Medtech startups land European Innovation Council accelerator funding

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European medtech startups were among 74 companies receiving a total of €382 million in grants and investments, the European Innovation Council Accelerator 2022 said this week.

Each company will be eligible for up to €17.5 million (approximately US$18.8 million) in grants and equity investments. Most of the funding will be available in the next two to three months, with equity investments expected to be finalized this fall.

Startups include Estonia-based Seventh Sense, which uses telehaptics to help blind and visually impaired people navigate their environment, and Finland-based Tilt Biotherapeutics, which is developing a new oncolytic immunotherapy for ovarian, cervical cancer. head and neck and lung.

“The new wave of innovation is currently being led by high-tech start-ups that target societal challenges,” said Commissioner for Innovation, Research, Culture, Education and Youth, Mariya Gabriel. Press release. “I’m glad to see that so many are applying for the IEC, especially from countries that are catching up on their research and innovation performance levels. Through the European Innovation Council, they will get the support they need to accelerate their growth and lead the next wave of deep technologies. »

The companies were among more than 1,000 startups and small and medium-sized businesses that applied for funding. A complete list of winners is available here.

Companies can apply for funding at any time, but those whose ideas meet the EIC’s criteria of excellence, impact and risk level are encouraged to prepare full applications to be submitted before the deadlines. The next deadlines are June 15 and October 7.

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