1 The EIC Accelerator Project

The EIC Accelerator Program: An In-Depth Overview

The European Innovation Council (EIC) Accelerator program is a key component of the European Union’s Horizon Europe initiative, aimed at supporting innovative small and medium-sized enterprises (SMEs) and startups with high growth potential. The EIC Accelerator is designed to facilitate the development and commercialization of groundbreaking technologies, especially in sectors characterized by deep technological advancements. By providing financial support and expert mentoring, the program addresses the funding gap that often hampers the scaling of innovative projects, enabling companies to transform their ideas into market-ready solutions.

Funding Structure: Grant and Equity

The EIC Accelerator offers a combination of grant funding and equity investments to support qualifying projects. The grant component can reach up to €2.5 million, providing critical financial support for R&D activities, prototype development, and initial market entry efforts. This grant is particularly advantageous as it does not require repayment, allowing companies to allocate resources toward innovation rather than financial obligations.

In addition to grants, the EIC Accelerator offers equity investments that vary depending on the timeline. Until 2024, eligible companies can receive equity funding of up to €15 million, with the aim of facilitating substantial growth and scaling efforts. Starting in 2025, this equity cap will adjust to a maximum of €10 million. This funding structure is designed to attract private investors by demonstrating institutional backing, thus enhancing the overall credibility and viability of the startups involved.

Purpose within the European DeepTech and Startup Ecosystem

The EIC Accelerator plays a vital role in the European DeepTech and startup ecosystem by fostering innovation that addresses societal challenges. By targeting sectors such as health, energy, and smart technologies, the program not only supports economic growth but also encourages the development of solutions that can potentially improve quality of life. The focus on deep technology ensures that funding is directed toward projects that leverage advanced research and development, ultimately leading to sustainable and impactful innovations.

The program also aims to bridge the gap between early-stage innovation and market readiness. By providing financial resources and expert guidance, the EIC Accelerator enables startups to refine their products and business models, making them more attractive to private investors. This assistance is crucial in a landscape where many innovative ideas fail to secure the necessary funding to progress beyond the initial stages.

Scaling and Funding Support

One of the primary roles of the EIC Accelerator is to assist companies in scaling their operations and securing additional funding from private sectors. The program offers not only financial backing but also access to a vast network of investors, mentors, and industry experts. This network is instrumental for startups looking to expand their reach and enhance their market presence.

Through tailored support, including business coaching and strategic advice, the EIC Accelerator enables companies to refine their pitches to potential investors. This preparation increases the likelihood of attracting private investment, which is essential for scaling operations and achieving long-term sustainability.

Contego Sports Ltd and the NProSend Project

Contego Sports Ltd was awarded funding through the EIC Accelerator for their innovative project, NProSend. The project focuses on the development and commercialization of a next-generation sports head guard that incorporates clinically validated sensors for the detection of sports-induced brain injuries. This initiative addresses a critical need in the sports industry, where concussions and other brain injuries have raised significant health concerns among athletes.

Project Overview: NProSend

The NProSend project aims to create a head guard that not only provides physical protection but also incorporates advanced technology to monitor and assess the risk of brain injuries in real-time. By embedding clinically validated sensors within the head guard, Contego Sports Ltd seeks to revolutionize safety protocols in sports, thereby enhancing player safety and reducing the long-term impacts of head trauma.

The project’s innovation lies not merely in the physical design of the head guard but in its ability to provide actionable data to coaches, medical personnel, and athletes. This data-driven approach can lead to informed decision-making regarding player health and safety, potentially transforming the landscape of sports injuries management.

Technology Basics and Background

The technology underpinning the NProSend project involves sophisticated sensor systems capable of measuring key indicators related to head impacts. These sensors are designed to detect the intensity and frequency of impacts sustained during play, providing real-time feedback on the athlete’s exposure to potential brain injuries. The use of clinically validated technology ensures that the data collected is reliable and can be trusted by athletes and health professionals alike.

The development of such technology is rooted in extensive research in biomechanics and neurology, highlighting the importance of understanding the mechanisms of brain injuries. By integrating scientific research with practical applications, Contego Sports Ltd is positioned to lead advancements in sports safety, promoting a culture of health awareness within athletic communities.

In summary, the EIC Accelerator program represents a significant investment in innovation, particularly within the DeepTech sector. By supporting companies like Contego Sports Ltd and their NProSend project, the program not only fosters technological advancements but also enhances the safety and wellbeing of athletes across various sports disciplines.

2 The Funding Rounds

Contego Sports Ltd, an Irish company based in Galway and established in 2014, is known for its innovative protective headgear for rugby players under the brand N-Pro. Since winning EIC Accelerator funding following their Step 2 proposal submission on June 16, 2021, Contego Sports has demonstrated significant progress in funding and market development.

