Eight early-stage Israeli startups have been awarded €50,000 ($57,000) grants from the European Commission’s SME Instrument Program, which helps small- and medium-sized businesses advance development of products judged to be of high potential importance for Europe and beyond.
Nineteen percent of Israeli companies that submitted applications won grants, more than double the 8.7 percent rate of all European companies that filed proposals.
Most of the grantees specialize in the environment and alternative energy: DryGair Energies, which is developing an energy-efficient and fluoride-free greenhouse dehumidifier for warm climates; PowerSines, creators of a universal energy controller that optimizes voltage use, enabling electrical savings and carbon monoxide reduction; Solight, which is developing an innovative solar lighting system to replace artificial lighting in all types of indoor spaces; TerraGenic, which is developing a substitute hydrogen fuel that will enable phone batteries to hold five times as much power, be fully rechargeable in seconds and last five days between recharging, and ThermaSphera, whose high-efficiency energy storage system captures energy generated from renewable sources, waste energy from industry, and solar radiation in a compressed fluid and heat-pump hybrid system.
The others are Access for Life, which is developing an implantable device for patients with chronic vascular disease; BreedIT, which facilitates data collection and digitalization for plant breeding; and MMA Tech, developers of an innovative polymer for artificial joints like knees and thighs that is resistant to wear and erosion.
“The SME Instrument Program opens a door to innovative companies that would not receive such funding if they turned to venture capital funds,” said Avi Hasson, chief scientist of the Israeli Ministry of Economy and Industry. “This is because innovation in this program is not only in popular fields such as mobile or cybersecurity, but also in less prominent fields. Qualifying for SME Instrument grants is a hallmark for these Israeli companies.”
(via Israel21c)
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