1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program, part of the European Innovation Council (EIC), plays a pivotal role in supporting innovative small and medium-sized enterprises (SMEs) and startups across Europe, particularly in the DeepTech sector. This program is designed to facilitate the development of high-risk, high-potential innovations, providing financial support that combines grants and equity investments. The funding aims to bridge the gap between research and market deployment, enabling companies to scale their technologies swiftly.

Funding Structure of the EIC Accelerator

The EIC Accelerator offers a blended finance model that includes both grant funding and equity investment. The grant component can reach up to €2.5 million, aimed at supporting the research and development phases of innovative projects. This grant is primarily intended to cover costs associated with technology validation, prototype development, and other preparatory activities that enable a company to move towards commercialization.

In addition to the grant, the program also provides equity funding. Initially, companies can access up to €15 million in equity until the end of 2024; however, this amount is reduced to a maximum of €10 million from 2025 onwards. The equity investment is designed to support further scaling efforts, helping businesses attract additional private sector funding while minimizing dilution of ownership for founders.

Purpose and Role in the Ecosystem

The EIC Accelerator serves multiple purposes within the European DeepTech and startup ecosystem. It aims to foster innovation, enhance the competitiveness of European companies, and contribute to job creation and economic growth. By providing financial resources, mentoring, and networking opportunities, the program helps startups to overcome challenges associated with scalability and market entry.

The EIC Accelerator also plays a vital role in attracting private investment. By providing initial funding, it enhances the credibility of companies, making them more appealing to venture capitalists and other private investors. This, in turn, can lead to increased investment flows into the European innovation landscape, thereby strengthening the overall startup ecosystem.

LynXes Innovation Kutato és Fejleszto Kft. and Project LynXes

The EIC Accelerator winner LynXes Innovation Kutato és Fejleszto Kft., based in Hungary, secured funding for its project titled LynXes, which aims to democratize a frontier research tool in materials science. The company submitted its Step 2 proposal on June 21, 2023, and subsequently triumphed in the Step 3 interview, showcasing the project’s potential impact and innovation.

Project LynXes: Overview

The LynXes project is focused on advancing materials research through the development of a novel research tool that enhances accessibility for researchers and industry professionals. The project's core objective is to enable a broader range of users, including smaller research institutions and startups, to conduct advanced materials analysis and development without the need for prohibitively expensive equipment.

Technology Basics and Background

The technology underpinning the LynXes project revolves around advanced analytical methods that can be employed in materials research. It aims to leverage cutting-edge techniques in spectroscopy, imaging, and data analytics to provide insights into material properties and behaviors at the nanoscale. By democratizing access to these sophisticated tools, LynXes seeks to empower a wider audience to engage in materials innovation and accelerate the pace of discovery in various fields, including electronics, pharmaceuticals, and renewable energy.

This initiative not only enhances the capabilities of researchers but also fosters collaboration between academia and industry. By making advanced tools more accessible, LynXes stands to stimulate innovation across sectors that rely heavily on material science, ultimately contributing to the development of new products and solutions that address global challenges.

Conclusion

The EIC Accelerator program plays a crucial role in nurturing innovative startups like LynXes Innovation Kutato és Fejleszto Kft. through its blended finance model, which combines grants and equity funding. By supporting projects that advance technology and democratize access to critical research tools, the EIC Accelerator is instrumental in shaping the future of the European DeepTech landscape, propelling companies toward successful market entry and expansion.

2 The Funding Rounds

Financing Raised

Since winning the EIC Accelerator funding, LynXes Innovation Kutato és Fejleszto Kft. (LynXes Innovation Ltd.), based in Hungary, has publicly disclosed raising €1.5 million through a prestigious grant from the European Innovation Council (EIC) Accelerator program. This is currently the only publicly reported financing round for the company since their success in June 2023.

Funding Rounds

• Type of Round: Grant
• Date Closed: June 2023
• Amount Raised: €1.5 million
• Source of Funds: European Innovation Council (EIC) Accelerator.

There are no public records of additional equity or venture capital rounds involving private investors or institutional funds since receiving the EIC grant.

