1 The EIC Accelerator Project
EIC Accelerator Program: An Overview
The EIC Accelerator program is a key initiative under the European Innovation Council (EIC) aimed at supporting small and medium-sized enterprises (SMEs) and startups in Europe, particularly those developing deep-tech innovations. Designed to foster high-risk, high-reward projects, the EIC Accelerator provides financial support and strategic guidance to enable these companies to scale effectively in competitive global markets.
Funding Structure
The EIC Accelerator offers a unique funding structure known as "Blended Finance," combining grants and equity investments. The grant component can reach up to €2.5 million, aimed at covering specific project costs, including research and development, prototyping, and market introduction.
In addition to grants, the program also provides equity financing to facilitate further growth. Until 2024, the equity investment can amount to €15 million, which is structured to attract additional private sector funding. Starting in 2025, the equity investment will be capped at €10 million. This dual approach ensures that companies receive both immediate financial support and long-term investment, making it easier to attract further investment from private sources.
Purpose and Impact in the Ecosystem
The EIC Accelerator serves a critical role in the European startup ecosystem, particularly within the deep-tech sector. By providing financial resources and support, it helps companies transition from innovative ideas to market-ready products. This program is particularly beneficial for high-tech startups and SMEs that often struggle to secure funding due to the inherent risks associated with their innovations.
The program not only alleviates financial constraints but also connects companies with a network of investors and mentors. This support enables them to scale operations, refine their technologies, and ultimately enhance their competitiveness in the global market.
PICADVANCED and the PIC-FAST Project
Company Overview
PICADVANCED, SA, based in Portugal, is an innovative company focusing on the development of photonic integrated circuits (PICs). The company has established itself as a leader in the field of photonics, providing advanced solutions for telecommunications and data communications.
Project Acronym: PIC-FAST
The EIC Accelerator project titled PIC-FAST stands for "Photonic Integrated Circuits For Access System in Telecom." Launched with funding from the EIC Accelerator, this project aims to revolutionize access networks in telecommunications through the deployment of cutting-edge photonic technologies.
Technology Background
Photonic Integrated Circuits combine multiple photonic functions onto a single chip, allowing for enhanced performance in data transmission and processing. The technology leverages light to transmit data at unprecedented speeds and efficiencies, making it particularly suited for high-demand applications in telecommunications.
PIC-FAST aims to develop advanced PICs that can significantly improve bandwidth and reduce latency in access systems. As the demand for data continues to surge, traditional electronic systems face limitations in terms of speed and energy efficiency. By integrating photonic technologies, PICADVANCED is poised to address these challenges, enabling faster and more reliable internet access.
The project will focus on optimizing the design, fabrication, and testing of these circuits to ensure they meet industry standards. The goal is to create a commercially viable product that can be implemented in next-generation telecommunications networks, thus offering a competitive edge to service providers.
Conclusion
The EIC Accelerator program plays a vital role in fostering innovation within the European startup ecosystem, particularly for deep-tech companies like PICADVANCED. Through its blended finance model, it provides essential financial support, enabling companies to scale effectively while attracting private investment. The PIC-FAST project exemplifies this mission by leveraging cutting-edge photonic technologies to enhance telecommunications infrastructure, setting the stage for a new era in data communication. For more information, PICADVANCED can be explored further at their official website: picadvanced.com.
2 The Funding Rounds
# PICadvanced: Funding Journey and Growth Since EIC Accelerator SuccessPICadvanced, SA (PICa) is a Portuguese technology company specializing in photonic integrated circuits and optoelectronic components for telecommunication applications. Founded in 2014 as an IT spin-off by António Teixeira, Francisco Rodrigues, and Ana Tavares, the company has established itself as an innovative player in the telecommunications industry, focusing on developing next-generation optical network technologies.
EIC Accelerator Funding
In June 2023, PICadvanced was selected as one of the winners in the European Innovation Council (EIC) Accelerator program. The company was awarded funding for its project PIC-FAST (Photonic Integrated Circuits For Access System in Telecom) in the area of photonics/telecommunications.
