1 The EIC Accelerator Project

EIC Accelerator Program Overview

The European Innovation Council (EIC) Accelerator program is a key initiative aimed at supporting innovative startups and small and medium-sized enterprises (SMEs) within the European Union. This program focuses on high-risk, high-potential ventures primarily in the DeepTech sector, which includes advanced technologies like artificial intelligence, biotechnology, and clean energy.

The EIC Accelerator provides funding in two main forms: grants and equity investments. The grant component offers financial support of up to €2.5 million, enabling companies to develop and scale their innovations. The equity component, initially set at up to €15 million until 2024, has been adjusted to a maximum of €10 million from 2025 onward. This dual funding approach is designed to meet the diverse financial needs of startups, allowing them to advance their projects with reduced reliance on traditional venture capital.

Purpose and Impact

The EIC Accelerator aims to enhance the European startup ecosystem by fostering innovation and facilitating the commercialization of cutting-edge technologies. By providing substantial financial backing, the program helps companies scale effectively, attract private sector investment, and create jobs. Moreover, the EIC Accelerator serves as a catalyst for innovation, encouraging collaboration between businesses, research institutions, and public bodies.

Role in Scaling Companies

The EIC Accelerator plays a pivotal role in bridging the funding gap that many startups face, particularly in their early stages. By offering both grants and equity, the program provides companies with the necessary capital to develop their technologies, conduct market research, and launch their products. This financial support not only helps to de-risk investments for private investors but also demonstrates the viability of innovative projects, thereby attracting further funding.

EIC Accelerator Winner: HEXAGEM AB

Company and Project Overview

HEXAGEM AB, based in Sweden, is an innovative company recognized for its groundbreaking project titled "InGaNious." This project focuses on the development of next-generation Indium Gallium Nitride (InGaN) micro LEDs, a technology that holds transformative potential for various applications, including displays, lighting, and communication systems.

Technology Basics and Background

Indium Gallium Nitride (InGaN) is a semiconductor material that has garnered significant attention in the field of optoelectronics due to its ability to emit light across a wide spectrum. Micro LEDs, which are tiny LEDs measuring less than 100 micrometers, leverage this material to produce high-quality brightness, energy efficiency, and color purity.

The InGaNious project aims to revolutionize the micro LED industry by addressing some of the current challenges, such as production scalability and cost-effectiveness. By utilizing advanced fabrication techniques, HEXAGEM AB seeks to create micro LEDs that not only outperform existing technologies in terms of efficiency and longevity but also enable new possibilities in display technologies, including augmented reality (AR) and virtual reality (VR).

The project was submitted as a Step 2 proposal on June 15, 2022, and subsequently progressed to a Step 3 interview, culminating in the successful award of EIC Accelerator funding. This recognition underscores the project’s potential impact on the semiconductor and display markets.

Conclusion

The EIC Accelerator program represents a vital resource for innovative companies like HEXAGEM AB, facilitating their growth and technological advancements. With substantial backing through grants and equity, the InGaNious project is poised to make significant contributions to the micro LED sector, ultimately enhancing the capabilities of modern display technologies and influencing the future of optoelectronics.

2 The Funding Rounds

Hexagem AB, a Swedish company specializing in advanced GaN-based wafers for microLEDs and power electronics, secured EIC Accelerator funding after submitting its Step 2 proposal on June 15, 2022. Since then, available data about Hexagem’s financing and funding history is as follows:

Financing Raised and Funding Rounds

• Hexagem has received several rounds of funding since its inception:
• In January 2015, it received investment from Lund University (amount not disclosed).
• In January 2017, Almi Invest invested SEK 2.0 million.
• In December 2018, Hexagem was awarded €50,000 from the European Innovation Council (EIC).
• Additional EIC funding was granted in June 2019 (amount unspecified).
• These rounds reflect a combination of public innovation grants and institutional investments aimed at advancing their wafer technology.

Timing and Amounts

• Early-stage investments:
• Jan 2015: Lund University support (no amount specified)
• Jan 2017: Almi Invest SEK2.0 million
• European Innovation Council grants:
• Dec 2018: €50k
• Jun 2019: Additional EIC support
• Specific amounts beyond these are not publicly detailed.

Investor Information

• Institutional investors include Lund University and Almi Invest.
• The European Innovation Council has also been a key supporter through grant programs.
• There is no public information indicating participation by private venture capital or angel investors at this time.

Company Valuations

No publicly available data was found regarding Hexagem AB’s company valuation during or after these financing events.

Exit Events such as IPOs or Acquisitions

There is no information indicating that Hexagem AB has undergone an IPO or any buyout/acquisition event to date.

