1 The EIC Accelerator Project

EIC Accelerator Program: An Overview

The European Innovation Council (EIC) Accelerator program is a pivotal funding initiative designed to support small and medium-sized enterprises (SMEs) and startups, particularly those engaged in innovative projects in the deep-tech sector. Launched as part of the Horizon Europe framework, the program aims to foster breakthrough innovations that can drive economic growth and address societal challenges across Europe. The EIC Accelerator provides tailored financial support, mentorship, and access to networking opportunities to help high-potential companies transition from early-stage development to market-ready solutions.

Funding Structure

The EIC Accelerator employs a blended finance model, which combines grants and equity investments to maximize the impact of funding. Under this program, companies can receive:

• Grants: Up to €2.5 million in non-dilutive funding is available to cover costs related to innovation, such as research and development, prototyping, and testing. This funding is crucial for startups that require capital to validate their technologies and demonstrate their viability without giving away equity.
• Equity: The program also offers equity investments ranging from €15 million until 2024, and subsequently, up to €10 million from 2025 onwards. This funding is typically used to scale operations, enhance production capabilities, and expand market reach. By providing equity investment, the EIC Accelerator helps companies attract additional private sector funding, reinforcing their financial stability and growth potential.

Purpose of the EIC Accelerator

The EIC Accelerator serves as a catalyst for innovation within the European entrepreneurial ecosystem, particularly in deep-tech sectors, which include advanced materials, biotechnology, and other cutting-edge technologies. The program aims to bridge the funding gap that often exists for early-stage companies, enabling them to secure the necessary resources to develop and commercialize their innovative ideas. By supporting ambitious startups, the EIC Accelerator contributes to job creation, enhances Europe’s competitiveness, and fosters the development of sustainable solutions to pressing global challenges.

Role in Scaling and Securing Private Funding

One of the critical functions of the EIC Accelerator is to facilitate the scaling of companies by providing them with the financial resources needed to grow. The blended finance model allows startups to leverage initial funding from the EIC to attract further investments from private investors, venture capitalists, and other financial institutions. This ecosystem of support not only increases the companies' chances of success but also enhances their credibility in the marketplace.

EIC Accelerator Winner: BIOWEG

Company Overview

BIOWEG, based in Germany, is an innovative startup focused on developing sustainable alternatives to synthetic polymers and microspheres. The company's project, titled Bioweg, aims to revolutionize the production of biodegradable additives through a zero-waste process. BIOWEG's commitment to environmental sustainability positions it as a key player in the growing market for eco-friendly materials.

Project Description

The Bioweg project focuses on creating all-natural, biodegradable replacement additives for synthetic polymers, which are widely used in various industries, including packaging, cosmetics, and coatings. The traditional production of these additives often results in significant waste and environmental harm. By employing a zero-waste process, BIOWEG aims to minimize ecological impact while providing high-quality alternatives.

Technology Basics and Background

The technology underlying the Bioweg project is centered on innovative bioprocessing techniques that utilize renewable biomass as raw material. This approach not only reduces dependency on fossil fuels but also aligns with circular economy principles by ensuring that resources are reused and recycled.

BIOWEG’s process involves several key steps:

In summary, the EIC Accelerator program plays a vital role in nurturing innovative companies like BIOWEG, providing them with the financial support and strategic guidance necessary to bring groundbreaking technologies to market. Through its dual funding mechanism, the EIC Accelerator not only empowers startups to scale their operations but also enhances the overall sustainability of the European manufacturing sector.

2 The Funding Rounds

BIOWEG, a German biotechnology startup founded in 2019 and headquartered in Quakenbrück, Germany, specializes in producing all-natural, biodegradable replacement additives for harmful synthetic polymers and microspheres using industry waste. Since winning the European Innovation Council (EIC) Accelerator funding following their Step 3 interview on October 6, 2021, BIOWEG has notably expanded its financial backing and strategic partnerships.

Financing Raised and Funding Rounds

• BIOWEG's key recent funding rounds include:
• August 2020: An early round with unspecified investors but no publicly disclosed amount.
• October 2021: Received €650k from the European Innovation Council.
• November 2021: Secured €2.4 million related to RootCamp at SpinLab Incubator.
• Additionally, they have participated in accelerator/incubator programs such as those by Plug and Play Accelerator, Creative Destruction Lab, and MassChallenge Switzerland.
• Their latest reported funding round is classified as "Incubator/Accelerator - III," which aligns with their ongoing growth phase post-EIC grant.

