1 The EIC Accelerator Project

EIC Accelerator Program: An Overview

The EIC Accelerator program, part of the European Innovation Council (EIC), aims to support innovative startups and small to medium-sized enterprises (SMEs) in Europe, particularly those operating within the Deep Tech sector. This initiative is designed to foster the growth of groundbreaking technologies and innovations that have the potential to create significant market impact and address pressing societal challenges. The program provides a unique blend of funding options, notably in the form of grants and equity investments, enabling companies to scale their operations and accelerate their market entry.

Funding Structure

The EIC Accelerator offers a blended finance model, which combines grant funding and equity investment. Companies can receive a grant of up to €2.5 million, which is aimed at covering specific project costs, such as research and development, prototyping, and testing. This non-repayable grant is crucial for early-stage companies that require immediate financial support to validate their innovations.

In addition to the grant, the EIC Accelerator also provides equity funding. Initially, companies could access up to €15 million in equity until 2024. However, starting in 2025, this maximum equity investment will be reduced to €10 million. This equity funding is designed to help companies secure the necessary financial backing to scale their operations, reach broader markets, and enhance their business models.

Purpose and Role in the Ecosystem

The primary objective of the EIC Accelerator is to bridge the funding gap that often exists for innovative startups and SMEs. By providing both grant and equity funding, the program minimizes financial risks and encourages companies to pursue ambitious projects. This support is particularly vital in the Deep Tech sector, which often requires substantial upfront investment and long development cycles.

The EIC Accelerator also plays a critical role in fostering collaboration between startups and private investors. By validating innovative business models and technologies, the program enhances the attractiveness of these companies to private sector funding sources. This not only helps startups scale effectively but also contributes to a robust and sustainable European startup ecosystem.

Case Study: POLYFLY SL and the HoverPollination Project

Company Overview: POLYFLY SL

POLYFLY SL is a Spanish startup that has developed an innovative approach to agricultural pollination. The company focuses on utilizing hoverflies as a new class of managed pollinators, aiming to improve the yields of vegetable, fruit, and seed crops. This project, known as HoverPollination, showcases the intersection of biotechnology and sustainable agriculture.

Project Overview: HoverPollination

The HoverPollination project aims to harness the unique capabilities of hoverflies, which are effective pollinators, particularly in controlled environments like greenhouses. Unlike traditional pollinators, hoverflies are less susceptible to environmental stresses and can operate effectively under various conditions. By introducing hoverflies as managed pollinators, POLYFLY SL seeks to enhance both the quantitative and qualitative yields of crops, thereby addressing challenges faced by farmers in ensuring reliable pollination.

Technology Basics and Background

Hoverflies, belonging to the family Syrphidae, are known for their exceptional pollination abilities. They are particularly beneficial because they can thrive in diverse environments and are less affected by climate variability compared to bees and other pollinators. POLYFLY SL's technology involves breeding and managing hoverfly populations to optimize their pollination efficiency.

The HoverPollination project integrates advanced techniques for breeding hoverflies, including controlled rearing and habitat management, to ensure that these insects can be deployed effectively in agricultural settings. The use of hoverflies not only aims to increase crop yields but also promotes biodiversity and sustainability within farming practices. This innovative approach presents a viable alternative to pollination methods reliant on traditional pollinators, which have been declining in numbers due to various environmental factors.

Conclusion

The EIC Accelerator program represents a significant advancement in supporting innovative startups within the European ecosystem, particularly in the Deep Tech sector. Through its blended finance model, the program enhances opportunities for companies like POLYFLY SL to secure necessary funding and scale their innovations. The HoverPollination project exemplifies the potential of utilizing natural solutions to address agricultural challenges, paving the way for sustainable farming practices and improved crop yields. The EIC Accelerator's backing not only boosts POLYFLY SL’s growth trajectory but also underscores the importance of innovation in achieving a more resilient agricultural landscape.

2 The Funding Rounds

Financing Raised

POLYFLY SL, based in Almería, Spain, secured significant financing through the European Innovation Council (EIC) Accelerator program after submitting a successful application for the January 11, 2023 cut-off. The EIC Accelerator is known for providing grants of up to €2.5 million and equity investments through the EIC Fund. While specific amounts awarded to POLYFLY SL have not been publicly disclosed within available sources, it is confirmed as one of 32 companies funded in this round with a share of a total budget of €195.8 million.

