1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator is a flagship funding initiative under the European Innovation Council (EIC) set up by the European Commission. It aims to support small and medium-sized enterprises (SMEs), particularly startups and deep tech companies, in developing and scaling innovative products and services. The EIC Accelerator is designed to foster breakthrough innovations that have the potential to create new markets or significantly enhance existing ones.

Funding Structure

The EIC Accelerator provides a dual funding mechanism:

Companies can receive a grant of up to €2.5 million. This grant is primarily aimed at covering the costs associated with the development of innovative products or services, including research and development, prototyping, and testing. The grant supports projects that have high technical and commercial risks but show significant potential for market impact.

The EIC Accelerator also offers equity investment, which can be up to €15 million until 2024 and is reduced to €10 million from 2025 onward. This equity component is intended to help companies scale their operations and penetrate markets more effectively. The EIC can take a minority stake in the company, allowing it to leverage private investment alongside the funding provided.

Purpose in the European DeepTech and Startup Ecosystem

The EIC Accelerator plays a pivotal role in the European deep tech and startup ecosystem by:

• Fostering Innovation: It identifies and supports high-potential startups and SMEs, enabling them to develop groundbreaking technologies and solutions.
• Bridging the Funding Gap: Many innovative companies face challenges in securing funding from private investors, especially in the early stages. The EIC Accelerator mitigates this risk by providing essential funding, thus encouraging private sector investment.
• Enhancing Competitiveness: By supporting deep tech ventures, the EIC Accelerator contributes to the competitiveness of the European economy, driving technological advancements and job creation.

Role in Scaling Companies

The EIC Accelerator acts as a catalyst for scaling companies by:

• Providing Financial Support: The combination of grants and equity funding enables companies to focus on development and growth without the immediate pressure of profitability.
• Access to Networks: The EIC provides access to a broad network of investors, mentors, and industry experts, facilitating connections that can lead to further funding and partnership opportunities.
• Market Penetration: With its support, companies can accelerate their go-to-market strategies, enhancing their chances of successfully launching and scaling their innovations.

EIC Accelerator Winner: SAS UPMEM and Project ENERGIA/PIM

Company Name: SAS UPMEM
Project Acronym: ENERGIA/PIM
Description: The project aims to accelerate data center performance through the development of advanced memory chips designed to efficiently manage the challenges of the big data age.

Funding Type: Grant first
Website: upmem.com
Country: France
Cut-off Date: June 16, 2021

Project Details

The ENERGIA/PIM project focuses on integrating computing capabilities directly into memory chips. This innovative approach, known as Processing in Memory (PIM), addresses the limitations of traditional computing architectures where data transfer between memory and processors often becomes a bottleneck. By enabling data processing to occur closer to where the data is stored, UPMEM aims to significantly enhance data center performance, reduce latency, and lower energy consumption.

Technology Basics and Background

• Processing in Memory (PIM): PIM technology allows computations to be performed directly within the memory chips rather than relying on separate processing units. This results in reduced data movement, which is often a significant source of inefficiency in traditional computing architectures. PIM can dramatically improve processing speeds and energy efficiency, making it ideal for applications that handle large volumes of data, such as artificial intelligence and big data analytics.
• Memory Chip Innovation: UPMEM's memory chips are designed to support high-performance computing environments, particularly in data centers. By incorporating PIM capabilities, these chips enable faster data processing and more efficient data management, which are crucial in today's data-driven landscape.
• Impact on Big Data: As organizations continue to generate and rely on vast amounts of data, the need for efficient processing solutions becomes paramount. UPMEM's technology addresses this need by enabling faster data access and processing, ultimately allowing businesses to derive actionable insights from their data more quickly and efficiently.

In summary, the EIC Accelerator program significantly contributes to the European innovation landscape by supporting groundbreaking projects like SAS UPMEM’s ENERGIA/PIM, providing the necessary funding and resources for deep tech companies to thrive and scale in a competitive market.

2 The Funding Rounds

SAS UPMEM, a French fabless semiconductor company specializing in processing-in-memory solutions, received EIC Accelerator funding on June 16, 2021. (eic.ec.europa.eu) Since then, there have been no publicly disclosed funding rounds or significant financial events reported for the company.

The company's website, upmem.com, does not provide additional information regarding recent funding activities.

Given the lack of publicly available information, it is possible that SAS UPMEM has not pursued further funding rounds or has chosen not to disclose such information publicly.