Timing and Amount of Funding Rounds

• The EIC grant of approximately €12.6 million (reported elsewhere) is a major milestone that supports their innovation to develop sustainable bio-based materials replacing fossil-based polymers.
• Prior seed or pre-Series A rounds appear modest or undisclosed publicly but are tied to regional incubators and accelerators between mid-2020 to late 2021.

Investor Information

Key investors include prominent accelerators such as Plug and Play Accelerator (USA), Creative Destruction Lab (Canada), MassChallenge Switzerland; however specific corporate venture capital or institutional investor names beyond these accelerators are not detailed.

Company Valuations

There is no public disclosure of company valuation figures available from the sources reviewed.

Funding or Exit Events

• No exit events such as acquisitions or IPOs have been reported for BIOWEG so far.
• The significant recent financing event was winning the EIC Accelerator blended finance package combining grants with equity investments aimed at scaling deep-tech startups across Europe.

Strategic Partnerships Related to Funding Impact

In addition to financing events:

In February 2023, BIOWEG announced a partnership with Ginkgo Bioworks (NYSE: DNA), a leading synthetic biology platform company. This collaboration aims to optimize bacterial cellulose production—a key raw material enabling biodegradable alternatives—and develop novel variants for multiple industries including personal care and cosmetics. This partnership leverages BIOWEG’s EIC-funded technology innovations toward commercial scale applications reducing microplastic pollution globally.

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Summary Table

Date	Round / Event	Amount Raised	Investors / Partners
Aug 2020	Early Round	N/A	Unspecified investors
Oct 2021	European Innovation Council	€650k	EIC
Nov 2021	RootCamp SpinLab Incubator	€2.4 million	SpinLab
Post-Oct '21	Incubator/Accelerator III	N/A	Plug & Play Accelerator; others
Feb 2023	Strategic Partnership	-	- Ginkgo Bioworks

BIOWEG’s trajectory since receiving the EIC Accelerator funding has been one of accelerating growth via substantial EU-backed grants combined with strategic incubator support and partnerships that enhance its technology capabilities. While exact valuation data remains undisclosed publicly, their strong positioning within sustainability-driven biotech innovation backed by over €12M in EU funds underscores significant investor confidence without any exit yet recorded.

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Sources:

• Dealroom.co BIOWEG profile
• Opportunity Austin Ecosystem on BIOWEG
• CB Insights on Bioweg
• BIOWEG-Ginkgo partnership announcement
• EIC Accelerator results summary Feb '25
• European Innovation Council official info

3 The Press Releases

Overview of BIOWEG

Company Overview: BIOWEG is a German biotech startup focused on developing innovative bio-based materials. Since receiving EIC Accelerator funding in October 2021, the company has made significant strides in replacing synthetic polymers with sustainable alternatives.

Partnerships

• Bayer Partnership: BIOWEG has forged a collaborative partnership with Bayer to develop sustainable formulation materials for seed coatings and controlled-release plant protection products. This partnership highlights BIOWEG's commitment to advancing sustainable agricultural solutions.
• Ginkgo Bioworks Partnership: BIOWEG and Ginkgo Bioworks are working together to develop cost-effective and efficacious bio-based materials to reduce the use of microplastic pollutants. This collaboration aims to optimize the production of bacterial cellulose and create novel variants with improved performance for various markets.

Technology Advancements

• Bacterial Cellulose Production: BIOWEG utilizes a zero-waste fermentation system to upcycle agricultural and food waste into bacterial cellulose. This cellulose is then modified and functionalized for use in diverse applications, offering a sustainable alternative to microplastics.
• Rheology Testing: The company has enhanced its rheology testing capabilities with the addition of a NETZSCH Kinexus Prime pro+ Rheometer, marking a significant step in improving its material testing and development processes.

Team Updates

While specific team updates are not detailed in recent press releases, the company's leadership under CEO Prateek Mahalwar continues to drive innovation and strategic partnerships.

Patents and Awards

Awards: BIOWEG was honored with the KfW Award Gründen for Niedersachsen, recognizing its innovative contributions. Additionally, it was selected as one of the top sustainability startups at the LVMH Innovation Award 2023.

Press Releases and Updates

Recent press releases on BIOWEG's website highlight its partnerships, technological advancements, and awards. These include collaborations with major companies like Bayer and Ginkgo Bioworks, as well as its recognition for sustainable practices.

