Sunday, October 2

Brussels will inject more than 25 million in four Catalan start-ups

The last batch of projects that will receive this year help from the European Comission you already have names and surnames. The accelerator of the European Innovation Council (EIC) has resolved to inject up to 90 million euros in 11 Spanish ‘start-ups’ between grants and rounds of financing to use. Of this amount, approximately one in four euros will end up in four Catalan companies, which will be distributed in total 26 million euros.

According to the information collected by Europa Press, at the moment only the more than 8 million euros that these four companies will take as subsidies are tied. Aortyx, which develops devices to treat vascular diseases, and Sequel Biotech, which works with bioinformatics programs, receive 2.5 million each. The plant-based food company Novameat takes another grant of 1.8 million and the biotechnology Palobiopharma, one of 1.5 million.

The point is that the latter negotiates with the same body a financing round that could reach 15 million euros. And Sequentia could qualify for another 3.5 million. The only condition that Brussels sets to close these and other operations of the kind is that a fruitful negotiation with the fund is reached and that the companies themselves contribute private capital to the round.

Again according to the same agency, the 17 million that Palobiopharma would take in total are, together with another injection of the same amount to which the Alicante company aspires Simplicity, the highest figures of this European endowment to Spanish companies. The intention of the Catalan biotechnology company is to allocate the money to continue developing the first oral drug for chronic pulmonary obstruction.

The biggest round yet

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As the European Commission indicated when making public the names of the chosen companies, this is the largest funding round in the history of this accelerator. It is a total of 627 million euros to be distributed among 99 companies “to help them bring their promising technologies to market.” Of these, 11% operate from Spain, placing the country in third place behind France (16%) and Germany (12%) in the ranking of the most represented territories.

So far in 2021, Spanish start-ups have captured 107 million euros from this body for almost fifteen projects, which places the country as the fifth to receive the highest amount after France (197 million) , Israel (134 million), the Netherlands (124 million) and Germany (123 million).

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