The European Commission selected innovative deep-tech startups after this year’s second EIC Accelerator cut-off in June. The companies were chosen in a highly competitive process, which can be classified as the flagship of European investments. 

EIC jurors interviewed 232 companies out of more than 1000 applications, with a jury panel consisting of industry-leading experts, investors, and entrepreneurs throughout Europe. 

The EIC says they thoroughly examine and evaluate each proposal provided by SMEs.

The European Innovation Council (EIC) was established under the EU Horizon Europe programme. It has a budget of €10.1B to support game-changing innovations throughout the lifecycle from early-stage research to proof of concept, technology transfer, and the financing and scale-up of startups and SMEs.

IMSystems: What you need to know

Founded by Jack Schorsch in 2016, Innovative Mechatronic Systems (IMSystems) develops, produces, and markets the patented Archimedes Drive.

Unlike gear teeth, IMSystems’ Archimedes Drive uses tractive contact to transmit torque. As a result, it increases robots’ production throughput while reducing energy consumption. 

The company claims that Archimedes Drive is available in ratios up to 10,000:1 – almost 100 times its nearest competition. In addition, the Dutch company says it delivers high torque in a fraction of the volume of other speed reducer technologies and does it with precision approaching 1 arc-second.

“We are very pleased with this announcement of EIC,” says Schorsch who is also the inventor of the Archimedes Drive. “With this fund, the European Innovation Council recognises the importance of investing in robotic technologies, vital for the growing demand for high precision industrial automation.”