1 The EIC Accelerator Project

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 scaling their groundbreaking technologies. This initiative aims to foster the development of deep tech and high-impact innovations, particularly within the European landscape, by offering both financial and advisory support. The program is particularly focused on ventures that have the potential to address global challenges and contribute to Europe’s economic growth.

Funding Structure

The EIC Accelerator offers a blended finance model that combines grants and equity investments to provide comprehensive financial backing for innovative projects.

Purpose and Impact

The EIC Accelerator plays a crucial role in the European deep tech ecosystem by not only providing funding but also facilitating access to additional private sector investments. By leveraging its extensive network and expertise, the EIC helps startups to build relationships with potential investors, thereby enhancing their capacity to scale rapidly in competitive markets. This program aims to bridge the funding gap that many innovative companies face, particularly in the early stages of development, where traditional venture capital may be hesitant to invest.

Case Study: ARGO IMIAGOGOI and the Argo Active Antenna Project

The EIC Accelerator winner ARGO IMIAGOGOI, formally known as Argo Semiconductors Société Anonyme, has been awarded funding for its project titled "Argo Active Antenna." This initiative focuses on the final development and optimization of the Argo Semi Active Antenna Catalyst, which is poised to revolutionize sub-6GHz 5G wireless systems. The company, based in Greece, submitted its Step 2 proposal on March 13, 2024, and subsequently succeeded in the Step 3 interview.

Project Overview

The Argo Active Antenna project aims to enhance the performance of 5G wireless communication systems, particularly in the sub-6GHz frequency range. This frequency band is critical for achieving broader coverage and improved data transmission rates in 5G networks, making it essential for various applications, including Internet of Things (IoT) devices, smart cities, and autonomous vehicles.

Technology Background

The technology behind the Argo Active Antenna is grounded in advanced semiconductor design and materials science. Active antennas incorporate electronic components that actively manage the transmission and reception of signals, providing greater flexibility and efficiency compared to traditional passive antennas. The Argo Semi Active Antenna Catalyst represents a significant leap forward in this domain, integrating sophisticated algorithms and signal processing technologies to optimize performance in real-time.

By focusing on the sub-6GHz range, the Argo Active Antenna addresses the need for better coverage and reliability in urban environments, where traditional 5G deployment faces challenges such as signal attenuation and interference. The catalyst technology developed by ARGO IMIAGOGOI is expected to facilitate higher data throughput and lower latency, crucial factors for the success of 5G applications.

Conclusion

The EIC Accelerator program serves as a vital catalyst for innovation in Europe, providing essential funding and support to pioneering companies like ARGO IMIAGOGOI. Through its innovative projects, such as the Argo Active Antenna, the program not only contributes to the advancement of deep tech but also plays a critical role in strengthening Europe’s position in the global technology landscape. The synergy between grant funding and equity investment ensures that groundbreaking ideas have the financial backing needed to transition from concept to market-ready solutions, ultimately driving economic growth and technological advancement across the continent.

2 The Funding Rounds

# Argo Semiconductors: EIC Accelerator Funding Success in March 2024

Argo Semiconductors (ArgoSemi), a fabless semiconductor company based in Greece, secured funding through the European Innovation Council (EIC) Accelerator program following the March 2024 cutoff. The company specializes in providing RF solutions for 5G cellular sub-6GHz infrastructure, including macro-cell Radio-Units and Small-Cell base-stations.

Company Overview

ArgoSemi was incorporated in 2021 and operates a development center in Athens, Greece. The company has developed innovative technologies that enable cost-effective deployment of sub-6 5G massive MIMO networks. Their offerings include ultra-slim antenna arrays and feature-rich RFIC products that deliver state-of-the-art performance and power efficiency.

By integrating active and passive components, ArgoSemi's technology reduces the component count in typical 5G New-Radio Radio-Unit deployments, potentially reducing 5G massive MIMO NR RU CAPEX by 25%.

EIC Accelerator Funding Details

ArgoSemi was among the 68 deep-tech startups selected for funding in the March 2024 EIC Accelerator round, with results announced on July 15, 2024. The company submitted its Step 2 proposal on March 13, 2024, and was successful in the subsequent Step 3 interview stage.

Funding Structure

While specific funding amounts for ArgoSemi are not detailed in the available information, the March 2024 EIC Accelerator round provided the following average funding parameters:

• Total budget allocated: €411 million
• Average funding per company: €6.04 million
• Average grant component: €2.46 million
• Average equity component: €3.71 million

Most companies (majority percentage) received blended finance, combining grants and equity investments. The EIC Accelerator typically offers grants of up to €2.5 million combined with equity investments through the EIC Fund.

