1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support innovative startups and small and medium-sized enterprises (SMEs) in Europe. This program aims to bridge the funding gap that often exists for high-risk, high-reward projects in deep tech sectors. The EIC Accelerator provides both grant funding and equity investments, enabling companies to scale their innovations and bring advanced technologies to market. The program prioritizes projects that have a significant potential for societal impact, technological advancement, and economic growth.

Funding Structure

The EIC Accelerator offers a unique funding structure that includes:

1. Grant Funding: Companies can receive grants of up to €2.5 million. This funding is non-repayable and is intended to support the development and commercialization of innovative solutions. It can cover a wide range of project-related expenses, including research and development, prototyping, and initial marketing efforts.

2. Equity Financing: The program also provides equity investments, which are designed to complement the grant funding. Until 2024, companies could secure equity investments of up to €15 million. From 2025 onwards, this amount has been adjusted to a maximum of €10 million. This equity funding enables startups to access larger capital amounts to fuel growth while also allowing the EIC to share in the potential future financial success of these innovations.

The dual funding approach empowers companies to pursue ambitious projects that may not attract traditional venture capital due to their high-risk nature.

Purpose in the DeepTech and Startup Ecosystem

The EIC Accelerator plays a pivotal role in the European DeepTech and startup ecosystem by fostering innovation and accelerating the development of groundbreaking technologies. It provides essential financial support that enables startups to overcome initial barriers and scale effectively. By focusing on deep tech, the EIC Accelerator emphasizes sectors that leverage advanced technologies, including artificial intelligence, biotechnology, and renewable energy.

Moreover, the program not only provides funding but also offers valuable mentoring, networking opportunities, and access to a broader business ecosystem. This holistic approach enhances the likelihood of success for innovative projects, encouraging private sector investment and collaboration.

Role in Scaling Companies and Securing Private Sector Funding

The EIC Accelerator serves as a catalyst for startups to scale their operations and secure additional funding from private investors. By providing initial funding and validation through its competitive selection process, the program enhances a company's credibility in the eyes of potential investors. Successful completion of the EIC Accelerator stages demonstrates a project’s viability and market potential, making it more attractive for private financing.

Additionally, the EIC Accelerator's support can help startups refine their business models, improve their market strategies, and optimize their technology development, ultimately leading to greater investor confidence and interest.

AI4MedImaging Medical Solutions S.A. and the AI4CMR Project

Overview of AI4MedImaging Medical Solutions S.A.
AI4MedImaging Medical Solutions S.A. is a Portugal-based company specializing in artificial intelligence applications for medical imaging. The company focuses on advancing healthcare technologies to improve diagnostic accuracy and patient outcomes.

AI4CMR Project Description
The AI4CMR project, which stands for "AI-based clinical software for fully automated Cardiac Magnetic Resonance reporting," represents a significant advancement in cardiac imaging. The project aims to develop a sophisticated AI-driven platform that automates the reporting process for cardiac magnetic resonance imaging (CMR). This technology is designed to enhance the efficiency and accuracy of cardiac assessments, providing healthcare professionals with timely and reliable insights.

Technology Basics and Background

The technology behind AI4CMR leverages machine learning algorithms to analyze cardiac imaging data. The automated reporting system is trained on vast datasets of CMR images, allowing it to recognize patterns and identify critical features relevant to cardiac health. By automating the reporting process, the AI system minimizes the potential for human error, reduces the time required for analysis, and streamlines the workflow for radiologists and cardiologists.

The project addresses several key challenges in cardiac imaging, including variability in reporting standards, time constraints faced by healthcare professionals, and the increasing demand for high-quality diagnostics. By implementing AI in this domain, AI4MedImaging aims to not only improve the accuracy of cardiac assessments but also enhance overall patient care through timely interventions.

