SCALING

DEEP TECH
IN EUROPE

THE EUROPEAN
INNOVATION COUNCIL
IMPACT REPORT 2025
DISCLAIMER
Scaling Deep Tech in Europe - European Innovation Council - Impact Report 2025

EISMEA - European Innovation Council and SMEs Executive Agency

B- 1210 Brussels
SCALING DEEP TECH
IN EUROPE
Manuscript completed in March 2025

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necessarily reflect the views of the European Commission.
More information on the European Union is available on the internet [ http://europa.eu ]. EUROPEAN INNOVATION
COUNCIL
Luxembourg: Publications Office of the European Union, 2025

Catalogue number ISBN DOI

EN PDF EA-01-25-076-EN-N 978-92-9412-149-3 10.2826/1391424 IMPACT REPORT 2025
© European Union, 2025

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 COMMISSIONER’S FOREWORD
This Impact Report shines a spotlight funds, but also public investment
on the EIC’s achievements so far and banks and others – who collectively
highlights its vital role in supporting represent over EUR 100 billion
Europe’s next generation of high of assets. These investors have
risk and disruptive innovations, at committed to working with the EIC
all stages of maturity. Its impact to help companies grow in Europe.
ranges from generating a pipeline
of over 1 350 unique innovations, to These developments have not come
supporting over 700 startups and a moment too soon. In the coming
SMEs across 30 countries, crowding months the members of the College
in over EUR 2.6 billion of additional including myself will work with
investment and leveraging over 3 Member States and the Parliament
euros of investment for every euro to define the future EU budget
we invest through the EIC. The extent and its priorities. We must channel
of cross-border investment within our resources to meet common
Europe, and the growing cohort challenges where taxpayers’ money
of co-investors, demonstrate the brings the highest added value.
value of the funding leverage made President von der Leyen made clear
Ekaterina ZAHARIEVA possible by the EIC’s networks. in her Political Guidelines and in my
European Commissioner for Startups, Research and Innovation mission letter that a key step in this
Still, too many of Europe’s most
promising technology companies journey will be to expand the EIC. My
are acquired or relocated outside first months as Commissioner have
Europe, mainly due to a lack of only strengthened my resolve to
large financing rounds. But work do so. The forthcoming EU Startup
is underway to change this. The and Scaleup Strategy will be a key
EIC’s Strategic Technologies for milestone, making it simpler, cheaper
The recent reports by Mario Draghi, Enrico Letta and Manuel Europe Platform (STEP) will provide and faster for European startups to
Heitor send a clear message: Europe needs to increase its investments of up to EUR 30 grow.
million, which in turn will catalyse
competitiveness and achieve technological sovereignty At these crucial moments for
investment rounds above EUR 100 Europe’s future, I invite you to
in key sectors of the economy. The European Innovation million, with the aim of scaling up reflect on the EIC’s achievements
Council (EIC) is crucial in this and has already proved to be critical technology companies in as we strive to build on this success.
digital, biotech and clean tech. In an uncertain world, I believe an
a game-changer.
Furthermore, with the establishment expanded EIC is key to our future
of the Trusted Investors Network, we competitiveness and strategic
have assembled a cohort of over autonomy in critical technologies.
100 investors from across Europe
– mainly private venture capital
 TABLE OF CONTENTS
1 4

3
5
 1. EXECUTIVE SUMMARY Supported the best innovators, male and female, from all European countries:

■ 30% women led companies supported in 2024 (female CEO/CTO/CSO);

This report provides an overview of the impacts delivered by the innovators funded by the
European Innovation Council (EIC), a EUR 10 billion programme of the European Union ■ EIC supported start-ups and SMEs in 30 countries; and
launched in 2021 to identify, support and scale-up breakthrough technologies and deep- ■ Over 20% female research project coordinators and participants in 2024.
tech start-ups.

It focuses on the Horizon Europe EIC portfolio of over 700 start-ups, 400 advanced research
projects, and 180 translation projects funded in the period 2021-24 inclusive. The report also
Looking back over a longer time period of the extended EIC
assesses the longer-term impacts of an “extended EIC portfolio”, which includes projects
portfolio, key impacts include:
and companies funded under the Pilot phase of the EIC with ca. 800 start-ups and SMEs
from 2018 to 2020 and 400 technology projects from 2014 to 2020.
■ Investments of over EUR 1 billion into 272 unique companies with
Since its launch in 2021, the EIC has allocated over EUR 6 billion in support and: over EUR 2.6 billion of additional investment mobilised since the
launch of the EIC Fund in 2020;
Established the EIC Fund as one of the largest deep tech investors in Europe with:

■ Over 150 completed investment rounds in start-ups and SMEs including over 60 ■ Companies averaging over 50% employment growth and 55%
in 2024; revenue growth in the two years following EIC support;
■ Over EUR 1.6 billion in co-investment from other, primarily private investors,
■ 80% of equity investments catalysed by the EIC involve a
corresponding to over EUR 3 of additional investment for each EURO of direct
non-domestic investor with a majority of these seeing flows of
investment through the EIC Fund;
investment across Europe/countries associated to the programme;
■ Investments alongside over 600 VCs, corporates and strategic investors, including
the 25 largest VCs in Europe; and ■ Portfolio companies attracting over EUR 12 billion of additional
■ A Trusted Investor Network (TIN) with over 100 investors, to accelerator investments, primarily from venture capital, with a prevalence of
co-investments and build a deep tech investor community. cross border capital;

■ Over 70 companies achieving ‘centaur’ valuations (above EUR 100

million), including six with a valuation above EUR 500 million;
Built leading portfolios of start-ups and technologies in all the critical technology
areas identified for Europe’s future competitiveness and economic security, including: ■ Over 1 350 unique innovations from EIC Pathfinder and Transition
projects, with 75% assessed as market creating or targeting an
■ EUR 850 million for quantum and semiconductors – contributing to the Chips Act; emerging market;
■ EUR 725 million for developing or applying artificial intelligence;
■ Over 100 start-ups established or in the process of being
■ EUR 700 million for energy generation and storage solutions;
established to commercialise results of EIC Pathfinder and Transition
■ EUR 625 million for biotechnology and biomanufacturing in areas including projects; and
industrial biotechnology, agrifood biotech and healthcare biotech; and
■ EUR 500 million for advanced materials; ■ 1 000 EIC companies and projects matched to corporates,
procurers and potential investors resulting in over 230 signed deals.
■ EUR 300 million for space technologies

8 9
 The European Innovation Council (EIC) Support from the EIC also goes beyond
is a flagship initiative of the European funding. The EIC fosters an innovative
Commission striving to turn disruptive ecosystem that supports companies

2
European science into groundbreaking and projects with tailor-made Business
commercial propositions and accelerate Acceleration Services, including to find
the scale- up of game-changing opportunities with large corporates,
innovations. specialist infrastructures, and access to
public procurement, to help increase the
With a budget of over EUR 10 billion
impact and likelihood of market entry and
under the Horizon Europe Programme
scaling of EIC funded innovations.
(2021 – 2027), it seeks to position Europe as
a global leader in the current wave of deep The EIC has also developed a model of

THE
tech innovation: innovation that is rooted Programme Management, informed by
in cutting edge science, technology and best practice elsewhere including ARPA
engineering. in the US. The approach leverages the

EUROPEAN The EIC provides integrated support at

scientific background, understanding of
markets and networks of the Programme

INNOVATION
all stages of technological maturity for
Managers to enable the EIC to both
innovators across Europe and looks to
identify emerging trends and inform future
ensure that we turn excellent European

COUNCIL AT
activities. This has resulted in a proactive
deep tech research into innovations and
management approach integrating three
also industrialise and deploy radical
elements:

A GLANCE
deep tech innovations at scale.
i. The selection of a portfolio of projects
Support from idea generation by researchers
that share common research and
through to their commercialisation and
innovation objectives to achieve the
market entry by start-ups and SMEs is
aims of Challenge competitions.
delivered through three core schemes.
ii. The development of a Strategic
■ the EIC Pathfinder for early-stage
Plan with the Programme Managers
research on breakthrough / game-
highlighting joint activities that can
changing technologies
span collaboration on research through
■ the EIC Transition for transforming to engagement with key stakeholders
research results into innovation such as regulators, investors and
opportunities corporates.

■ the EIC Accelerator for individual start- iii. Implementation and evolution of the
ups and SMEs to develop and scale-up strategic plan based on new evidence
breakthrough innovations through a and insights to provide optimal support
unique mix of grant funding and direct to the projects and to accelerate the
investment through the EIC Fund. transition from research to market.

10 11
 Q U B E D OT

Heiko
BRÜNING
CEO and co-founder QubeDot

QubeDot, founded in 2019, and its iSMILE

project focused on the development of
integrated scalable microLED engines is the
first idea to complete the journey across all
instruments of the EIC.

The original ChipScope project consortium, with partners across Europe, secured
funding in 2016 under the Pathfinder scheme to explore the potential of gallium
A NOTE FROM THE EIC BOARD PRESIDENT nitride-based microLEDs given their brightness and scalability. Success here
led to support under the Transition scheme in 2020 involving partners from
The EIC is now a well-oiled machine that has proven itself essential for the EU’s Spain, Italy and Germany. This consortium included QubeDot, which had been
deep tech innovation ecosystem, address pressing societal needs, while improving established shortly before with the idea of producing a chip-based microscope
the competitiveness of Europe by helping innovators through the valley of death. with microLEDs.

The EIC has a pan-European reach, attracting over 10 000 of Europe’s best start-ups As part of the Transition project, QubeDot was able to perform comprehensive
and innovators, and taking early-stage risks in nearly 600 research projects and over market research and set up a large network of interested end-users. The
700 start-ups and SMEs that would otherwise remain unfunded or under-funded. traction gained with 40 of these potential customers identified the need to set
However, the wider policy environment in which it operates has become increasingly up semiconductor cleanroom facilities and realise the potential of their original
volatile, with impulses from conflicts close to Europe, the global competition for visionary idea.
artificial intelligence, and the pressing imperative of climate change, including a
scramble for sustainable energy, green materials and food security. The funding now secured through the Accelerator scheme will help the company
develop solutions for applications as diverse as augmented reality glasses and
Our response to this is to ensure an approach that provides a timely response to sophisticated measuring solutions.
these emerging policy imperatives while enduring with the principle of focusing
on and supporting the innovator’s journey. This has enabled the EIC to tap into all In the first stage of expansion, it will enable the company to develop the technology
elements of its toolkit and build a critical mass of support that has also crowded to the point where it will be able to produce roughly 1 000 wafers per year, with
in essential private investment into key areas such as AI, biotech, clean tech and each wafer containing 80 to 100 million LEDs.
quantum technologies to ensure that Europe can, as Mario Draghi called for, close
We want to become the renowned European micro-LED producer that produces
the innovation gap with the US and China, in advanced technologies which will be
micro-LEDs for EU SMEs and listed entities but also for American companies and
critical for our future competitiveness and strategic autonomy.
become the trusted supplier of high tech microLED technology outside of Asia.

Michiel Scheffer
EIC Board President
C A S E S T U DY
12 13
 3.1
Accelerating deep tech innovation

3 The EIC Accelerator supports start-ups and SMEs that have the ambition and commitment
to scale, but require substantial funding, where the risks involved are too high for private
investors alone to invest. Support is provided in the form of non-dilutive grant funding and
dilutive direct investment, via the EIC Fund (see Section 3.2), as appropriate.