Competitive Selection Process

The EIC Accelerator selection process is highly competitive. For the October 2024 round (the most recent data available), the success rates were:

• Step 2: 36% (431 out of 1211 applications)
• Step 3: 16% (71 out of 431)
• Overall success rate (Steps 2 & 3 combined): 5.9%

This indicates the prestigious nature of ArgoSemi's achievement in securing this funding.

Investment Impact

The equity investments made through the EIC Fund, the EIC's dedicated investment arm and Europe's largest deep-tech investor, typically attract additional investors. This often increases the overall investment to more than three times the EIC's original amount, potentially providing ArgoSemi with significant leverage for future growth.

Following the funding decision, companies typically receive the grant financing within three months, while the timing of equity investments depends on the urgency of the company's needs.

Future Outlook

As a recipient of EIC Accelerator funding, ArgoSemi joins an elite group of innovative companies poised to drive significant advancements in their respective fields. The funding is expected to accelerate ArgoSemi's development of RF solutions for 5G infrastructure, supporting their mission to enable cost-effective deployment of advanced cellular networks.

No information regarding company valuation, IPO plans, acquisition events, or other funding rounds for ArgoSemi was available in the provided search results.

Sources: - ArgoSemi.com – Argo Semiconductors LTD

• EIC Accelerator – 68 deep-tech start-ups in the latest funding round
• EIC Accelerator March 2024 Results: A Detailed Analysis of Funding Distribution and Success Rates
• EIC Accelerator: Statistics and Results from the March 2024 call

3 The Press Releases

Overview of ARGO IMIAGOGOI ANONYMI ETAIREIA\ARGO SEMICONDUCTORS SOCIETE ANONYME

Argo Semiconductors, based in Greece, is a fabless semiconductor company specializing in radio frequency (RF) solutions for 5G cellular sub-6GHz infrastructure. The company was incorporated in 2021 and has a development center in Athens, Greece. Its engineering team has developed numerous RFIC products, which have been deployed in large numbers, particularly in the context of 5G massive MIMO networks.

EIC Accelerator Funding

Argo Semiconductors received the prestigious European Innovation Council (EIC) Accelerator funding for its Argo Active Antenna project in March 2024. This project aims to finalize and optimize the Argo Semi Active Antenna Catalyst, which is poised to revolutionize sub-6GHz 5G wireless systems. This achievement places Argo Semiconductors at the forefront of innovation in the semiconductor industry.

Technology Advancements

The company's technology focuses on cost-effective deployment of sub-6GHz massive MIMO networks by integrating active and passive components, reducing the component count in typical 5G New-Radio Radio-Units. This results in a 25% reduction in CAPEX for 5G massive MIMO NR RU deployments. Additionally, Argo Semiconductors is advancing silicon technologies for 5G active antenna systems.

Partnerships and Collaborations

Recently, Argo Semiconductors appointed Katsumi Tanoue to its advisory board to strengthen its 5G strategy. The company also collaborates with other entities, such as Metanoia, and unveiled an all-in-one sub-6GHz medium-power 5G digital antenna module. Furthermore, Argo Semiconductors participates in the EU-funded project FirstTo6G, which aims to advance European research and innovation towards 6G technology.

Press Releases and Updates

On the company's website and social media, there are updates on its participation in major events like the Mobile World Congress and announcements of new appointments and technological developments. The company's CEO, Manolis Frantzeskakis, has been a prominent speaker at industry conferences, highlighting Argo Semiconductors' commitment to innovation in the communications and semiconductor sectors.

Future Aspirations

Following the EIC Accelerator award, Argo Semiconductors continues to pursue excellence and further innovation, with a focus on shaping the future of technology in wireless communications. The company's participation in projects like FirstTo6G underscores its commitment to advanced research and development in the field of telecommunications.

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Sources: - EIC Accelerator: Statistics and Results from the March 2024 call

• Argo Semiconductors Triumphs with EIC Accelerator Prize
• News – ArgoSemi.com
• ArgoSemi.com – Argo Semiconductors LTD

4 The Technology Advancements

Argo Semiconductors SA: Current Capabilities and Advancements

Argo Semiconductors SA, a Greek-based company, specializes in providing innovative RF solutions for 5G cellular sub-6GHz infrastructure. The company is recognized for its pioneering work in active antenna modules, leveraging true 2D printed antenna technology to offer cost-effective and high-performance solutions for macro-cell and small-cell base stations.

