The European Commission’s European Innovation Council has selected Askel as an innovative start-up to receive EUR 2.5 million of funding

17.12.2021

Largest-ever funding round from the European Innovation Council Accelerator with 99 innovative companies spread spanning 21 countries set to receive EUR 627 million to develop and scaleup game-changing innovations.

The companies were selected following a rigorous process, introduced under Horizon Europe, involving an ideas screening stage, and full applications assessed by external experts and an interview with a jury of experienced investors and entrepreneurs.

Askel’s team is excited to receive this prestigious grant. “This EUR 2.5 million funding enables us to carry out the first-in-man clinical trial of our innovative cartilage repair device. Ultimately, it helps us to help millions of people who are suffering from painful cartilage damage to regain pain-free and active life”, says Dr. Virpi Muhonen, the CEO and co-founder of Askel Healthcare. “EU funding of this calibre is a great validation for Askel’s mission, and I couldn’t personally be happier for our team who has worked hard to get where we are today”, she continues.

Background information

The EIC Accelerator offers start-ups and SMEs grants of up to EUR 2.5 million combined with equity investments through the EIC Fund ranging from EUR 0.5 to EUR 15 million. In addition to financial support, all projects benefit from a range of Business Acceleration Services that provide access to leading expertise, corporates, investors and ecosystem actors.

https://eic.ec.europa.eu/news/largest-ever-funding-round-european-innovation-council-accelerator-99-innovative-companies-set-2021-12-16_en

 

For more information, please contact:

Virpi Muhonen, CEO, +358 40 489 3840

<< Back