1 The EIC Accelerator Project
EIC Accelerator Program Overview
The European Innovation Council (EIC) Accelerator is a key funding instrument designed to support innovative startups and small to medium enterprises (SMEs) within the European Union. It focuses on breakthrough technologies and disruptive innovations that have the potential to create new markets or significantly impact existing ones. The program is part of the Horizon Europe framework, which aims to enhance Europe’s innovation capacity.
Grant and Equity Details
The EIC Accelerator provides two main types of funding:
- Up to €15 million is available in equity until 2024.
- Starting in 2025, the equity ceiling will be adjusted to €10 million.
The equity funding is designed to help companies scale their operations and attract additional private investment. This support is crucial for companies that have reached the commercialization phase and require significant capital for market expansion.
Purpose of the EIC Accelerator in the European DeepTech and Startup Ecosystem
The EIC Accelerator plays a pivotal role in fostering the growth of DeepTech startups across Europe. By targeting high-risk, high-potential companies, the program aims to:
- Stimulate Innovation: Encourage the development of groundbreaking technologies that can transform industries and improve societal outcomes.
- Enhance Competitiveness: Strengthen the EU’s position in the global market by supporting companies that can compete on an international scale.
- Foster Economic Growth: Drive economic growth by creating jobs and increasing productivity through technological advancements.
Role in Helping Companies Scale and Secure Private Funding
The EIC Accelerator not only offers financial support but also provides strategic assistance to help companies grow. This includes:
- Access to Expertise: Beneficiaries receive coaching and mentoring from industry experts to refine their business models and strategies.
- Networking Opportunities: The program facilitates connections with investors, partners, and potential customers, enhancing business development efforts.
- Market Validation: EIC support acts as a quality stamp, increasing credibility and attractiveness to private investors.
RISE TECHNOLOGY SRL and the iSPLASH Project
Company Overview
RISE TECHNOLOGY SRL, based in Italy, is an innovative company that has successfully secured funding through the EIC Accelerator program. The company focuses on developing cutting-edge technologies that address key industrial challenges.
iSPLASH Project Details
The iSPLASH project, which stands for Industrial Selective PLAting for Solar Heterojunction, represents a significant breakthrough in solar technology. The project aims to enhance the efficiency and cost-effectiveness of solar cells through advanced plating techniques.
- Objective: To develop a selective plating process that improves the performance and durability of solar heterojunction cells.
- Impact: By increasing the efficiency of solar cells, iSPLASH contributes to the broader adoption of renewable energy sources, supporting global sustainability goals.
Technology Basics and Background
The iSPLASH project involves the innovative use of selective plating technology in the production of solar heterojunction cells. This technology focuses on:
- Improved Efficiency: By optimizing the plating process, the project aims to reduce energy loss and enhance the overall efficiency of the solar cells.
- Cost Reduction: The selective plating technique minimizes material usage, thereby reducing production costs and making solar energy more accessible.
- Durability: Enhanced plating methods increase the lifespan of solar cells, ensuring long-term performance and reliability.
The iSPLASH project is a testament to RISE TECHNOLOGY SRL's commitment to advancing solar technology and contributing to the clean energy transition. Through the support of the EIC Accelerator, the company is well-positioned to make a significant impact in the energy sector.
2 The Funding Rounds
Since receiving EIC Accelerator funding on March 23, 2022, RISE Technology SRL has secured additional financing to support its growth and development.Funding Rounds:
Timing and Amount of Funding Rounds:
Investor Information:
- Tech4Planet: Led the seed funding round.
- Progress Tech Transfer: Participated in the seed funding round. (risetechnology.com)
Additional Information Related to Funding Rounds:
The €1.5 million raised is intended to support the industrial development of RISE Technology's iSPLASH project. (risetechnology.com)
Company Valuations for Funding or Exit Events:
Specific valuation figures for RISE Technology SRL during this funding round have not been publicly disclosed.
In summary, since the EIC Accelerator funding in March 2022, RISE Technology SRL has raised an additional €1.5 million in November 2023 to advance its iSPLASH project, with investments from Tech4Planet and Progress Tech Transfer.