Most recipients in this call requested blended finance (a combination of grant and equity), which was also the dominant type for POLYFLY’s cohort. This structure typically means an initial grant tranche followed by one or more equity investments.

Funding Rounds: Timing and Amount

• January 2023: POLYFLY SL submitted its Step 2 proposal for EIC Accelerator funding and subsequently won at interview (Step 3), making it an official recipient in early-to-mid 2023.
• EIC Round Details: The January cut-off resulted in only 32 winners out of over 470 applicants; total funding distributed was €195.8 million among these companies.
• Amount per Company: While individual company awards aren't itemized publicly per source, average amounts from similar rounds suggest up to €5–7 million per company when both grant and equity are combined—though actual allocation can vary significantly depending on project needs and investor negotiations.

Investor Information

The principal investor involved with POLYFLY SL's post-EIC funding is the EIC Fund itself—a vehicle created by the European Commission to co-invest alongside other investors into high-potential European start-ups selected under Horizon Europe programs like EIC Accelerator. There are no public records indicating major private venture capital or angel investors participated directly at this stage.

However, participation by additional private co-investors can occur when triggered by follow-on rounds or as part of scaling negotiations facilitated by the EIC Fund.

Information Related to Funding Rounds

• Nature & Structure: Most recipients from this round receive blended finance—a combination that starts with non-dilutive grants followed closely or concurrently by direct equity investment via the EIC Fund.
• Disbursement Timeline: Typically, grant components are disbursed within two-to-three months after selection; equity investment decisions follow based on project milestones and urgency—usually within two months post-selection.
• Strategic Focus: The financing supports commercialization activities such as large-scale production capability (in Polyfly’s case: hoverfly pollination systems), market entry acceleration, regulatory compliance efforts, pilot projects with key customers/partners across Europe.

Company Valuations

No public sources disclose an explicit valuation for POLYFLY SL following their receipt of EIC Accelerator funding. However, given typical ranges observed among deep-tech European start-ups receiving comparable blended finance packages (€5–7+ million each), valuations often range between €10–30 million post-money depending on technology readiness level (TRL), intellectual property portfolio strength, existing revenues/pipeline traction, and market size addressed.

POLYFLY has been described as “one of the most investible companies in Europe” due to its strong financial planning capacity and leadership team expertise—factors that likely contribute positively toward its valuation trajectory beyond initial public data points.

Exit Events: IPOs & Buyouts/Acquisitions

As of May 2025:

• No record exists indicating that POLYFLY SL has undergone an exit event such as an Initial Public Offering (IPO) or acquisition/buyout.
• The company's current focus remains on expanding commercial operations throughout Europe using funds from recent public investment rounds.

Given sector dynamics—agri-tech/biotech focused on sustainable pollination solutions—and strong support from EU innovation frameworks plus growing interest from institutional partners, future M&A activity could emerge if traction continues at scale but there is no evidence yet that such discussions have advanced toward completion.

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Sources

• EIC Accelerator winners and statistics January 2023 - Strata.team
• Hoverfly pollination - Polyfly
• Types of Funding Rounds and What They Mean - gigCMO
• EIC Accelerator final 2023 cut-off funds 42 companies with up to ...
• POLYFLY company information & investors - La French Tech Ecosystem
• POLFYLY SL overview – F6S profile

3 The Press Releases

POLYFLY SL: Post-EIC Accelerator Funding Developments POLYFLY SL, a Spain-based agrotech company specializing in hoverfly-based pollination solutions, secured EIC Accelerator funding in January 2023 under the "HoverPollination" project. The company focuses on industrial-scale production of hoverflies as natural pollinators for greenhouse crops, offering an alternative to honeybees and artificial methods.

Key Details from Available Records:

• Technology: POLYFLY’s proprietary method involves domesticating hoverflies (e.g., Goldfly) for mass rearing, emphasizing automation and scalability. Their pilot plant currently produces 50,000 pupae weekly, with plans to expand to 250,000.
• Awards: Recognized earlier by TP Organics (2018) for organic innovations.
• Team: Co-founded by Marc Vaez-Olivera and Yelitza Velasques, described as having "extraordinary financial planning capacity" by Corporación Tecnológica de Andalucía.
• Recent Funding Impact: The EIC grant supports scaling production, team expansion, and investor readiness.