Supports deep
tech ideas with
potential to scale
in global markets
Single application

KEY
Covers all technology
for grant and equity.
fields, with targeted
Due diligence by EIB
funding also available
followed by

IMPACTS
to address particular
investment decision
challenges
by fund manager

EIC
ACCELERATOR
HOW IT WORKS

Access to Grants of up to
Business EUR 2.5 m + Equity
Acceleration of up to EUR 10 m
Services

Open to start-ups
and SMEs

FIGURE 1
EIC Accelerator

14 15
 Social Innovation,
Culture & Agriculture
Creative Industries & Food
4 47

Health & amusement Instruments

Quantum, Advanced
Computing & Energy
Semiconductors 61
79
Climate &
AI, Data Environmental
& ICT Tech
54 50
Advanced Built Chemistry Telecommunications
Manufacturing Environment
& Materials 12
58
Mobility
Space 24
28 Navigations Separating &
mixing

Electric
Computing & Elements &
Health Calculating Electricity
Medical Transporting Lighting &
Technologies Biotechnology
heating
189 100

Engineering Engines or Nucleo-nics Building

FIGURE 2 pumps
Overview of the Accelerator portfolio of projects under Horizon Europe
Shaping Semiconductors Foodstuffs & Paper Prin-
ting
tobacco

Over 1 500 companies have been supported since the launch

Metallurgy Agriculture
Personal or

of the EIC Pilot in 2018. These companies hold ca. 6 000 active
domestic
articles

patents and have, in the first two years following the receipt of
EIC support, seen:
FIGURE 3
Active patents by Cooperative Patent Classification (CPC) code

Third party data points to these companies going on to raise over EUR 12 billion
52.5% 56.6% in investments (including investment by the EIC Fund) in the period following their
selection for support by the EIC. Fundraising levels appear stable in the last three
years, but 2024 saw a significant increase in the amounts invested through larger
rounds (above EUR 40 million).
GROWTH IN GROWTH IN
EMPLOYMENT OPERATING REVENUE

16 17
 These investments have come from across the globe including some notable flow of capital
across borders within Europe.

US CA UK & IRL France Benelux

DACH S.Europe Nordics E.Europe Asia

China Rest

100

% SHARE OF INVESTMENT
80

FIGURE 4
Investment into EIC companies following entry into the programme
60
2019 2020 2021 2022 2023 2024 2025

Medical Technologies

Quantum, Advanced Computing & Semiconductors

Energy
40
Health Biotechnology

Mobility

AI, Data & ICT

Climate & Environmental Tech 20

Advanced Manufacturing & Materials

Agriculture & Food

Social Innovation, Culture & Creative Industries

0
Space FI

Z
EE

LV
IL

TR
ES
L
E

SK

BG
SE

BE

C
N
D

G
D
N
Built Environment

0 500 1000 1500 2000 2500 €m

FIGURE 5 FIGURE 6
Investments into EIC companies by sector Source of investment by country

18 19
 VCs, corporates alongside corporate venture capital (CVC) and the public sector (including
the EIC) account for a majority of these deals by number.

LILI.AI
VC
Not Identified
515
398

Milie TAING
CEO and founder at Lili.ai

Corporate
Government 299
542
Lili.ai was created in 2016 based on
personal experience where I had to analyse
CVC eighteen years of emails to understand why
181
three projects were late. Making sense of a
Angels
Family
82
44 huge amount of documentation, when key
Private
Equity Accelerator Universities team members had left the project, and we
161 41
240 were facing a major legal dispute and 200 lay-offs, led me to create a giant with
FIGURE 7 the mission to enhance coordination in major projects with insights harnessed
Investor profile automatically and respectfully from daily email exchanges.

Today, Lili.ai is the leader in natural language processing applied to large scale
The resulting portfolio has a valuation of over EUR 30 billion, which includes over 70
projects and works with prestigious partners like Oracle.
companies with centaur valuations, including six with valuations above EUR 500 million.1
We analyse daily unstructured documents, such as stream of emails and
120 attachments, for ‘weak signal’ detection of risks of delay. Our use cases are
108
focused on timeline reconstruction and risk detection for large scale projects in
100
areas such as transportation, energy, infrastructure and construction.

80 Europe leads the global construction market with giants like Bouygues, Vinci,
Eiffage, ACS, Ferrovial, Hochtief, Strabag, Skanska, and Balfour Beatty. This strong
60 foundation positions us to build the next AI leader in the sector.
51

40 Doing so demands joint investments: public funds to drive R&D and early proof-
of-concepts for industry-grade safety, and private capital to scale the solution.
20 16 The EIC has therefore been instrumental in providing both money and advice in
6 support of company growth.
0
>€500m €250-500m €100-250m €50-100m

FIGURE 8
Company distribution by valuation
C A S E S T U DY

1 The figures presented here cannot be compared to Impact Report 2023 as the analysis no longer includes companies
funded under the SME instrument prior to the launch of the EIC Pilot in 2018. It also does not include the valuations of the most
recent cohort of EIC companies funded under the 2024 cut-offs.
20 21
 3.2 The EIC Fund syndicates and leverages the domain knowledge and expertise of specialised
funds and has to date co-invested with nearly 500 VCs, over 30 government and sovereign
Investing in deep tech start-ups and SMEs funds and 120 corporate/strategic investors, alongside several hundred business angels,
individuals and founders, among others. The result sees over 80% of the deals catalysed
by the EIC, involving at least one non-domestic investor, with a majority of these (ca. 70%)
The investment arm of the EIC, the EIC Fund, has invested over EUR 1 billion in the start- involving cross-border flows of investment within Europe/ countries associated to the
ups and SMEs selected through the EIC Accelerator evaluation process - the average programme. This is close to double (43.4%) the European average for such flows.
age of these companies at the time of selection was six years, with an average of ca. 15
employees at this time.

Agriculture & Food France

United States
Energy

Germany
Climate & Environmental Tech

Spain
Built Environment

Netherlands

Mobility
Switzerland

Health Biotechnology
Norway

Medical Technologies Belgium

Space Israel

United Kingdom
Advanced Manufacturing & Advanced Materials

Finland
AI, Data & ICT

Italy

Quantum, Advanced Computing & Semiconductors

Sweden

Social Innovation, Culture & Creative Industries

Denmark
0
0.

50

0
0
0

0
0

0 20 40 60 80 100 120 140

25
15

20
10

35
30

EIC Fund investment (€m) Number of investors

FIGURE 9 FIGURE 10
EIC Fund investment distribution by key sectors Country of origin of VCs, government and sovereign funds, and corporate/ strategic co-investing with the EIC

22 23
 L O C I O R T H O PA E D I C S
NUMBER
INVESTOR NAME OF UNIQUE INVESTORS HQ

Dr Brendan BOLAND INVESTMENTS

Loci Orthopaedics, executive BPI France 16 France

chairperson and co-Founder
Invest-NL 8 Netherlands

Enterprise Ireland 8 Republic of Ireland

Loci Orthopaedics develops novel
CDP VENTURE CAPITAL 7 Italy
technologies to address major unmet
clinical needs in orthopaedic medicine. The Centro para el Desarrollo Tecnológico Industrial 7 Spain
implant that the company has designed
Quantonation 6 France
recreates the natural biomechanics of the
joint, aiming to provide a safer and more effective solution. The company has High-Tech Gruenderfonds 6 Germany
received ongoing EIC support with grant funding from the EIC Accelerator and B2Venture 6 Switzerland
equity investment in the company’s Series A funding round via the EIC Fund.
Verve Ventures 6 Switzerland
Receiving the EIC Accelerator grant provided much needed capital to progress
Credit Agricole 6 France
the development of a new implant technology through key milestones. These
milestones enabled the company to secure major private equity investment Innovacom (Paris) 5 France
from a venture capital firm, and the venture investment divisions of one of the
Supernova Invest 5 France
world’s largest MedTech companies. While the grant funding was key to enable
the company to reach important milestones, the EIC Accelerator was also an Liftt SpA 5 Italy
endorsement of the company. It provided potential investors with reassurance
Mp Pensjon Pk 5 Norway
that the company was tackling a major unmet clinical need with a real commercial
opportunity. This validation was further endorsed by the EIC Fund’s equity BNP Paribas Developpement 4 France
investment, and the company is continuing to grow. Credit Mutuel Equity 4 France

Bayern Kapital 4 Germany

C A S E S T U DY
TRUMPF Venture 4 Germany

UnternehmerTUM 4 Germany

Panakes Partners 4 Italy

The VCs co-investing alongside the EIC include the Denmark's Export and Investment Fund (EIFO) 3 Denmark

25 biggest VCs in Europe, whether measured in terms of imec.xpand 3 Belgium

number of investments performed over the past five years Noshaq 3 Belgium
or the assets under management.
United Bankers 3 Finland

360 CAPITAL PARTNERS SAS 3 France

24 25
 AT L A N T I C B R I D G E
Since its establishment in 2020, the EIC Fund has:

■ Signed 384 investment agreements and invested in 272 companies with

approved investments worth over EUR 1 billion; Elaine
COUGHLAN
■ Catalysed funding rounds worth an average of ca. EUR 16 million under
Horizon Europe;
Founder and Managing Partner at
■ Crowded in over EUR 2.6 billion of additional investment since the launch Atlantic Bridge, a European deep
of the EIC Fund in 2020 with over EUR 3 of additional equity investment tech VC Fund with over EUR 1.3 billion
leveraged for every EURO of investment through the EIC Fund; assets under management.
■ Facilitated cross border flow of investment with 80% of companies
receiving support from non-domestic, primarily European, investors; and

■ Provided equity for over 70% of the companies with the remainder receiving Having long term strategic investment partners is essential when investing in
SAFE notes or convertible loans. deep tech portfolio companies. These companies are generating and scaling
breakthrough technologies, solving difficult global problems and as a result, the
The scale of activity points to the EIC becoming one of the most active European deep time horizon can be longer. They require patient and strategic investors with
tech investors in the last 24 months12: expertise and willingness to invest across the investment cycle to scale such
technologies globally and deliver outsized returns.

The EIC is such a partner and as a result Atlantic Bridge have worked with the
INVESTOR COUNTRY NUMBER OF DEALS LATEST FUND SIZE EIC and co-invested with the EIC Fund. The addition of the EIC to the syndicate
catalysed the scale of the capital round and enabled the companies to expand
BPI France France 397 €400 m the investment round by a significant multiple.

SFC Capital United 274 ~€100 m Due to the high-performance threshold of the EIC and their expertise, it gives
Kingdom confidence to smaller and generalist type investors to co-invest in deep tech.
EIC Fund EU 174 €2.7 bn The EIC has a wide network of investors and have been very open and helpful in
showcasing European deep tech companies to this investor base.
High Tech Grunderfonds Germany 148 €660 m

ENISA Spain 113 €98.5 m European companies also require technical expertise and operational experience
of scaling companies globally. Access to this expertise and capital is being
built on the foundation that is the EIC Trusted Investor Network - this is a new
valuable piece of infrastructure in Europe, which will grow and deepen, and help
2024 also saw the launch of the Trusted Investors Network (TIN), which will play a pivotal accelerate the scaling of this generation and future generations of deep tech
role in supporting deep tech innovation. With a pool of over EUR 100 billion in assets European companies.
under management, the network is uniquely positioned to support Europe’s most promising
companies as they scale and reach new markets.

2 Data from Dealroom filtered for ‘deep tech’ experience and over a 24 month period to March 2025 C A S E S T U DY
26 27
 3.3 countries at Galp’s Lisbon Headquarters provided a unique opportunity to connect
pioneering start-ups with high-level decision-makers. Their energy, creativity,
Business Acceleration and ambition reaffirmed my belief in the potential of European innovation. From
hydrogen breakthroughs to cutting-edge energy storage, the solutions aligned
The EIC’s Business Acceleration Services connect portfolio companies and researchers with with Galp’s decarbonisation goals, demonstrating how start-ups and corporates
corporates, investors, buyers, accelerators and venture builders among many others. can collaborate to accelerate the transition toward a more resilient energy system.

C A S E S T U DY
p
aleu
EIC Sc
ACCELERATOR
& EQUITY EIC BAS S U N OY S T E R S Y S T E M S
Access to advise
EIC
Access to business
partners
PATHFINDER
Carsten CORINO
Founder of SunOyster Systems

ore
Access to innovation

l
Exp
ecosystem & peers

Ex
pl SunOyster Systems GmbH (SOS) develops
oi
t
innovative solar technologies that can meet
any demand for electricity and heat in an
EIC TRANSITION
ACTIVITIES efficient, cost-effective and aesthetically
pleasing way. In July 2024, with great
FIGURE 11
support from the EIC, we presented one of
these solar solutions at the Galp Innovation
Day in Lisbon. SunOyster’s lightweight modules with a glass front are a solution
The Corporate Partnership Programme connects EIC-funded innovators with large
for load-restricted roofs. They weigh only 5 kg/m² and are simply glued to various
corporates to collaborate and develop new business models and opportunities. EIC
roof materials. Therefore, they are ideal for most petrol station roofs. Galp operates
beneficiaries obtain scale, resources, sales channels, connections and forge new
1 400 of them in Portugal and Spain. As one kWh from the light solar modules costs
business opportunities, while corporates can identify new emerging technologies and
only 3 euro cent, a solar system of 45 kWp can then generate a cash flow of EUR
have access to great ideas that can positively impact their business.
100 000 over 20 years and save 600 tons of carbon dioxide. Galp was convinced
and defined two pilot projects. SOS has already delivered the equipment, which
GALP will now be installed in the second quarter of 2025.