3 The Press Releases
Since receiving EIC Accelerator funding on March 23, 2022, RISE TECHNOLOGY SRL has published several press releases detailing their advancements and activities:1. November 29, 2023: €1.5 Million Investment for iSPLASH Development
RISE TECHNOLOGY SRL announced securing €1.5 million in funding from Tech4Planet and Progress Tech Transfer. This investment aims to support the industrial development of their iSPLASH project, which focuses on Industrial Selective Plating for Solar Heterojunction. (risetechnology.com)
2. May 8, 2023: Sponsorship of the 11th Metallization & Interconnection Workshop
The company served as an official sponsor for the 11th edition of the Metallization & Interconnection Workshop held in Neuchâtel and online. This sponsorship underscores RISE TECHNOLOGY SRL's commitment to advancing photovoltaic technologies. (risetechnology.com)
3. November 3, 2022: Sponsorship of the 5th International Workshop on Silicon Heterojunction Solar Cells
RISE TECHNOLOGY SRL was an official sponsor of the 5th International Workshop on Silicon Heterojunction Solar Cells in Aix-les-Bains and online. This involvement highlights their dedication to the development of silicon heterojunction technologies. (risetechnology.com)
Additional Information:
- Patents: The company holds nine patents (six granted and three pending) across Europe, the United States, China, Japan, and Taiwan, reflecting their commitment to innovation. (risetechnology.com)
- Team Updates: As of February 2023, Marco Balucani, a co-founder and former Associate Professor at the Sapienza University of Rome, transitioned to focus entirely on RISE TECHNOLOGY SRL, serving as CEO and Board member. (risetechnology.com)
- Partnerships: The company has established a new R&D facility at the ENEL Innovation Hub in Catania (PassoMartino) since January 2020, indicating a strategic partnership with ENEL for research and development. (risetechnology.com)
These press releases and updates are available on RISE TECHNOLOGY SRL's official website. No additional press releases were found on their social media accounts or the 2bg.it website.
4 The Technology Advancements
Since receiving EIC Accelerator funding on March 23, 2022, RISE Technology SRL has made significant strides in advancing their iSPLASH project.Technology Advancements:
In November 2023, RISE Technology secured €1.5 million in seed funding from Tech4Planet and Progress Tech Transfer. This investment is aimed at supporting the industrial development of iSPLASH, an innovative technology for the selective copper metallization of heterojunction solar cells, replacing traditional silver pastes. The iSPLASH technology promises to reduce production costs by at least 30% and decrease the carbon footprint by 90%, while enhancing efficiency compared to existing methods. (cdpventurecapital.it)
Scaling and Development Phase:
The recent funding is intended for the development, testing, and validation of the iSPLASH technology, as well as the industrial-scale implementation of the first systems for copper deposition on solar cells. This indicates that RISE Technology is transitioning from the development phase towards scaling their technology for industrial application. (cdpventurecapital.it)
Market Demonstration:
In November 2022, RISE Technology presented the iSPLASH project at the StartupItalia Open Summit 2022 Sicily Edition (SIOS22), organized in collaboration with Enel S.p.A. The event focused on innovation, technology, renewable energy, sustainability, and environmental transition, providing a platform for RISE Technology to showcase their advancements to industry stakeholders. (risetechnology.com)
Patents and Publications:
As of the latest available information, RISE Technology holds nine patents (six granted and three pending) covering Europe, the United States, China, Japan, and Taiwan. The company continues to invest in research and development, focusing on solutions and applications protected by their own patents. (risetechnology.com) However, specific details regarding new patents, scientific studies, clinical trials, or whitepapers published since March 2022 are not readily available in the provided sources.
In summary, RISE Technology SRL has been actively advancing the iSPLASH project since receiving EIC Accelerator funding, moving towards industrial-scale implementation and engaging with industry stakeholders to demonstrate their technology.
5 The Partnerships and Customers
Since receiving EIC Accelerator funding on March 23, 2022, RISE TECHNOLOGY SRL has established several significant partnerships and collaborations:1. Collaboration with Alien Technology Transfer
- Nature of Relationship and Purpose: Alien Technology Transfer, a consultancy specializing in securing public funding for innovative projects, collaborated with RISE TECHNOLOGY SRL, the sole Italian winner of the EIC Accelerator March 2022 cut-off. This partnership aimed to support the development and commercialization of the iSPLASH project. (risetechnology.com)
- Market Positioning: This collaboration enhanced RISE TECHNOLOGY SRL's visibility and credibility within the European innovation ecosystem, positioning the company as a leader in advanced photovoltaic technologies.
- Technology Advancement and Scaling: The partnership facilitated access to funding and strategic guidance, accelerating the development and potential market entry of the iSPLASH technology.
