Dutch Innovators Secure Major EIC Funding for Technology Advancements

2025-04-07 community

Amsterdam, Monday, 7 April 2025.
Amsterdam’s Axelera AI and Xeltis among seven firms funded by the EIC STEP Scale Up Scheme, each securing up to €30 million to drive technological innovations.

Groundbreaking Selection Process

The European Innovation Council announced its inaugural STEP Scale Up scheme selections on April 6, 2025, choosing seven companies from an initial pool of 34 proposals [1]. The rigorous evaluation process included 22 companies invited for interviews with independent high-level experts [2]. The scheme represents a significant investment initiative, with a total budget of €300 million for 2025, projected to expand to €900 million between 2025-2027 [3].

Dutch Innovation Leadership

Eindhoven-based Axelera AI and Xeltis demonstrate the Netherlands’ strong position in European innovation [4]. Axelera AI specializes in developing hardware for edge AI applications and chips designed for generative AI and computer vision inference, while Xeltis focuses on revolutionary living implants for cardiovascular function restoration [4]. Each company stands to receive between €10 million and €30 million in investment, with the potential to leverage these funds into larger financing rounds of €50 to €150 million or more [1][5].

Strategic European Investment

Commissioner for Startups, Research and Innovation, Ekaterina Zaharieva, emphasized the transformative nature of the program, stating that ‘The STEP Scale Up scheme is a game-changer for high-growth businesses, offering the vital resources, funding, and expert guidance needed to accelerate expansion’ [1]. The initiative specifically targets funding gaps for high-risk innovations that traditional investors might hesitate to fully support [6]. All investments are structured to ensure companies retain their value and intellectual property within the EU or Associated Countries [6].

Additional Support and Future Prospects

Beyond direct funding, the program offers comprehensive Business Acceleration Services to supported companies [6]. The EIC maintains a continuous evaluation process with quarterly assessment sessions [2]. Four additional companies received the STEP Seal: Leyden Labs (NL), Multiverse Computing (ES), NETRIS Pharma (FR), and Prométhée Earth Intelligence (FR), facilitating their access to alternative funding sources and business support services [1].

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