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In summary, since winning the EIC Accelerator funding around mid-2022 following earlier seed/innovation grants starting from at least January 2015 with institutional backing mainly from Swedish innovation bodies and EU programs, Hexagem’s financing primarily consists of small to medium-sized early-stage investments rather than large venture capital rounds or public market exits.

Sources

3 The Press Releases

HEXAGEM AB: EIC Accelerator Winner

Hexagem AB, a Swedish company, was awarded the EIC Accelerator funding on June 15, 2022. Since then, the company has continued to innovate in the semiconductor sector.

Technology Advancements

Hexagem specializes in pioneering a vertical nanowire growth process for GaN-on-silicon semiconductors. This technology aims to produce devices as efficient as the market's best GaN devices while reducing defects significantly. Initially, their semiconductors had about 100 million defects per square centimeter, but they aim to improve this to around 10 million defects, surpassing current competition.

Partnerships and Funding

Hexagem received significant funding through the European Union in 2019 to develop its patented method for growing high-quality GaN layers. This grant enabled the company to expand its operations and collaborate with RISE Research Institutes of Sweden, utilizing facilities like cleanrooms and MOCVD reactors to advance its nanowire technology.

Press Releases and Updates

Hexagem does not appear to have a comprehensive press release section on its website or social media accounts. However, its advancements in GaN-on-silicon technology have been noted in industry publications for their potential to disrupt the market with more efficient semiconductor devices.

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Sources: - Hexagem: the only way is up

4 The Technology Advancements

HEXAGEM AB: Current Capabilities and Advancements

HEXAGEM AB, a Swedish company, specializes in developing high-quality Gallium Nitride (GaN) on Silicon wafers for power electronics and InGaN templates for microLED applications. The company has been working towards enhancing its semiconductor technology to improve efficiency and scalability.

Current Capabilities

HEXAGEM focuses on creating next-generation GaN-on-silicon semiconductors, aiming to reduce costs and enhance scalability for future applications. Their technology allows for vertical current flow, enabling devices to handle higher currents and voltages, which is crucial for applications requiring high voltage ratings, such as 1,200-V devices. HEXAGEM also develops InGaN templates suitable for microLED fabrication, capable of emitting red, green, or blue light.

Advancements Since EIC Accelerator Funding

Following the EIC Accelerator funding in June 2022, HEXAGEM has continued to advance its technology. While specific advancements since the funding are not detailed in publicly available information, the company's focus remains on developing high-quality GaN-on-silicon wafers and InGaN templates.

Technology Demonstrations and Market Presence

There is no publicly available information indicating that HEXAGEM has demonstrated its technology in pilots or with customers specifically since the funding. However, their technology is designed to be licensed to industrial partners, which suggests a strategy for market engagement.

Patents and Scientific Contributions

HEXAGEM has been active in filing patents related to semiconductor fabrication. For example, they have patented methods for fabricating InGaN semiconductor templates and devices with planar III-N semiconductor layers. While no new scientific studies or whitepapers have been reported since the funding, their patent filings indicate ongoing innovation.

Conclusion

HEXAGEM AB continues to develop cutting-edge semiconductor technologies, focusing on GaN-on-silicon and InGaN microLED solutions. Their advancements are primarily reflected in their innovative semiconductor designs and patent filings. Further details on specific market demonstrations or new features since the EIC funding are not publicly available.

Sources

• Hexagem – Perfect GaN
• Next Generation of GaN for Electrification
• Patents Assigned to HEXAGEM AB
• EIC Accelerator 15 June cut-off

5 The Partnerships and Customers

HEXAGEM AB's Strategic Partnerships and Market Positioning Post-EIC Accelerator Funding

HEXAGEM AB, a Lund University spin-out specializing in gallium nitride (GaN) semiconductor technology, has focused on advancing its vertical GaN-on-silicon solutions for power electronics and microLED applications since securing EIC Accelerator funding in June 2022. While specific customer names remain undisclosed in available sources, the company’s collaborations and technological roadmap highlight key market positioning efforts.

Key Partnerships and Collaborations

• RISE Research Institutes of Sweden: HEXAGEM collaborates with RISE ProNano to scale its GaN epitaxy processes, particularly for thicker (10+ µm) layers on larger silicon wafers. This partnership aims to transition lab-scale innovations into industrial production workflows.
• Industry Licensing Model: HEXGEM targets licensing agreements with semiconductor manufacturers seeking high-quality GaN-on-Si wafers for 1,200V power devices. Though specific partners are unnamed, their technology is designed to serve electric vehicle (EV) and energy infrastructure markets.

