Romania company among the 75 start-ups selected by the European Commission for funding through an innovation fund

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The European Commission has selected 75 innovative start-ups, including a company from Romania, after the second deadline for assessing applications for funding through this year’s European Innovation Council (ERC) Accelerator in June, according to a press release from the EU executive, quoted by Agerpres.

Amsimcel SRL, a Romanian start-up specialized in high-performance computing for accelerating integrated circuit design, deep learning and verification of complex systems, has proposed the hyperPV project, the first physical verification framework powered by graphics processing units (GPU).

These 75 innovative start-ups were selected following a highly competitive process in which 232 companies were interviewed by juries of experienced investors and entrepreneurs. In total, they will receive almost €400 million in funding in a combination of grants and equity investment. The equity investments will be made through the CEI Fund, which is now fully operational. The selected enterprises are geographically widespread, coming from 21 countries. 20% of them have female CEOs.

Since the launch of the ERC in March 2021, over 7,000 start-ups and SMEs have submitted their ideas and over 4,000 have submitted full applications. The businesses announced on Monday were among 1,006 that were invited to interview after the second deadline in 2022 on 15 June, and join the 238 that the CEI has selected for funding in 2021 and 2022.