1 The EIC Accelerator Project

EIC Accelerator Program: An Overview

The European Innovation Council (EIC) Accelerator program is a key initiative aimed at supporting small and medium-sized enterprises (SMEs) in Europe, particularly those engaged in developing innovative, disruptive technologies. The program offers blended finance options, combining grants and equity investments to help businesses scale their operations and advance their technologies into the market.

Funding Structure

The EIC Accelerator offers a substantial grant component, providing up to €2.5 million to eligible projects. This grant is designed to support the early stages of development and address critical needs such as product validation, market entry strategies, and scaling operations.

In addition to grants, the EIC Accelerator offers equity investments up to €15 million until 2024 and a reduced cap of €10 million from 2025 onwards. This equity funding is crucial for companies looking to attract additional private investment, as it demonstrates institutional backing and reduces the perceived risk for private investors.

Purpose and Impact

The EIC Accelerator plays a vital role in the European DeepTech and startup ecosystem. By providing financial support and mentorship, it aims to foster innovation and accelerate the commercialization of advanced technologies. This initiative not only enhances the competitiveness of European SMEs but also helps create jobs and drive economic growth across the continent.

The program is particularly focused on supporting companies that are tackling global challenges, such as health, climate change, and digital transformation. By facilitating access to funding, the EIC Accelerator helps these companies scale their solutions and attract further investment from private sectors, thereby enhancing their growth potential.

Case Study: POWERFUL MEDICAL s. r. o. and the OMI AI ECG Model

Company Overview

POWERFUL MEDICAL s. r. o., based in Slovakia, is a pioneering company that specializes in the application of artificial intelligence (AI) to healthcare solutions. In November 2023, the company successfully submitted its Step 2 proposal for the EIC Accelerator and later won approval in the Step 3 interview for its innovative project titled OMI AI ECG Model.

Project Overview

The OMI AI ECG Model is designed to enhance the accuracy of heart attack diagnoses through advanced AI technologies. This application aims to provide healthcare professionals with more reliable tools for interpreting electrocardiogram (ECG) data, thereby reducing the chances of misdiagnosis and improving patient outcomes.

Technology Background

The OMI AI ECG Model leverages machine learning algorithms trained on vast datasets of ECG readings to identify patterns that may indicate a heart attack. Traditional methods of ECG interpretation can be subjective and heavily reliant on the training and experience of the healthcare provider. In contrast, the OMI Model utilizes AI to analyze the data objectively, identifying subtle anomalies that may be overlooked in standard assessments.

The underlying technology combines deep learning techniques with extensive databases of historical patient data. This allows the model to improve its accuracy over time, as it learns from new cases and integrates ongoing research findings in cardiology. By employing such sophisticated algorithms, the OMI AI ECG Model can enhance diagnostic precision and speed, ultimately leading to timely interventions that can save lives.

Conclusion

The EIC Accelerator program is instrumental in fostering innovation within the European startup ecosystem, providing essential funding and support to companies like POWERFUL MEDICAL. The OMI AI ECG Model exemplifies how advanced technologies can be harnessed to tackle significant health challenges, making strides toward more effective healthcare solutions. As the program continues to evolve, it remains a critical enabler of growth and innovation for SMEs across Europe.

2 The Funding Rounds

Powerful Medical s. r. o.: Financing and Funding Events Since EIC Accelerator Award

Overview

Powerful Medical s. r. o., a medtech company from Slovakia, has made significant progress in its funding journey following its successful application to the European Innovation Council (EIC) Accelerator program in November 2023.

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Financing Raised

Total Disclosed Funding:

As of early 2024, Powerful Medical has raised over €13.7 million from disclosed rounds since inception.

• Recent Major Funding:
• In early 2024, Powerful Medical secured €7.5 million through the EIC Accelerator: a €2.5 million grant plus a follow-on €5 million equity investment.
• Prior to this, in September 2022, they completed a seed round raising €6.2 million.

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Funding Rounds: Timing and Amounts

Date	Round	Amount	Investors/Source
Sep 28, 2022	Seed	€6.2M	Venture To Future Fund (VFF), CB ESPRI Impact One, bpd partners; several angels
Nov/Dec 2023	Grant (EIC)	€2.5M	European Innovation Council
Q1/Q2 2024	Equity (EIC)	€5M	European Innovation Council

• The seed round closed before the final EIC Accelerator interview cut-off date but was critical for enabling further growth and product development.
• The EIC funding was awarded after submission at the November cut-off and announced publicly starting February/March of the following year.

