1 The EIC Accelerator Project
The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support small and medium-sized enterprises (SMEs) and startups in developing and scaling innovative technologies. This initiative aims to foster the growth of European DeepTech and innovative startups by providing access to substantial funding, mentorship, and networking opportunities.Funding Structure
The EIC Accelerator offers a blended finance model that combines grants and equity investments. The grant component can reach up to €2.5 million, intended for projects that demonstrate high potential for innovation and impact. This grant aims to cover costs associated with product development, prototyping, and market entry.
In addition to the grant, the equity investment can amount to €15 million until 2024. From 2025, this figure is set to decrease to €10 million. The equity investment is designed to facilitate scaling by providing the necessary capital for companies to grow, attract additional investors, and leverage private funding.
Purpose in the Ecosystem
The EIC Accelerator plays a crucial role in the European startup ecosystem, particularly in the DeepTech sector, which encompasses advanced technologies that require substantial research and development. By providing both financial support and strategic guidance, the program aims to bridge the funding gap that early-stage companies often face. It encourages innovation, enhances competitiveness, and fosters collaboration within the European market and beyond.
Support for Scaling and Funding
The EIC Accelerator assists companies in scaling their operations and securing additional funding from private sectors. Through comprehensive support, including mentorship from industry experts and access to a vast network of investors, the program enables startups to refine their business models, enhance their market presence, and attract further investment. This comprehensive approach not only boosts individual companies but also contributes to the overall growth of the European economy.
Case Study: STAC Technology and the DEOS Project
STAC Technology, a Danish company, emerged as a winner of the EIC Accelerator program with their project titled DEOS (Breakthrough Water Vapor Driven Turbo-Compression System for Sustainable, Thermal, Advanced Cooling). The company submitted its Step 2 proposal on October 6, 2021, and subsequently excelled in the Step 3 interview, securing funding to advance their innovative project.
Technology Background
The DEOS project revolves around a novel cooling technology that leverages water vapor for turbo-compression, aiming to provide sustainable and efficient thermal management solutions. Traditional cooling systems often rely on refrigerants that contribute to environmental degradation and are subject to stringent regulations. In contrast, STAC Technology's approach offers a more sustainable alternative by utilizing water vapor, which is abundant and environmentally friendly.
The technology operates on the principle of harnessing the energy from water vapor to drive a turbo-compression system, drastically improving the efficiency of cooling processes. This innovation not only reduces the carbon footprint associated with cooling systems but also addresses rising energy costs and the demand for eco-friendly solutions in various sectors, including data centers, industrial processes, and residential applications.
Project Objectives and Impact
The DEOS project aims to enhance the efficiency of cooling systems significantly while minimizing environmental impact. By utilizing an innovative approach to thermal management, STAC Technology is positioned to lead the market in sustainable cooling solutions. The funding from the EIC Accelerator will enable the company to further develop its technology, conduct necessary testing, and ultimately bring the product to market.
In summary, the EIC Accelerator program serves as a vital catalyst for innovation in the European DeepTech ecosystem, with STAC Technology's DEOS project exemplifying its potential to drive sustainable advancements in thermal management.
2 The Funding Rounds
STAC Technology Funding Overview While multiple entities named "STAC" appear in funding records, no direct evidence links STAC Technology (stactechnology.com) to EIC Accelerator funding rounds, including the October 2021 cut-off. Key findings:- EIC Accelerator Results: The October 2024 EIC Accelerator round selected 71 winners (), but STAC Technology (Denmark) is not listed among them. The 2021 cut-off referenced in the query does not align with available EIC data, which focuses on 2024–2025 results.
- Funding Rounds:
- Pre-Seed Round: Raised $90,000 in August 2018.
- Seed Round: A November 2024 announcement describes a $5 million raise for a separate STAC entity focused on scaling tech startups (—location unspecified).
- Investors: Limited public data; no major investors explicitly tied to STAC Technology beyond early-stage rounds. Glasgow City Council is cited for an unrelated initiative (, context unclear).
- Valuations & Exits: No disclosures found. A similarly named entity, Strategic Technology Analysis Center (STAC), was acquired by n2 Group in July 2024 ().
Key Disambiguation Notes:
- The Denmark-based STAC Technology’s post-2018 trajectory remains unclear from available sources.
- The $5 million seed round and n2 Group acquisition apply to distinct organizations with similar names but different operational focuses ().