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Citations: - Bioweg Media Page

• Bioweg Media Blogs
• Bioweg Media
• Bioweg and Ginkgo Bioworks Partnership
• Bioweg – Revolutionizing The Future Of Bio-Ingredients
• BIOWEG and Bayer Forge Collaborative Partnership
• Bioweg and Ginkgo Bioworks to Develop Bio-Based Materials
• Bioweg's MicBeads100 Microplastic Alternative

4 The Technology Advancements

Overview of BIOWEG's Current Capabilities and Advancements

BIOWEG, a German biotech company, has been at the forefront of developing sustainable bio-based ingredients. Since receiving the EIC Accelerator funding in October 2021, the company has made significant strides in technology development, market demonstration, and strategic partnerships.

Current Capabilities

BIOWEG specializes in producing biodegradable alternatives to microplastics using bacterial cellulose. This approach involves fermentation and green chemistry to convert waste products from the food and agricultural industries into high-value-added products. Their technology combines fermentation, material science, and molecular simulation to create sustainable ingredients for various industries, including personal care, cosmetics, and food processing.

Advancements Since Receiving EIC Funding

Scaling Up and Improving Efficiency: BIOWEG has successfully scaled up its production processes, moving from a pilot plant to securing its first purchase orders. The company has grown significantly, expanding from a team of six to eighteen, and is focused on enhancing production efficiency through process engineering and automation.

New Product Developments: BIOWEG has developed a bio-based hydrocolloid from fermented bacterial cellulose for use in plant-based products, providing a direct replacement for petroleum-based microbeads in many applications.

Strategic Partnerships: Notably, BIOWEG has formed a collaborative partnership with Bayer to develop sustainable formulation materials for seed coatings and encapsulation technologies. This partnership underscores BIOWEG's commitment to advancing sustainable agricultural solutions.

Demonstrations and Market Presence

BIOWEG has successfully demonstrated its technology through pilot-scale production and has secured purchase orders, marking its entry into the market with its sustainable ingredients. The collaboration with Bayer further solidifies its presence in the agricultural sector.

New Patents, Scientific Studies, or Clinical Trials

While specific new patents or scientific studies published since the funding are not detailed, BIOWEG's innovative use of bacterial cellulose to replace microplastics is well-documented. The company's focus on green chemistry and circular production methods aligns with broader sustainability goals in the industry.

Conclusion

Since receiving the EIC Accelerator funding, BIOWEG has made substantial progress in scaling its operations, developing new products, and forming strategic partnerships. These advancements position the company as a leader in sustainable biotechnology, addressing key environmental challenges such as microplastic pollution and promoting a circular economy.

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Citations: - BIOWEG – Biotech Company Producing Sustainable Biobased

• Media - Bioweg
• From Pilot Plant to the First Purchase Order: Our Journey to Make a Difference in 2022
• Start-up BIOWEG - ISC3
• Press Information Document
• Innovations from Quakenbrück against microplastic pollution in the oceans
• Technology – Bioweg
• The European Innovation Council - IMPACT REPORT 2023
• BIOWEG and Bayer Forge Collaborative Partnership

5 The Partnerships and Customers

BIOWEG, a German biotech company specializing in highly functional, customizable bio-based materials, has established significant partnerships and customer relationships since receiving EIC Accelerator funding in October 2021.

Key Partnerships and Customers

1. Partnership with Ginkgo Bioworks (Announced February 2023)
BIOWEG partnered with US-based biotechnology leader Ginkgo Bioworks to collaboratively develop cost-effective and efficient bio-based materials aimed at reducing microplastic pollutants. This partnership focuses on optimizing bacterial cellulose production and creating novel cellulose variants with improved performance for diverse industries including personal care, cosmetics, agriculture (seed and fertilizer coatings), and processed food sectors. The collaboration underscores a shared commitment to replacing synthetic polymers with sustainable alternatives aligned with upcoming EU microplastics regulations.

Nature of the Relationship:

• Joint R&D efforts targeting sustainable polymer substitutes
• Leveraging Ginkgo’s cell programming platform alongside BIOWEG’s expertise in biotechnology, material science, and green chemistry
• Accelerating the shift to biodegradable ingredients that address environmental challenges like microplastic contamination

Impact on BIOWEG:
This strategic alliance elevates BIOWEG's market position as an innovator advancing next-generation bio-polymers while enabling technology advancements through access to Ginkgo’s advanced cell programming capabilities. It also facilitates scaling production processes efficiently.

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2. Partnership with Bayer (Announced November 2023)
BIOWEG became the first startup accepted into Bayer’s LifeHub facility located at Bayer’s Crop Science Division headquarters in Monheim am Rhein, Germany. This collaboration aims to develop sustainable formulation materials for seed coatings and controlled-release plant protection products that are fully bio-based and biodegradable.