PICadvanced was one of 47 European startups selected in this highly competitive call, which saw a total of 648 applications with only 140 companies reaching the interview stage. The June 2023 EIC Accelerator call distributed a total of €349 million in funding across the selected companies.
Funding Details
According to available information, PICadvanced secured a substantial €17.4 million through the EIC Accelerator program to complete development and bring to market a new generation of optoelectronic components for fiber-to-the-home networks. This technology promises bandwidth and quality of service not possible with current technology, along with reduced energy consumption and raw materials usage.
The funding package included: - A grant component of €2.4 million
Previous Funding Rounds
Before its EIC Accelerator success, PICadvanced had already secured significant investment:
Series A (August 2020)
- Amount: €4 million
- Lead Investor: Verizon Ventures
- Supporting Investor: 200M Co-investment Fund managed by PME Investimentos
This Series A funding was aimed at developing optoelectronic transceivers for NG-PON2 (Next-Generation Passive Optical Network 2), a new telecommunications network standard. At the time of this funding, the NG-PON2 market was forecast to grow from approximately $250 million in 2019 to over $2 billion by 2024.
Total Funding
Based on the available information, PICadvanced has secured a total of approximately €21.4 million in funding since its founding in 2014, combining:
- €4 million from Series A (2020)
- €17.4 million from EIC Accelerator (2023)
The Helsinki Dealroom database indicates a total funding amount of €6.4 million, but this appears to be outdated as it doesn't fully account for the EIC Accelerator funding.
Investor Information
PICadvanced has attracted strategic investors with specific interest in telecommunications technology:
Market Position and Growth
PICadvanced has positioned itself in the growing market of photonic integrated circuits for telecommunications. The company defined photonic integrated circuits as the key for innovation and challenge for the telecommunication industry, with a current focus on developing NG-PON2 technologies based on both discrete and integrated optics.
The company's technology aims to address major industry challenges, including:
- Increasing bandwidth requirements for fiber-to-the-home networks
- Need for improved quality of service
- Reducing energy consumption and raw material usage in telecommunications infrastructure
Future Outlook
With the substantial funding from the EIC Accelerator, PICadvanced is well-positioned to complete the development of its technology and bring it to market. The company is part of Portugal's growing success in securing European innovation funding, with Portugal being the second country with the most funding approved in the Horizonte Europe's European Innovation Council program.
As PICadvanced moves forward with its EIC Accelerator funding, it will likely focus on scaling its operations and expanding its market presence, in line with the typical progression of companies at the Series A and growth stages.
Sources: - EIC Accelerator winners and statistics June 2023: 47 European deeptech startups awarded 349€ million
- PICadvanced company information, funding & investors | Helsinki
- Horizonte Europa/EIC Accelerator – 3 novas PME nacionais selecionadas para financiamento
- PICadvanced secures 17.4 million to develop optoelectronic components for fiber-to-the-home networks
- Portugal's PICadvanced raises €4 million from Verizon for telecom optics solutions
- Funding Rounds Explained: Series A, B, C and Seed
3 The Press Releases
Overview of PICADVANCED, SA
PICADVANCED, SA is a Portuguese company that specializes in the development and packaging of optical components based on integrated circuits. Founded as a spin-off of the Instituto de Telecomunicações (IT), PICADVANCED has been at the forefront of solving complex problems in the telecommunications industry through the development of photonic integrated circuits (PICs).
EIC Accelerator Funding
In June 2023, PICADVANCED, SA received significant funding from the European Innovation Council (EIC) Accelerator program. This funding was part of the EIC's efforts to support high-risk, high-impact innovations in Europe. The EIC Accelerator awarded a total of €349 million to 47 European startups during this round, with PICADVANCED being one of the recipients.
Technology Advancements
PICADVANCED is focused on the development of next-generation optoelectronic components for fiber-to-the-home networks. These advancements aim to provide higher bandwidth and quality of service while reducing energy consumption and raw material usage. The company is particularly focused on NG-PON2 technologies based on both discrete and integrated optics, leveraging PICs as key innovations for the telecommunications sector.
Partnerships and Team Updates
While specific partnerships or team updates related to PICADVANCED, SA since receiving the EIC funding are not detailed in the available information, the company's success is a testament to its strong research and development capabilities. As an IT spin-off, PICADVANCED benefits from its origins in a renowned research institution, which likely enhances its collaborations and partnerships in the technology sector.