In summary, the EIC Accelerator program is instrumental in supporting innovative startups like AI4MedImaging, providing them with the necessary funding and resources to develop transformative technologies that have the potential to reshape the healthcare landscape. The AI4CMR project exemplifies the impact of such initiatives, highlighting the importance of AI in revolutionizing medical imaging and improving patient outcomes.

2 The Funding Rounds

AI4MedImaging Medical Solutions S.A.: Post-EIC Accelerator Funding Overview

AI4MedImaging Medical Solutions S.A., a Braga-based company specializing in AI-driven cardiac imaging solutions, secured EIC Accelerator funding under an agreement signed in August 2022. While specific financing amounts for their EIC grant remain undisclosed in public records, the company has since focused on commercializing its flagship product, AI4CMR, which delivers fully automated ventricular segmentation and functional analysis for cardiac MRI within 50 seconds.

Post-Funding Developments:

Product Certification: AI4CMR achieved CE-MDR and FDA certification, positioning it as a clinically validated tool for cardiac imaging workflows.
Strategic Alliances: Partnered with HealthCare Konnect (HCK) to expand AI4CMR’s reach via HCK’s digital platform, enhancing diagnostic accessibility and workflow efficiency across healthcare networks.
Market Positioning: The company emphasizes reducing barriers to Cardiac MRI adoption through zero-click AI automation, targeting improved patient outcomes and operational productivity.

No publicly disclosed Series A/B/C funding rounds or exit events (e.g., IPOs or acquisitions) were identified. However, the EIC grant supports ongoing commercialization efforts alongside partnerships aimed at scaling their technology. Investor details beyond the EIC remain unspecified.

Sources:

3 The Press Releases

AI4MedImaging Medical Solutions S.A.: Post-EIC Accelerator Funding Developments Since securing EIC Accelerator funding in March 2022, AI4MedImaging Medical Solutions S.A. has advanced its AI-driven cardiac imaging technology through regulatory approvals, strategic partnerships, and product expansions.

Regulatory Milestones

FDA 510(k) Clearance: In July 2022, the company’s AI4CMR v1.0 software received FDA clearance as a "substantially equivalent" medical device for cardiac MRI analysis.
CDSCO Approval: The software obtained approval for commercialization in India, marking its entry into emerging markets.

Strategic Partnerships

aycan Collaboration: Announced in June 2024, this partnership enables aycan to resell AI4CMR in the U.S. and Germany while integrating it with third-party platforms like MedDream DICOM viewers.
Blackford Alliance: A 2023 agreement made AI4CMR available on Blackford’s imaging AI platform to automate ventricle segmentation and wall motion triage globally.

Technology Advancements

Intel OpenVINO Integration: The company optimized AI4CMR using Intel’s toolkit to accelerate MRI analysis workflows.
Web-Based Cloud Platform: Ensures accessibility across locations with rapid processing (under two minutes for ventricle quantification).

Event Participation & Industry Recognition

Presented at the SCMR Annual Scientific Sessions (January–February 2023/24) and featured in directories like SCMR’s Industry Directory for advancing cardiac MRI standardization through AI.

Sources

• FDA 510(k) Clearance: K220624 [via FDA]

• News: CDSCO Approval & OpenVINO Integration [via ai4medimaging.com]

• aycan Partnership Announcement [via aycan.com]

• Blackford Partnership Details [via Blackford Analysis]

• SCMR Industry Directory Entry [via SCMR.org]

4 The Technology Advancements

AI4MedImaging Medical Solutions S.A., a Portuguese medtech company specializing in AI-driven cardiac imaging solutions, has demonstrated significant progress since securing EIC Accelerator funding. The company received a €2.5 million grant in August 2022 to advance its AI4CMR.Plus project, despite the referenced March 2022 proposal date aligning with its application timeline.

Current capabilities
The company’s flagship product, AI4CMR v1.0, is a cloud-based medical image processing system cleared by the FDA (K220624) under 21 CFR 892.2050. It automates ventricular segmentation and functional analysis of cardiac MRI scans within 50 seconds using proprietary AI algorithms trained on data from Hospital de Braga. The solution integrates with third-party DICOM viewers as a plugin and processes cine steady-state free precession (SSFP) sequences with mandatory patient metadata like age and sex.

