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Published on | 3 months ago
Programmes EICThe European Innovation Council (EIC) selected 68 companies for funding, combining grants and equity, following the first in 2024 EIC Accelerator cut-off in March.
The companies were selected in a highly competitive process. From a total of 969 companies that submitted a full proposal, 347 companies were interviewed by juries of experienced investors and entrepreneurs. The jury then selected the 68 best companies to receive funding. The selected companies have a geographical spread spanning 17 countries. Together, the selected companies will receive an estimated €411 million in funding, of which up to €165 million in grants and an estimated €245 million in equity.
Among the selected companies is Pharrowtech, based in Leuven (https://pharrowtech.com/). Pharrowtech spun out of IMEC and designs and develops mmWave radio frequency technology for next-generation wireless applications.
More information in the European Innovation Council's news article.
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Avia-GIS is a Belgian innovative SME established in 2001. They have built research and public authority trust over the past 19 years and developed a unique, disruptive software suite - VECMAP® - that supports society to overcome one of its important health threats, the spreading of Pests of Public Health importance.
With the help of a Horizon 2020 SME Instrument Phase 2 project, they will be able to add Integrated Pest Management functionalities and go to the market. With the grant, that was an essential component of their second investment round, Avia-GIS aims at raising its revenue from the current 2 M€ to 14.2 M€ in 2024, and increase the headcount from 15 to 58.
