The European Commission announced the successful companies who applied for the European Innovation Council Accelerator. LiveEO is one of the 74 successful companies selected and will receive a grant of €1.7m to further develop its offering.
The project LiveEO applied with, titled EOinTime, focusses on time series analysis and near real time monitoring based on satellite data. The goal ist to offer a holistic monitoring service for infrastructure networks using cutting-edge machine learning algorithms to identify external threats and predict future impacts.
The EIC Accelerator offers start-ups and SMEs grants of up to €2.5 million combined with equity investments through the EIC Fund ranging from €0.5 to €15 million. In addition to financial support, all projects benefit from a range of Business Acceleration Services that provide access to leading expertise, corporates, investors and ecosystem actors.
We are incredibly proud and thankful to have been selected as one of the successful companies amidst the very strong competition of innovative companies from all over Europe.
Background information
The EIC Accelerator offers start-ups and SMEs grants of up to €2.5 million combined with equity investments through the EIC Fund ranging from €0.5 to €15 million. In addition to financial support, all projects benefit from a range of Business Acceleration Services that provide access to leading expertise, corporates, investors and ecosystem actors. While there have been delays to funding companies selected in 2021, the EIC is rapidly catching up on this backlog and the new set of companies announced today are expected to receive their support much faster.
Companies can submit their ideas to the EIC Accelerator at any time. For ideas meeting the EIC criteria for excellence, impact and risk-level, companies are invited to prepare full applications to submit to one of the regular cut-off dates.
Since its launch in March 2021, over 6,000 start-ups and SMEs have sent their ideas and almost 3000 have submitted full applications. The companies announced today were among the 1093 who submitted to the first 2022 cut-off on 23 March, and join the 164 companies selected for funding by the EIC in 2021. The next cut-offs for full applications is 15 June and 7 October.