Timing and Amount of Funding Rounds

Date	Round Type	Amount	Investor/Source
Jun 2023	Grant	€1,500,000	European Innovation Council (EIC)

This was announced after a rigorous selection process with a low acceptance rate (~6%), emphasizing both timing and competitiveness.

Investor Information

• The sole disclosed investor to date is the European Innovation Council via its Accelerator program.
• No evidence has surfaced regarding participation by venture capital firms, angel investors, or corporate funds up to May 2025.

The company’s close collaboration with HUN-REN Wigner Research Centre for Physics and founding by researchers Zoltán Németh and György Vankó underscores its research-driven approach but does not imply an equity stake by these institutions beyond co-development partnerships.

Company Valuations

No public valuation figures for LynXes Innovation Ltd. have been released following their EIC funding round. This is typical for companies at this early stage relying on substantial non-dilutive grants rather than market-priced equity investments.

Exit Events: IPOs, Buyouts & Acquisitions

There are no reports or announcements suggesting that LynXes Innovation Ltd. has undergone any exit events such as initial public offerings (IPOs), buyouts, or acquisitions since it received EIC Accelerator funding in June 2023.

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Summary Table

Event	Date	Details
Grant Awarded	Jun 2023	€1.5M from European Innovation Council
Other Fundraising/VC Activity	N/A	No further rounds disclosed
Valuation	N/A	Not publicly available
Exit Events	N/A	None reported

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Sources

• LynXes company information – Scaleup Porto
• LynXes company information – Israel Dealroom
• LynXes company information – Panoramica PR
• LynXes receives EIC accelerator grant – Official announcement
• Hungarian innovation secures one of Europe's most prestigious grants – HUN REN Wigner RCPS

3 The Press Releases

LynXes Innovation Kutató és Fejlesztő Kft: Recent Developments and Milestones

LynXes Innovation Kutató és Fejlesztő Kft, based in Hungary, has been making strides in the field of materials research since receiving EIC Accelerator funding in June 2023. Here are some recent developments and milestones:

Technology Advancements

• Desktop-Sized Material Analyzers: LynXes has developed laboratory-scale materials analyzer devices that provide detailed results comparable to large-scale facilities at a fraction of the cost. These devices are small, portable, and affordable, making high-energy-resolution X-ray spectroscopies (HERXS) more accessible to researchers and industries.
• Spectrometer Types: LynXes offers four spectrometer types, each providing unique insights such as quick information on valence state and local symmetry, XANES, EXAFS, and XES measurements. These tools are versatile, supporting various sample environments like solid, liquid, and flow-through.

Partnerships and Collaborations

• EIC Accelerator Funding: LynXes received funding under the EIC Accelerator program, which supports innovative startups in Europe. This funding is part of the blended finance option, combining grants and equity investments.
• Academic and Industrial Network: LynXes collaborates with both academia and industry, establishing a broad network that supports its mission to democratize access to advanced materials research tools.

Team Updates and Patents

• Founding and Team: LynXes was founded in 2021 by experts in X-ray spectroscopy. The company focuses on innovative research and development with a dedicated team.
• Patents and Intellectual Property: Although specific patent details are not available in the recent updates, LynXes' focus on pioneering materials analysis technology suggests ongoing efforts in intellectual property development.

Press Releases and Blog Posts

• Recent Installations: LynXes recently marked the installation of its first LYNX U device at the University of Camerino, signaling a new era in lab-based X-ray spectroscopy. This installation underscores the company's progress in deploying its technology in academic settings.
• Website Updates: LynXes regularly updates its website with news, events, and publications related to its advancements in X-ray spectroscopy and materials research tools.

Sources

• News & Media - LynXes
• Democratizing a Frontier Research Tool
• LynXes Innovation Kft.
• LynXes Innovation Kutató és Fejlesztő Kft
• EIC Accelerator winners and statistics June 2023

4 The Technology Advancements

LynXes Innovation Kutatό és Fejlesztő Kft.: Post-EIC Accelerator Funding Advancements LynXes Innovation, a Hungarian deep-tech startup specializing in X-ray spectroscopy technology, secured EIC Accelerator funding in June 2023 as part of a competitive cohort. While detailed public updates on post-funding technical milestones remain limited, available information highlights their core focus and collaborative ecosystem.

