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European Innovation Council announces new wave of start-up champions

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The European Commission's European Innovation Council has selected 65 innovative start-ups and SMEs to receive €363 million of funding for breakthrough innovations. Each company will receive a combination of grant financing and equity investment of up to €17m to develop and scale up their ground-breaking innovations in health care, digital technologies, energy, biotechnology, space and other. This is the first batch of companies that will be funded under the fully-fledged European Innovation Council (EIC) Accelerator.

Innovation, Research, Culture, Education and Youth Commissioner Mariya Gabriel said: “The EIC Accelerator is a unique European funding instrument of the European Innovation Council. It supports the development of top-class innovations through crowding-in private investors and offers a portfolio of services to support their scaling-up. With the European Innovation Council we aim to bring Europe to the forefront of innovation and new technologies, by investing in new solutions for the health, environmental and societal challenges we are facing.”

The companies were selected following a new two-step process, introduced under Horizon Europe. Applications are rigorously assessed by external experts and followed by an interview with a jury of experienced investors and entrepreneurs. Among the companies selected are:

  • Dutch Sensius BV that developed a thermotherapy system to treat the head and neck cancer without negative side effects;
  • French Alice & Bob that invented a new type of self-correcting quantum hardware to build the world's first fault-tolerant commercial quantum computers;
  • Lithuanian UAB INOVATYVI MEDICINA that developed a smart, sensory, tele-operated robotic system, which allows an endovascular procedure to be performed without exposure to harmful X-rays;
  • Norwegian Bluegrove AS that introduced the most advanced salmon welfare monitoring and prediction solution to take care of fish welfare.

The 65 successful companies are established in 16 countries. The demand for equity financing through the new EIC Fund was particularly high, with 60 out of the 65 companies. This means that €227m out of the total €363m are expected to be in the form of investment component.

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Background

The EIC Accelerator offers start-ups and SMEs grants of up to €2.5m combined with equity investments through the EIC Fund ranging from €0.5 to €15m. In addition to financial support, all projects benefit from a range of Business Acceleration Services that provide access to leading expertise, corporates, investors and ecosystem actors. 

The EIC was launched in March 2021 as a major novelty under the Horizon Europe programme, and following a successful pilot phase between 2018 and 2020. It has a budget of over €10 billion of which approximately €1.1 billion is available in 2021 for the EIC Accelerator. The majority is open to breakthrough innovations in any field, while €495m is earmarked for Strategic Health and Digital technologies and Green Deal solutions.

There were two rounds of direct equity investments under the EIC Pilot earlier this year, in January and in June, with 111 highly innovative start-ups and SMEs receiving more than €500m to scale up breakthrough innovations. Among them there were two ‘unicorn' companies.

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A new start-up friendly application process has been introduced this year, under Horizon Europe, where companies can submit their ideas at any time for an immediate fast assessment. Successful candidates are invited to prepare a full application with the help of free business coaching. The full applications are then evaluated at regular cut-off dates approximately every 3 months. Since March over 4,000 start-ups and SMEs have sent their ideas, of which 801 presented full applications to the first cut-off on 16 June 2021 and a further 1098 to the second cut-off on 6 October, which are now being assessed. The results of this second batch of EIC Accelerator companies will be announced by the end of the year and the next cut-off date is expected in the beginning of 2022.

More information

List of selected companies

Data hub of EIC projects

Register for the EIC Summit

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China

Competition: EU and China meet during 22nd Competition Week to discuss competition policy priorities

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Officials and experts from the EU and China will meet online from 29 November to 2 December 2021 to discuss about their co-operation on competition law and enforcement. The discussions will focus on the green transition and how China's Fair Competition Review System and the EU's State Aid framework can contribute to it. Participants will also discuss mechanisms to control potentially anti-competitive acquisitions in the digital sector and the practical challenges of investigating digital markets. In addition, there will be updates on the proposed revisions to China's Anti-Monopoly Law and recent regulatory and competition policy developments in the EU.

The 22nd EU-China Competition Week follows the longstanding tradition of biannual competition dialogue between the EU and the anti-monopoly enforcement agencies in China. It is part of the Competition Co-operation project, a five-year EU funded programme offering technical co-operation to competition authorities in Asia. It also provides a platform for exchanges on competition policy between the European Commission Directorate-General for Competition (DG Competition) and the Chinese State Administration for Market Regulation (SAMR). The objective is to exchange experiences and strengthen convergence in competition policy, to the benefit of citizens and businesses in both the EU and in Asia. More information about the European Commission's bilateral dialogue with China in the field of competition policy is available on the Commission's website.

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coronavirus

Commission hosts second matchmaking event to speed up the development and production of COVID-19 medicines

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Today (30 November), the Commission is hosting a pan-European matchmaking event to accelerate and upscale the development and production of COVID-19 medicines in Europe, as part of the actions under the EU Strategy on COVID-19 Therapeutics. Following a first matchmaking event on COVID-19 medicines in July 2021 and a previous matchmaking event on COVID-19 vaccines in March 2021, this event aims at strengthening the participation of EU companies in value chains for COVID-19 therapeutics and speeding up connections among the participants. It also broadens the focus: from therapeutics specifically used to treat COVID-19, to also including those used to treat the symptoms of COVID-19, as well the production of disposable materials, such as syringes, and ingredients needed for making such medicines.

The event gathers companies from the European Economic Area as well as other businesses and organisations included in the portfolio of 10 most promising treatments, presented by the Commission in the follow-up to the COVID-19 Therapeutics strategy. In order to facilitate matchmaking events, the Commission issued a comfort letter in March 2021 (based on the Antitrust Temporary Framework adopted by the Commission on 8 April 2020) providing guidance, relevant also for this event, on how the matchmaking and exchanges between participating companies, including direct competitors, can take place in compliance with EU competition rules. The matchmaking event is organised by the Commission's Task Force for industrial scale-up of COVID-19 vaccines and therapeutics, in close co-operation with the European Cluster Collaboration Platform. The event is also hosted in partnership with the Council of European BioRegions (CEBR) and the European Cluster Alliance (ECA), which are supporting the Commission in running an EU survey to assess EU capacities for COVID-19 therapeutics production. More information about the event is available here.

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European Commission

President von der Leyen addresses the special session of the World Health Assembly of the WHO

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On 29 November, Commission President Ursula von der Leyen (pictured) addressedthe World Health Assembly of the World Health Organization (WHO), which gathers between 29 November and 1 December for its second-ever special session. The President welcomed the Assembly's decision to start negotiations towards an international instrument to strengthen pandemic prevention, preparedness and response. Following the emergence of the Omicron variant, President von der Leyen commended the leadership of South Africa's President Cyril Ramaphosa, underlining that South Africa's analytical work and transparency have allowed a swift global response to save lives. She praised South Africa as an example of international cooperation in times of cross-border health threats.

Building on the Global Health Summit of May and on the G20 Summit last month, President von der Leyen reaffirmed the EU's commitment to uphold equity, good governance, multilateral cooperation and solidarity as the only ways out of the current health crisis. The European Union and its Member States will continue working to help achieve the global vaccination target of 70% in 2022 and will support capacity building for sequencing, testing, treatments and vaccination. In this sense, the President confirmed that the EU aims at sharing at least 700 million vaccine doses by mid-2022 with low and middle-income countries. That is on top of the €3 billion in financing that the EU provided to help create the ACT-Accelerator for global vaccination through COVAX and the ongoing efforts to develop vaccine manufacturing in Africa and in South America. The full speech is available here and can be re-watched here.

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