In the framework of the European Union funding programme, 37 of the best European Deeptech startups in series B and C will participate in the EIC (European Innovation Council) Growth Club and will benefit from an acceleration programme for one year, in the framework of the EIC ScalingUp project dedicated to help them reach their growth potential.
Out of the initially selected Top50, 37 deeptech companies will receive acceleration services to guide their growth plan and ambitions. "Deep technologies are already transforming businesses and society. EIC ScalingUp is betting on the potential of 37 deeptech startups in digital, health and sustainability, to develop solutions that will positively shape our future economic, industrial and social activity", mentions Antoine Gourevitch, Managing Director & Senior Partner at BCG, one of the implementing partners.
As stated by Isabelle Bébéar, Director for International & European Affairs at Bpifrance : "the disruptive, ‘never before seen’ nature of deep tech technologies is both a blessing in terms of their potential to transform entire industries, and a curse in the sense that it makes it harder for them to gain the trust of investors. Through EIC ScalingUp, our goal is to de-risk investment in deep tech so that more European deep tech scale ups can pursue the position of world tech leaders. "
The EIC ScalingUp implementing partners will therefore draw on their strategic networks of investors, large corporate partners and innovation agencies to connect the startups part of the EIC Growth Club, with over than 300 significant contacts with the objective of raising over 500 million euros overall. Notably, the project will use Bpifrance’s EuroQuity platform, which hosts the best innovative startups in Europe and Africa to increase their visibility to relevant investors.
"Being the EIC ScalingUp project Coordinator, Tech Tour is proud to serve the EIC Growth Club entrepreneurs to raise their investments, partnerships and the value of their companies. We aim to raise a total of half a Billion Euros for these companies in the next 12 months. So, we invite European investors and partners to take a close look at the EIC Growth Club entrepreneurs and meet them at the roadshow events before their international counterparts lead the transactions", adds William Stevens, Managing Director of the Tech Tour Group.
EIC ScalingUp is one of the European Innovation’s first test projects of scaling up services to foster substantial growth of deep technology innovators, targeting companies seeking Series B/C funding. It is a unique project of the European Innovation Council that supports the scale up of some of the best deeptech companies through crowding-in investors and offers a portfolio of services to support their global expansion. Through EIC ScalingUp, the EIC aims to bring Europe to the forefront of the global innovation and new technologies ecosystem. As mentioned by Massimo Portincaso, the Founder & Managing Partner of Deepwave Ventures, “given the ongoing climate and geopolitical crises, there is an intrinsic need to redo the European economic and industrial tissue. Deep Tech plays a crucial role in it. But it can play the role it deserves only if it can scale, that’s why we an initiative like the EIC ScalingUp program is essential, and we are proud to contribute to it”.
EIC has supported nearly 6,000 SMEs during the pilot phase from 2014 to 2020. As of May 2020, these companies have attracted more than EUR 5.3 billion in private financing (equity, debt, M&A, IPO).