The company’s flagship innovation centers on compact laboratory-scale X-ray spectroscopy systems designed to democratize high-energy-resolution material analysis. Their technology—developed in collaboration with researchers from the HUN-REN Wigner Research Centre for Physics—enables precise elemental and electronic structure characterization previously achievable only at large-scale international facilities like synchrotrons[^8^].

Since receiving the grant, LynXes has emphasized scaling production and refining its proprietary measurement solutions. The device targets applications in energy storage, sustainable chemistry, biotechnology, and advanced materials research[^8^]. While no new patents or peer-reviewed studies have been explicitly disclosed post-funding, their ongoing partnership with Wigner RCP suggests continued R&D integration to optimize performance metrics such as energy resolution and user accessibility.

Market engagement efforts appear developmental rather than commercial at this stage. The company has not yet announced public customer deployments or pilot programs but is actively pursuing industrial partnerships to validate its technology across academic and corporate sectors[^6^][^8^]. The EIC Accelerator’s blended financing model (combining grants with equity) likely supports these commercialization efforts by extending operational runways.

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Sources

• LynXes Innovation LTD. is the beneficiary of the EIC accelerator grant
• A Hungarian innovation secures one of Europe's most prestigious grants backed by HUN-REN Wigner RCPS

5 The Partnerships and Customers

LynXes Innovation Kutató és Fejlesztő Kft.

LynXes Innovation Kutató és Fejlesztő Kft., a Hungarian company founded in 2021, has been gaining momentum in the field of high-energy-resolution X-ray spectroscopy (HERXS). Following its success as an EIC Accelerator winner in June 2023, LynXes has continued to develop innovative table-top spectrometers that provide results comparable to large-scale facilities but at a significantly lower cost. This breakthrough technology has positioned LynXes as a leader in democratizing access to HERXS, benefiting various sectors such as green chemistry, green energy, pharmaceuticals, waste management, and data storage.

Partnerships and Customers

While specific names of partners or customers are not detailed in the available information, LynXes collaborates with industrial and academic partners worldwide. These collaborations are crucial for exploiting R&D opportunities and establishing a broad network in both academia and industry.

New Partners and Customers

There is no explicit mention of new partners or customers in the provided data. However, LynXes' involvement in the EIC Accelerator program indicates potential growth in partnerships and customer base as it scales its operations and expands its market reach.

Nature of New Relationships

The nature of new relationships for LynXes likely involves further academic-industrial collaborations, focusing on enhancing R&D capabilities in materials science and related fields. These partnerships aim to leverage LynXes' innovative technology to improve product development and quality control across various sectors.

Market Positioning

The establishment of new relationships will strengthen LynXes' position in the market as a pioneering provider of accessible HERXS technology. By bridging the gap between laboratory-scale and large-scale facilities, LynXes enhances its competitiveness and technological sovereignty in Europe, particularly in the fields of green energy and advanced materials.

Technology Advancements and Scaling

New relationships are expected to aid LynXes in advancing its technology through collaborative research and development. This will help refine its spectrometers, ensuring they remain at the forefront of material analysis tools. As LynXes scales its operations, these partnerships will be crucial for expanding its customer base and reinforcing its role as a leader in HERXS technology.

Sources

• LynXes: Welcome
• LynXes Innovation Kutato és Fejleszto Kft. - European Innovation
• LynXes Innovation Kutató és Fejlesztő Korlátolt Felelősségű Társaság
• About Us - LynXes
• democratizing a frontier research tool | HORIZON | CORDIS
• LynXes Innovation Kft. rövid céginformáció
• Horizont Európa Accelerator rásegítő pályázat

6 The Hiring and Company Growth

LynXes Innovation Kutato és Fejleszto Kft.