Nature of the Relationship:

• Development/testing of new biodegradable agricultural input formulations
• Onsite integration of BIOWEG's R&D team within Bayer LifeHub facilities for enhanced synergy
• Memorandum of Understanding signed outlining concrete collaborative steps

Supported by partners Chemstars and Circular Valley during transition into this innovation ecosystem.

Impact on BIOWEG:
The partnership provides direct access to Bayer's extensive agricultural expertise combined with startup agility from BIOWEG, accelerating product development cycles towards market readiness. It positions BIOWEG strongly within sustainable agriculture markets while fostering knowledge exchange essential for scaling technology applications.

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New Customers & Market Positioning

While specific new customers beyond these partnerships are not explicitly named publicly yet, it is noted that:

• In 2022–2023 period, BIOWEG received its first purchase orders following pilot plant operations ramp-up. This indicates early commercial traction.
• The focus areas include personal care ingredients (micro-powders & rheology modifiers) along with seed/fertilizer coating solutions targeting replacement of non-biodegradable polymers currently used in agriculture.
• Customer-financed research projects dominate their business model alongside public research collaborations involving institutions like the German Institute for Food Technology and Fraunhofer Institute — supporting rapid market introduction of innovations.

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How These Relationships Support Technology Advancement & Scaling

Both major partnerships—one focused on broad biopolymer innovation (with Ginkgo) and one specialized in agricultural applications (with Bayer)—serve complementary roles:

Aspect	Partnership With Ginkgo Bioworks	Partnership With Bayer
Technology Focus	Cell programming platform; bacterial cellulose optimization	Sustainable seed coating formulations; controlled-release agrochemicals
Purpose/Goal	Develop clean alternatives to synthetic polymers	Develop biodegradable seeds/fertilizer coatings
Market Positioning	Leader in eco-friendly biopolymers across multiple markets	Pioneer startup integrated into global crop science hub
Scaling Support	Access cutting-edge biotech tools aiding efficient scale-up	Enhanced product development speed via onsite R&D collaboration
Commercial Impact	Opens broader end-markets: cosmetics/personal care/agriculture	Strengthens agri-biotech segment; leverages industry giant network

These alliances combine innovative biotechnology platforms with established industrial know-how ensuring robust process engineering improvements leading toward full commercial scale manufacturing capacity planned at their Quakenbrück pilot plant by 2024–25.

Furthermore, ongoing improvements via automation/process engineering aim at increasing production efficiency significantly while maintaining quality standards demanded by customers as volume scales up. Public-private collaborative projects also underpin technical validation needed before large-scale commercialization.

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In summary: Since securing EIC Accelerator funding in late 2021, BIOWEG has formed strategic partnerships notably with US biotech leader Ginkgo Bioworks focusing on innovative bio-materials development across multiple sectors including personal care & food industries; concurrently establishing an important relationship with global agrochemical giant Bayer centered around sustainable seed coating technologies within their LifeHub innovation campus framework.

These relationships position BIOWEG competitively as a future-leading supplier of high-performance bio-based polymer ingredients replacing fossil fuel-derived plastics—enabling accelerated technology advancement through shared expertise—and facilitating scale-up operations critical for meeting growing demand driven by regulatory pressures against microplastics pollution.

Sources

• Bioweg-Ginkgo Partnership
• PR Newswire: Bioweg-Ginkgo Announcement
• Bioweg Pilot Plant Successes

-Biowegh-Bayer Collaboration Announcement](https://bioweg.com/bioweg-and-bayer-forge-collaborative-partnership/) -Renewable Carbon News: Partnerships Overview -Recycling Magazine Coverage Nov 2024

6 The Hiring and Company Growth

BIOWEG Team Growth and Hiring

BIOWEG, a biotech company based in Germany, has been expanding its team and operations since receiving the EIC Accelerator funding in October 2021. As of now, BIOWEG employs between 11 and 50 people, indicating a moderate-sized team focused on biotechnology and sustainable development.

Current Team Size and Hiring

BIOWEG is actively hiring, with recent job postings including positions like Research Scientist in Green Chemistry. This role highlights the company's focus on developing sustainable, biodegradable materials using green chemistry principles.

Growth and Expansion

Since its inception in 2019, BIOWEG has experienced significant growth, driven by its innovative approach to replacing petroleum-based chemicals with bio-alternatives. The company's collaboration with major players like Bayer further emphasizes its strategic expansion and commitment to sustainable solutions.

Key Positions

Recent hiring efforts have focused on roles that enhance BIOWEG's R&D capabilities, particularly in green chemistry. These positions are crucial for developing novel, biodegradable materials that can replace non-degradable polymers in various industries.