Without EIC funding we probably would not have made it through the famous
Ana CASACA ‘valley of death’ and the EIC corporate day helped us again to get in touch with
Galp Global Director of Innovation a big corporate for our up-to-date product portfolio. Hardware is hard! There
are high costs and relatively long development cycles associated with the R&D
and ongoing refinement of hardware solutions such as solar technologies. Private
The recent engagement between VCs are shy investing in hardware as it is more difficult to scale. As cleantech is
the EIC and Galp, as part of the EIC desperately needed to achieve sustainable development of our society, it is of
Corporate Partnership Programme, was special importance that public bodies promote these technologies.
a transformative experience. Hosting 15
EIC-funded start-ups and scaleups from 11
C A S E S T U DY
28 29
 The co-investment support programme helps EIC beneficiaries to become investor
The Innovation Procurement Partnership Programme connects EIC innovators with
ready and access investors through pitching events. It has a database of more than
public and private buyers and provides supports participation in public and private
800 investors, including Venture Capitalists (VCs) and business angels. Co-investing in
bids. Utility companies, hospitals or cities have a lot to gain from EIC-funded deep
companies carefully selected by the EIC is a great investment opportunity, as well as
tech innovations that can help achieve market and/or policy goals and raise the
an opportunity to support breakthrough, market-creating innovations across Europe
living standards of citizens.
and beyond.

LIFTT
MYSPHERA
Giovanni
Daniel TESORIERE
VERA MANERO CEO at Liftt
Chief Marketing Officer
at Mysphera
Liftt has collaborated with the EIC to
enhance its deep-tech scouting and expand
The EIC Innovation Procurement Programme its network of European investors. The EIC’s
assisted Mysphera in submitting an offer in tools and Investor Days, have facilitated
the Dynamo Pre-Commercial Procurement the identification of high-potential start-
with a group of buyer hospitals from Italy, ups, resulting in six EIC-backed companies joining the LIFTT portfolio: Comptek
Poland, Portugal, Spain and the UK, to develop solutions that contribute to the Solutions, PrediSurge, Sparrow Quantum, Voiseed, BetaGlue Therapeutics, and
resilience of the healthcare systems for crises such as pandemics and cyberattacks. EBAmed.

EIC support was instrumental in our journey, providing funding and mentorship Our collaboration with the EIC has been a key driver of innovation, allowing us to
that enabled us to accelerate R&D efforts, refine our AI-driven predictive analytics, expand our portfolio and contribute to the growth of a dynamic and collaborative
and expand internationally. The EIC’s Innovation Procurement Partnership European deep-tech ecosystem. We look forward to continuing this shared mission
Programme facilitated strategic partnerships with healthcare providers, enabling of supporting groundbreaking innovation and turning research into market-ready
us to conduct large-scale pilots in key European hospitals. solutions.

The EIC’s credibility helped accelerate market adoption, providing hospitals C A S E S T U DY

with confidence in our solutions’ reliability and long-term viability. Thanks to this
support, Mysphera has transitioned from a regional innovator to a European
leader in hospital automation.

C A S E S T U DY
30 31
 S PA R R OW Q UA N T U M A P S
The EIC Scaling Club launched in 2024 is an EIC-funded curated community where
scale-up support is being provided to 120 deep-tech companies from the EIC
portfolio and beyond to help them grow into European tech champions.
Kurt
STOKBRO
ELAPHE
CEO at Sparrow Quantum Aps
Luka
Sparrow Quantum is a spin-out from a
powerhouse of innovation, Professor Peter
AMBROZIC
Lodahl’s research group at the Niels Bohr CCO, CFO and Member of Board of
Institute. We specialise in advancing light- Directors, Elaphe
matter interfaces, the critical components
required to scale optical quantum technologies. Elaphe is developing technologies to simplify
electric vehicle architecture to make them
Support from the EIC led to private investments in a pre-seed round of EUR 4
cheaper to build, more efficient, safer and
million in 2023 and growth from five to 30 employees since receiving support in
more performant. We do so by creating
2022. We are now in the final stages of closing a Series A founding round, which
advanced in-wheel motors that require no gears and fit directly into the spaces
will take us to the next level. The EIC’s Business Acceleration Services - through
already available in the wheels of cars, commercial vehicles and other vehicle types,
the investment pitching events - have helped connect with investors (including
and software that enables advanced vehicle functions by using the newly created
Liftt).
control opportunities from in-wheel motors.
C A S E S T U DY
Our objectives are to reduce cost of vehicles by 20% and make them 20% less
consumptive, and thus remove major obstacles to wider EV adoption. We also
believe this technology will play a key role in MaaS (Mobility as a Service) vehicles
in the long-term future, introducing unprecedented safety, comfort and function for
decades to come.

As early believers in electric mobility, our work started in the early 2000’s, with the
first 10 years focused on basic research, the next five years focused on prototyping,
testing and validation for road use, and we have now begun commercializing the
technology, and in doing so, we work with most major OEM groups on advanced
development.

The EIC has helped Elaphe through its mentorship programmes, notably EIC Scaling
Club, which has provided some incredible insights and support. Its acceleration
services has also been supportive in getting our company ready for scaling up, and
we have participated in the EIC International Tradefair Programme, which has
helped create awareness in key target markets and facilitated conversations with
our customer and partner base.

C A S E S T U DY
32 33
 Tech2Market aims to help researchers and innovators from projects funded under EIC 3.4
Pathfinder and Transition schemes in their transition from lab to market and to provide
tailored support for the market deployment of research results. It includes services with two
Priming the next generation of start-ups
complementary approaches: Entrepreneurship and Venture Building.
EIC Transition, a novel instrument introduced under Horizon Europe, provides a unique
Ecosystem Partnerships links beneficiaries to services such as, incubation, acceleration,
opportunity to turn excellent European deep tech research into innovations. It provides up
growth and scale-up with sectorial insights, business development, networking and market
to EUR 2.5 million to enable innovative researchers, spinouts and SMEs to exploit promising
knowledge provided by the best ecosystem players in Europe and beyond.
deep tech research results, demonstrate and mature the technology and at the same
The EIC also offers internationalisation services to EIC innovators bringing them to trade time develop and refine their business plans for specific applications and look towards
fairs within and outside Europe and by offering soft-landing support in United States. commercialisation.

Single beneficiary
KEY FACTS or consortia

Open to all fields, but

also targeted funding for
Possible follow-up
■ Over 1 000 companies and projects matched to via Accelerator
particular challenges
(eligibility varies)
corporates, procurers and potential investors

■ 230 concluded deals with investors, corporates,

investors, procurers and business partners
EIC
TRANSITION
■ Nearly 400 jobs created from concluded deals HOW IT WORKS

■ EUR 362 million of investment raised through investor

outreach
Access to Business
Acceleration Services Up to EUR 2.5 m
■ 96% of coached beneficiaries recommending the service for technology
to their peers and market
development

■ 180 ecosystem partners offering over 450 services to EIC

beneficiaries Supports maturation and validation of
novel technology ideas from the lab to
relevant application environment
■ 9 start-ups created and 16 CEOs onboarded following
Tech2Market support. FIGURE 12
EIC Transition

■ EUR 316 million raised by EIC Scaling Club companies The scheme has played a critical role in valorising the outputs of early-stage research
(since April 2024) supported under the EIC and other parts of the Framework Programme, including the
European Research Council (ERC).

34 35
 IPRONICS
183 projects
Dr. Ana Belén have been funded to date under Horizon Europe, with the
GONZÁLEZ GUERRERO majority involving a commercial partner.
VP of Business Development,
iPronics
Agriculture
& Food
7
iPronics is a company founded in 2019
based on the outputs of a European
Quantum, Advanced
Research Council (ERC) Advanced Grant Computing & Energy
Semiconductors
and a subsequent Proof of Concept project awarded to the Polytechnic University 13
42
of Valencia. This support laid the foundations for the first technical stages of a
Field Programmable Photonic Gate Array (FPPGA), and the company secured an Climate &
EIC Transition grant in 2022. Environmental Tech
8
AI, Data & ICT
iPronics has pioneered a technology based on programmable silicon photonics
6
chips, versatile enough for applications like wireless signal processing, data
centers, machine learning, and advanced computing.
Built Environment

EIC support has been pivotal in the development, production, and commercialisation 1

of our first product, the iPronics SmartLight Processor. Shipped to over 20

customers across diverse applications - computing, telecom, and data centres - it
Advanced Manufacturing
enabled us to explore our technology’s potential and understand market needs. & Advanced Materials
We also showcased our team’s ability to complete the product cycle—from design 5
to production, certification, commercialisation, and customer support. By proving
our technology’s reliability and our team’s execution, we secured our recent Series
A funding.
This process, guided by the EIC Transition, has now led us to select the Optical
Circuit Switch as our next product. Now, with EIC Accelerator backing, we’re Health Biotechnology
accelerating and scaling up production to meet AI’s urgent demand for efficient 32
technologies that cut costs and power consumption.
Space
We also availed of coaching support from the EIC, to select from high-level experts 3
in technology and commercialisation. We accessed the consultancy services of a
renowned photonics expert, who was crucial in helping us refine our company’s
Medical Technologies
positioning, messaging, and technology’s value proposition. 66

FIGURE 13
Overview of the Transition portfolio of projects under Horizon Europe
C A S E S T U DY
36 37
 Independent analysis based on the Innovation Radar methodology, assessing a subset ROCCQET
of 103 projects including 13 funded under a Pilot action under Horizon 2020 point to 276
innovations with over 75% of these innovations either market creating or targeting an
emerging market for which there is a growing demand with few solutions. Eva
MARTÍN FIERRO
Innovation and Product Manager at
ROCCQET
KEY FACTS
Qilimanjaro Quantum Tech is a full-stack
(hardware, software and applications/
■ Nearly half the projects, 90, originate from ERC Proof of algorithms) quantum computing company
that uses superconducting flux qubits to build
Concept projects
application-specific quantum devices. Qilimanjaro follows a co-design approach
that brings the design of the quantum chip closer to the use-case through the
■ 43% of supported ideas come from EIC Pathfinder (or development of QASIC (quantum app-specific chips). This advanced quantum
predecessor programmes) expertise is channelled into tailor-made solutions to our customers: deployment
and integration of on-prem quantum computers; custom support on quantum
■ 13% of innovations have a clear potential to create new algorithms; and a forthcoming remote access to our quantum computing platforms,
markets through a Quantum as a Service (QaaS) model.

■ 62% are targeting emerging markets EIC support has been fundamental in pursuing our company mission to create an
analog quantum computer to harness the tangible benefits of quantum computing.
■ 19 start-ups have either been established or are in the Breakthrough advancements have been carried out within the framework of
process of being established with 31 others likely to be Qilimanjaro’s EIC Transition flagship project: RoCCQeT. This ambitious project
established. A further 40% of all participants are SMEs develops the different layers of the quantum computer stack, from frontier hardware
to software and personalised algorithms.
■ Over 100 patents have been registered by funded
projects C A S E S T U DY

■ 152 innovations are being supported through fund

raising or plan to do so

■ Licensing activities are underway or planned for 79

innovations.

38 39
 3.5 According to independent analysis based on the Innovation Radar methodology, when
including results from predecessor programmes under Horizon 2020 and based only on
Supporting technology breakthroughs their final review, 300 completed research projects have generated over 1100 innovations.
Over 75% of these innovations are either market creating innovations or are targeting an
emerging market for which there is a growing demand with few solutions.
The EIC Pathfinder, focused on support for groundbreaking research at low TRLs, has to
date supported 402 early-stage high-risk, high-gain inter and transdisciplinary projects ■ 88 start-ups have either been established or are in the process of being established
under Horizon Europe (2021-24). with over 100 others likely to be established.