Post-EIC advancements
Under the EIC-funded project (September 2022–August 2024), AI4MedImaging accelerated development of AI4CMR.Plus targeting:

Enhanced automation: Expanding analysis beyond ventricular metrics to include myocardial tissue characterization
Scalability: Addressing operational barriers in CMR adoption through streamlined workflows
Clinical validation: Preparing for expanded trials ahead of the planned 2025 commercial launch

The company partnered with aycan Medical Systems for distribution in the Americas, indicating market traction through established reseller networks. While no new patents or peer-reviewed studies are explicitly reported since mid-2022, their technical documentation details robust quality management systems compliant with ISO standards and FDA regulations.

Market demonstration
AI4CMR is commercially available in the EU and undergoing implementation via clinical partnerships. The EIC project specifically aims to address Europe’s critical shortage of CMR experts (0.06–3 per million population) through democratized access to expert-level analysis tools.

Sources

5 The Partnerships and Customers

AI4MedImaging Medical Solutions S.A.: Partnerships and Market Position

Overview

AI4MedImaging Medical Solutions S.A., a Portugal-based company, specializes in applying artificial intelligence (AI) to medical imaging, with a strong focus on cardiac imaging. Since receiving the EIC Accelerator funding in March 2022, the company has been enhancing its position in the market through strategic partnerships and technological advancements.

Partnerships and Customers

One of AI4MedImaging's notable partnerships is with aycan, a recognized leader in medical imaging. aycan became a reseller and technology partner of AI4MedImaging, offering the AI4CMR solution, a Software as a Medical Device (SaMD) designed to automate cardiac magnetic resonance imaging (CMR) interpretation using AI. This partnership allows aycan to expand into the cardiology market while providing AI4MedImaging with a broader reach, particularly in the U.S. and Germany.

AI4MedImaging also partners with platforms like the Sectra Amplifier Marketplace, where they offer cutting-edge AI solutions for medical imaging. This collaboration helps in integrating AI-driven diagnostic tools into broader medical imaging workflows, enhancing diagnostic accuracy and patient management.

New Partnerships and Customers

While there is no recent information on new partners or customers specifically announced by AI4MedImaging since the EIC funding, their existing partnerships and participation in platforms like the Sectra Amplifier Marketplace and B2B events indicate ongoing efforts to expand their network and customer base.

Nature of Relationships

The partnerships are primarily focused on integrating AI4MedImaging's solutions into existing medical imaging workflows to improve diagnostic accuracy and efficiency. For example, the aycan partnership allows AI4MedImaging to leverage aycan's expertise in medical imaging IT solutions, enhancing their presence in the cardiology market.

Market Position

These partnerships position AI4MedImaging Medical Solutions S.A. as a leader in the medical AI solution space, particularly in cardiac imaging. By integrating their AI-driven solutions into broader medical imaging platforms, AI4MedImaging enhances its market visibility and credibility, potentially attracting more customers seeking advanced diagnostic tools.

Technology Advancements and Scaling

The partnerships with companies like aycan help AI4MedImaging scale its technology by integrating it into a wider range of medical imaging systems. This integration not only expands their customer base but also facilitates technological advancements by collaborating with other industry leaders. Furthermore, their presence in platforms like the Sectra Amplifier Marketplace underscores their commitment to advancing medical imaging through AI, ensuring that their solutions are accessible and integrated into various healthcare systems.

Conclusion

AI4MedImaging Medical Solutions S.A.'s strategic partnerships and participation in key platforms underscore its growing influence in the medical imaging sector. By focusing on AI-driven diagnostic solutions and collaborating with prominent industry players, AI4MedImaging is well-positioned to continue innovating and expanding its market reach.