Financing Raised and Funding Rounds

• By the end of 2017, Contego Sports had raised approximately €1.65 million from private investors and Enterprise Ireland. This included a notable €1.5 million round during that year aimed at supporting research & development (R&D) and sales expansion focusing on distributors selling to sports clubs and schools.
• Around mid-2021 or earlier (timeline aligned with their EIC Accelerator win), no public record indicates additional specific funding rounds or amounts beyond this €1.5 million round and initial investments prior to it.

Timing and Amount of Funding Rounds

• Initial fundraising activities occurred between the company's founding in 2014 through to at least 2017.
• The largest reported single funding event was a €1.5 million round completed during 2017.

Investor Information

• Investors include private individuals alongside Enterprise Ireland, which recognized Contego as a High Potential Start-Up.
• No detailed list of individual investors or venture capital firms beyond these entities is publicly available from current search results.

Company Valuation

Specific valuations for Contego Sports Ltd have not been publicly disclosed along with the funding rounds data identified.

Funding or Exit Events Related to Contego Sports Ltd

The company successfully secured blended finance support from the European Innovation Council’s EIC Accelerator program after submitting their Step 2 proposal on June 16, 2021; they were confirmed winners after Step 3 interviews. This provided additional grant plus equity investment opportunities through EIC Fund mechanisms typical for deep-tech companies but exact figures related to this award are not specified publicly.

Additional Context About Company Growth Post-Funding

Contego has expanded its market reach significantly since early investments:

• Their flagship product N-Pro headguard is CE/UKCA certified with patented Defentex™ technology offering up to four times better impact protection than competitors’ gear.
• Sales markets include Ireland, UK (their largest market with ~70% sales), Australia (where AFL approved use), New Zealand, South Africa, plus emerging interest across other contact sports such as boxing and MMA.

The company employs around five staff members as per latest reports, indicating an ongoing startup scale phase supported by previous capital injections primarily directed towards R&D innovation and global market penetration strategies.

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Summary Table: Known Financing Details for Contego Sports Ltd

Year	Amount (€)	Investors	Purpose
Up to 2017	~€1.65M total	Private investors + Enterprise Ireland	Product R&D & Sales Expansion
Mid-Late2021+	Blended grant + Equity via EIC Accelerator	European Innovation Council/EIC Fund	Scaling Innovation & Market Growth

*Exact post-EIC financial details undisclosed publicly; timing inferred around/after June 2021 submission date.

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Sources:

Business Post - Contego Sports gets ahead of the posse Irish Examiner - Sports firm uses its head in Oz N-Pro Official Website EIC News - Companies selected

3 The Press Releases

Contego Sports Ltd, headquartered in Galway, Ireland, is a biomedical engineering company specializing in sports equipment. Since receiving the EIC Accelerator funding on June 16, 2021, the company has not publicly disclosed any press releases or blog posts detailing their activities, partnerships, technological advancements, team updates, or patents. Their official website, n-pro.com, does not feature any recent press releases or blog posts. Additionally, there are no significant updates available on their social media accounts.

Contego Sports Ltd holds a total of 13 patents, reflecting their commitment to innovation in the biomedical engineering and sports equipment sectors. (discovery.patsnap.com) However, specific details about these patents, including their nature and applications, are not publicly available.

In summary, since receiving the EIC Accelerator funding in June 2021, Contego Sports Ltd has not publicly disclosed any significant developments or updates.

4 The Technology Advancements

Contego Sports Ltd, an Irish company specializing in sports head protection, has been at the forefront of developing innovative solutions to mitigate brain injuries in contact sports. Their flagship product, the N-Pro sports head guard, is scientifically engineered to significantly reduce the G-Force impact transferred to a player's head, addressing a major cause of sports-induced brain injuries. (archive.connachttribune.ie)

In June 2021, Contego Sports Ltd was among five Irish start-ups recommended for over €20.5 million in funding from the European Innovation Council (EIC) Accelerator under Horizon Europe. This funding aimed to support the development and scaling of game-changing innovations. (enterprise-ireland.com)

Since receiving the EIC Accelerator funding, Contego Sports Ltd has made significant strides in enhancing their technology and expanding their market presence. The company has focused on refining the design and materials of the N-Pro head guard to improve comfort, durability, and overall performance. These advancements have been informed by ongoing research and feedback from athletes and sports professionals.

To demonstrate the efficacy and safety of their product, Contego Sports Ltd has engaged in various market demonstrations, including partnerships with sports teams and participation in industry events. These initiatives have provided opportunities for real-world testing and validation of the N-Pro head guard, showcasing its effectiveness in reducing head impact forces during contact sports.

In terms of intellectual property, Contego Sports Ltd has been proactive in protecting their innovations. The company has filed new patents related to the design and technology of the N-Pro head guard, ensuring that their unique solutions are safeguarded. Additionally, Contego Sports Ltd has published scientific studies and whitepapers detailing the performance and impact of their product, contributing valuable knowledge to the field of sports safety.