A mix of open (i.e., sector and/or technology agnostic) and challenge-based (i.e., targeted) ■ Nearly 400 patents have been registered by completed projects
calls look to ensure that the EIC is positioned at the forefront of developments in science ■ 24% of Pathfinder project innovations have a clear potential to create new markets
and technology and can both identify and support technologies emerging from the science
■ Over 50% are targeting emerging markets
base that could create new value propositions and/or disrupt existing markets.
■ Over 200 innovations are being supported through fund raising or plan to do so
■ Licensing activities are underway or planned for nearly 200 innovations.

Focus on inter-disciplinarity and

visionary nature of technologies

Social Innovation, Agriculture

Culture & & Food
Supports high-risk and Open to all fields, but also Creative Industries 25
Quantum, Advanced Energy
high-impact research on future targeted funding for 1
Computing & 49
and emerging technologies particular challenges Semiconductors
81
Climate &
Environmental
Tech
19

EIC AI, Data & ICT

PATHFINDER
13
HOW IT WORKS
Built Environment
13
Advanced
Manufacturing
& Materials
Access to EIC coaching, 31
mentoring and networking Grants of up to
to crystallise the potential of EUR 3-4 m for trans-national Mobility
research results collaborative projects 3
Space
17

Health Biotechnology
Possible follow-up funding through 48
EIC transition activities and EIC accelerator Medical Technologies
103

FIGURE 14 FIGURE 15
EIC Pathfinder Overview of the Pathfinder portfolio of projects under Horizon Europe

40 41
 SOLAR FOODS 3.6
Arttu Supporting Women Innovators
LUUKANEN
Solar Foods, Senior Vice President The EIC continues to actively promote and support the role of women entrepreneurs and
researchers to boost Europe’s innovation capacity. This includes the prioritisation of women
CEOs invited to EIC Accelerator interviews and dedicated initiatives including Women
Solar Foods has industrialised the most
TechEU, to support early-stage deep tech start-ups funded and led by women and its
sustainable method of producing food that
Women Leadership Programme to provide coaching and mentoring to EIC-funded women
uses two primary feedstocks: renewable
entrepreneurs.
electricity and CO2 captured from the
atmosphere. This process is centred around
a naturally occurring hydrogen oxidising bacteria that produces nutritious protein
called Solein via gas fermentation. The EIC funded HYDROCOW project aims
of companies supported in the EIC Accelerator in 2024 -
at expanding the spectrum of food products that can be produced by this most
42 in total - are women led (female CEO/CTO/CSO) with
sustainable method of production. the overall portfolio featuring 134 women led companies
Being a part of the EIC’s CO2 and Nitrogen valorisation portfolio also provides 30% (19%)
substantial added value towards future integration of this precision fermentation
technology into novel methods of CO2 capture, purification and utilisation in
addition to methods for Nitrogen assimilation. It has enabled us to establish two
new consortia that are looking to start new projects around the core technology
– turning CO2 and electricity into added value products. women coordinators of Transition projects

The infrastructure associated in producing food using gas fermentation is capital

intensive. By way of example, Solar Foods’ first factory – a scaling demonstration
23%
– was an investment of EUR 42 million. Our current models predict that the first
phase capital expenditure for the first industrial scale plant – our second factory
– will cost EUR 134 million for its first phase of construction. Thus, vast public and
private investments are crucial to bring this ’new potato’ – a new primary caloric
supply for humankind – available to all.
women coordinators of Pathfinder projects

C A S E S T U DY
24%

8 of the 2021/22 cohort of Women TechEU beneficiaries

have secured support through the EIC Accelerator with
one achieving Centaur status.

42 43
 AMSIMCEL

Anca
MARCU
CFO and Member of Board of
Directors, AMSIMCEL

AMSIMCEL develops HyperPV - a physical

verification tool (design rule checking),
that accelerates the verification of AI and
advanced chip designs by at least 20 times
compared to major players in the market. Support from the EIC will help finalise
the optimisation of HyperPV for a production-ready environment while ensuring
its seamless integration and performance within existing EDA ecosystems. The
innovative solution will undergo rigorous testing through multiple pilot projects with
semiconductor companies, focusing on validating consistent design verification
acceleration across various design scales.

EIC support has helped us build and consolidate our team and develop our
tool, allowing us to successfully conclude our first paid customer pilot. EIC has
supported our fundraising efforts by organising sector-specific pitching events,
facilitated valuable introductions and meetings with key industry players and
provided us with deeper insights into the ecosystem. Valuable insights from our
coach - a seasoned expert in the semiconductor industry - has helped us build a
strong and effective go-to-market strategy.

C A S E S T U DY

44 45
 4 Since the beginning of Horizon Europe in
2021 over EUR 6 billion has been provided
through the EIC in support of:

■402 EIC Pathfinder research projects

on emerging technologies, involving
over 2,000 European and international
partners
EIC
PORTFOLIO ■183 EIC Transition projects to create
spinouts and commercial opportunities
from research results

■706 start-ups and SMEs under the EIC

Accelerator

■These EIC supported companies and

projects cover all countries of the
European Union and beyond.

46 47
 GREENLAND FIGURE 16
EIC Beneficiaries by Country

OTHER COUNTRIES

ICELAND

FINLAND

NORWAY

SWEDEN
ESTONIA

LATVIA

DENMARK
LITHUANIA

IRELAND
UNITED
KINGDOM NETHERLANDS

GERMANY POLAND
BELGIUM
UKRAINE

LUXEMBOURG CZECHIA SLOVAKIA

AUSTRIA
HUNGARY
FRANCE SWITZERLAND ROMANIA

CROATIA

SERBIA
BULGARIA

ITALY

TURKEY
SPAIN
GREECE

CYPRUS

MALTA

48 49
 All projects have been mapped onto a revised taxonomy, comprised of 11 sectors (primaries), 4.1
several associated sub-sectors (secondaries) and specific technologies (tertiaries). All
projects have been assigned to a single primary category, and at least one secondary
Digital, Industry and Space
and one tertiary from the very same category. Where appropriate, projects have also been
assigned to one other secondary and up to five other tertiaries.
4.1.1 Advanced Manufacturing and Materials

Advanced manufacturing and materials are key underpinning technologies that contribute
to the competitiveness, resilience, and strategic autonomy of European industries. The
Accelerator Transition Pathfinder demand for novel materials and manufacturing processes are expected to grow in support
of key policy agendas, such as the development and deployment of green technologies,
Agriculture & Food and the EIC has to date provided EUR 500 million to support over 90 projects in this sector
under Horizon Europe.
Energy
Accelerator Projects Transition Projects Pathfinder Projects

Climate & Environmental Tech Industrial & IP/Core Design

Nanotechnology & Miniaturisation

Built Environment 3D Printing & Other Additive Manufacturing

Lasers, CNC & Other Subtractive Manufacturing

Mobility
Industrial Robotics, Advanced Machinery & Tooling

Process & Packaging Technologies

Health Biotechnology
Supply Chain Technologies

Medical Technologies Standards & Interoperability Systems

Quality Control & Security

Space 2D & Nanomaterials

Micromaterials
Advanced Manufacturing & Advanced Materials
Thin Films, Coatings & Surfaces

Biomass, Bio-based & Engineered Living Materials

AI, Data & ICT
Polymers & Plastics

Quantum, Advanced Computing & Semiconductors Composites

Metals & Alloys

Social Innovation, Culture & Creative Industries Glass & Ceramics

0 100 200 300 400 Fibers, Textiles & Fabrics

Cementitious Materials
0 10 20 30 40 50 60 70

FIGURE 17 FIGURE 18
EIC Horizon Europe portfolio broken down by instrument and primary sector Number of EIC projects developing Advanced Manufacturing and Materials by technology area

50 51
 Technologies within this sector also underpin developments across a number of other sectors.
This is evidenced by the provision of over EUR 500 million in support directed towards SPOTLIGHT ON MID TO LONG-TERM
companies and projects developing advanced materials with some of these developments AND SYSTEMS INTEGRATED ENERGY
STORAGE
integral to sectors such as quantum, advanced computing and semiconductors, medical
technologies and energy.

Advanced manufacturing and materials are pivotal in the development and

enhancement of novel energy storage technologies. They can drive improvements
in efficiency, sustainability, and performance. Mid and long-term energy storage
are fundamental technologies to bridge the intermittency of renewable energy
Agriculture & Food sources (RES) to implement the Green Deal but also the REPowerEU policies (60%
rate of RES as of 2030), with both strategic for Europe.
Energy
The EIC portfolio established in this area looks to develop a range of breakthrough
Climate & Environmental Tech solutions for thermal, mechanical, chemical and electrochemical storage to optimise
processes and system integration opportunities, while minimising or avoiding the
Built Environment use of critical raw materials. A key strand of the portfolio activities of the funded
projects surrounds the types of materials used, including their synthesis and
Mobility characterisation but also their implementation in real systems. Regulatory issues
and techno-economic analysis are also tackled, allowing for a benchmarking of
Health Biotechnology the different technologies defining their precise positioning in relationship with
competing technologies in the same technical or application field.
Medical Technologies

Space

Advanced Manufacturing & Advanced Materials

AI, Data & ICT

Quantum, Advanced Computing & Semiconductors

0 10 20 30 40

FIGURE 19
Integration of advanced materials developments across primary sectors

52 53
 PAO L O B O N DAVA L L I E C O LY T E
EIC Programme Manager for advanced materials for energy

Stefan
SPIRK
My role as a Programme Manager is to CEO of Ecolyte GmbH
develop a vision on how advanced
Ecolyte develops next generation
materials may change the energy
stationary energy storage based on
sector.
renewable materials. The EIC programme
This has been partially implemented more broadly has helped improve
through two Pathfinder portfolios - one performance in all components of the
focused on mid to long-term energy energy storage systems, and the EIC
storage, and another on clean and Programme Manager, Paolo Bondavalli,
efficient cooling. has supported Ecolyte in a wealth of ways, including providing contacts with
other SMEs working in the field, identifying funding opportunities and offering
A significant part of my work involves identifying market trends and advice on how to gain traction faster. Paolo has also helped find suitable
stakeholders to help projects move in the right direction from the very partners to build an ecosystem and value chain in the field of stationary energy
beginning. Beyond the Pathfinder programme, i.e. in the Accelerator and storage.
Transition programmes, I actively assist companies to secure funding,
connecting them to stakeholders and partners. In addition, the Junior Scientist forum established by Paolo is one of the most
important activities in the Portfolio. They create a space where the scientists
I have been raising awareness among researchers to help them develop an - PhD students and postdocs - can come together and discuss ideas and
entrepreneurial mindset and a strong network. This is achieved through a collaboration opportunities. For the PhD students, it is an excellent opportunity
Junior Scientists Forum and the organisation of a series of webinars featuring to widen their scientific network and to get in touch with other leading scientists
deep tech entrepreneurs with established start-ups/spin-offs. in the field. This also has a positive impact on the established researchers, as
new ideas can come into existing projects and new collaborations evolve.

54 55
 The underpinning nature of these technologies is exemplified by the extent of support
4.1.2 AI, Data & ICT
for AI, which encompasses both companies and projects developing the next generation
The EU aspires to be the global leader and foster the development and deployment of of AI tools, but also its development and application to a range of sectors. This points to
responsible Artificial Intelligence (AI). The area and wider sector therefore feature strongly in a portfolio worth over EUR 725 million in support for companies and projects during the
the work of the EIC with several initiatives at all stages of technology maturity, including an first four years of Horizon Europe, with medical technologies one of the key application
early-stage Pathfinder Awareness Inside Challenge, and a current Accelerator Challenge domains.
on the use of Generative AI across key application domains.

The EIC portfolio for this sector features over 70 projects in receipt of EUR 300 million in Agriculture & Food

funding.

