€108 Million Awarded to Israeli Startups by European Innovation Council's EIC Accelerator Program, Part of Horizon Europe
With 9 recipients, Israel ranked third in Europe for the number of companies awarded funding, following Germany and France
The Israel Innovation Authority announced today that nine Israeli startup companies have been awarded a total of € 108 million from the European Innovation Council’s EIC Accelerator Program, which is part of the Horizon Europe program. The funding will support these startups in various high-impact sectors, positioning them to make substantial advancements and compete on a global scale. 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.
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 program offers the winning companies a mixed funding model that includes a grant of up to €2.5 million and equity investment of up to €15 million. Additionally, the program 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 program highlights the competitive advantage of Israeli startups. The program allows them to receive funding and mentoring, thereby helping them accelerate their growth and realize their economic and social potential. Since the start of the Horizon Europe program in 2021, 32 Israeli companies have already received a grant and/or investment under the EIC Accelerator program. This success places Israel among the top five participating countries in the program.”
About ISERD:
ISERD (Israel-Europe R&D Directorate), the Israeli management body for the Horizon program at the Israel Innovation Authority, serves as an entry point for Israeli companies and researchers into the European Horizon Europe framework program. This program provides researchers and companies with numerous advantages beyond generous funding grants, including upgrading research quality, recruiting quality personnel, and investing in advanced equipment. The program places its participants at the forefront of global research on issues of economic, environmental, and social importance and allows them to test the feasibility of proposed solutions in diverse markets with potential customers.