LynXes Innovation, based in Hungary, is a recipient of the EIC Accelerator funding, having submitted its Step 2 proposal and later won in the Step 3 interview on June 21, 2023. However, specific details about team growth, current headcount, hiring status, and recent key positions are not readily available from the provided sources. The company's participation in events such as the RInnoValleys Task Force Team Kick-Off Meeting indicates its engagement with innovation and development initiatives, but detailed information about its organizational structure or recent hiring activities is limited.

Current Status and Funding Implications

The EIC Accelerator funding is a significant boost for innovative companies like LynXes Innovation, enabling them to advance their projects and expand their capabilities. This type of funding typically supports scaling and growth by providing resources for research, development, and commercialization. For LynXes Innovation, this could mean enhanced research capacity, expanded team capabilities, and increased market presence, though specific details on how the funding is being utilized are not available.

Future Prospects

The involvement of LynXes Innovation in various innovation-focused activities suggests that the company is poised for growth and is actively engaging with the broader innovation ecosystem. The EIC Accelerator funding will likely play a crucial role in this growth, enabling the company to develop new technologies and potentially expand its team to support these endeavors. However, without specific information on hiring or team expansion plans, the exact nature of this growth remains speculative.

Management and Founding Team

There is no available information on major changes in management or the founding team of LynXes Innovation following the EIC Accelerator funding. Typically, such funding can lead to organizational adjustments as companies scale and expand their operations, but specific details about LynXes are not available.

Sources

• LynX at the RInnoValleys Task Force Team Kick-Off Meeting
• Unmanned Maritime Systems Technology USA
• 8 Steps for Hiring the Best Employees
• 10 Employee Engagement Statistics You Need to Know in 2024
• The Complete Guide to Job Level Classification: Examples, Criteria
• What's the Ideal Team Size? It Depends on the Manager

7 The Media Features and Publications

LynXes Innovation Kutato és Fejleszto Kft.: Media Features and Activities

LynXes Innovation Kutato és Fejleszto Kft., a Hungarian startup, has been gaining recognition for its innovative work in high-energy-resolution X-ray spectroscopies (HERXS). Since winning the EIC Accelerator funding in June 2023, the company has been actively involved in various media features, publications, and events.

Media Features and Publications

• Publications: The company's achievements have been highlighted in several publications, including news outlets and scientific reports. Their innovative work in democratizing HERXS technology for lab-scale use has been noted as a significant breakthrough in materials research, making such advanced analytical tools more accessible to researchers and industries.
• Content: The publications focus on how LynXes' devices provide detailed electronic and structural information about materials, previously only available through large-scale facilities like synchrotrons. This technology is particularly beneficial for sectors such as green chemistry, energy storage, and pharmaceuticals.

Podcasts and Interviews

While there is limited specific information available about podcasts or interviews with the team of LynXes Innovation Kutato és Fejleszto Kft., their participation in discussions related to innovation and scientific research is likely given their recent achievements. Key figures like Zoltán Németh have shared insights into the challenges of securing funding and the significance of their project in broader contexts.

Conference and Fair Visits, Presentations

• EIC Accelerator Participation: LynXes successfully navigated the EIC Accelerator program, culminating in a win after a multi-round competition. This achievement highlights the company's ability to present compelling scientific and business cases.
• Collaborations and Events: LynXes continues to collaborate closely with the Wigner Research Centre for Physics (HUN-REN Wigner FK), demonstrating a strong commitment to advancing scientific research and technology transfer.

Involvement in Events

The company's participation in significant European innovation events, such as the EIC Accelerator program, underscores its commitment to advancing technology and engaging with the broader scientific community. These events provide platforms for showcasing their innovative solutions and fostering partnerships within academia and industry.

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Sources: - News & Media - LynXes

• LynXes: Welcome
• Democratizing a frontier research tool | HORIZON | CORDIS
• Magyar fejlesztésen alapuló innováció nyerte el az egyik legrangosabb európai pályázatot
• Magyar fejlesztésen alapuló innováció nyerte el az egyik legrangosabb európai pályázatot
• LynXes Innovation Kft.