1 The EIC Accelerator Project
The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support high-risk, high-potential small and medium-sized enterprises (SMEs) and startups in Europe. This program aims to foster innovation by providing funding, coaching, and business support to help companies scale their operations and bring groundbreaking technologies to market.Funding Structure
The EIC Accelerator offers a combination of grant and equity funding to eligible companies. The grant component can provide up to €2.5 million, aimed at covering early-stage development costs, such as research and development, prototyping, and testing of new products or services. This funding is critical for companies looking to validate their innovative solutions before seeking additional investment.
In addition to the grant, the EIC Accelerator also offers equity funding, which can amount to up to €15 million until 2024. Since 2025, this equity funding cap has been adjusted to €10 million. The equity investment helps companies secure the necessary capital to scale their operations, enhance product development, and enter new markets. This dual funding approach not only mitigates financial risk but also aligns the interests of innovators with the goals of the EIC.
Purpose in the Ecosystem
The EIC Accelerator plays a pivotal role in the European DeepTech and startup ecosystem. By providing financial backing and strategic support, the program aims to bridge the gap between innovative ideas and market readiness. It encourages startups to develop disruptive technologies that can address pressing challenges, thereby enhancing Europe's competitiveness in global markets.
Furthermore, the EIC Accelerator fosters collaboration between startups and private investors, helping companies attract additional funding. This is crucial for scaling operations and achieving long-term sustainability. The backing from the EIC lends credibility to the startups, making them more attractive to private investors and venture capitalists.
Case Study: ScanTrust B.V. and the SECURE QR CODE Project
ScanTrust B.V., a Netherlands-based company, was recognized as a winner of the EIC Accelerator for its project, SECURE QR CODE, which focuses on the secure authentication of products. The project was submitted under Step 2 of the EIC Accelerator process on October 5, 2022, and subsequently succeeded in the Step 3 interview.
Project Overview
The SECURE QR CODE technology aims to revolutionize product authentication and anti-counterfeiting measures across various industries. The core solution involves a unique, secure QR code that can be easily scanned by consumers to verify the authenticity of products. This technology addresses the increasing concerns surrounding product counterfeit, which not only threatens consumer safety but also undermines brand integrity and revenue.
Technology Basics
The SECURE QR CODE employs advanced cryptographic techniques to generate unique identifiers for each product, ensuring that each code is tamper-proof and verifiable. When a consumer scans the QR code using a smartphone, they receive real-time information about the product's origin, supply chain, and authenticity. This not only enhances consumer trust but also empowers businesses to combat counterfeit products effectively.
The technology leverages blockchain to maintain a secure, immutable record of each transaction related to the product, from manufacturing through to retail. This transparency is crucial for both consumers and businesses, allowing for traceability and accountability in the supply chain.
The project aims to serve various sectors, including pharmaceuticals, luxury goods, and consumer electronics, where counterfeiting poses significant challenges. By implementing this technology, companies can reduce losses associated with counterfeit goods, enhance customer loyalty, and promote sustainable practices.
Conclusion
The EIC Accelerator, through its innovative funding structure and support mechanisms, plays a vital role in nurturing startups and SMEs like ScanTrust B.V. The SECURE QR CODE project exemplifies how technology can solve critical industry problems, enhancing product authentication and consumer trust. As the European startup ecosystem continues to evolve, initiatives like the EIC Accelerator remain essential for driving innovation and economic growth.
2 The Funding Rounds
ScanTrust B.V. Funding and Financing Events Since EIC Accelerator Award
EIC Accelerator Funding (2022-2023)
ScanTrust B.V., headquartered in the Netherlands, was awarded €2.35 million in funding through the highly competitive EIC Accelerator program following its successful Step 2 proposal submission on October 5, 2022, and subsequent interview win. This non-dilutive grant positioned ScanTrust to further develop its smartphone-based authentication technology and expand features to address new regulatory requirements such as EU Digital Product Passports and updated wine label mandates.
Funding Rounds Overview
Prior to the EIC Accelerator award:
- Seed Round (2015): ScanTrust completed a seed round led by SOSV.
- Series A (2017): The company raised Series A financing led by Credit Suisse.
There is no public record of additional equity funding rounds or major venture capital injections for ScanTrust B.V. since receiving the EIC Accelerator award in late 2022.
Timing and Amounts of Key Rounds
| Year | Type | Amount | Lead Investor |
|---|---|---|---|
| 2015 | Seed | Not disclosed | SOSV |
| 2017 | Series A | Not disclosed | Credit Suisse |
| 2023 | EIC Grant | €2.35 million | European Innovation Council |
</em>The EIC grant was publicly confirmed after selection round results announced post-Oct 2022 cutoff.
Investor Information
- Seed Round: Led by SOSV.
- Series A: Led by Credit Suisse.
Company Valuation There are no recent public disclosures or media reports specifying updated company valuations for ScanTrust B.V. following its receipt of the EIC Accelerator grant. Earlier rounds' valuation details also remain undisclosed.
Exit Events As of May 2025:
- No initial public offering (IPO) has occurred involving ScanTrust B.V.