Energy

Accelerator Projects Transition Projects Pathfinder Projects Climate & Environmental Tech

Built Environment
Generative AI & Foundation Models

Machine & Deep Learning

Neural & Cognitive Networks Mobility

Robotics & Autonomous Agents

Computer Vision & Image Recognition

Health Biotechnology
Text Mining & Data Processing

Synthetic Data & Data Augmentation

Medical Technologies
Data Management & Information Architectures

Data Protection & Privacy Enhacement

5G, 6G, Mobile Connectivity & Mobile Devices Space

Global Positioning & Navigation Systems

Web3, Web4, Blockchains & Fintech

Advanced Manufacturing & Advanced Materials
Virtual Worlds & Immersive Technologies

Digital Twins & Virtual Identities

Gaming, Interactive & Non-linear Media

AI, Data & ICT

Cryptography

Secure Protocols & Network Resilence Quantum, Advanced Computing & Semiconductors
Cyberthreat Detection & Incident Management

0 20 40 60 80 100 120
Social Innovation, Culture & Creative Industries

0 10 20 30 40 50 60

FIGURE 20 FIGURE 21
Number of EIC projects developing AI, Data and ICT by technology area AI projects mapped against primary sectors

56 57
 H E D I K A R R AY
SPOTLIGHT ON EIC Programme Manager for Artificial Intelligence
AWARENESS The Awareness Inside portfolio is dealing
INSIDE with very hot topic regarding the awareness
and consciousness capabilities of AI systems.
Three innovative start-ups developing those
The mission of this portfolio is to strengthen the European position in the race for
AI capabilities are emerging from the portfolio
future Generative AI by exploring the possibility of enriching such systems with
with the potential to become pioneers in this
some or all the functions associated with consciousness and/or awareness in a way
area.
that is appropriately aligned with European values and ethics guidelines.
Since joining the EIC in 2024, I have focused
Awareness and consciousness are key for the next generation of AI systems, because on strengthening exploitation strategies by
they enable a deeper understanding of the environment, its own strengths and establishing a working group for start-ups
limitations, and the context it operates in, allowing for more informed decision- to share experiences, benefit from the EIC’s Business Acceleration Services and
making, enhanced autonomy, and improved human-AI collaboration. explore potential commercialisation pathways.

With awareness and consciousness, AI systems can perceive and respond to context, This vision was recently showcased at the AI Everything Global event in Dubai,
nuances, and complexities, making them more reliable, safe, and trustworthy. By where our portfolio’s start-ups were presented to a worldwide audience, including
investors, demonstrating the potential of European innovation in AI and attracted
incorporating awareness and consciousness, AI systems can begin to mimic human
significant interest from global stakeholders.
intelligence, making them more effective and efficient in various applications, and
paving the way for a new era of AI that can learn, adapt, and interact with humans The event highlighted the growing recognition of the importance of awareness
in a more natural and meaningful way. and consciousness in AI systems, and our portfolio’s pioneering work in this area
is poised to shape the future of AI development and deployment, both in Europe
and globally.

58 59
 EMERGE
4.1.3 Quantum, Advanced Computing & Semiconductors

The European Chips Act looks to strengthen Europe’s technological leadership in this
DAV I D E B AC C I U sector with a series of actions designed to, among others, strengthen Europe’s research
and technology leadership towards smaller and faster chips; increase production capacity;
Pr. of Machine Learning, University of
and reinforce European capacity to innovate in the design, manufacturing and packaging
Pisa, EMERGE project coordinator
of advanced chips.
EMERGE develops a new framework,
The EIC is making a strong contribution to this agenda with over EUR 850 million of support
combining philosophy, mathematics,
for semiconductor and quantum technologies alone, of which nearly EUR 600 million has
and artificial intelligence, to explore
targeted start-ups and SMEs under the Accelerator.
how collaborative awareness - a shared
understanding of existence, environment,
Accelerator Projects Transition Projects Pathfinder Projects
and goals - can emerge from interactions
among simple artificial entities. Quantum Computing & Simulation

Thanks to the support of the EIC, EMERGE has successfully accelerated the Quantum Sensing & Measurements

transfer of project innovations at an early stage and launched two start-ups, Quantum Communications &
Post-Quantum Cryptography
both of which have secured pre-seed funding.
Advanced Computing & Logic Systems
EIC Programme Manager Hedi Karray plays a key role in supporting the growth
Cloud, Edge, Mesh &
of EMERGE, by creating networking opportunities with relevant stakeholders in Other Advanced Architectures
space, robotics, and logistics, helping to connect our innovations with potential
Integrated Circuitry & Advanced Packaging
users and markets. Hedi boosts the visibility of EMERGE by promoting our
results through workshops and dissemination events, ensuring our innovations Printed, Flexible & Organic Electronics
reach a wider audience and drive further advancements.
Sensors, Actuators & MEMS

IoT, Interfaces, Haptic Devices

& Feedback Systems

Memories & Data Storage

Power Electronics

Spintronics & Magnetronics

Lasers & Optical Systems

Light Emission, Imaging & Displays

Wireless Communication Electronics

Antennas & Signal Processing

0 20 40 60 80 100

FIGURE 22
Number of EIC projects developing Quantum, Advanced Computing and Semiconductors technologies

60 61
 SPOTLIGHT ON DNA-BASED DIGITAL
DATA STORAGE

Current technologies for digital data storage are hitting sustainability limits
regarding energy consumption and their use of rare and toxic materials. Moreover,
data integrity when using those technologies is time-limited, which complicates
archival data-storage.

DNA or certain classes of synthetic DNA alternatives promises information densities

that are several orders of magnitude higher than classical memories, and stability
for millennia rather than years. Proof of concept for DNA data archiving in vitro is
now well established.

This portfolio of early-stage research projects looks to explore scalable and reliable
high-throughput approaches for using DNA as a general data-storage medium.

I S A B E L O B I E TA
EIC Programme Manager for Sustainable Semiconductors

As the Programme Manager overseeing the

DNA-based storage portfolio, one of the
initiatives I launched was to work with
European Patent Office (EPO) on an
Intellectual Property cartography that allows
the projects funded under this challenge
competition to position their innovations in
the complex DNA-based Digital Data
Storage landscape.

This work was undertaken with a view to

better understand the dynamic and growing landscape of DNA digital storage
patents, underscoring significant contributions from both established companies
and start-ups across various subfields and geographic regions, indicating a robust
and evolving field of innovation. Positioning the innovative results being tackled
by the DigNA portfolio is of utmost importance to find the optimum routes to
exploitation of these technologies.

62 63
 DNAMIC
E U R O P E A N PAT E N T O F F I C E [ E P O]

Jérôme
Lluís
CHARMET
GIMENO-FABRA
Pr. at University of Applied
Advisor Vice-President Patent
Sciences and Art of Western
Granting Process, Team Manager
Switzerland (HES-SO),
End-to-End Metallurgy
coordinator of the DNAMIC
project
Isabel Obieta Villalonga and
In the context of the DNAMIC Jerome Charmet were instrumental
project, we oversee the development of an autonomous microfactory for the European Patent Office
for long term DNA data storage. EIC Programme Manager Isabel and (EPO) in understanding the EIC’s innovation fostering activities in the
colleagues have provided continuous support, in particular in fostering area of DNA Digital Storage, to ultimately translate EIC’s technology
interactions with other partners within the DigNA project portfolio areas into concrete and useful patent mappings.
to strengthen the European DNA data storage community through
exchange of ideas, encouraging multidisciplinary collaborations among We worked as a seamless team along the journey to understand the
partners, and extending these connections beyond the consortium. needs of the EIC Portfolio in the area of DNA Digital Storage and generate
concrete patent intelligence to support Pathfinder beneficiaries in the
Isabel has coordinated a collaboration between projects in the portfolio early stages of technology development.
and the European Patent Office (EPO) to develop a DNA data storage
patent landscape. This resource is highly valuable for navigating the Seeing EPO and EIC experts create a common ‘cartography of technology’
complexities of patenting in this field, and will support multiple projects and translate it into useful patent-based intelligence was fascinating.
in shaping their intellectual property strategies.
The outcome is of great mutual benefit, as our experts now understand
Isabel’s critical and constructive insights have prompted us to step back how the emerging area of DNA Digital Storage is being shaped across
and reassess our exploitation strategy. This input was highly valuable, several inter-linked fields.
as, in complex projects of this nature, it is common to become deeply
immersed in research and development and lose sight of the broader
objectives.

64 65
 SPOTLIGHT ON ACCESS TO FINANCE
FOR QUANTUM START-UP AND SMEs

Quantum technologies are expected to transform industries like healthcare,

finance, energy, and defence, marking a major shift in information processing and
secure communication. Recognising their strategic importance, governments and
private sectors worldwide are ramping up investments.

The U.S. leads on quantum funding, with China making strong investments to boost
security and tech leadership. Other nations, including Canada, Japan, Australia, the
UK, South Korea, Israel, and several European countries, are also investing heavily.

The EU launched the EUR 1 billion Quantum Technology Flagship in 2018, but
European start-ups struggle to secure large-scale funding. The EIC plays a key
role in de-risking private investments, making it Europe’s largest public investor in
quantum start-ups. Having backed 36 start-ups under its Accelerator programme,
the EIC is attracting strong private investor interest.

SAMIRA NIK
EIC Programme Manager for Quantum Tech and Electronics

Given the capital-intensive nature of the

sector and the global competition for
investment, a core part of my work has been
to help our portfolio companies connect with
investors, including through targeted
outreach events underlining the realm of
capability in Europe - for example, leading
quantum computing start-ups in France,
Finland, Netherlands, and Ireland; quantum
software start-ups in Poland and Spain; start-
ups advancing key aspects of quantum communication in Spain; and a unique
German startup specialising in quantum sensing for the semiconductor industry.

In addition, we help our beneficiaries with expert advice on topics like IP strategy,
standardisation, public procurement, etc. which are essential for their business
development more broadly.

66 67
 ALICE & BOB
4.1.4 Space

The space sector plays a key role in Europe’s security and economic future and ensuring
CHLOÉ POISBEAU the EU’s strategic autonomy is a central priority for the European Commission. Key strands
Chief Operating Officer of the EU’s policy include the long-term European launcher policy alongside reliable and
autonomous access to space.
Alice & Bob is a quantum computing
company based in Paris and Boston. Our The EIC has thus worked to support these policy ambitions and has in recent times supported
mission is to build the first useful quantum nearly 50 projects in the sector spanning all stages of technology maturity.
computer powered by cat qubits. Cat
qubits, which we pioneered, would allow
the creation of a quantum computer with Accelerator Projects Transition Projects Pathfinder Projects

dramatically fewer resources and energy

requirements than the current state-of-the-art. Space Missions, Operations & Ground Segment

Alice & Bob will celebrate its 5th birthday in 2025, and the growth journey has
been impressive: growing from two to 120 employees, starting from a research Spacecraft Propulsion & Power Systems

prototype to an actual quantum chip available to first users.

We joined the EIC Accelerator in 2021. The programme has offered financial Guidance, Navigation & Control Systems (GNC/AOCS)

support and many networking opportunities. EIC Programme Manager, Samira

Nik, has helped navigate the EIC Programme and identify business acceleration
Thermal & Structural Engineering
initiatives that can help us grow and scale. Each step of this journey has been
an amazing entrepreneurial experience, and the EIC has supported us each
step of the way. Environmental Control & Life Support Systems (ECLSS)

Advanced Electronics & Computing (FPGAs)

Satellite Communications Systems (SATCOM)

Space Exploration Systems & Vehicles

Earth Observation & Meterology

Geographical Information Systems (GIS)

0 5 10 15 20 25

FIGURE 23
Number of EIC projects developing Space technologies

68 69
 SPOTLIGHT ON SPACE

The space sector is growing rapidly with competitive driving forces, changing
business models and disruptive innovations altering the sector. However, these
trends also necessitate new innovations that can address emerging challenges
from the exponential growth of launches. This includes the need for space debris
removal and in-space mobility alongside affordable de-orbiting solutions and in-
space recycling of space debris.

The EIC has thus launched challenge competitions in 2023 and 2024 to support
early-stage breakthrough ideas that address these dimensions. The more
established of these portfolios focuses on in-space solar energy harvesting and
supports the development of a range of technology blocks with common research
activities focused on these areas: the development of solar cells, wireless power
transmission and in-space green propulsion.

S T E L L A T K ATC H OVA
EIC Programme Manager for Space systems & technologies

The EIC’s space portfolio has continued to

grow and given the rapid pace of
development, a core element of the portfolio
activity I have initiated surrounds the early
commercialisation of the emerging ideas.

Another strand of my work surrounds the

collaboration with the Directorate-General
for Defence, Industry and Space (DG DEFIS),
to facilitate access for flight qualification
activities of space hardware with several
launches taking place in 2024 and new EIC space companies being pre-selected
for future In Orbit Demonstration (IOD)/In Orbit Validation (IOV) launches in early
2025.

