Quantum tech SMEs chosen in latest EIC Accelerator funding round
The first EIC Accelerator round of 2024 includes grants for quantum computing and quantum-enabling cryogenics, for companies such as Kiutra, QuiX Quantum and Welinq.
The European Innovation Council (EIC) recently announced the selection of 68 companies to receive EIC Accelerator funding after the first evaluation round of 2024. The deep-tech start-ups and SMEs will share an estimated €165mil in grants and €245mil in equity.
The chosen proposals, cover a wide range of innovative and emerging technologies from renewable energy to AI to biomedical applications. Among them, five quantum technology start-ups/SMEswill receive grants for the following proposals:
Kiutra (DE) –Democratizing Cryogenic Measurements for the Quantum Ecosystem
QC Design (DE) –Fault-Tolerant Architectures and Software for Scalable Quantum Computers
Quantum Transistors (IL) – A million qubit quantum computer: highly scalable solid state quantum computing platform with native optical networking
Welinq (FR) –Scaling-up quantum computers with quantum memory links
All five companies will receive ‘blended finance’, i.e. a combination of grants and equity investments, the latter being made through the EIC Fund and typically topped up by capital from external investors.
“I personally consider the EIC Accelerator to be an essential instrument for financing deep tech, high-risk start-ups that are strategically relevant in the EU. The Accelerator will allow us to push our objectives and vision of building Europe's leading quantum photonic products,” Stefan Hengesbach, CEO of QuiX Quantum.
A list of quantum technology companies funded in previous EIC rounds – also under the EIC Pathfinder and Transition initiatives – can be found in our list of projects.