Sources: - AI4MedImaging

6 The Hiring and Company Growth

AI4MedImaging Medical Solutions S.A., a Portugal-based developer of AI-driven cardiac imaging solutions, has demonstrated steady growth since its 2019 founding, though specific headcount figures remain undisclosed in public records. The company’s team composition emphasizes expertise in AI and medical imaging, with recent leadership and partnership developments shaping its trajectory.

Team Structure and Growth

While exact employee numbers are unavailable, the company describes its team as having a strong background in AI and cardiac imaging, with leadership roles including CEO/MD Vítor Hugo Pereira, CMO Dr. Vitor Hugo Pereira, and Chief Marketing & Commercial Officer Daniel Leite. Their 2023-2024 partnerships with Blackford Platform and aycan suggest operational scaling, particularly in U.S. and German markets through reseller agreements.

Hiring Trends

No direct hiring announcements appear in available materials, but the company’s regulatory milestones (FDA 510(k), CE Mark) and product integrations (e.g., MedDream HTML5 Viewer via Softneta) imply technical team expansion to support compliance workflows and SaaS deployments. The June 2024 aycan partnership specifically references "project leadership" roles for AI solution integration.

Leadership Continuity

Management appears stable since at least 2022–2023 based on regulatory filings naming Carla Almeida for submissions and consistent executive mentions across announcements. No founder exits or C-suite changes are documented post-EIC Accelerator submission (March 23, 2022).

Strategic Impact of Team Growth

Recent hires likely focus on commercialization roles to support global regulatory approvals (SFDA, CDSCO) and partnerships requiring cross-functional coordination between engineering (AI model optimization) and clinical validation teams. The emphasis on cloud-based delivery for AI4CMR further suggests backend infrastructure specialists are critical to scalability.

Sources

7 The Media Features and Publications

Overview of AI4MedImaging Medical Solutions S.A.

AI4MedImaging Medical Solutions S.A. is a Portugal-based company specializing in applying artificial intelligence (AI) to medical imaging, with a particular focus on cardiac imaging. Since receiving the EIC Accelerator funding in March 2022, the company has continued to make significant strides in developing innovative solutions for healthcare.

Media Features and Publications

AI4MedImaging has been featured in publications highlighting its expertise in AI-driven medical imaging solutions. For instance, it has been mentioned in discussions about companies leveraging AI in medical imaging across Europe.
The company's AI4CMR solution, a software as a medical device (SaMD), has gained attention for its ability to automate the interpretation of cardiac magnetic resonance imaging (CMR) using AI.

Content from Publications

Publications emphasize the company's AI4CMR solution, which can deliver full, accurate, and quantified ventricular segmentation along with segmentary functional analysis within 50 seconds. This technology helps streamline healthcare workflows, enhancing diagnostic accuracy and reducing the time spent on routine tasks.

Podcasts and Interviews

Currently, there are no specific podcasts or interviews featuring AI4MedImaging's team in the available search results. However, discussions on the application of AI in medical imaging often highlight the potential of such technologies to transform healthcare.

Conference and Fair Visits

AI4MedImaging recently participated in the SCMR 28th Annual Scientific Sessions, held from January 29th to February 1st in Washington, DC.
The company's involvement in conferences underscores its commitment to advancing AI in medical imaging and engaging with the global healthcare community.

Involvement in Events

AI4MedImaging's participation in events like the SCMR highlights its role in promoting AI solutions in healthcare. The company's collaboration with other industry leaders, such as Intel, further accelerates the development and deployment of AI technologies in cardiac MRI analysis.

Partnerships and Collaborations

AI4MedImaging has partnered with aycan, a recognized leader in medical imaging, to offer its AI4CMR solution. This partnership expands aycan's presence in the cardiology market and enhances its ability to provide innovative technologies that improve patient care and productivity.

Sources: - AI4Medimaging - AI for better workflow, better outcomes in medical imaging

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