Three Irish companies to receive total of €22.4m from EU accelerator fund

Enterprise Ireland leads the National Support Network for Horizon Europe. Pictured: Leo Clancy, Enterprise Ireland CEO

Caoimhe Gordon

Three Irish-based businesses have been approved for a total of €22.4m in funding from the European Innovation Council (EIC) Accelerator Programme.

The funds are made available by Horizon Europe, the EU’s €95.5bn funding programme for research and innovation.

The EIC accelerator provides funding to high-potential high-risk startups and SMEs.

It offers grants up to €2.5m combined with equity investment ranging from €500,000 to €15m in a blended finance offer.

The three Enterprise-Ireland nominated companies were chosen from 476 applications from businesses across Europe.

Technology from Ideas, which has developed mooring technology for floating offshore wind and aquaculture projects, was awarded blended finance.

Nemysis, which is set to receive grant funding, is focused on the development of the first ever preventive treatment for coeliac disease and gluten sensitivity.

Versonso Medical was also awarded grant funding.

It is developing a new technology platform for endovascular surgery that is focused on preventing amputation in patients with chronic total occlusions from critical limb ischemia.

Ireland has now received €110m in funding since the introduction of Horizon Europe’s programme in 2021 and now ranks in second place for funding approved after the Netherlands.

"Ireland’s overall success in the Horizon Europe EIC programme, supported by Enterprise Ireland in our National Contact Point capacity, shines a spotlight on the innovation and capability of our companies to compete on a global level,” Enterprise Ireland chief executive Leo Clancy said.

"It is particularly welcome to see a company from the marine renewable energy sector feature on this occasion,” he added.