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Investor Information

Key Institutional Investors:

• European Innovation Council (EISMEA/EU): Provided both grant and equity funding as part of the prestigious EIC Accelerator award.
• Venture To Future Fund: Active investor in both earlier rounds; backed by the European Investment Bank.
• CB ESPRI Impact One
• bpd partners
• Additional support from Zero Gravity Capital, LifeX Ventures/Life Extension Ventures, CIVITTA as well as several business angels.

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Company Valuations

No explicit public valuation figures have been disclosed for any recent rounds or post-funding events up to May 2025.

However: > The combination of substantial grant/equity financing from a competitive EU program like the EIC Accelerator typically implies robust due diligence and strong validation of company potential by institutional investors.

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Exit Events: IPOs or Acquisitions

As of May 6th, 2025:

There are no reports or announcements regarding an IPO (Initial Public Offering), major acquisition/buyout offer, or other exit event involving Powerful Medical s.r.o..

The company remains focused on commercial scaling—with ongoing clinical validation efforts across Europe and preparations for US market expansion—supported by their latest investment influx.

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Summary Table: Recent Funding Activity for Powerful Medical s.r.o.

Year	Round Type	Amount (€ Millions)	Lead Investors
Sep '22	Seed	~6.2	VFF; CB ESPRI Impact One; bpd partners; Angels
Nov '23 & Feb–Mar '24 Grant + Equity €7.5 total (€2.5 + €5) European Innovation Council

*Public announcement dates may lag behind actual closing dates due to regulatory processes associated with large EU grants/investments.

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Sources

• Slovakian Powerful Medical Secures €7.5M EIC Funding to Redefine Heart Diagnostics
• Powerful Medical receives €7.5M from EIC
• Slovakia-based Powerful Medical bags €7.5M to speed heart attack diagnostics with AI
• Powerful Medical raises EUR6 million in Seed funding
• Powerful Medical company information on investny.org

3 The Press Releases

Powerful Medical s.r.o. Overview

Powerful Medical s.r.o., a Slovakian medical device manufacturer, has gained significant recognition following its successful funding from the European Innovation Council (EIC). The company received €7.5 million, comprising a €2.5 million grant and a €5 million investment, to support its innovative AI-powered heart attack diagnostics technology.

Background and Technology

Powerful Medical was co-founded in 2017 by Martin Herman, Robert Herman, Simon Rovder, and Viktor Jurasek. The company is known for its AI-driven ECG interpretation platform, PMcardio, which enhances the detection of acute heart attacks and other cardiac abnormalities by analyzing 12-lead ECG images against vast patient records. This technology aims to streamline healthcare workflows by providing early and precise diagnoses, thereby improving patient care and outcomes.

Funding and Partnerships

The EIC funding marks a significant milestone for Powerful Medical, following previous investments from notable venture capital firms such as CB ESPRI Impact One, bpd partners, and Venture to Future Fund. This new funding is crucial for commercialization and expansion within the EU and the US, further bolstering the company's position in the global healthcare market.

Mission and Future Plans

Powerful Medical is dedicated to reducing the global impact of heart diseases through advanced diagnostic tools. The company's mission extends beyond immediate heart attack treatment, focusing on early screening for heart failure and predictors of sudden cardiac death. The integration of AI technology into routine healthcare practices is expected to elevate patient care standards worldwide.

Current Press Releases and Updates

Recent updates can be found on Powerful Medical's website, highlighting their achievement in securing EIC funding and outlining their strategic plans for growth and innovation. These updates emphasize the company's commitment to transforming cardiovascular diagnostics globally.

Social Media and Press Coverage

While specific social media press releases from Powerful Medical are not detailed in available sources, the company's achievements have been covered in various media outlets, highlighting their pioneering role in AI-driven medical diagnostics.

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Sources: - Unveiling the Latest EIC Accelerator Results: A Comprehensive Analysis

• Slovakian Powerful Medical Secures €7.5M EIC Funding to Redefine Heart Diagnostics
• Slovak medtech Powerful Medical receives €7.5M from EIC
• Powerful Medical Secures €7.5M | European Innovation Council

4 The Technology Advancements

Overview of Powerful Medical s. r. o.