Current Capabilities

• RF Solutions: Argo Semiconductors is a fabless semiconductor company that offers RFIC products and antenna technologies, focusing on cost-sensitive sub-6GHz 5G solutions. Their product lines include multi-core transceiver systems and high-performance synthesizers, enabling substantial cost savings for Wi-Fi and ORAN-based sub-6GHz 5G Radio Units.
• Active Antenna Modules: The company's active antenna modules feature advanced integration, reducing radio costs and power consumption by more than 25%. This technology is crucial for 5G expansion, addressing the increased total cost of ownership associated with 5G infrastructure.

Advancements Since EIC Accelerator Funding

In March 2024, Argo Semiconductors successfully secured funding from the European Innovation Council (EIC) Accelerator, which supports top-tier innovation across Europe. Since then, the company has made significant advancements:

• EIC Accelerator Prize: Argo Semiconductors was awarded the prestigious EIC Accelerator Prize for its revolutionary Argo Active Antenna project. This recognition underscores the company's commitment to developing cutting-edge solutions in wireless communication.
• AS04xx-R Product Line: The company presented its pioneering 5G sub-6GHz directional printed antenna array product line, AS04xx-R. These antennas can be manufactured using conventional PCB facilities while maintaining high performance, marking a significant step forward in 5G and 6G networks.

Technology Demonstration and Market Engagement

Argo Semiconductors has actively demonstrated its technology in various forums:

• Market Presence: The company has attracted attention from key players in the Radio Access Network (RAN) market with its single-board active antenna, which allows for reduced radio costs and power consumption.
• Exhibition Participation: Argo Semiconductors has showcased its products at notable events, such as MWC Barcelona, highlighting its active antenna modules and consulting services for RF subsystems.

Patents and Scientific Publications

While specific details on new patents or scientific studies since the EIC funding are not publicly available, Argo Semiconductors maintains a strong and continuously growing patent portfolio. The company's focus on innovation suggests ongoing efforts in research and development.

Future Outlook

With the EIC Accelerator funding and recognition, Argo Semiconductors is well-positioned to further innovate and scale its operations. The company aims to finalize the development of its smart RF ICs, enhance marketing efforts, and expand globally, with projections to reach breakeven by 2027 and achieve significant revenue milestones before the decade's end.

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Sources: - Argo Semiconductors SA

• ARGO SEMICONDUCTORS
• Argo Semiconductors joins HETiA
• Argo uses Ansys to develop 2D-printed 5G antennas and arrays
• ArgoSemi.com
• Argo Semiconductors Triumphs with EIC Accelerator Prize
• Official announcement of Argo Semiconductor's innovative 5G printed antenna
• Argo Semiconductors SA

5 The Partnerships and Customers

Argo Semiconductors: Partnerships and Developments

Argo Semiconductors, a fabless semiconductor company based in Greece, has been making significant strides in the RF technology sector, particularly in 5G sub-6GHz infrastructure solutions. Since its establishment in 2021, the company has developed innovative RFIC products and antenna technologies that have been widely adopted. Following its success, including winning the EIC Accelerator funding in March 2024, Argo has continued to expand its partnerships and customer base.

Partnerships and Customers

• HETiA Membership: Argo Semiconductors joined the Hellenic Emerging Technologies Industry Association (HETiA) in July 2023. This membership enables Argo to collaborate with other high-tech companies in Greece and the broader South-Eastern European region, contributing to the evolution of the digital industrial ecosystem.
• Industry Events Participation: The company actively participates in prestigious events like the Mobile World Congress (MWC). In 2024, Argo showcased its cutting-edge technologies, including the world’s first Active Antenna Single-Board Module in the C-band, reinforcing its position as a 5G innovator.

New Partnerships and Customers

As of the latest updates, specific names of new partners or customers have not been publicly disclosed. However, Argo's participation in major industry events and its membership in HETiA indicate a strong focus on building strategic relationships within the technology sector.

Nature and Purpose of Relationships

The partnerships and memberships are designed to enhance Argo's technological capabilities and market presence. By collaborating with other tech leaders and participating in global events, Argo aims to leverage its expertise in RF solutions to drive cost-effective deployments of 5G infrastructure. This includes offering ultra-slim antenna arrays and feature-rich RFIC products that reduce component numbers and costs for 5G massive MIMO networks.

