Protinhi Therapeutics successful in EIC Accelerator
Venture Challenge alumnus Prothinhi Therapeutics was one of the 11 Dutch companies that were successful in the latest IEC Accelerator round, together they raised €77mln.
The European Commission selected 78 innovative companies under the latest 2022 EIC Accelerator cut-off. They are set to receive up to €470 million of funding in a combination of grants and investments. The companies were selected from over 1000 start-ups and SMEs that submitted a full application for funding for the 5 October 2022 cut-off, of which 240 were interviewed by juries of experienced investors and entrepreneurs.
The selected companies will each receive grants and/or equity investments, depending on their needs, up to €17.5 million. The equity investments will be made through the EIC Fund which is now fully operational. Blended finance (57%) remains the dominant funding type compared to ‘grant first’ (27%) and ‘grant only’ (16%) options, despite an increase in grant first applications invited to an interview (approx. 35%) compared to the March and June cut-offs. Selected companies have a geographical spread spanning 17 countries. 15% of the companies have female CEOs.
Source and read more: European Commission