Press Releases and Website Updates
Press releases or updates on PICADVANCED's website specifically related to the EIC funding are not readily available. However, news outlets have covered the company's achievement, highlighting its role in the EIC Accelerator program and its contributions to European innovation.
Patents
Information on specific patents related to PICADVANCED's recent developments is not provided in the available data. However, the company's work on photonic integrated circuits suggests an ongoing commitment to innovation and intellectual property development in the optoelectronics field.
Sources: - EIC Accelerator winners and statistics June 2023
4 The Technology Advancements
PICadvanced's Post-Funding Advancements and Current Capabilities Since receiving €17.4 million in EIC Accelerator funding (announced November 2023, proposal submitted June 2023), PICadvanced has focused on advancing its photonic integrated circuit (PIC) solutions for next-generation optical networks. Below is a structured breakdown of their progress:Core Capabilities
- Photonic Integration Expertise: Develops NG-PON2-standard transceivers using proprietary PIC designs, combining optics, electronics, and packaging into compact modules.
- Full-Stack Innovation: Specializes in wafer-scale design, simulation, and testing of optical components for telecom access networks.
- Energy Efficiency Focus: Targets reduced power consumption and material usage compared to traditional discrete optics.
Post-Funding Technological Advancements
- PIC-FAST Project Launch: Secured €3.49 million under the EIC Pathfinder program (March 2024–February 2026) to develop a 10Gbps PIC-based transceiver platform compatible with existing fiber infrastructure. The solution integrates optical network units/terminals into a single device, enabling future scalability to 25Gbps/50Gbps standards.
- NG-PON2 Optimization: Enhanced multi-wavelength transceiver designs for improved bandwidth allocation and alignment precision using hybrid integration techniques.
Market Engagement & Demonstrations
While explicit customer pilots remain undisclosed in public records:- Industry Participation: Showcased solutions at OFC 2025 as an exhibitor, indicating active market outreach efforts.
- Telecom Alignment: Targets Verizon-like deployments through partnerships with component manufacturers (e.g., HFA’s fiber-optic production for U.S. markets), though direct collaboration remains unconfirmed.
Intellectual Property & Publications
No recent patents or whitepapers are explicitly cited in available materials. However:Strategic Outlook
PICadvanced aims to solidify Portugal’s role in semiconductor innovation via the Microelectronics Agenda (aligned with EU Chips Act), emphasizing R&D collaborations and workforce development alongside its core telecom focus.Sources
5 The Partnerships and Customers
PICadvanced's Strategic Partnerships and Market Positioning Post-EIC Accelerator FundingPICadvanced, SA, a Portuguese photonic integrated circuit (PIC) innovator founded in 2014, has solidified its role as a disruptor in optical network technologies through strategic partnerships and recent funding. The company secured €17.4 million from the European Innovation Council (EIC) Accelerator in 2023 to commercialize energy-efficient optoelectronic components for next-generation fiber-to-the-home networks. Below is an analysis of its key relationships and market trajectory:
Key Partnerships and Customers
- Verizon Ventures: A cornerstone investor since 2020, Verizon’s involvement accelerated PICadvanced’s commercialization of NG-PON2 transceivers. The partnership enabled scaling production to meet demand from large operators like Verizon itself.
- Global Telecom Operators: While specific customers remain undisclosed due to confidentiality, PICadvanced’s NG-PON2 solutions are deployed by "one of the largest fiber networks in the world" (likely Verizon), serving as a gateway to other major clients.
- Ecosystem Collaborators: Engaged with standards bodies and industry forums to shape future PON technologies, including emerging 50G PON architectures.
New Relationships and Strategic Expansion
- North American Market Entry: PICadvanced plans to establish its first U.S. office while deepening ties with existing North American clients through its subsidiary, PICadvanced US LLC.
- Technology Center of Excellence: A planned R&D hub in Portugal aims to consolidate expertise in integrated photonics while attracting regional talent.