- There are no records of major acquisition or buyout events related to this entity post-EIC funding.
Summary Table: Post-EIC Funding Status
| Date | Event Type | Amount | Details |
|---|---|---|---|
| Oct 2022 | Step 2 Proposal Submitted (EIC) | - | Qualified for final interview |
| Dec/Jan | Official Award Notification | €2.35M | For digital product passport/traceability tech |
| </em>estimation based on typical award cycles |
No further private financing rounds, secondary market activity, or liquidity events have been reported since October 2022.
Sources
- EIC awards Scantrust with €2.35 million in accelerator funding
- Scantrust – Funding, Valuation, Investors, News - Parsers VC
- Scantrust - Wikipedia
3 The Press Releases
Since ScanTrust B.V. received the EIC Accelerator funding on October 5, 2022, the company has continued to innovate and expand its offerings in the area of QR code solutions for global brands. Here are some key developments:Company Overview
ScanTrust is a Netherlands-based company that specializes in creating and managing QR code campaigns for brands. They focus on connecting brands with customers, ensuring compliance with digital labeling laws, detecting counterfeits, and resolving distribution issues.Partnerships and Projects
- Unilever Collaboration: ScanTrust collaborated with Unilever on food traceability solutions, including a project for Knorr's pork meat traceability. This partnership highlights ScanTrust's capacity to contribute to supply chain transparency.
- ePac Flexible Packaging: ScanTrust announced a partnership with ePac Flexible Packaging to integrate smart packaging features like anti-counterfeiting into flexible packaging solutions for businesses of all sizes.
Technology Advancements
Press Releases and Blog Updates
Social Media and Press Coverage
Sources:
4 The Technology Advancements
ScanTrust B.V.: Post-EIC Accelerator Funding Developments Scantrust, a Netherlands-based connected packaging and anti-counterfeiting solutions provider, has expanded its technological capabilities and market partnerships since receiving €2.35 million in EIC Accelerator funding in late 2022. Below is an analysis of their advancements post-funding:Technological Improvements & New Features
- U-label Partnership for EU Wine Compliance: Scantrust became the official software provider for U-label, enabling wineries to comply with EU digital labeling regulations through dynamic QR codes. The solution supports real-time updates, multilingual translations, and secure QR code integration.
- Anti-Counterfeiting Innovations: Collaborative efforts with SCREEN Europe enhanced secure QR code printing using high-resolution inkjet technology (Truepress L350UV SAI), enabling instant smartphone authentication without specialized apps.
- Connected Packaging Expansion: Scantrust’s partnership with ePac introduced ePacConnect, embedding serialized QR codes into flexible packaging for consumer engagement, supply chain tracking, and anti-counterfeiting.
Market Demonstrations & Customer Deployments
- Global Supply Chain Traceability: Scantrust’s workflow apps now track products across distributors and pallets, providing end-to-end traceability analytics for clients like DuPont and ExxonMobil.
- Compliance Solutions Adoption: The U-label by Scantrust software is actively used by European wineries to meet 2023 EU labeling mandates for ingredient transparency.
Intellectual Property & Publications
While no new patents or peer-reviewed studies are explicitly cited:Sources Used in This Analysis:
[] Note: The privacy policy URL appears mistyped here; the correct link is likely https://www.scntust.com/privacy-policy/ (though this may be a typo—the accurate URL from search results is https://www.scntust.com/privacy-policy/ as listed in Result 10). For precision, refer directly to Result 10’s source.
5 The Partnerships and Customers
ScanTrust B.V. Overview and Partnerships
ScanTrust B.V., a Netherlands-based company, received EIC Accelerator funding in October 2022. The company specializes in providing innovative anti-counterfeiting solutions using secure QR codes (SQRCodes) that offer high security and traceability for both brand owners and consumers. These SQRCodes can be affixed to any product, allowing anyone to authenticate the product and trace its origins.
Partnerships and Customers
ScanTrust B.V. has established partnerships with several prominent entities:
- SCREEN Europe: This partnership utilizes SCREEN Europe's inkjet technology to print high-quality, serialized QR codes necessary for authenticating products. The collaboration enhances ScanTrust's ability to provide secure and cost-effective anti-counterfeiting solutions.
- ePac Flexible Packaging: ScanTrust partnered with ePac to introduce ePacConnect, a connected packaging solution that integrates Scantrust's secure QR codes on flexible packaging for consumer packaged goods companies.
- Cardano Foundation: In 2021, ScanTrust entered into a partnership with the Cardano Foundation to leverage blockchain technology for supply chain traceability and anti-counterfeiting. This collaboration aims to enhance transparency and security across supply chains.
- Domino Printing Sciences: Recently, ScanTrust collaborated with Domino, known for its advanced printing technology, to enhance the production of secure QR codes.
New Relationships and Purpose
The new partnerships focus on expanding ScanTrust's capabilities in secure printing and blockchain integration. For instance, the partnership with SCREEN Europe is crucial for producing high-quality QR codes efficiently, while the collaboration with the Cardano Foundation enhances the use of blockchain to secure supply chains.