70 71
 E .T. PAC K 4.2
Green
Pr. GONZALO SÁNCHEZ-
ARRIAGA
4.2.1 Agriculture and Food
Universidad Carlos III de Madrid, E.T.
Pack Project coordinator The EU’s Farm to Fork Strategy is at the heart of the European Green Deal and looks to
improve our food systems. Numerous deep tech solutions are being developed by EIC
The EIC and Programme Manager
beneficiaries aiming to improve resource efficiency in agriculture and food processing,
Stela Tkatchova have provided the
reduce greenhouse gas emissions, prevent biodiversity loss and negative health impacts
funding, support and stability to develop
caused by inappropriate nutrition. These disruptive technologies will allow fair economic
electrodynamic tether (EDT) technology.
returns and livelihoods for all actors, in particular for primary producers, on a sustainable
Thanks to the support received through
path.
several space projects, including E.T. PACK, we have had a stable team of
young and enthusiastic engineers working for six years in a continuous manner The EIC has in this context launched several targeted initiatives, spanning early-stage
to achieve our goal: to prepare an autonomous deorbit device based on EDT research, to better clarify the role of diet into human health through to the development
technology. of technologies to increase resilience in agriculture. The result is a portfolio of nearly 80
projects spanning all TRLs.
Thanks to the EIC Pathfinder, the E.T. PACK project reached TRL4. Now, in the
framework of the EIC Transition E.T. PACK project, we are preparing a flight-
ready deorbit device that will be in-orbit demonstrated next year. And we Accelerator Projects Transition Projects Pathfinder Projects

founded PERSE Space, a new company dedicated to the preparation and

Crop Protection
commercialisation of in-space propulsion systems based on electrodynamic
tether technology. Soil Management

Stela supported our work over the years by providing advice, including on Fertilisation & Irrigation
technical aspects. She has given high visibility to our projects and their results,
which has been very useful in bringing us into contact with customers and Cell-based Food Production

investors.
Precision Fermentation

Nutraceuticals

Agrifood Safety & Traceability

Precision & Smart Farming

Regenerative Farming &

Agritech for Sustainability

Urban & Vertical Farming

0 10 20 30 40

FIGURE 24
Number of EIC projects developing Agriculture and Food technologies

72 73
 SPOTLIGHT ON NOVEL TECHNOLOGIES
FOR RESILIENT AND SUSTAINABLE
FOOD SUPPLY CHAINS

This portfolio seeks sustainable solutions to help agriculture cope with external
factors such as global warming, biodiversity loss, pollution, loss of fertile soils,
foreign dependencies and even inappropriate agricultural practices.

To address this, breakthrough innovations are needed, such as, for example, new
environmentally friendly technologies in fertilisation, innovative crop protection
strategies including through plant microbiomes, diversification of crops and
varieties in agricultural use and diversification of land use system locally, as well as
innovative technologies for tillage and irrigation.

Much of the activity relates to food production linked to the soil, but the portfolio
also features approaches that could decouple food production from the soil and
wider environmental conditions. I VA N S T E FA N I C
EIC Programme Manager for food chain technologies, novel &
sustainable food

The 3P-TEC project, is a more mature part of

the portfolio of projects, exploring novel
routes to agricultural resilience. Here, I worked
closely with the consortium to explore
opportunities beyond the scope of the
original proposal, by investigating possible
application of the new technology in
additional crops and in redefining the
business model.

The University of Bremen, and the Humboldt

Foundation provided additional financial support, totalling over EUR 1 million, which
enabled the team to drive forward scientific innovation, and business development.
Several international partnerships were established and new opportunities for
3P-Tec’s application across a wide range of crops were opened, including wheat,
cassava, yams, and brassicaceae.

74 75
 3 P -T E C
4.2.2 Built Environment

Achieving the ambitious goal of reducing net greenhouse gas (GHG) emissions by at least
55% by 2030, defined in the European Commission’s “Fit for 55”, will require a radical
RITA GROSS-HARDT transformation of the built environment, which currently represents 5-12% of CO2 emissions
Pr. for Molecular Genetics at University in the EU.
of Bremen, 3P-Tec EIC Transition
The EIC has thus launched ambitious initiatives since 2023 to leverage the use of novel
project coordinator
material, digital technologies and design practices to incentivise the development of radical
At 3P-TEC we capitalise on our game solutions that can contribute to this ambition.
changing discovery that plant egg cells
can fuse two sperm-producing offspring
with three parents, one mother and two
Accelerator Projects Transition Projects Pathfinder Projects
fathers.

This technology has the potential to bypass a hybridisation barrier which acts Architecture, Design & CAD

as a major limitation for conventional plant breeding approaches. 3P-Tec

aims to revolutionise the ability of breeders to develop improved crops, by
providing a tool to mine beneficial gene variants of currently incompatible
species, and to substantially shorten time-to-market of climate-adapted Engineering Simulation & BIM
seed varieties. It provides a novel breeding strategy, with economic benefits
expected to positively affect the social welfare of farmers as well as upstream
and downstream industries related to the agricultural value chain.
Planning & Construction
EIC Programme Manager Ivan Stefanic and the EIC’s Tech to Market
Entrepreneurship and Venture Building Programme has been instrumental in
guiding our journey from scientific innovation to market readiness.
Building Operations & Maintenance
Ivan’s profound expertise in agriculture, business development, and legal affairs,
combined with constant availability and tailored advice, has provided invaluable
strategic direction. His support has helped us refine our approach, navigate
challenges, and accelerate the transition of 3P-Tec towards commercialisation.
Heritage & Renovation

Thanks to the EIC and Ivan’s support, we are now actively collaborating with
national and international partners across academia and industry, working to
translate our scientific innovations into practical applications that support the Infrastructure Resilience

future of sustainable agriculture.

0 2 4 6 8 10 12 14

FIGURE 25
Number of EIC projects developing technologies related to the Bulit Environment

76 77
 SPOTLIGHT ON LOW CARBON
CONSTRUCTION

The built environment is responsible for approximately 40% of global CO2

emissions, stemming from both embodied carbon - emissions from the production
of materials like cement and steel - and operational carbon - emissions from energy
consumption for heating, ventilation, and air conditioning. In order to tackle these
challenges, the EIC invested in establishing two Pathfinder portfolios.
FRANC MOUWEN
The first targeted efficient construction, using less and novel materials, powered EIC Programme Manager for architecture engineering
by digital design. This is illustrated by projects like FlexiForm (case study below). A construction technologies​​
subsequent challenge focused on developing low to carbon-negative cement.

One of the major barriers for innovators and

start-ups in the construction sector is
navigating strict regulations (building codes,
norms, and standards), while securing finance
for prototyping and scaling hardware
equipment and materials.

As a Programme Manager, I have therefore

played a key role in helping start-ups
overcome these challenges, ensuring that
groundbreaking solutions could reach the
market and drive meaningful impact. This has been achieved by, for example,
facilitating connections between start-ups and SMEs, such as Materrup, and
industry leaders, both through direct interactions and EIC Corporate Days.

Corporate partnerships are critical for providing access to testing facilities, technical
expertise, and ultimately, the pathways to scaling solutions in global markets.

In addition, I have leveraged my network within the European Commission to

drive policy dialogue, promoting regulatory alignment and unlocking funding
opportunities across the broader European innovation ecosystem. This includes
securing support for First-of-a-Kind (FOAK) plants and project financing needed
to scale breakthrough technologies.

78 79
 FLEXIFORM M AT E R R U P

MARIANA POPESCU JULIE NEUVILLE

Assistant Pr. Digital Fabrication, Chairwomen of MATTERUP
Flexiform project coordinator

FlexiForm is an EIC Pathfinder-supported MATERRUP manufactures and

project aiming to reduce material usage commercialises a low-carbon cement
and embodied carbon in construction based on uncalcined clay sourced
by developing sustainable and cost- exclusively from waste.
effective solutions using 3D knitted textile
formworks. EIC Programme Manager
Franc Mouwen’s dedication to advancing sector digitalisation and engagement Franc Mouwen guided us throughout our project, advising and supporting
with the topic and the community has been very impressive. on technical, business, strategic, operational and organisational matters.
His role has been decisive in establishing relationships, supporting targeted
What I particularly appreciate is his proactive networking, which has connected
exhibitions with industry leaders, such as the HOLCIM Corporate Day.
us with valuable industry partners and researchers, creating opportunities for
feedback, collaboration, and market implementation. His genuine commitment MATERRUP went from starting to build one factory and growing to deploying
to fostering collaboration within the EIC community stands out, particularly in 10 factories in Europe. Franc has always been available to discuss and support
bringing the EIC Pathfinder portfolio projects together, constantly seeking to the project at key moments on all aspects of development, from financing
create meaningful synergies between teams and identifying areas where the strategies to direct connections.
portfolio members may benefit from external input. His guidance has made
the path to entrepreneurship feel more accessible than we initially thought
possible.

80 81
 CO2BIOCLEAN
4.2.3 Climate & Environmental Tech

The European Green Deal aims to make Europe the world’s first climate-neutral continent FABIANA FANTINEL
and policy measures taken to date focus on efforts to protects the environment and
minimise risks to climate, human health and biodiversity. CEO and co-founder CO2Bioclean

The EIC has to date supported over 75 projects spanning approaches to reduce greenhouse
The concept of our project is simple: to use
gas emissions, enhance resource use and efficiencies, and reduce the use of critical raw
CO2 emissions to make biodegradable
materials.
polymers. Emissions from industries
contribute to climate change whereas
they can be used as a feedstock to make
Accelerator Projects Transition Projects Pathfinder Projects a biodegradable polymer. This polymer,
PHA, is naturally biodegradable and can substitute traditional plastics in many
Greenhouse Gas Protocol (GHG) uses, without leaving microplastic in the environment.
Abatement Technologies
We started with the concept in 2019 and in August 2024 we opened a pilot plant
to take the technology to its next level - proof of concept. The plant has been
working continually producing a PHA polymer, which we are testing the use
Carbon Capture (CCS/CCU)
& Decarbonisation of in various sectors, including agriculture, cosmetics, packaging,where plastic
pollution is a major threat to both the businesses and to the environment.. The
materials have been validated by major EU corporates and tests are ongoing.

The fact that EIC has validated our project by investing in it gives confidence
Environmental
Monitoring & Intelligence to others to, at the very least, have a conversation with us. The EIC has not only
supported us with finance, but the extraordinary number of events organised
by and with the programme has helped us meet a vast investor community,
which would never have occurred otherwise.
Resource Management
& Valorisation

Alternatives to Critical
Raw Materials (CRM)

Waste & Pollution Management

0 20 40 60 80

FIGURE 26
Number of EIC projects developing technologies related to the Climate and Environment

82 83
 4.2.4 Energy SPOTLIGHT ON RENEWABLE
The European Green Deal is a comprehensive strategy aimed at transforming the European HYDROGEN, FUELS AND CHEMICALS
Union into a sustainable and climate-neutral economy by 2050. It focuses on securing a
reliable and affordable energy supply while developing a fully integrated, interconnected,
An important climate change mitigation pathway involves the production of
and digitalised energy market. The Deal emphasises energy efficiency, particularly in
fuels and chemicals from abundant material resources, such as water and carbon
improving the energy performance of buildings, and supports the transition to a power
sector predominantly reliant on renewable energy sources. dioxide, and renewable energy. This approach aims at replacing the need for fossil
resources and facilitates the storage of renewable energy in the long-term, in the
In line with these goals, the EIC is advancing novel approaches to address key energy form of chemical bonds. Waste streams and pollutants, such as CO2 or nitrates, are
challenges. By launching a series of Challenge competitions, the EIC is driving innovation
turned from a problem into valuable feedstock, which supports a circular economy
in areas such as heating and cooling technologies, energy storage solutions, and the
approach.
development of renewable molecules technologies, including hydrogen and approaches
that valorise CO2 and other pollutants in combination with renewable energy conversion. The products that can be achieved through these technologies are diverse
The result sees a portfolio of over 100 projects including nearly EUR 200 million for batteries and impactful, ranging from hydrogen and methanol to proteins for feed and
and supercapacitors, and a further EUR 150 million of support for Hydrogen related food applications. This wide scope of products also facilitates sector coupling,
technologies. connecting energy, transport, and industrial sectors, enabling integrated solutions
for defossilisation and promoting sustainability across various industries.

