Among the beneficiaries, four startups utilized the 'Plug In' scheme, which facilitates direct project submissions from certified national and regional programs to the EIC Accelerator.

Other notable startups include Brineworks, developing seawater electrolysis technology for CO2 and H2 extraction; C2CA Technology, which focuses on upcycling waste concrete; and Deeploy, enhancing machine learning operations with explainable AI.

In a highly competitive funding round, the European Innovation Council (EIC) has selected 71 companies from a pool of 1211 proposals submitted, marking the most successful round to date following the October 2024 cut-off.

Funding for the chosen companies is expected to be disbursed within three months, although investment decisions will depend on the urgency of each company.

Highlighted startups include QDI Systems, specializing in medical imaging devices using quantum dots, and Delft Circuits, which focuses on cabling solutions for the quantum industry.

Further, CarbonX produces sustainable carbon anode materials, VarmX develops solutions for reversing anticoagulation, and Astrape is recognized for its work in integrated photonics for optical networks.

Looking ahead, the next cut-off date for full proposals to the EIC Accelerator is set for March 2025.

These selected startups are set to receive substantial financial support, including grants up to €2.5 million and equity investments ranging from €0.5 million to €15 million, alongside coaching and access to investors.

Innovative projects include Leyden Laboratories, which aims to create broad-spectrum viral protection, and NextKidney, which is innovating portable hemodialysis devices.

Interestingly, 79% of the selected startups will benefit from a blended finance option, while others have chosen to pursue either grants or equity funding exclusively.

Notably, 21% of the selected companies are led by women in executive roles, showcasing a commitment to diversity in leadership.

Additionally, 330 applications received a Seal of Excellence, which aids these companies in seeking alternative funding sources.