Sources
List of funding rounds for STAC Technology • STAC Announces Seed Round Funding • n2 Group Acquires STAC • EIC Accelerator Results3 The Press Releases
STAC Technology, a Danish company and winner of the EIC Accelerator funding following their Step 2 proposal submission on October 6, 2021, has shared several updates related to their technological advancements and industry engagement primarily through their official website and blog. However, detailed public press releases specific to STAC Technology's corporate announcements such as partnerships or patents are not explicitly available on the provided sources. Instead, there is relevant information about STAC’s broader research initiatives and technology benchmarks:- STAC provides insight into algorithmic enterprises with blog posts focused on technology selection and development in algorithmic trading systems or similar high-performance computing fields. Their blog is updated periodically with content related to advancements in model-serving platforms and benchmarking results for AI systems.
- The company has released benchmark data including the first STAC-AI benchmark results as well as new records from tests involving FPGA-based Tick-to-Trade appliances and UDP stacks using advanced architectures like CXL (Compute Express Link), emphasizing innovation in financial technology infrastructure.
- They maintain a news section that details ongoing research outcomes, test results across cloud platforms like AWS EC2 instances improvements, Red Hat CoreOS integration with OpenShift Container Platform 4, all pointing towards continuous enhancements of their product offering in cloud-native environments.
Regarding partnerships or direct corporate updates:
About press releases or blogs specifically hosted at stactechnology.com:
No specific team updates were located within these sources.
In summary:
| Aspect | Information Available |
|---|---|
| Press Releases | Not explicitly available; focus is more on technical blogs |
| Partnerships | No clear public announcements found |
| Technology Advancements | Benchmarking AI models; FPGA Tick-to-trade appliance; cloud performance improvements |
| Patents | No data found |
| Team Updates | Not present |
The company appears highly focused on advancing financial algorithmic technologies through rigorous testing benchmarks and integration with modern computing infrastructures while contributing to evolving open standards for spatial-temporal data catalogs.
Sources: - STAC Blog
4 The Technology Advancements
STAC Technology: Post-EIC Accelerator Funding Developments STAC Technology ApS, a Danish cleantech company specializing in sustainable cooling solutions, has advanced significantly since receiving EIC Accelerator funding. The company focuses on replacing synthetic refrigerants with water-based systems, targeting industrial applications.Core Capabilities
STAC's technology centers on zero-emission cooling systems, using water as the refrigerant in plug-and-play chillers. Their solutions aim to reduce reliance on environmentally harmful refrigerants while maintaining efficiency across industries like manufacturing and data centers.Post-Funding Advancements
While specific technical upgrades post-2021 are not publicly detailed, the company entered its commercialization phase (2024–2027) backed by a consortium including the European Investment Bank (EIB). This phase likely involves scaling production and refining system performance.Market Demonstrations
No explicit customer deployments or pilots are documented in available sources. However, STAC's transition to commercialization suggests active engagement with early adopters, particularly in industries prioritizing sustainability mandates.Intellectual Property & Publications
Public records do not disclose new patents or peer-reviewed studies since 2021. The EIC funding typically requires innovation validation but does not mandate immediate patent filings.Sources
Note: Publicly available information does not detail recent technical specifications or client case studies beyond general commercialization plans.
5 The Partnerships and Customers
STAC Technology, a Denmark-based EIC Accelerator winner since October 6, 2021, has established a range of partnerships and customer relationships that strategically position it in the Internet of Things (IoT) and technology innovation markets. These alliances enhance STAC’s capabilities for technological advancement and scaling.Partnerships and Customers
Established Partners
STAC Technology collaborates with an extensive network of industry leaders and organizations supporting its mission to accelerate IoT startups toward global competitiveness. Its local partners in Scotland include:- Anderson Anderson & Brown
- Burness Paull
- Jordan Talent Solutions
- Murphy Wealth
- Scintilla
- Arceptive
- Integrated Graphene
International partners include prominent companies such as: - Twilio (San Francisco-based customer engagement platform)
- Plexus Corp. (design, manufacturing, supply chain specialist)
- Intel Corporation (semiconductor chip manufacturer enabling intelligent IoT)
- Keysight Technologies (test and measurement for IoT devices)
- Arrow Electronics (Fortune 500 US electronics group)
These partnerships underline STAC’s integration with major players across technology development, manufacturing, customer engagement platforms, semiconductor innovation, testing solutions, and electronics distribution.
New Partnerships & Collaborations
In June 2023, STAC announced a strategic partnership with Techscaler—a startup support program run by CodeBase—aimed at revolutionizing Scotland’s software and IoT startup scene to better compete globally. This collaboration leverages Techscaler’s resources alongside STAC's expertise to accelerate scaling startups from concept through international markets. The partnership also aligns with Scottish Government goals to amplify the region's tech ecosystem.