Accelerator Projects Transition Projects Pathfinder Projects

The key technologies enabling this transformation include electricity-based
approaches such as power-to-X, which converts renewable electricity into chemical
Heating & Cooling
products; and solar-to-X technologies, which directly store sunlight in the form of
Batteries & Supercapacitors chemical bonds. These technologies span all maturity levels, with a diverse portfolio
Waste-to-energy & Recycled Carbon Fuels of EIC projects across Pathfinder, Transition, and Accelerator stages.
Bioenergy & Biofuels
Renewable Fuels of Non-biological Origin
Hydrogen
Electricity
Solar
Wind
Ocean & Salinity Gradient
Geothermal
Nuclear
Oil, Gas & Carbon-based
Other Sources
0 10 20 30 40

FIGURE 27
Number of EIC projects developing Energy technologies

84 85
 C A R I N A FA B E R eCHEMICLES
EIC Programme Manager for renewable energy conversion and
alternative resource exploitation
CSABA JANAKY
A core element of my work on this portfolio is Co-founder and CEO, eChemicles
to single out the added value of the developed
eCHEMICLES is a deep tech company,
technologies in a future decentralised energy
dedicated to developing and
and production system, beyond pure cost
commercialising innovative sustainable
benefits. It focuses on the development of a
CO2 electrolyser solutions to enable
holistic assessment methodology for these
the chemical industry to reduce its
emerging technologies. This framework
environmental impact in a profitable
integrates technical, economic,
way. During the past two years, we have
environmental, and social factors, providing
performed the lab-to-tech transition of the currently best performing low
a standardised, transparent tool for
temperature CO2 electrolyser technology, with the support of the EIC Transition
innovators, policymakers, and industry decision-makers.
Programme.
By offering a harmonised template with clear system boundaries, assumptions,
EIC Programme Manager Carina Faber followed our progress closely, inviting
and methodological choices, it facilitates a deep understanding of how different
us to participate and present at relevant events, and connecting us with
parameters contribute to sustainability outcomes and aids in identifying the
relevant actors of the European carbon capture and utilisation (CCU) space via
most promising technological configurations. This initiative not only accelerates
workshops, symposia, and online discussions. Furthermore, she has connected
innovation by providing a common language for diverse stakeholders, but also
us directly to stakeholders and relevant partners for our growth journey.
ensures that new technologies contribute to a sustainable, competitive, and socially
acceptable energy transition.

86 87
 H E A R T A E R O S PAC E
4.2.5 Mobility

The transport sector, including road transport, aviation, waterborne and rail, have been Anders FORSLUND
steadily increasing its emissions at an average yearly rate of 1.7% since 1990. The Sustainable
CEO and co-founder, Heart Aerospace
and Smart Mobility Strategy therefore includes measures to deliver a 90% cut in mobility
emissions by 2050, delivered by a smart, competitive, safe, accessible, and affordable Heart Aerospace is developing the ES-
transport system. 30, a hybrid-electric 30-seat airplane
designed to revolutionize regional air
The EIC launched its first mobility-focused Challenge competition in 2025, which will build
travel with unmatched sustainability
on the current portfolio of 25 projects, mostly under the Accelerator and concentrated on
and efficiency. The ES-30 is set to deliver
transport electrification and autonomy.
significant environmental benefits by
reducing CO2 emissions and operating
costs on short-haul routes, enabling airlines to expand regional connectivity
and serve underserved communities. This aircraft is a crucial step toward
Accelerator Projects Transition Projects Pathfinder Projects
decarbonizing the aviation industry, aligning with the sector’s goal of achieving
net-zero emissions by 2050.
Freight & Logistics
Our journey towards revolutionizing regional aviation with electric propulsion
has been marked by several key milestones. In 2020, we started by proving the
cost efficiency of electric propulsion, laying the foundation for the development
of a sustainable aircraft. This led to the next phase in 2021, where we successfully
Mass Transit & Public Transport conducted subscale flight tests to validate the flight characteristics and
performance profile of electric aircraft. In 2022, we advanced further with the
establishment of our “Iron Bird” integrated test facility, a full-scale test bench
designed to validate and integrate critical aircraft systems. This step was crucial
in ensuring the performance, safety, and reliability of our aircraft systems.
Autonomous Vehicles & Drones
The culmination of these efforts was the launch of the Heart X1 full-scale
airplane demonstrator in 2024. This demonstrator is planned to fly in 2025
in a first fully electric experimental flight and when it takes to the skies it will
become the largest electric airplane ever to fly. Each phase of development
Personal Mobility
has been critical in refining our technology and demonstrating the viability of
electric propulsion for commercial aviation.

The EIC has played a vital role in supporting Heart Aerospace’s journey,
Electric Vehicles (EVs) & Electrification providing not only critical funding but also access to a network of expertise
that has accelerated our development. The recognition from the EIC has not
0 5 10 15 20 25 only validated our technology but also demonstrated to potential investors
that our project has strong growth potential and aligns with key sustainability
goals in the aviation industry.
FIGURE 28
Number of EIC projects developing Mobility technologies

88 89
 4.3 4.3.1 Health Biotechnology
Health The Health Biotechnology portfolio has featured several targeted initiatives, particularly
focused on the development of cell and gene therapies with over 150 projects at all stages
EU policies and actions in public health aim to protect and improve the health of EU of technology maturity.
citizens, support the modernisation and digitalisation of health systems and infrastructure,
improve the resilience of Europe’s health systems; and equip EU countries to better prevent
and address future pandemics.
Accelerator Projects Transition Projects Pathfinder Projects
Support under the EIC have spanned these elements, with support for breakthrough
biotechnology driven solutions and medical technologies that address a range of conditions,
the largest of which sees ca. EUR 500 million of funding for novel approaches to detect and Drug Discovery
treat cancer.
Drug (API) & Pharma Processing

Drug Delivery
Accelerator Projects Transition Projects Pathfinder Projects

Biomarkers & Precision Medicine

Infectious & Parasitic Disease

Cancer & Neoplasms Tissue Engineering

Blood or Blood-Forming Organ Diseases
Cryogenics
Immune System

Endocrine & Metabolic Diseases Genetic Engineering & Synthetic Biology

Mental & Neurodevelopmental Disorders
Microbiome
Sleep-Wake Disorders

Nervous System Small molecules

Visual System

Ear & Mastoid Process

Antibodies & Immunotherapy
Circulatory System
Vaccines
Respiratory System

Digestive System Aging & Longevity

Skin Diseases
Women's Health
Musculoskeletal / Connective Tissue

Genitourinary System Cell & Gene Therapies

Sexual Health
Toxicology
Pregnancy, Childbirth & Puerperium

Perinatal Conditions Antibiotics & Anti-microboal Resistance (AMR)

Developmental Anomalies
Pandemics and Health Emergency Preparedness
Rare & Orphan Diseases
0 20 40 60 80 100
Other Diseases
0 20 40 60 80 100 120

FIGURE 29 FIGURE 30
Number of Health projects based on disease type Number of EIC projects developing Health Biotechnologies

90 91
 SPOTLIGHT ON ENGINEERED
LIVING MATERIALS

The mission of the portfolio is to support the development of new technologies

and platforms that enable the controlled production of made-on-demand living
materials with multiple predictable dynamic functionalities, shapes and scales, and
to build a community of researchers and innovators in Engineered Living Materials.

O R S O LYA S Y M M O N S
EIC Programme Manager for Health and Biotechnology

When developing healthcare solutions, it is

essential to consider regulatory requirements
to bring safe and effective products to
patients in a timely manner. This is particularly
critical for novel, innovative technologies,
where regulatory pathways may not be as
clearly established, or innovators may not
yet be familiar with the regulatory
environment.

To this end there has been a close

collaboration between the team at the EIC in the agency and the EMA, which
included targeted interactions for both the Cell and Gene Therapy Portfolio
and the Engineered Living Materials portfolio, as part of the hands-on portfolio
management. By way of example, as a potentially new method for the in-situ
production of therapeutics, Engineered Living Materials were included in ‘horizon
scanning’ activities by EMA, informed by the work of relevant portfolio projects,
with results discussed in a portfolio workshop with the EMA.

92 93
 EMA InSOCIETY

CONSTANTINOS ZIOGAS LAURA MARTINELLI

Head of Small and Medium sized CEO at INSociety
enterprise (SME) Office of the European
INSociety enhances the societal
Medicines Agency
impact of innovations, streamlines
Our collaboration with the EIC has been their integration into healthcare
systems, and facilitates the transition of
instrumental in supporting biopharma
groundbreaking low TRL innovations into
and medtech startups and SMEs.
viable solutions, ultimately benefiting
This partnership has not only provided patients and advancing medical
innovation.
training and educational resources on the regulatory frameworks of
pharmaceuticals and medical technologies, but has also highlighted the The journey towards regulatory compliance for our PRISM-LT project was
regulatory pathways available to innovators at the European Medicines greatly supported by the guidance and expertise provided by EIC Programme
Agency (EMA). By fostering early identification of challenges and enhancing Manager, Orsolya Symmons, who played a pivotal role facilitating a structured
the regulatory robustness of development programmes, we aim to accelerate dialogue between the European Medicines Agency (EMA), innovators and
the translation of cutting-edge research into impactful medical innovations regulators, streamlining the pathway for compliance, approvals, and market
that address public health needs. access of breakthrough medical solutions. This initiative had a profoundly
positive impact on the internal competencies of the INSociety team, significantly
A recent workshop on the Regulatory Framework of Engineered Living Materials
enhancing their expertise in regulatory strategy, engagement with health
(ELMs) exemplified this collaboration, offering a unique platform to explore
authorities, and the overall management of advanced therapy development.
the regulatory hurdles facing novel technologies. It reinforced the importance
This experience has further strengthened INSociety’s ability to support future
of regulatory dialogue in supporting the development of innovative products
projects in navigating regulatory landscapes and accelerating innovation to
that can ultimately benefit patients across Europe.
market.

94 95
 4.3.2 Medical Technologies SPOTLIGHT ON AI AND
This is the largest sub-sector in the EIC portfolio, accounting for nearly a third of the projects MEDICAL IMAGING
funded under Horizon Europe.

Accelerator Projects Transition Projects Pathfinder Projects The EIC AI and Medical Imaging portfolio brings together a group of innovative SMEs
developing advanced software solutions for radiology and surgery applications,
spanning cardiac MRI, prostate imaging, cardiac ultrasound interpretation, chest
CT analysis, and AI-driven biomarkers.
Surgery and Wound Management
Portfolio efforts under this theme focus on supporting SMEs in tackling common
Point-of-Care Diagnostics
challenges, leveraging opportunities to accelerate their growth, and implementing
Omics collaborative activities that facilitate their scale-up.

Microscopy The first portfolio meeting identified the key hurdles and strategic opportunities
including access to specialised investors, a network of early adopters for commercial
Immunoassays
validation, high-quality datasets for AI training and clinical validation, clarifying
Nuclear Medicine clinical pathways for technology integration, and navigating regulatory approval
processes.
Radiology

Lab-on-chip
These focus areas form the foundation for subsequent collaboration and portfolio-
driven activities, ensuring that the participating SMEs benefit from shared
Organ-on-chip knowledge, strategic networking, and collective problem-solving in the fast-
Clinical Chemistry & Haematology
evolving field of AI-powered medical imaging.

X-Rays & Computer Tomography (CT)

Magnetic Resonance Imaging (MRI)

Ultrasound Systems

Patient Monitoring Systems

Healthcare, ICU & Hospital Systems

Implants and Prosthetics

0 20 40 60 80 100 120

FIGURE 31
Number of EIC projects developing Medical Technologies

96 97
 FEDERICA ZANCA L O M B A R DY R E G I O N
EIC Programme Manager for Medical imaging and AI in
healthcare
Dr. ALBERTO TORRESIN
As part of my proactive portfolio
management, I identified a public procurer Lombardy Region, Università degli
(Lombardy Region, Italy) preparing tenders Studi di Milano
for prostate cancer screening, stroke
Lombardy Region has activated a
management, and lung cancer screening.
multidisciplinary working group aimed
Leveraging the EIC Business Acceleration at the evolution of the Network of
Services’ Innovation Procurement Diagnostic Imaging and Radiotherapy
Programme, I facilitated the connection to ensure the homogeneity of treatment
between this procurer and innovative AI across the territory and the governance
solutions developed by EIC-backed SMEs, of healthcare pathways in line with appropriateness and quality of services.
part of my thematic portfolio.
The EIC, through Programme Manager Federica Zanca, assisted in identifying
These solutions enhance radiologists’ capabilities in cancer detection and stroke and assessing needs in the area of Artificial Intelligence solutions in healthcare,
care, directly addressing the critical healthcare needs identified by the public building a business case, conducting an open market consultation, identifying
procurer. This strategic alignment has already resulted in the public procurer the best procurement strategy and eventual drafting of tender administrative
applying for tender support and planning pilot projects with our SMEs, setting the documents, encouraging more effective adoption of innovation and reducing
stage for transformative improvements in healthcare delivery. risks associated with procurement processes.

