Scarab’s licensee Xzero receives a grant of 1.3 M€ from EU

Xzero’s ULTRAWAT project is one of 57 projects that was selected in February 2018 of 1154 eligible applications to the new European Innovation Council (EIC) pilot program. Xzero will receive 1.3 M€ for a two years industrialization and market launch program.

Here is an excerpt from a media statement from EU:

“57 top-class innovators selected for funding under EIC SME Instrument 

A total of 57 small and medium-sized companies  from 17 countries have been selected for funding under the latest round of the SME Instrument. This is the first round of small businesses selected under the recently launched European Innovation Council (EIC) pilot. The companies, selected following face-to-face interviews with a jury of innovators, entrepreneurs and venture capitalists, will receive a total amount of €94.25 million to share between their projects to scale-up and internationalize.

Examples of the projects selected include a 3D printer for food; an innovative treatment for breast cancer; a virtual reality and augmented reality headset capable of human eye resolution; a multi-active cardboard packaging that extends the shelf life of vegetables by 40% and a new type of biodegradable bioplastic.

Carlos Moedas, European Commissioner for Research, Science and Innovation, said: “With the European Innovation Council pilot, we set out to support high-flying entrepreneurs with breakthrough ideas and a clear ability to create new markets. This very first group of innovators certainly has that potential.”….

Each project will receive up to €2.5 million to finance innovation activities such as demonstration, testing, piloting and scaling up. In addition, the companies will also benefit from 12 days of free business coaching and business acceleration services.
Excerpted from: (update: 3 May 2021, no longer available).