2. Participation in StartupItalia Open Summit 2022 Sicily Edition (SIOS22)
- Nature of Relationship and Purpose: On November 30, 2022, RISE TECHNOLOGY SRL presented the iSPLASH project at SIOS22, organized by StartupItalia in collaboration with Enel S.p.A. The event focused on innovation, technology, renewable energy, sustainability, and environmental transition. (risetechnology.com)
- Market Positioning: Participation in this summit provided RISE TECHNOLOGY SRL with a platform to showcase its innovations to industry leaders and potential partners, strengthening its market presence in the renewable energy sector.
- Technology Advancement and Scaling: Engaging with key stakeholders at the summit opened opportunities for collaborations and investments, supporting the scaling and commercialization of the iSPLASH technology.
3. Establishment of R&D Laboratory at ENEL Innovation Hub in Catania
- Nature of Relationship and Purpose: Since January 2020, RISE TECHNOLOGY SRL has operated an R&D facility within the ENEL Innovation Hub in Catania. This facility is dedicated to developing systems for the implantable device prototype as part of the iSPLASH project. (risetechnology.com)
- Market Positioning: The collaboration with ENEL, a major player in the energy sector, enhances RISE TECHNOLOGY SRL's credibility and positions it as an innovator in photovoltaic technology.
- Technology Advancement and Scaling: The R&D facility provides access to state-of-the-art resources and expertise, accelerating the development and potential scaling of the iSPLASH technology.
These strategic partnerships and initiatives have significantly bolstered RISE TECHNOLOGY SRL's position in the market, facilitating technological advancements and paving the way for scaling its innovative solutions in the renewable energy sector.
6 The Hiring and Company Growth
Since receiving EIC Accelerator funding on March 23, 2022, RISE TECHNOLOGY SRL has demonstrated notable growth and development.Current Headcount and Team Size: As of December 31, 2021, RISE TECHNOLOGY SRL reported a turnover of €1 million, a 5.35% decrease from the previous year. (italy.globaldatabase.com) While specific current headcount figures are not publicly available, the company has been actively expanding its team.
Current Hiring Status: RISE TECHNOLOGY SRL is actively recruiting for several positions, including:
- Marketing Manager: Responsible for developing and executing marketing campaigns, managing budgets, and analyzing market data. (risetechnology.com)
- Industrial Automation Electrical Engineer: Tasked with designing and implementing industrial automation electrical systems, drawing electrical diagrams, and programming PLCs. (risetechnology.com)
Growth and Key Positions Hired: The company has been expanding its team to support its growth initiatives. Notably, in February 2023, co-founder Marco Balucani transitioned from his role as an Associate Professor at Sapienza University of Rome to focus entirely on his position as CEO of RISE TECHNOLOGY SRL. (risetechnology.com)
Impact of New Team Members: The addition of experienced professionals like CEO Marco Balucani is expected to drive innovation and enhance the company's capabilities in the photovoltaic and semiconductor industries. This strategic hiring aligns with RISE TECHNOLOGY SRL's commitment to sustainable development and Industry 4.0, positioning the company for future growth and scalability.
Changes in Management or Founding Team: A significant change in the management team includes Marco Balucani's full-time commitment as CEO since February 2023. Other key management figures include CFO Roberto Pagliucci and COO Dario Bernardi, both of whom bring extensive experience to their roles. (risetechnology.com)
In summary, RISE TECHNOLOGY SRL has been actively expanding its team and leadership to support its growth and innovation objectives following the EIC Accelerator funding.
7 The Media Features and Publications
Since receiving EIC Accelerator funding on March 23, 2022, RISE TECHNOLOGY SRL has been involved in several notable activities:Media Features:
Conference and Fair Participation:
- Official Sponsorships:
- In May 2023, RISE TECHNOLOGY SRL served as an official sponsor for the 11th edition of the Metallization & Interconnection Workshop held in Neuchâtel and online. (risetechnology.com)
- In November 2022, the company sponsored the 5th International Workshop on Silicon Heterojunction Solar Cells in Aix-les-Bains and online. (risetechnology.com)
- Tech Transfer Day, Milan: RISE TECHNOLOGY SRL participated in the Tech Transfer Day in Milan, focusing on the potential of scientific research and technology transfer in environmental sustainability sectors such as energy transition, sustainable manufacturing, circular economy, mobility, and water resource management. (risetechnology.com)
Event Involvement:
No specific information is available regarding publications naming RISE TECHNOLOGY SRL, content from such publications, podcasts or interviews featuring the company's team, or additional events beyond those mentioned above since March 23, 2022.