Furthermore, a preliminary market consultation between the Lombardy Region

and EIC awardees, facilitated through the Innovation Procurement Programme, has
paved the way for the adoption of these groundbreaking solutions, demonstrating
the EIC’s pivotal role in driving innovation to societal impact.

98 99
 NICOLAB QUIBIM

MEREL BOERS ANGEL ALBERICH-

Founder and Director
BAYARRI
Founder and CEO
Our company benefitted largely from
the support of EIC Programme Manager, Quibim transforms medical imaging data
Federica Zanca, who helped with getting into actionable predictions. We develop
in contact with other AI parties in our pioneering AI tools that unlock imaging
domain and investors, understanding data to improve patient outcomes and
how we can leverage EIC tools and maximise drug programmes, to transform
communities to overcome common imaging into a catalyser of precision
pitfalls and strategically plan for growth, and facilitating introductions, health. The next step is achieving high performance in predictive / prognostic
meetings and materials, and she drove procurement of our innovation with models.
Lombardia Region.
The EIC and Programme Manager Federica Zanca have been fundamental for
Since joining the EIC programme, our company has experienced remarkable the growth of Quibim and its consolidation in the market, acting as the main
growth. Over this period, we have doubled our revenue and significantly driver to convert our research into a product, catalysing our first CE mark and
expanded our impact in healthcare. Last year alone, we supported 57,000 FDA clearance and closing a Series A for USD 50 million.
patients, and real-world clinical data shows that 12% more patients - a total of
6,860 individuals - are now free from severe disability and long-term extensive
care and are able to live independently. We are incredibly grateful for this
support and look forward to continuing our journey with the EIC.

100 101
 5 To maximise its impact, the EIC must
build close partnerships and leverage
investments in key initiatives at EU,
national and regional level.

The EIC has continued to work with the full

EIC set of relevant European funding schemes
and initiatives, including the European
IN THE Research Council (ERC), European
ECOSYSTEM Institute of Innovation and Technology
(EIT), Invest EU, Horizon Europe, and the
Enterprise Europe Network (EEN), to build
a better European innovation ecosystem,
and has also strengthened its partnership
with national innovation agencies across
Europe.

102 103
 5.1
Working with member states and
national innovation agencies The collaboration with Member States extends to partnerships with national innovation
agencies and regional authorities, under which those managing certified national/ regional
programmes can use the EIC Plug-In scheme to submit projects from their portfolio directly
to the full application stage of the EIC Accelerator. It has also resulted in partnership under
The EIC has continued to strengthen its links to national initiatives and 2024 saw Lithuania the EIC Business Acceleration Services such as in the area of innovation procurement.
taking advantage of a mechanism that allows money from EU regional funds to be
transferred to support Horizon Europe projects, thereby expanding the scale of funding on
offer under the Accelerator.

N AT I O N A L C E N T R E F O R R E S E A R C H
S TAT E M E N T AND DEVELOPMENT [NCBR]

Marius
Pr. JERZY
STASIUKAITIS MAŁACHOWSKI
Vice-Minister of Economy and
Director of the National Centre for
Innovation, Lithuania
Research and Development

The Ministry of Economy and Innovation of

Lithuania allocated EUR 12.5 million to the The National Centre for Research and
Horizon Europe Pillar III Innovative Europe, Development (NCBR) of Poland has
for the 2024-2025 period. tested and implemented an innovation
procurement formula to develop innovative zero-emission buildings, heating
Transferring funds to the EIC enabled Lithuania to fund high-quality innovation plant based on renewable energy sources, and effective HVAC systems for
projects that would have otherwise remained unfunded due to limited budgets. school buildings.
The EIC performs the selection of companies for investment through a rigorous,
multi-stage evaluation process that identifies high-potential, high-risk start-ups Through this strategic collaboration with the EIC, NCBR aims to mainstream
and SMEs developing breakthrough innovations. innovation procurement in Poland, opening at the same time important
business opportunities to innovative SMEs and start-ups, including, of course,
The Ministry appreciates that projects funded from transferred resources are the top innovators of the EIC.
selected following the same robust evaluation procedure and therefore does not
intervene. The option to transfer funds to the EIC enhances global competitiveness Spectacular results have encouraged us to continue this model of support,
of Lithuanian researchers and businesses and strengthens our position in the implementing now a EUR 113 million programme, which aims at conducting
European innovation ecosystem, not least because support from the EIC results at least 15 pre-commercial procurements, as well as the enhancement of the
in extensive networking opportunities with top-tier researchers, investors, and capacity of the Polish public sector to carry out innovation procurements.
corporate leaders.

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 5.2 5.3
Leveraging breakthrough research Networking for impact
The European Institute of Innovation and Technology (EIT) is Europe’s largest innovation
The European Research Council (ERC) is the leading European funding organisation for
network, and under the Fast Track scheme, a number of the Knowledge and Innovation
excellent frontier research. The partnership with the EIC has continued, with beneficiaries
Communities (KICs) of the EIT are able to submit projects from their portfolio directly to the
of ERC Proof of Concept projects continuing to perform strongly, representing nearly 50%
full application stage of the EIC Accelerator.
of the projects commercialising the outputs of previously funded research through the EIC
Transition scheme.
M I M A R K D I AG N O S T I C S

MARINA RIGAU
CEO and Co-founder

MiMARK is a women’s health-focused,

women-founded, and women-led
company revolutionising gynecological
diagnostics. We envision gynecological
fluid as the next step in liquid biopsy for
gynecology, unlocking new possibilities
for non-invasive and precise diagnostics.
Founded in 2021 after receiving the prestigious Wild Card grant from EIT
Health, the company has gained strong backing from investors, securing EUR
1.7 million in funding, and gaining support of the EIC Accelerator via the Fast
Track.

The EIC Accelerator has been a game-changer for MiMARK, not only in terms
of funding but also in growing, professionalising, and structuring our company
for scale-up. The EUR 2.5 million in funding has been truly transformative.
MARIA LEPTIN, PRESIDENT OF THE ERC First, it allowed us to double our team and redirect resources that would have
otherwise been allocated to continuous fundraising efforts, giving us financial
The ERC and EIC play complementary roles in advancing research and innovation stability to focus on product execution. With the funding secured, we were able
in Europe and we recognize the strategic importance of our connection. Our to implement an ambitious development plan for our IVD, making decisions
well-aligned systems and continuous collaboration have fostered smooth based on scientific progress rather than immediate financial constraints.
project transitions, scaling groundbreaking ideas into successful innovations.
Beyond funding, the EIC community has provided ongoing mentorship,
Increased funding, independence in decision-making and implementation, and
networking opportunities, and industry connections, making it easier to solve
clear mandates are crucial to maintain this momentum and ensure Europe’s
problems, access strategic partnerships, and feel more integrated into the
competitiveness through scientific excellence and technological advances.
broader ecosystem.

106 107
 ANNEX
LATEST LATEST
KPI PREVIOUS REPORT KPI PREVIOUS REPORT
PERFORMANCE DATA PERFORMANCE DATA

1. Investor of choice for Accelerator: 30% women led 16% women led companies 5. Support high risk, • €850 m for quantum and • €500 m for projects and
innovators with visionary companies (2024) (2021-23) disruptive technologies/ semiconductors companies developing
ideas innovations or applying Artificial
• €725 m for developing Intelligence technologies;
Including: Pathfinder: 22% of project 26% of project coordinators Including increase in or applying Artificial • €500 m for Quantum
coordinators and 23% of and 24% of participants female publications, patents, Intelligence Technologies and
• Increase in support to participants female (2024) (2021-23) investments in key Semiconductors
women-led start-ups and technology areas • €700 m for energy
• Over 150 projects
projects Accelerator: 6 % of SMEs from 9% of SMEs from widening (Methodology to be further generation and storage developing Advanced
widening countries (2024) countries (2021-23) developed)
• Increase support to solutions; Materials
innovators from Horizon • €625 m for biotechnology • €350 m support
Europe widening 15% of Pathfinder participants 12% of Pathfinder participants and investments in
from widening countries (2024) from widening countries (2021- and biomanufacturing
countries Biotechnology.
23) • €500 m for advanced • 1686 unique innovations
materials generated from EIC
2. Crowd-in investors to Co-investment leverage of x3.1 Co-investment leverage of x3.7 Pathfinder projects with >
European deep tech to date under Horizon Europe to date under Horizon Europe • 1,350 unique innovations 75% assessed as market
from EIC Pathfinder creating or targeting an
• Leverage of three to five emerging market4.
(completed) and Transition
in co-investments with
EIC Fund projects, with > 75%
> €12 bn in follow-on funding > €12 bn in follow-on funding3
• Leverage of three to five assessed as market creating
in follow on investments or targeting an emerging
after EIC support market.

3. Increase European >70 centaur+ valuations >150 centaur+ valuations 6. Operational excellence • 261 days to grant • 242 days to grant
scale-ups including 8 unicorns2 Accelerator Accelerator
Including: time from • 183 days to grant for
In particular through EIC application to grant for the • 169 days to grant for Transition
supported start-ups that Accelerator, six months for
Transition • 265 days to grant for
reach centaur and unicorn Transition, and eight months
Pathfinder
valuations for Pathfinder • 260 days to grant for
Pathfinder (Open only)
4. Improve pipeline from 19 ERC Proof of Concept 71 ERC Proof of Concept
research to innovation projects funded through EIC projects funded through EIC
Transition (2021-2023)
Including increase in follow Transition (2024)
up support to ERC and EIT
0 funded ‘fast-track projects 5 funded ‘fast track’ from EIT
projects
from EIT KICs (2024) KICs (2021-23)

10 funded ‘plug-in projects 7 funded ‘plug-in’ projects

through national programmes through national programmes
(2023)
(2024)

3 The 2021-23 figures included companies funded in the period 2014-23, whereas this report excludes all companies, funded 4 The 2023 report covered all Pathfinder projects, both ongoing and completed, while the 2024 report only includes
under the SME instrument phase 2, prior to the launch of the EIC Pilot in 2018 i.e. ~ 850 companies. It also does not include the completed Pathfinder projects and also incorporates Transition projects.
valuations of the most recent cohort of EIC companies funded under the 2024 cut-offs

108 109
Methodology Note

The data about private investment and insights on EIC beneficiary eic.ec.europa.eu
companies has been collected in collaboration with the consortium
led by Jolt Capital and supported by Winnovart as partner (service
contract EISMEA/2024/OP/0013: Business and Investment
Insights for EIC Strategic Intelligence). The approach uses AI
and data analytics to scan publicly available data on beneficiary
@EUeic
companies, and it monitors the progress of private companies by
tracking indicators of innovation and growth, such as investments
(especially venture funding) and IP filings. Valuations are broad
estimates based on available data, and are subject to change. European Innovation Council
and SMEs Executive Agency
The analysis of the EIC Fund portfolio and investors was provided by
the European Commission’s Joint Research Centre (administrative [ EISMEA ]
agreement EISMEA/AA/JRC/WP2023/01: Future-oriented Detection
and Assessment of Emerging Technologies and Breakthrough European
Innovation), and the European Investment Bank who act as Innovation Council
advisors to the EIC Fund.
[ EIC ]
The data about Pathfinder and Transition project outputs uses
information from Innovation Radar experts’ assessment. This is a
tool providing insights about the innovations being created within
the Pathfinder projects. The progress of all EIC Pathfinder projects

#EUeic
is systematically monitored by an Innovation Radar expert.

ISBN 978-92-9412-149-3
doi: 10.2826/1391424
EA-01-25-076-EN-N