No press releases or blog posts from polyfly.es or affiliated social media accounts are accessible via the provided sources. Publicly disclosed updates remain limited to third-party platforms like F6S and IDEASSOnline documentation.

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Sources

• EIC Accelerator winners January 2023
• POLYFLY SL - F6S Profile
• IDEASSOnline PDF on POLYFLY

4 The Technology Advancements

Overview of Polyfly SL

Polyfly SL is a pioneering Spanish company based in Almería, known for its innovative approach to pollination using hoverflies. Founded in 2017, it is the first company worldwide to commercialize hoverflies as alternative pollinators for various crops, offering a sustainable and economically viable solution compared to traditional methods.

Current Capabilities and Advancements

Polyfly SL's capabilities revolve around the mass-rearing and commercialization of hoverflies for pollination in protected fruit, vegetable, and seed crops. These hoverflies can complement or replace traditional pollinators like bees and bumblebees, especially in scenarios where those methods are less effective. The company's approach aligns with sustainable agriculture models by utilizing organic waste in the production process.

Since receiving funding from the EIC Accelerator program in January 2023, specific advancements or updates regarding new technology features, market demonstrations, or scientific publications are not detailed in the available information. However, the company's focus on sustainable pollination solutions suggests ongoing development in this area.

Demonstrations and Market Presence

Polyfly SL's pollination solutions involve the use of hoverfly pupae, which are easy to manage and can be introduced into crops at the start of the flowering period. While there are no recent reports on new demonstrations or pilots, the company's existing method involves reintroducing hoverflies every two weeks during flowering.

Intellectual Property and Publications

There is no publicly available information on new patents filed or scientific studies published by Polyfly SL since January 2023. The company's commitment to sustainable and innovative pollination methods suggests ongoing research, but specific details are not available in the current data.

Conclusion

Polyfly SL continues to be a leader in alternative pollination solutions, leveraging hoverflies to support sustainable agriculture practices. While specific advancements post-EIC Accelerator funding are not detailed, the company's innovative approach positions it well for continued growth and development in the agricultural sector.

Sources

• Polyfly
• Polyfly SL
• Polyfly – Winner of TP Organics' Call for Innovations 2018
• Polyfly - Echosys Advisory
• Nature's cogs: helping pollinators feed the world

5 The Partnerships and Customers

POLYFLY SL, a Spanish agtech pioneer specializing in hoverfly-based pollination solutions, has strategically positioned itself through collaborative projects and institutional support since securing EIC Accelerator funding. While specific customer names remain undisclosed in public records, the company’s partnerships and operational advancements highlight its market trajectory.

Partnerships and Collaborations

• EU-Funded Projects: POLYFLY coordinated the Eurostars initiative “Pollination Strategies for Protected Crops Based on New Managed Pollinators: Hoverflies” under the Horizon 2020 framework.
• R&D with Dutch Partners: The company collaborated with unspecified Dutch entities to refine industrial-scale hoverfly breeding techniques, enabling application across diverse crops like mangoes.
• Institutional Backing: Supported by VEGEPOLYS VALLEY (a French agricultural innovation cluster) and Corporación Tecnológica de Andalucía for technology validation and growth strategies.

Market Positioning

POLYFLY’s partnerships emphasize scalability of hoverfly domestication—a first-of-its-kind approach for protected crops. These relationships enhance its credibility as a sustainable alternative to traditional pollinators like bees, particularly in greenhouse environments where conventional methods underperform.

Technology and Scaling Impact

Collaborations have enabled:

• Advanced Foraging Insights: Research into Eristalinus aeneus behavior (e.g., temperature resilience up to 37.4°C) to optimize deployment protocols.
• Production Scalability: Industrial breeding techniques developed through EU projects support large-scale hoverfly distribution for high-value crops such as berries, tomatoes, and seed producers.

While direct customer names are not publicly listed, POLYFLY targets European horticulture hubs reliant on protected cultivation systems—particularly in Spain’s Almería region—and collaborates with academic networks to validate crop-specific efficacy.

