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(05 December 2019) - The European Commission has selected 75 promising start-ups and small and medium-sized enterprises (SMEs) in the largest funding round so far of the pilot phase of the European Innovation Council (EIC).

Startup
© Kai Stachowiak

As a major novelty, 39 of these companies are set to receive both a grant and a direct equity investment.

This new type of “blended finance” of a grant and a direct equity investment will allow a much higher level of funding (up to €17.5 million per company) to accelerate growth and help companies market ground-breaking innovations.

The selected companies are embarking into major innovations, such as creating the first global Internet of Things network using low-cost low-orbit satellites, producing sustainable fuel using organic material, or developing technologies powered by Artificial Intelligence to transform the lives of patients with severe brain injuries.

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