Technological Advancements from Collaborations

The RISE collaboration enables process optimization for:

• Defect Reduction: Hexagem’s nanowire coalescence technique aims to reduce dislocation densities below 10⁸ cm⁻², critical for improving device efficiency in high-voltage applications.
• Vertical Device Design: By enabling current flow perpendicular to the wafer plane, Hexagem’s approach reduces component footprint while supporting higher current densities—key for EV inverters and grid infrastructure.

Market Positioning Post-Funding

Hexagem’s focus on InGaN platelet technology positions it as a contender in microLED markets (AR/VR displays), while its eleGaNt project targets next-gen power electronics. The EIC Accelerator funding likely accelerated scaling efforts through:

• Wafer Size Expansion: Transitioning from small-scale prototypes to 200mm wafer production capabilities via RISE testbeds.
• IP Development: Strengthening patents around strain-relaxed InGaN templates vital for red microLED emission—a persistent industry bottleneck.

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Sources
RISE Collaboration Overview | Hexagem Technology Profile

6 The Hiring and Company Growth

Hexagem AB's Post-EIC Accelerator Growth and Team Dynamics Hexagem AB, a Sweden-based nanotechnology firm specializing in advanced GaN-based wafers for micro-LEDs and power electronics, has maintained a compact operational footprint since its EIC Accelerator win in June 2022. While specific hiring metrics post-funding are not publicly detailed, the company operates with approximately 8 employees as per recent data.

Available information does not explicitly outline recent hiring campaigns or team expansions directly tied to the EIC funding. However, as a deep-tech startup in a specialized field, Hexagem’s growth likely centers on scaling production capabilities and R&D efforts for next-generation semiconductor materials—critical areas where accelerator funding often drives recruitment in engineering and technical roles.

No major management changes or leadership transitions have been reported since 2022. The company’s focus on nanotechnology innovation positions it to address growing demand for energy-efficient electronics and micro-LED displays, with potential hires expected to bolster its manufacturing scalability and IP development pipelines.

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Sources

• Hexagem company information
• Hexagem AB profile

Note: No direct post-2022 hiring data or financial disclosures were located for Hexagem AB; details above reflect the latest available records.

7 The Media Features and Publications

HEXAGEM AB, a Swedish company specializing in high-quality gallium nitride (GaN) on silicon wafers for power electronics and µLED applications, has garnered media attention primarily within the semiconductor and nanotechnology research communities since its EIC Accelerator funding win in June 2022.

Media Features and Publications

While direct mainstream media coverage appears limited, HEXAGEM AB has been mentioned in specialized publications related to semiconductor technology. Notably, Lund University acknowledged HEXAGEM’s technical leadership and shared data on GaN nanowires grown on substrates patterned using advanced lithography tools. This was highlighted in Semiconductor Today Magazine, which discussed how HEXAGEM’s collaboration helped evaluate Eulitha's PhableR 100 DUV nano-lithography system for developing nanowire devices—important for LED and solar cell research.

Podcasts or Interviews

There are no specific podcasts or interviews publicly available directly featuring the HEXAGEM team from the search results. However, Hexagon Manufacturing Intelligence (a different entity) hosts multiple podcast series about industry innovations, but no direct connection to HEXAGEM AB is found there.

Conferences, Fairs, Presentations

No explicit records of conference visits or presentations by HEXAGEM were identified in the available data. However, given their active role in advanced GaN technologies relevant to semiconductor materials science—as implied by their involvement with Lund University's nano-lab projects—participation at scientific conferences like those focused on physical chemistry of semiconductor materials could be expected though not confirmed here.

Involvement in Events

Beyond academic collaborations such as with Lund University’s NanoLund center involving cutting-edge lithography equipment usage, there is no detailed evidence of other event involvements or public presentations.

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In summary:

• Media Features: Limited primarily to niche industry publications; highlighted involvement with Lund University’s advanced lithography system testing for GaN applications.
• Publications: Semiconductor-related journals have noted their technical contributions particularly around GaN nanowires.
• Podcasts/Interviews: No documented appearances.
• Conferences/Fairs: No explicit records found; possible participation inferred but unconfirmed.
• Events Involvement: Collaborated closely with research institutions like NanoLund at Lund University.

This reflects a profile typical of a specialized deep-tech startup focused on R&D collaborations rather than broad public media presence since their 2022 EIC Accelerator award.

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Sources:

• Hexagem Official Website
• Semiconductor Today - Hexagem & Nanowire Devices
• Physical Chemistry of Semiconductor Materials Conference Details
• Hexagon Podcasts Overview