The European Innovation Council (EIC) spoke to the participants of its recent ePitching on Information and Communications Technology (ICT) to find out the main takeaways of this online event.
From Virtual Reality (VR) to Artificial Intelligence (AI) solutions, with applications as distant as healthcare, voice, video content production and project management, this was an opportunity to showcase the diversity of EIC innovators working in the ICT area.
The event included pitches from Gleechi AB, Nyris, VOISEED, Multiverse Computing, Compira Labs, Lili.ai and MYSPHERA.
This was the latest ePitching under the EIC Ecosystem Partnerships and Co-Investment Support programme, part of the ongoing effort to bridge the funding gap for Europe’s most innovative companies.
How the EIC is going beyond funding support
VOISEED is developing an AI-based virtual voice engine. This technology can be applied for voice production and even dubbing: users are able to produce content in multiple languages with a large variety of voices and styles.
Andrea Ballista, Co-Founder of the Millan-based company, explains that their solution can mimic any voice, any expression, in any language. The challenges of developing this entirely new technology led VOISEED to start what he calls their adventure with European funding, during which they discovered that the EIC was actively introducing companies to Venture Capital (VC).
What the EIC is doing is really amazing. We are working in different perspectives to revitalize the Venture Capital scenario in Europe, and we are building a very important component of the European future, and the EIC is on the frontline.” Andrea Ballista, Co-Founder of VOISEED.
To Ballista, attending the event was a great opportunity for the company, as reaching out to VCs is an essential part of what they are trying to achieve. Although they are working to attract private investment through other channels, EIC events can make a difference. He stresses that “technology requires resources and experience and innovation, and Venture Capital plays a very important role in the process.”
This idea is shared by other EIC innovators, such as Markus Lukasson, Co-Founder and CTO of Nyris. The German company provides a visual search software that allows users to search for products using images, rather than keywords: users can find any product in seconds, saving thousands of hours of wasted search time.
Lukasson sums up the need for Venture Capital by saying that “money is like fuel” for growing companies.
“These events are specifically interesting because I think they draw investors from Europe interested in investing in European companies that have already been selected by the EIC”, mentioned Markus Lukasson, Co-Founder and CTO of Nyris.
To Lukasson, it’s important to take each chance to pitch your company to investors. What makes EIC events particularly interesting, he adds, is that they specifically target European capital and draw in investors that are already interested in EIC-funded companies.
Lukasson is confident about the company’s chances of getting follow-up interactions from the event, and highlights that it is easier to get introduced to VCs after you’re pitched to the right people, rather than when you are unknown.
An interesting space for deep tech investors
To Nick Bourne, Investment Manager at CNB Capital, what makes EIC companies stand out is the nature of the technologies they develop.
“As an investor with a deep tech focus, we acknowledge the importance of organizations like the EIC in developing deep tech startups, which require that additional funding in order to develop”, said Bourne.
Deep tech companies often have longer growth trajectories and require additional funding assistance. Bourne highlights that public funding plays an important role in helping these projects, and that the sort of innovation some EIC-funded startups develop is one that CNB Capital likes to focus on.
Due to the broad reach of the EIC, he adds, attending the ePitchings can also be a way of boosting a fund’s profile, and the introduction and feedback jury members provide can also make them attractive to companies in the future.
“When [EIC innovators] come to us, they are not companies that are raising from scratch”, pointed out Elisabetta Vesconi, Investment Associate at Planven Entrepreneur Ventures.
Vesconi lists getting to know potential companies and networking with other investors as her main reasons for attending the event.
On the investor networking side, the event was a success. Vesconi reveals that she has already reached out to other investors to set up calls on their investment strategies. However, she also mentions that she was interested in learning about the EIC’s “reality” and work. Though not all participating companies were under Planven’s investment scope, they are following up with one of them.
Get to know the EIC innovators
You can find more information on the companies who took part in the event here.
The next investors events are:
- EIC ePitching with BPIFRANCE-EUROQUITY on VR&AR on 22 September, between 12H30 and 14H00 CEST. Investors are welcomed to join the Zoom Meeting here.
- In-person EIC Investor Day on Software & Hardware on 31 October, in Lisbon. Interested investors are invited to register here.
About the EIC Ecosystem Partnerships and Co-Investment Support Programme
The Ecosystem Partnerships and Co-Investment Support Programme is expanding the EIC’s Business Acceleration Services (BAS) by creating a network of specialized, sector-focused partners that can help innovators access the services they need. It is also dedicated to promoting co-investment along with the EIC Fund, by preparing beneficiaries to interact with investors and connecting them through matchmaking and dedicated events.
