€331 million in equity into European deep-tech companies through the European Innovation Council Fund
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The European Innovation Council Fund (EIC Fund) has achieved remarkable progress, as it is now fully operational and has taken 42 new investment decisions into deep-tech companies since the last announcement in November 2022.?
A total of €331 million has been invested so far and 13 companies have already signed their agreements.?
These are pioneering companies that are poised to bring breakthrough innovations to citizens and businesses: a new type of computer vision software and robotics technologies for orthopaedic surgeons; visual search technologies for businesses and industry applications; breast self-reconstruction with patients' own tissue; innovative photonics; improved food production with reduced emissions; and a first miniaturised universal gas analyser for all renewable gases.
Since last September, the EIC Fund has taken a total of 77 investment decisions for deep-tech companies, worth over €521 million, supporting them to bring their innovative technologies to market and scale up in strategic areas for Europe.?
With equity investments ranging from €500,000 to €15 million per company (more in justified cases), the EIC Accelerator grant also offers financing of up to €2.5 million - so far, 269 out of 378 selected companies have already signed their grant agreements.?
Striving to meet the target set by the EIC Board to sign the grant agreements with selected companies within 4-5 months, the EIC is already reaching its goals!