Market Positioning

These relationships will position Argo Semiconductors as a leading provider of innovative RF solutions for 5G infrastructure. By showcasing its advancements at major events and collaborating with industry associations, Argo strengthens its reputation and expands its influence in the global semiconductor market.

Technology Advancements and Scaling

Through its partnerships and participation in industry associations, Argo Semiconductors gains access to collaborative opportunities that foster technological advancements. This includes enhancing its RFIC products and antenna technologies, which are crucial for scaling up 5G deployments efficiently. The company's focus on integrating active and passive components reduces costs and improves performance, making it an attractive partner for telecom operators and semiconductor providers.

Sources

• Argo Imiagogoi Anonymi Etaireiaargo Semiconductors Societe
• ArgoSemi.com – Argo Semiconductors LTD
• Argo Semiconductors is participating again in the prestigious 2024 Mobile World Congress (MWC)
• Argo Semiconductors joins HETiA
• Argo Semiconductors
• Argo Semiconductors SA - MWC Barcelona

6 The Hiring and Company Growth

ARGO IMIAGOGOI ANONYMI ETAIREIA (Argo Semiconductors) - Growth and Hiring

Argo Semiconductors, a Greek company specializing in RF solutions for 5G cellular infrastructure, received funding from the EIC Accelerator in 2024. Here's an overview of their growth and hiring activities post-funding:

Current Headcount and Team Size

While specific figures for the current headcount and team size of Argo Semiconductors are not publicly available, it is known that the company boasts a team with high educational credentials, including 50% holding PhD degrees and 30% holding master's degrees in relevant fields.

Hiring and Team Growth

Following the EIC Accelerator funding, there's no explicit information on whether Argo Semiconductors is currently hiring. However, the funding typically supports growth and scaling, which often involves expanding the team to meet new demands and technological advancements.

Growth and Scaling

The EIC Accelerator funding is designed to help innovative companies like Argo Semiconductors scale their operations. This support would likely contribute to growth in areas such as technology development, market expansion, and possibly team enlargement to handle increased workload and ambitions.

Key Positions and Recent Hires

There is no specific information available about recent hires or key positions filled by Argo Semiconductors. However, the company's management team includes experienced professionals like CEO Manolis Frantzeskakis and CTO Georgios Sfikas, who bring significant expertise in wireless communications and semiconductor industries.

Impact of New Team Members

New team members, if hired, would contribute to enhancing the company's capabilities in developing and commercializing RF solutions for 5G infrastructure. This expertise would be crucial in helping Argo Semiconductors scale and maintain its competitive edge in the market.

Changes in Management or Founding Team

There are no reported changes in the management or founding team of Argo Semiconductors since they received the EIC Accelerator funding.

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Sources:

• EIC Accelerator March 2024 Results: A Detailed Analysis of Funding Distribution and Success Rates
• About us – ArgoSemi.com
• ArgoSemi.com – Argo Semiconductors LTD

7 The Media Features and Publications

ARGO IMIAGOGOI ANONYMI ETAIREIA*ARGO SEMICONDUCTORS SOCIETE ANONYME: Post-EIC Accelerator Funding Activities and Visibility

EIC Accelerator 2024 Achievement
The Greek semiconductor company secured EIC Accelerator funding during the March 2024 cut-off for its project Argo Active Antenna, aimed at finalizing and optimizing a sub-6GHz 5G wireless system catalyst. The proposal emphasized revolutionizing antenna technology for enhanced 5G deployment.

Media Features and Publications
While no direct media articles or independent publications explicitly naming the company were identified in available sources, its EIC-funded project is prominently listed in official European Commission documents, accelerator analyses, and collaboration agreements. The company’s participation in EU-funded initiatives like Horizon Europe and Smart Networks (SNS JU) underscores its engagement in collaborative R&D.

Podcasts and Interviews
No publicly available podcasts, interviews, or media appearances featuring the company’s team were found. Existing search results referencing “Argo” relate to unrelated entities (e.g., Argo CD software tools), with no overlap to ARGO SEMICONDUCTORS.

Conference Participation and Events
The company is linked to SNS JU (Smart Networks and Services Joint Undertaking) activities, including governance meetings focused on advancing 6G research and cross-project collaborations. While specific conference presentations are not detailed, their involvement in SNS JU’s operational framework suggests participation in related events such as EuCNC’24, where SNS-affiliated projects had a strong presence.

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Sources

• EIC Accelerator March 2024 Results
• Collaboration Agreement - SNS JU
• D3.2: Year 2 Report on Programme Governance
• EIC Accelerator Statistics - March 2024 Call