Market Positioning and Technology Advancements
These partnerships position ScanTrust B.V. as a leader in anti-counterfeiting and supply chain traceability solutions. By leveraging cutting-edge printing technology from SCREEN Europe and blockchain capabilities from the Cardano Foundation, ScanTrust can offer more robust and scalable solutions to its clients. This scaling in technology will help the company address the growing demand for secure and traceable packaging solutions across various industries.
Scaling and Market Impact
The collaborations will enable ScanTrust to scale its operations and provide more comprehensive services to its customers. By integrating advanced printing and blockchain technologies, ScanTrust is well-positioned to expand its market presence and offer innovative solutions that enhance customer engagement and product authenticity.
Sources: - Scantrust
- Blog - Scantrust
- Secure Authentication of Products for Everyone - CORDIS
- Securing authenticity: SCREEN Europe and Scantrust partner to protect brands and consumers
- Cardano Foundation Announces Partnership With Supply Chain Traceability Solution Scantrust
- ePac Flexible Packaging & Scantrust in a Connected Packaging
- Scantrust shows authentication solutions at Traceability forum
- Become a Scantrust partner
6 The Hiring and Company Growth
ScanTrust B.V. Overview
ScanTrust B.V., a leading anti-counterfeiting and connected packaging technology provider, has been making significant strides since receiving the EIC Accelerator funding in October 2022. The company is headquartered in the Netherlands and operates globally, with notable offices in Lausanne, Berlin, Shanghai, and Amsterdam.
Team Size and Growth
Currently, ScanTrust has a diverse team with members from 15 different countries, indicating a strong international presence and commitment to global collaboration. While the exact current headcount is not publicly disclosed, the company's expansion across various locations suggests substantial team growth.
Hiring and Recruitment
ScanTrust is actively involved in hiring processes to support its global operations and innovative projects. The company encourages potential candidates to join its team across multiple locations, indicating ongoing recruitment efforts.
Recent Developments and Positions
Key positions like those in product development and operations would be crucial for a company like ScanTrust, which focuses on cutting-edge anti-counterfeiting solutions. However, specific details about recent hires are not available. The company's emphasis on innovation, customer connection, and supply chain transparency suggests that new team members play a vital role in enhancing these capabilities.
Impact of New Team Members
The addition of new team members to ScanTrust helps the company scale and grow by enhancing its technological offerings and expanding its market reach. These new hires contribute to developing and implementing more sophisticated connected packaging solutions, which are essential for building customer trust and combating counterfeits.
Management and Founding Team Changes
There is no publicly available information on significant changes in the management or founding team of ScanTrust since the EIC Accelerator funding. The company's leadership includes Nathan J. Anderson as Co-founder & CEO and Justin Picard as Co-founder & CTO, among others.
Future Prospects
With the EIC Accelerator funding, ScanTrust is well-positioned to further develop its innovative technologies and expand its global presence. The funding will likely support the company's goals to enhance its anti-counterfeiting solutions, improve supply chain transparency, and strengthen customer engagement through connected packaging.
Sources: - About - Scantrust
- Scantrust
- Scantrust on the App Store
- Scantrust B.V. full company profile
- Scantrust Pricing, Cost & Reviews
7 The Media Features and Publications
ScanTrust B.V. Overview
ScanTrust B.V. is a Dutch subsidiary of the Swiss-based company Scantrust, which specializes in anti-counterfeiting and product traceability technologies. Despite its Dutch incorporation, the parent company, Scantrust, is headquartered in Lausanne, Switzerland, and provides connected packaging solutions globally. Since receiving the EIC Accelerator funding in October 2022, Scantrust has continued to expand its services in brand protection, supply chain traceability, and smart packaging solutions.
Media Features and Publications
While specific media publications directly mentioning ScanTrust B.V. are not widely documented, Scantrust's parent company has been recognized for its innovative anti-counterfeiting and traceability solutions. These solutions have been implemented across various industries, including luxury goods, food products, and industrial machines. The company's technology utilizes secure QR codes that can detect counterfeit products by incorporating a copy detection pattern, which degrades upon copying.
Podcasts and Interviews
There is no specific information available about podcasts or interviews featuring the team of ScanTrust B.V. However, the company's expertise in anti-counterfeiting and traceability makes it a potential participant in discussions related to supply chain security and product authentication.
Conferences and Event Participation
Scantrust participated in the Traceability and Authentication forum in Delhi, India, in July 2023, where it showcased its authentication solutions alongside Domino Printing Sciences. This event highlighted Scantrust's commitment to combating counterfeiting in emerging markets like India. The company also collaborates with various partners, including HP Indigo and SAP, showcasing its involvement in major industry events.
Involvement in Events
Since receiving the EIC Accelerator funding, Scantrust has likely increased its participation in industry events to promote its innovative solutions for brand protection and supply chain transparency. However, specific details about recent event participations by ScanTrust B.V. are not readily available.
Sources
- Scantrust
- About - Scantrust
- Scantrust - Wikipedia
- Scantrust B.V. full company profile on Creditsafe
- Scantrust Information - RocketReach
- Scantrust shows authentication solutions at Traceability forum
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