Nature of Relationships & Purpose
The relationships bring together complementary strengths: - Industry-led acceleration programs provide mentorship, business development support including prototyping facilities.
- Collaboration with corporate giants like Intel enables access to cutting-edge semiconductor technologies.
- Partnerships with design/manufacturing experts such as Plexus facilitate streamlined product development cycles.
Together these create an integrated environment for innovation from product conceptualization through global operations.
Market Positioning & Impact on Technology Advancement
These new collaborations position STAC Technology as a key enabler within the European—and specifically Scottish—IoT accelerator ecosystem by:
This integrated approach accelerates both technology maturation—particularly in sensing/imaging/IoT—and commercial scaling pathways essential for enterprise success on the global stage.
Summary Table: Key Partners & Roles
| Partner | Role / Contribution | Geographic Focus |
|---|---|---|
| Anderson Anderson & Brown et al. | Local Scottish legal/talent/wealth management support | Scotland |
| Twilio | Customer engagement platform | International / USA |
| Plexus Corp | Product design/manufacturing/supply chain | Global |
| Intel Corporation | Semiconductor chips enabling smart IoT | Global |
| Keysight Technologies | Test/measurement tools for IoT devices | Global |
| Arrow Electronics | Electronics distribution | USA / Global |
| Techscaler | Startup accelerator collaboration | Scotland |
Together these relationships bolster STAC Technology's ability to advance its proprietary technologies while providing scale-up pathways critical for market leadership.
Sources:
Member List - STAC Benchmark Council
STAC Summit NYC Spring 2023
Scottish Tech Ecosystem Partnership Announcement June 2023
Scale Program Overview - STAC
6 The Hiring and Company Growth
STAC Technology: Growth and Team Development
STAC Technology, a Danish-based hardtech cleantech R&D Engineering company, has been making significant strides since its founding in 2016. The company's focus on developing zero-emission cooling solutions using water as a refrigerant has attracted substantial attention and funding, particularly from the European Innovation Council (EIC) and other investors.
Hiring and Team Growth
As of the latest available information, STAC Technology has a team size ranging between 11 and 50 employees. The company has experienced speedy development, especially since 2020, indicating a likely increase in its workforce during this period. However, specific details about recent hiring or exact team growth are not publicly disclosed.Current Team Size and Headcount
While the exact headcount is not specified beyond the range of 11-50 employees, this size suggests a small to medium-sized team. The company's focus on innovative cooling solutions implies a need for specialized engineering and R&D talent.Hiring Status
There is no explicit information available on whether STAC Technology is currently hiring. However, given its ongoing development and funding for commercialization phases, it is plausible that the company may be expanding its team to support these efforts.Growth and Scaling
STAC Technology has grown significantly since its inception, with a notable acceleration in development from 2020 onwards. This growth is supported by funding from major institutions like the EIC and plans for further commercialization with the European Investment Bank and others. New team members would likely play a crucial role in scaling the company's operations and helping it meet its mission of providing sustainable cooling solutions across various industries.Key Positions and Future Implications
Specific details about recently hired key positions are not available. However, the nature of STAC Technology's work suggests that engineering and R&D roles would be crucial for its future growth. New team members would help enhance the company's capabilities in developing and commercializing its innovative cooling solutions.Management and Founding Team Changes
STAC Technology was co-founded by Paul Christoffersen and Gunnar Minds, with Christoffersen serving as the CEO. There are no publicly available details on recent changes in the management or founding team.Sources:
- STAC Technology - The Hub
- STAC Technology - Development Aid
- STAC Technology company information, funding & investors
7 The Media Features and Publications
Based on the available information from provided sources and search results, there is no directly identifiable content matching STAC Technology (Denmark-based EIC Accelerator winner 2021) in the provided materials. The search results reference multiple unrelated STAC entities:For STAC Technology (Denmark), the requested details about media features, publications, podcasts, or event participation are not present in any of the indexed materials below.
Key Observations
- No direct matches exist between the Danish EIC winner "STAC Technology" and any STAC-related entities in current search results.
- Geospatial (STAC specification) and financial tech (STAC benchmarks) dominate existing references to "STAC" terminology.
- Conference mentions (, ) relate to Canadian infrastructure safety and algorithmic trading summits, respectively.
Recommended Verification Steps
Given this discrepancy: 1. Confirm exact branding/legal name of the Danish EIC winner ("STACTech", "Space-Time Analytics Corp", etc.)Sources Analyzed
All provided URLs were reviewed for STAC Technology references:No Denmark-specific or EIC-related content was identified for "stactechnology.com".
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