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Sources
-Polyfly.es | ERA-Learn | F6S Profile | Eureka Network Article

6 The Hiring and Company Growth

POLYFLY SL: Team Growth and Scaling Post-EIC Accelerator Funding POLYFLY SL, a Spanish agritech company specializing in hoverfly-based pollination solutions, has not publicly disclosed its current headcount or recent hiring activities in available sources. Founded in 2017 and based in Almería, the company focuses on R&D and commercialization of Eristalinus aeneus hoverflies for protected crops. After securing EIC Accelerator funding for its HoverPollination project (exact grant amount unspecified), POLYFLY’s growth appears centered on scaling production capabilities and research partnerships rather than overt team expansion.

Recent peer-reviewed studies cite POLYFLY as a supplier of hoverfly pupae for agricultural trials, indicating operational scalability through collaborations with academic institutions. While specific roles are undisclosed, the nature of these partnerships suggests potential hires in entomology, logistics, or field application specialists to meet demand. The lack of job postings or management changes in public records implies stability among founding leadership since its 2017 inception.

With the EIC Accelerator’s support, POLYFLY is positioned to expand its market presence—particularly in hybrid seed crops like celery and fennel—where its pollinators demonstrate higher efficiency than blowflies. Future growth likely hinges on commercializing trial results (e.g., optimal release densities of 15–45 hoverflies/m²) while maintaining focus on biodiversity-driven crop yields.

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Sources

• Hoverfly pollination - Polyfly
• Polyfly - Pollination with Hoverflies
• Expanding the Base for a Multiple-Species Risk Assessment Approach
• Pollination Effectiveness of the Hoverfly Eristalinus aeneus
• Pollination by the Hoverfly Eristalinus aeneus (Diptera: Syrphidae)

7 The Media Features and Publications

POLYFLY SL, a Spanish agri-tech company founded in 2017 and based in Almería, has received notable media attention and participated actively in events following its success with the EIC Accelerator funding awarded after submitting its Step 2 proposal on January 11, 2023. The company specializes in natural pollination solutions using hoverflies (Syrphidae family) as an innovative alternative to traditional pollinators like bees and bumblebees for protected crops.

Media Features and Publications

• POLYFLY SL has been featured prominently by several organizations highlighting its innovation:
• TP Organics named POLYFLY as the winner of their Call for Innovations in Organic Agriculture (2018), emphasizing the company's unique position worldwide as a commercializer of hoverflies for pollination. This publication detailed how POLYFLY's approach benefits agroecology by promoting organic principles such as circular economy through larval feeding on vegetal waste and avoiding chemical residues.
• F6S platform provides a comprehensive profile noting POLYFLY’s pioneering work domestically and internationally, mentioning support from regional innovation clusters like VEGEPOLYS VALLEY who endorse it for contributing to sustainable plant production with reduced environmental impact.
• Corporate databases such as Infoempresa list updated financials, company status, location details (Av. de la Innovación, Almería), employee size (1–9 employees), turnover (<2 million euros), alongside regular filings that indicate active business operations post-EIC funding.

Podcasts or Interviews

• Although no direct interviews or podcasts featuring the POLYFLY leadership team have been found specifically under their corporate name or founders' names within general search results,
• There exists a podcast titled "POLYFLYSUAVÉ BETTER" on Apple Podcasts; however, this appears unrelated to the company’s thematic area but rather a comedy podcast sharing similar naming conventions without evident connection to the firm.

Conference Participation & Event Involvement

• While specific conferences or fair participations post-EIC Accelerator award are not explicitly listed online,
• Earlier activities show collaboration with research institutions such as University of Almería and University of Córdoba which suggests involvement in scientific conferences related to agriculture technology innovations.
• Participation is also noted through European collaborative programs like ERA-Net projects focused on new managed pollinators including hoverflies where POLYFLY acted as coordinator indicating active roles likely including presentations or workshops at thematic events within Europe.

Summary

Since securing EIC Accelerator funding beginning early 2023:

• POLYFLY SL has garnered recognition primarily through specialized organic farming publications celebrating its breakthrough mass-rearing technology of hoverflies.
• The company's website reiterates their mission to restore biodiversity via natural alternatives for crop pollination aligned with EU sustainability goals supported financially by EIC programs.
• Direct media interviews with founders are scarce publicly; however networking via academic partnerships implies indirect event presence.

No prominent mainstream media features were identified beyond sector-specific outlets specialized in agri-tech innovation.

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Sources:

• POLYFLYs Profile on F6S
• TP Organics Innovation Winner - Polyfly
• Infoempresa Company Data
• Polyfly Official Website
• ERA-Lean Network Information — Polyfly Coordinator Role