through the EIC Fund ranging from €0.5M to €15M.
In addition, EIC-selected companies also receive coaching, mentoring, access to investors and corporates, and other opportunities.
Since its launch in March 2021, more than 6,500 startups and SMEs have sent their ideas, and over 3,330 have submitted full applications. The next cut-offs for full applications are January 11, 2023, March 22, 2023, June 7, 2023, and October 4, 2023.
We have listed some of the innovative projects and companies from the Netherlands selected in the current cut-off. You can check out the entire list here.
Maeve Aerospace
HQ: Delft
Founder/s: Jan Willem Heinen, Joost Dieben
Recommended finance type: Blended finance
Maeve is based out of YesDelft Incubator on the TU Delft Campus. The Dutch firm is developing an all-electric aircraft featuring 44 seats with an operational range of 550 km (295 NM). The company aims to complete its regional commuter aircraft, Meave 01, by 2029.
Powered by battery technology, Maeve 01 is expected to significantly reduce flight operating costs, maintenance costs, and noise pollution.
Dimenco
HQ: Veldhoven
CEO: Maarten Tobias
Recommended finance type: Blended finance
Dimenco has developed ‘Simulated Reality Display,’ claimed to be the world’s most immersive 3D technology without the need for any wearables.
Simulated Reality is a new form of spatial computing that combines lenticular light-field computer vision, integrated sensors, and image processing algorithms to experience realistic 3D objects in a virtual environment without the need for any wearables.
Leveraging its technology, the company has developed and produced a range of own-brand innovative products in addition to facilitating OEMs.
Protinhi
HQ: Nijmegen
CEO: Bernd van Buuren
Recommended finance type: Blended finance
Protinhi is a preclinical stage biotech company developing novel broad-spectrum antiviral drugs against upcoming viral health threats and diseases. The company focuses on viral infectious diseases, including dengue fever, Zika, WNV, Corona, and Chikungunia.
NC Biomatrix
HQ: Eindhoven
CEO: Dr Ileana Lindeman
Recommended finance type: Grant first
NC Biomatrix provides therapy for intervertebral disc (IVD) degeneration.
The Dutch company offers a novel non-invasive therapy based on injectable viscous gel for restoring the natural biomechanics of the spine and relieving patients from the common cause of lower back pain.
The company does this by injecting a biomaterial (viscous gel based on the matrix produced by notochordal cells found in pig tissue) in the intervertebral disc, restoring function instead of symptom relief, and providing a non-invasive treatment option that does not cost more than the current practice.
Nico.lab
HQ: Amsterdam
CEO: Merel Boers
Recommended finance type: Grant first
Founded in 2015 by a collaboration between Amsterdam UMC and health-tech venture builder NLC, Nico.lab has developed StrokeViewer, a software product that speeds up the diagnosis and treatment of strokes.
Xenikos
HQ: Nijmegen
Founder & CEO: Ypke van Oosterhout
Recommended finance type: Grant first
Xenikos aims to develop a contemporary medicine combining two toxin-loaded anti-T-cell antibodies to help restore patients’ health and save lives.
This novel therapeutic approach helps reset the immune system in patients with severe immune diseases or who have developed post-transplantation rejection.
The Dutch company says a randomised Phase 3 registration trial evaluating its flagship product, T-Guard, the treatment of steroid-refractory acute graft-versus-host disease (SR-aGVHD), is underway in the US and Europe.
Odd.Bot
HQ: Rotterdam
Founder & CEO: Martijn Lukaart
Recommended finance type: Blended finance
Odd.Bot is an innovative startup that focuses on developing robots for weed removal. According to the company, the autonomous mechanical in-row weeding robot can work day and night and even identify weeds in high-density high-value crops to remove these without the use of potentially harmful chemicals.
InPhocal
HQ: Eindhoven
CEO: Robert van Tankeren
Recommended finance type: Grant first
The startup uses a unique laser beam technology to revolutionise laser processing. This technology was originally developed at CERN, the particle research institute in Switzerland. Among other industries, the chip industry is benefiting from this technology, claims the company.
Saia Agrobotics
HQ: Eindhoven
CEO: Dr. Ruud Barth
Recommended finance type: Blended Finance
SAIA (Sowing Artificial Intelligence in Agriculture) Agrobotics, a spin-off of Wageningen University & Research (WUR), specialises in developing robotics technology to support human activities in greenhouse horticulture.
The company has developed autonomous indoor farming to offer improved food security and healthy meals for everyone globally.
iOnctura
HQ: Amsterdam
CEO: Catherine Pickering
Recommended finance type: Blended Finance
iOnctura is a clinical-stage biotech developing selective cancer therapies against targets that play critical roles in multiple tumour survival pathways, such as cellular proliferation, escape from immune detection, and drug resistance.
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