The program supported 71 more European companies for a total of 387 million euros
The European Innovation Council (EIC) has announced the results of the October 2024 funding round of the Accelerator program, in which the Portuguese company PfxBiotech, based at UPTEC in Porto, has secured funding of 9.5 million euros (M€). The company will use this support to scale up the production of human milk proteins through precision fermentation, starting with lactoferrin, a bioactive protein with applications in infant nutrition and advanced nutrition for populations with specific needs.
In this round, the EIC supported 71 companies out of 1,211 applications, awarding a total of 387 million euros. Among the participants, 16 national companies stood out, highlighting Portugal’s growing presence in the program.
Since the launch of the EIC Accelerator in 2021, 16 national deep tech companies have already obtained funding, totaling €91.5M. The program supports tech startups and SMEs, offering up to €2.5M in non-repayable grants and equity investments of up to €10M. In addition to funding, the companies benefit from business acceleration services and access to international investors.
ANI has been a strategic partner in supporting national participation in the EIC, through the network of National Contact Points for Horizon Europe and the Enterprise Europe Network (EEN).
António Grilo, president of ANI, points out that “Portugal’s performance in the EIC Accelerator represents an opportunity to boost deep tech businesses, attract and retain talent and strengthen the presence of national technology SMEs in international markets”.