Powerful Medical is a Slovakian medtech company renowned for its innovative AI-powered solutions in cardiovascular diagnostics. Since receiving the EIC Accelerator funding in November 2023, Powerful Medical has continued to advance its mission to revolutionize heart attack detection and improve patient outcomes globally.

Advancements and Developments

Following the EIC funding, Powerful Medical secured a significant €7.5M package, comprising a €2.5M grant and a €5M investment from the European Innovation Council. This funding has been pivotal in enhancing the company's clinical validation efforts and expanding its presence across Europe, with plans to enter the US market. The PMcardio platform, which analyzes 12-lead ECG images to detect acute heart attacks and 38 other cardiac abnormalities, has been a key focus for commercialization.

Technology Improvements

The company has continued to refine its PMcardio platform, integrating it into existing hospital workflows to streamline triage processes and enhance patient outcomes. The AI-driven platform facilitates early and precise diagnoses by comparing results with millions of previous patient records. Additionally, Powerful Medical's AI models are being developed to screen for heart failure and sudden cardiac death predictors, even in asymptomatic patients.

Market Demonstrations

Powerful Medical has been actively involved in clinical trials and demonstrations. Notably, they launched a significant digital health clinical trial in Slovakia under the new EU Medical Device Regulation, involving over 1400 patients. This trial highlights the company's commitment to validating its technology through extensive clinical studies. Furthermore, with ongoing US pilots and pending FDA approval, Powerful Medical is strategically positioning itself for a broader global reach.

Scientific Studies and Patents

While specific new patents or scientific studies published since the EIC funding are not detailed, Powerful Medical's PMcardio platform has been validated in over 30 studies, underscoring its commitment to rigorous clinical validation. The company's advancements are closely tied to its partnerships with leading medical institutions, which facilitate the translation of research into practical medical solutions.

Conclusion

Powerful Medical continues to lead the AI revolution in cardiovascular care, leveraging its recent funding to accelerate clinical validation and market expansion. With its cutting-edge PMcardio platform and ongoing research collaborations, the company is poised to make significant contributions to global healthcare by improving heart attack detection and treatment strategies.

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Sources:

• About | PMcardio: AI-powered ECG Interpretation - Powerful Medical
• PMcardio: AI-Powered ECG Interpretation | Powerful Medical
• Powerful Medical Receives FDA Breakthrough Device Designation for PMcardio STEMI AI ECG Model
• Powerful Medical launches the historically first medical device clinical trial under the new EU Medical Device Regulation
• Slovakia-based Powerful Medical bags €7.5M to speed heart attack detection
• Slovakian Powerful Medical Secures €7.5M EIC Funding to Redefine Heart Diagnostics
• Powerful Medical Secures €7.5M in Funding from European Innovation Council
• Powerful Medical from Slovakia secures €7.5M from European Innovation Council
• PMcardio for Organizations - Powerful Medical

5 The Partnerships and Customers

Powerful Medical's Strategic Partnerships and Market Positioning Post-EIC Accelerator Funding

Key Partnerships and Customers
Powerful Medical has established a strategic partnership with the Cardiovascular Research Center Aalst, a globally recognized authority in cardiology. This collaboration integrates their AI-driven PMcardio platform with clinical expertise to enhance cardiac care outcomes. The company also lists Life Extension Ventures, Venture to Future Fund (backed by the European Investment Bank), Zero Gravity Capital, and CIVITTA as key investors and partners supporting their global expansion.

While specific customer names are not publicly disclosed, the company’s focus on integrating PMcardio into hospital workflows suggests partnerships with healthcare institutions across Europe. Recent pilots in the U.S., pending FDA approval, indicate engagements with American medical providers.

Nature of Relationships and Strategic Impact

• Cardiovascular Research Center Aalst: This partnership aims to validate clinical efficacy, refine AI models for early detection of heart failure and sudden cardiac death predictors (e.g., Brugada syndrome), and position PMcardio as a gold-standard diagnostic tool.
• EIC Accelerator: The €7.5 million grant-investment hybrid supports commercialization in the EU/U.S., clinical trials for new AI models, and scaling infrastructure to meet demand.
• Investor Consortium: Backing from impact-focused funds like CB ESPRI Impact One enhances credibility for regulatory approvals (e.g., FDA) and market penetration.

