EIC Funding Advancements and Innovations in NeuroTech
Spotlight on NeuroTech NeuroTech, a groundbreaking sector within health-related technologies, is rapidly evolving at the intersection of advances in neuroscience and digital technologies. This innovative field focuses primarily on detecting and utilizing signals from the brain that carry and process sensory, cognitive, and motor information. As a result, we are beginning to witness a new generation of technologies capable of identifying and treating a variety of neurological conditions, such as depression, Parkinson’s disease, Locked-In syndrome, and spinal cord injuries. The European Innovation Council (EIC) has been at the forefront of supporting this transformative sector, having invested approximately EUR 200 million in over 60 cutting-edge research projects developed by pan-European research teams. These initiatives are dedicated to delivering non-drug-based treatments to assist individuals suffering from neurological conditions. From the foundational understanding of brain functions fostered by the EIC Pathfinder program to the large-scale production and delivery of groundbreaking medical devices through the EIC Accelerator, the EIC aims to support the entire research and innovation chain and facilitate the development of essential neuromodulation technologies. ONWARD: Pioneering Brain-Spine Interface (BSI) Technology Among the notable projects supported by EIC funding is the Brain-Spine Interface (BSI) technology developed by ONWARD. This innovative project aims to restore mobility in individuals who have suffered spinal cord injuries. In 2022, ONWARD received a substantial EUR 3.6 million EIC Pathfinder grant, which was awarded to support collaborative efforts among its distinguished research partners. These include EPFL, one of the world’s foremost neuroscience research institutions, CEA-Clinatec, the Edmond J. Safra Biomedical Research Centre, and Sint Maartenskliniek, a leading rehabilitation centre specializing in spinal cord injuries. The funding from the EIC Pathfinder is enabling the consortium to merge ONWARD’s Academic Research in Complementary and Integrative Medicine Therapy with Clinatec’s WIMAGINE, an advanced, fully-implantable device that records and decodes the brain’s cortical signals. This technology is designed to predict a person’s desired movement intentions, thus offering a significant leap forward in the rehabilitation of spinal cord injuries. Two clinical feasibility studies will be conducted to assess the effectiveness of their Brain-Spine Interface system in enabling control and rehabilitation of both upper and lower limbs; each study will include two participants. In addition to the EIC Pathfinder grant, the project has also been awarded an EIC Transition grant, enabling the team to test the usability of a commercially viable BSI system for individuals with spinal cord injuries. This transition from research to potential market-ready solutions is crucial for ensuring that the innovative technologies developed under EIC funding can have real-world applications and benefit those in need. The Importance of EIC Funding and Its Impact on NeuroTech The EIC plays a vital role in providing funding to startups and small-to-medium enterprises (SMEs) through various programs, including the EIC Accelerator and EIC Transition funding. The EIC Accelerator program focuses on supporting innovative startups and SMEs that aim to scale their projects through non-dilutive funding options, including grants and equity. It is essential for emerging companies in the NeuroTech sector to understand the different funding opportunities available, as well as the eligibility criteria defined by the EIC Accelerator, to maximize their chances of success. To improve their odds when applying for EIC grants, applicants can benefit from the EIC Accelerator tips and strategies, which include adhering closely to the EIC Accelerator evaluation criteria and participating in EIC Accelerator coaching services. These resources assist entrepreneurs in refining their proposals, thereby increasing their likelihood of securing funding. Additionally, by exploring best practices for EIC Accelerator application writing, startups can significantly enhance the quality and competitiveness of their submissions, which is critical as the EIC Accelerator application deadline for 2025 approaches. Future of NeuroTech and EIC’s Role The future of NeuroTech is promising, particularly with the backing of EIC funding opportunities aimed at deep tech startups. As the landscape of healthcare technology continues to evolve, innovations driven by the understanding of neuroplasticity, brain-computer interfaces, and integrated therapeutic modalities will likely redefine treatment paradigms for neurological conditions. Through initiatives like the EIC STEP Scale-Up and Horizon Europe EIC, the European Union aims to bolster funding for deep tech startups, thereby facilitating advancements in NeuroTech that could lead to life-changing therapies and devices for millions globally. The availability of equity-free grants for startups and EU grants specifically tailored for deep tech initiatives ensures that groundbreaking projects can access requisite resources without sacrificing ownership or control. As we move forward, collaboration among researchers, entrepreneurs, and funding bodies such as the EIC will be essential to unlock the full potential of NeuroTech. The continuous pursuit of innovation in this sector not only paves the way for advanced medical interventions but also champions a future where neurological disorders can be effectively managed. In summary, the NeuroTech landscape is undergoing a significant transformation, fueled by breakthroughs in neuroscience and supported by funding initiatives from the EIC. Projects like ONWARD’s Brain-Spine Interface technology are only the beginning of what could be achieved when innovation meets financial support in this crucial field.