Impact of New Team Members

New team members play a pivotal role in BIOWEG's mission to scale and grow sustainably. By integrating diverse expertise, particularly in biotechnology and material science, BIOWEG enhances its ability to innovate and customize bio-based products for different sectors, ultimately contributing to a more circular economy.

Management and Founding Team Changes

While there is no specific information on major changes in the founding team or management, BIOWEG's partnership with Bayer and other strategic collaborations suggest a strong alignment with its founding mission of sustainable bioinnovation.

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Citations: - Bioweg – Biotech Company Producing Sustainable Biobased ...

• Start-up BIOWEG - ISC3
• About Us - Bioweg
• BIOWEG company information, funding & investors | Dealroom.co
• BIOWEG - Quakenbrück, Germany - Bionity
• BIOWEG and Bayer Forge Collaborative Partnership
• Research Scientist – Green Chemistry - Bioweg
• Bioweg - Products, Competitors, Financials, Employees
• BIOWEG - Overview, Competitors, News, and Employees

7 The Media Features and Publications

BIOWEG, a German biotech startup and winner of the EIC Accelerator funding in October 2021, has garnered notable media attention, participated in various events, and engaged in interviews that highlight its innovative approach to replacing petroleum-based microplastics with bio-based alternatives.

Media Features and Publications

BIOWEG has been featured in several media outlets recognizing its innovation and sustainability impact:

• The company won the KfW Award Gründen for Niedersachsen, which honors innovative companies across Germany.
• It was highlighted by startup.niedersachsen for offering a solution against microplastic pollution.
• BIOWEG was named one of "10 promising German foodtech startups" disrupting the food industry landscape.
• The LVMH Innovation Award 2023 ranked BIOWEG among the top three sustainability startups due to its bio-based alternatives to microplastics for cosmetics.
• SPRINGWISE covered BIOWEG’s collaboration with Ginkgo Bioworks (backed by Bill Gates) on developing bio-based ingredients replacing microplastics through bacterial fermentation technology.
• ISC3 (International Sustainable Chemistry Collaborative Centre) recognized BIOWEG as Start-up of the Month in February 2024 for pioneering sustainable chemistry using bacterial cellulose derived from waste products that reduce carbon footprint and promote circular economy principles.
• CHEManager detailed an interview with CEO Prateek Mahalwar discussing their sustainable bioprocessing innovations and upcoming commercialization plans including micropowder products for personal care and agriculture markets as well as plans to scale production facilities in Germany.

These publications collectively emphasize BIOWEG’s role in advancing green chemistry solutions that replace synthetic polymers with biodegradable bacterial cellulose.

Podcasts or Interviews

While no direct podcasts featuring BIOWEG were found specifically named, there are prominent biotech podcasts such as "Talking Biotech" hosted by Dr. Kevin Folta which interviews leaders within biotechnology innovation. Given BIOWEG's profile within biotech circles, such platforms are typical venues where companies like them might appear or aspire to participate. Windsor Bux also runs "BioBytes," an interview series spotlighting biotech executives; though no specific episode on BIOWEG was found yet, these represent relevant podcast formats aligned with their sector.

Conferences, Fairs, Presentations & Event Involvement

Although exact details on conference participations or presentations by BIOWEG were not explicitly listed online:

• They have exhibited at trade fairs such as In-Cosmetics Global where they promote innovations related to cosmetic ingredient alternatives — a key market application area for their bio-cellulose microspheres product line.
• As recipients of awards like KfW Gründen Niedersachsen and finalists at LVMH Innovation Awards, it is likely they have attended associated award ceremonies or related networking events tied to these recognitions.
• Being chosen by ISC3 also implies involvement in sustainable chemistry forums connected to this organization’s activities.

No direct mentions were found regarding panel discussions or keynote speeches involving the company publicly available online up till now.

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Summary

Since winning EIC Accelerator funding in late 2021, BIOWEG has achieved significant visibility through multiple media features praising its biodegradable polymer innovations aimed at reducing microplastic pollution. Their CEO has given interviews highlighting strategic growth plans focused on personal care and agri markets while scaling production capabilities. The company participates actively within industry fairs like In-Cosmetics Global showcasing their technology but no widely published records of podcasts or extensive conference speeches specifically involving them could be identified so far. Overall they maintain a growing presence across relevant sustainability-driven biotech platforms emphasizing circular economy impacts.

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Sources

• Bioweg Media
• ISC3 Start-up Bioweg
• CHEManager - Bioweg
• In-Cosmetics Exhibitor Details - Bioweg