Market Positioning Through Partnerships
By aligning with top-tier cardiology centers like Aalst, Powerful Medical reinforces its reputation as an innovator in AI-driven diagnostics. The EIC funding accelerates entry into the U.S. market while solidifying EU leadership—key steps toward becoming a global standard-bearer in cardiovascular care technology^.

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Sources

• [Slovakian Powerful Medical Secures €7.5M EIC Funding
• Partnership with Cardiovascular Research Center Aalst
• EIC Grant Fuels Global Expansion
• Funding History & Investor Details
• US Pilots & Clinical Validation Efforts

6 The Hiring and Company Growth

Powerful Medical s. r. o.: Recent Developments and Growth

Powerful Medical, a Slovak-based medtech startup, has been making significant strides in the healthcare sector, particularly since receiving the EIC Accelerator funding in November 2023. This support has propelled the company forward in its mission to revolutionize cardiovascular diagnostics with AI technology.

Current Headcount and Team Size

As of the latest available information, the exact headcount or team size of Powerful Medical is not publicly disclosed. However, the company has a diverse leadership team that includes key positions such as Co-founders, Chief Medical Officer, Chief Technology Officer, and various clinical leads.

Hiring and Team Growth

There is no specific information available about current hiring processes or recent team growth. However, the company's strategic partnerships and funding suggest ongoing efforts to expand and enhance its operations.

Recent Hiring and Key Positions

While specific recent hires are not detailed, Powerful Medical's leadership includes figures like Dr. Jozef Bartunek, Dr. Pendell Meyers, and Viktor Jurasek, highlighting its emphasis on clinical expertise and technology.

Impact of New Team Members

New team members, particularly those with specialized clinical and technical expertise, are crucial for Powerful Medical's future growth. They contribute to the development and validation of its AI-powered ECG platform, PMcardio, which aims to improve cardiovascular diagnostics and streamline patient care pathways.

Major Changes in Management or Founding Team

There are no specific reports of major changes in the management or founding team of Powerful Medical. The company continues to be led by its co-founders, including Martin Herman as CEO and Dr. Robert Herman as Chief Medical Officer.

Future Growth and Scaling

The EIC funding and additional investments will play a pivotal role in Powerful Medical's expansion plans, enabling the company to intensify clinical validation and broaden its market presence across Europe and beyond. This strategic positioning is expected to enhance its global reach and impact on cardiovascular care.

Sources

• Powerful Medical launches 'PMcardio-1'
• About
• Powerful Medical bags €7.5M

7 The Media Features and Publications

Overview of Powerful Medical s. r. o.

Background and Mission: Powerful Medical s. r. o., a Slovakian company, is a pioneering medical device manufacturer focused on transforming cardiovascular diagnostics. The company has developed an AI-powered ECG interpretation platform called PMcardio, which significantly enhances the detection of acute heart attacks and various cardiac abnormalities at the first point of contact. This innovative approach is designed to reduce the global impact of cardiovascular diseases, the leading cause of death worldwide.

Funding from the European Innovation Council (EIC): On November 8, 2023, Powerful Medical successfully submitted a Step 2 proposal to the EIC Accelerator and later won funding in Step 3. The company received a €2.5 million grant followed by a €5 million investment from the EIC, totaling €7.5 million. This funding is crucial for commercializing PMcardio and ensuring the highest level of clinical validation through prospective randomized controlled trials.

Media Features and Publications: Since receiving the EIC funding, Powerful Medical has been featured in several publications highlighting its achievement and innovative technology. For instance, articles by The Recursive and Rasph have detailed the company's EIC funding and its mission to revolutionize heart diagnostics using AI.

Podcasts or Interviews: There is limited information available on specific podcasts or interviews conducted by the team. However, the company's leadership, including CEO Martin Herman and Chief Medical Officer Dr. Robert Herman, have been quoted in various articles discussing the impact of their technology and future plans.

Conferences and Fair Visits: While specific details about conference participations or fair visits are not readily available, the company's focus on expanding its reach within the EU and entering the US market suggests active engagement in relevant healthcare and technology events.

Involvement in Events: Powerful Medical's involvement in events is expected to increase as the company expands its market presence. The EIC funding will likely facilitate participation in significant medical technology conferences, where they can showcase PMcardio and its capabilities.

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Sources: - Latest EIC Accelerator Results - Rasph

• Unveiling the Latest EIC Accelerator Results
• Powerful Medical Secures €7.5M in Funding
• Slovakian Powerful Medical Secures €7.5M EIC Funding