Market Positioning Post-Funding
The EIC Accelerator grant reinforces PICadvanced’s capacity to deliver bandwidth-efficient solutions that reduce reliance on raw materials and energy consumption—critical for operators transitioning toward sustainable networks. By integrating discrete optical components into single chips, the company addresses cost barriers associated with advanced PON deployments, positioning itself as a preferred supplier for upgrades beyond current GPON/10G-PON infrastructures.Technology Advancements and Scaling Impact
- NG-PON2 Leadership: Tunable bonded-channel optics developed for Verizon enable dynamic wavelength allocation crucial for enterprise services and 5G backhaul integration⇗⇗.
- Manufacturing Scalability: Photonic integration reduces component count by over 50%, lowering assembly costs—a critical factor highlighted by investors like Verizon Ventures when evaluating production readiness⇗⇗.
Through these relationships, PICadvanced is positioned at the forefront of high-capacity access networks globally while leveraging EIC funding to bridge lab-scale innovations with industrial-grade manufacturing capabilities.
Sources Used:
6 The Hiring and Company Growth
PICadvanced SA: Team Growth and Strategic Hiring Post-EIC Accelerator Funding PICadvanced SA, a Portuguese photonics innovator specializing in integrated circuit solutions for telecommunications, has positioned itself as a disruptor in optical access networks since its 2014 founding. While specific headcount figures are not publicly disclosed, the company’s recent activity suggests strategic expansion to meet growing demands in fiber-to-the-home (FTTH) technology.Key insights into their team dynamics include:
- Global Expansion: PICadvanced US LLC was established to strengthen North American operations, indicating cross-continental hiring efforts for roles spanning R&D, engineering, and client support.
- Ecosystem Collaboration: The company benefits from partnerships within Europe’s photonics ecosystem (e.g., EPIC), hinting at collaborative hiring or shared talent pools with specialists like Bay Photonics and EFFECT Photonics.
- Technical Leadership: Their focus on "design for US platforms" implies recruitment of engineers skilled in photonic integrated circuit (PIC) design and manufacturing scalability.
While no recent management changes are reported, PICadvanced’s emphasis on vertical integration—from concept to production—likely drives hires in process engineering and quality assurance. New team members would accelerate product commercialization, enabling faster deployment of compact optical interfaces critical for next-gen broadband networks.
Sources
7 The Media Features and Publications
Media Features and Public Recognition of PICadvanced, SA PICadvanced, a Portuguese photonics innovator specializing in NG-PON2 transceivers and integrated optical circuits, gained significant media attention following its 2023 EIC Accelerator win. The company secured €17.4 million to commercialize next-generation optoelectronic components for fiber-to-the-home networks, emphasizing energy efficiency and superior bandwidth. Verizon’s venture arm highlighted PICadvanced in a 2023 feature detailing its journey from a 15-employee startup to a key supplier for major operators, including collaborations on tunable bonded-channel optics and plans for a North American office.Publications Spotlighting PICadvanced
- IT Portugal: Reported on the EIC funding milestone, emphasizing the company’s role in advancing fiber-optic infrastructure and its academic roots as an Instituto de Telecomunicações spin-off co-founded by António Teixeira.
- JePPIX Interview: CEO Francisco Rodrigues discussed photonic integration’s role in telecommunications during an interview with JePPIX (a European photonics platform), outlining plans for O-band platform development to enable terabit-speed networks.
Podcasts and Interviews
While no podcasts were identified through available sources, Francisco Rodrigues participated in multiple interviews:
- JePPIX Community Dialogue: Detailed PICadvanced’s use of multiproject wafer services to reduce prototyping costs and expand into biomedical applications alongside telecom solutions.
- Verizon Ventures Case Study: Highlighted the partnership’s impact on scaling production capabilities and tripling revenue since 2020.
Conference Participation and Industry Events
Though specific conferences are not listed in search results:
Sources
- PICadvanced secures €17.4 million via EIC Accelerator – IT Portugal (November 2023)
- Verizon's Feature on PICadvanced's Growth – Verizon Newsroom (July 2023)
- JePPIX Interview with Francisco Rodrigues – JePPIX Community Dialogue
- PROTEUS-6G Project Details – EU CORDIS Database (January 2024)
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