Nine Israeli startup companies have been awarded a total of 108 million euros from the EIC Accelerator Programme, as the Israel Innovation Authority announced in July. With this number of recipients, Israel ranks third in Europe among companies awarded funding, following Germany and France. EIC Accelerator is part of Horizon Europe, the EU’s current Framework programme for research and innovation.
This achievement underscores Israel’s robust presence in the European startup ecosystem, demonstrating the country’s innovative prowess and the high quality of its entrepreneurial ventures. The funding will support these startups in various high-impact sectors, positioning them to make substantial advancements and compete on a global scale.
Dror Bin, CEO of the Israel Innovation Authority: ‘This impressive achievement demonstrates the high capabilities of Israeli startups and their competitiveness in the global market. We are proud to see these companies achieve such significant milestones in the Horizon program.’
The Israeli companies awarded the prestigious grants are: LightSolver Ltd, JAXBIO Technologies Ltd, Nurami Medical Ltd, SPACEPHARMA R&D Israel Ltd, Reophotonics, Impact Biotech Ltd, RAAAM Memory Technologies Ltd, Quantum Transistors Technology, and MediWound Ltd. These companies operate in diverse fields, including chips, health, quantum, and space, encompassing both relatively young companies and more mature companies with proven market experience.
The EIC Accelerator programme offers the winning companies a mixed funding model that includes a grant of up to 2.5 million euros and equity investment of up to 15 million euros. Additionally, the programme provides mentoring and business development to accelerate the growth of the companies and transform them into leading players in the global market.
Shlomi Kofman, International Deputy CEO of the Israel Innovation Authority, said: ‘The high Israeli participation in the EIC Accelerator programme highlights the competitive advantage of Israeli startups. The programme allows them to receive funding and mentoring, thereby helping them accelerate their growth and realise their economic and social potential. Since the start of the Horizon Europe programme in 2021, 32 Israeli companies have already received a grant and/or investment under the EIC Accelerator programme. This success places Israel among the top five participating countries in the programme.’
Source: Israel Innovation Authority