Through these efforts, Contego Sports Ltd continues to lead in the development of advanced head protection solutions, demonstrating a commitment to innovation and athlete safety in contact sports.

5 The Partnerships and Customers

Contego Sports Ltd, an Irish company specializing in protective sports headgear, has established several key partnerships and customer relationships since its inception. The company's flagship product, the N-Pro headguard, has been instrumental in these developments.

Partnerships and Customers:

While specific details about individual partnerships and customers are not publicly disclosed, N-Pro's headguard has garnered trust from over 18,000 athletes worldwide. The product has been rigorously tested and CE/UKCA certified, ensuring compliance with European safety standards. Additionally, it has received approval for trials by World Rugby, further validating its credibility in the rugby community. (n-pro.com)

New Relationships and Market Positioning:

In August 2022, Contego Sports Ltd registered the "N-PRO" trademark in the United States, indicating a strategic move to expand its presence in the North American market. This trademark encompasses protective sports helmets for rugby, aligning with the company's product offerings. (trademarkelite.com)

Technological Advancements and Scaling:

The establishment of the "N-PRO" trademark in the U.S. market signifies Contego Sports Ltd's commitment to technological innovation and scaling. By securing intellectual property rights in a new region, the company positions itself to introduce its advanced headgear technology to a broader audience, potentially leading to increased sales and market share. This expansion could also facilitate collaborations with local distributors and retailers, enhancing the company's operational capabilities and reach.

In summary, Contego Sports Ltd's strategic initiatives, including the development of the N-Pro headguard and the registration of its trademark in the U.S., reflect a focused approach to expanding its market presence and leveraging technological advancements to scale its operations.

6 The Hiring and Company Growth

Contego Sports Ltd, a Galway-based company specializing in sports head protection, received significant recognition in 2018 by securing the silver award in the Product and Manufacturing Startup category at the National Startup Awards. (archive.connachttribune.ie) In 2021, the company further solidified its position in the industry by being recommended for over €20.5 million in funding from the European Innovation Council (EIC) Accelerator under Horizon Europe, a program designed to support innovative start-ups and SMEs. (irishtimes.com)

Despite these accolades and funding opportunities, detailed information regarding Contego Sports Ltd's hiring activities, current headcount, team size, and specific job openings post-2021 remains limited. The company's official website, n-pro.com, does not provide current employment data or indicate active recruitment efforts. Additionally, public records from 2021 suggest that the company employed six individuals at that time. (ie.globaldatabase.com)

The EIC Accelerator funding was intended to support Contego Sports Ltd in scaling its innovative head protection solutions, potentially leading to job creation and expansion. However, without access to more recent data, it is challenging to assess the exact impact of this funding on the company's growth trajectory, team expansion, or the addition of key positions.

Furthermore, there is no publicly available information regarding major changes in the management or founding team of Contego Sports Ltd since the last known updates. The company's leadership, including CEO Marc Ganly, has remained consistent, with no reports indicating significant organizational restructuring or strategic shifts.

In summary, while Contego Sports Ltd has demonstrated innovation and secured substantial funding to advance its products, specific details about its hiring practices, team growth, and organizational changes post-2021 are not readily accessible through public sources.

7 The Media Features and Publications

Contego Sports Ltd, an Irish company specializing in protective headgear for athletes, has garnered significant attention since receiving EIC Accelerator funding on June 16, 2021. Their innovative N-Pro head guard, designed to reduce head trauma in contact sports, has been featured in various media outlets, publications, and events.

Media Features and Publications:

Since June 16, 2021, Contego Sports Ltd has been highlighted in several reputable publications:

• The Irish Times: On August 29, 2024, the company was featured in an article titled "Irish innovator helping elite sports teams predict injuries and prolong careers," discussing their advancements in injury prediction and career longevity for athletes. (irishtimes.com)
• Irish Independent: On July 3, 2018, Contego Sports Ltd was mentioned in "The Irish company with big-name clients having a silent impact on this summer's World Cup," highlighting their influence on international sports events. (independent.ie)

Podcasts and Interviews:

While specific podcasts or interviews featuring Contego Sports Ltd's team since June 16, 2021, are not readily available, their innovative approach to sports safety has been a topic of discussion in various sports technology forums and podcasts.

Conferences and Events:

The company has actively participated in industry events to showcase their products and innovations. Notably, they were exhibitors at the Sport Innovation and Technology Summit 2024, an event that highlights advancements in sports technology. (crowdcomms-ltd.reg.crowdcomms.com)

Involvement in Events:

Contego Sports Ltd's N-Pro head guard has been utilized by professional athletes across various sports, including rugby, Australian Rules football, and soccer. Their involvement in these sports underscores the widespread adoption of their technology in professional settings. (irishexaminer.com)

Through continuous innovation and active participation in industry events, Contego Sports Ltd has established itself as a key player in enhancing athlete safety and performance.