3 The Press Releases

Since receiving the EIC Accelerator funding on June 16, 2021, UPMEM has published several press releases detailing their advancements, partnerships, and project involvements. Below is a summary of these releases:

1. October 14, 2021: Selection for Horizon Europe EIC Accelerator Program

UPMEM announced its selection by the Horizon Europe EIC Accelerator program, recognizing the company as one of the most innovative startups in Europe. This highly selective mark reflects the program's support for UPMEM's innovative approach in the semiconductor industry. (upmem.com)

2. August 24, 2021: Participation in GenoPIM Initiative

UPMEM, alongside two leading French research centers in genomics, became part of the French and EU public research initiative named GenoPIM. The initiative aims to establish the foundation for processing-in-memory (PIM) technologies in genomics, enhancing the efficiency of genomic data processing. (upmem.com)

3. November 9, 2021: Involvement in BioPIM EU Research Project

UPMEM, in collaboration with leading R&D labs, participated in the successfully funded EU research project called BioPIM. With a €3 million grant, the project focuses on advancing PIM technologies for bioinformatics applications, aiming to improve the performance and efficiency of bioinformatics computations. (upmem.com)

4. March 10, 2022: Endorsement by Onur Mutlu

Onur Mutlu, a widely recognized computer scientist at ETH Zurich, shared his impressions and analysis of UPMEM's PIM technology. His endorsement highlights the potential impact of UPMEM's solutions in addressing the challenges of data-intensive applications. (upmem.com)

5. December 14, 2022: Kick-off of SystainML Project

UPMEM participated in the kick-off meeting of the SystainML project held by eProsima in Madrid. The project focuses on sustainable machine learning, aiming to develop energy-efficient machine learning models and systems. (upmem.com)

6. February 13, 2024: Involvement in STRATUM Project

UPMEM announced its involvement in the STRATUM project, a groundbreaking initiative aimed at revolutionizing brain tumor surgery through advanced technology. As part of a leading consortium supported by the European Union, UPMEM contributes its expertise in processing-in-memory technologies to enhance surgical precision and outcomes. (upmem.com)

7. December 11, 2023: Participation in ODYSSAI Project

UPMEM became part of the ODYSSAI project, an initiative supported by the France 2030 investment plan. This collaboration, led by Thales and including partners such as 2CRSi and Kalray, focuses on advancing edge computing and AI technologies to drive innovation in various sectors. (upmem.com)

8. September 12, 2023: Successful €7M Fundraising

UPMEM successfully raised €7 million to revolutionize AI and analytics processing. This significant milestone includes €4.1 million in equity from the European Innovation Council (EIC) Fund and various venture capitalists, along with a €2.5 million grant from the EIC. The funding aims to enhance UPMEM's Processing In Memory (PIM) solutions, offering cost-effective and energy-efficient solutions for AI and analytics applications in data centers and at the edge. (newswire.com)

These press releases highlight UPMEM's continuous efforts in advancing processing-in-memory technologies, forming strategic partnerships, and contributing to innovative projects across various sectors.

4 The Technology Advancements

UPMEM, a Grenoble-based semiconductor company specializing in Processing-In-Memory (PIM) technology, has made significant advancements since receiving the European Innovation Council (EIC) Accelerator funding on June 16, 2021.

Current Capabilities:

UPMEM develops PIM solutions that integrate processing capabilities directly into memory modules, aiming to enhance performance and energy efficiency for data-intensive applications. Their technology addresses the "memory wall" issue by reducing the need for data movement between the CPU and memory, thereby improving overall system efficiency. (upmem.com)

Advancements Since EIC Accelerator Funding:

Following the EIC Accelerator funding, UPMEM has achieved several milestones:

• September 12, 2023: The company raised €7 million, comprising €4.1 million in equity from the EIC Fund and various venture capitalists, and a €2.5 million grant from the EIC. This funding is intended to accelerate the development and commercialization of their PIM technology. (newswire.com)
• February 13, 2024: UPMEM announced its involvement in the STRATUM project, a groundbreaking initiative aimed at revolutionizing brain tumor surgery through advanced technology. (upmem.com)

Technology Improvements and New Features:

UPMEM has focused on enhancing the efficiency and scalability of its PIM solutions. Their technology has demonstrated the potential to reduce energy consumption, cost, and hardware footprint by up to 10 times while boosting performance. This advancement is particularly beneficial for AI and big data applications in data centers and at the edge. (newswire.com)

Market Demonstrations:

UPMEM has engaged in several collaborations to demonstrate the practical applications of its PIM technology:

• October 25, 2019: The company partnered with Orange Labs to explore the use of PIM chips as security amplifiers for IoT and edge processing. This collaboration aimed to enhance security in 5G, IoT, and edge deployments. (upmem.com)
• February 20, 2023: UPMEM hosted a Euro-Par Minisymposium on Applications and Benefits of its commercial Massively Parallel Processing-In-Memory Platform. The event showcased the innovative PIM solutions and their applications in various fields. (upmem.com)

Intellectual Property and Publications:

While specific details about new patents, scientific studies, clinical trials, or whitepapers are not readily available in the provided sources, UPMEM's ongoing collaborations and funding efforts suggest active engagement in research and development to advance their PIM technology.

In summary, since receiving the EIC Accelerator funding, UPMEM has made significant strides in developing and commercializing its PIM solutions, securing substantial funding, and engaging in strategic partnerships to demonstrate the practical applications of its technology.

5 The Partnerships and Customers

Since receiving the EIC Accelerator funding on June 16, 2021, UPMEM has engaged in several strategic collaborations and secured significant investments to advance its mission in revolutionizing data processing through Processing In Memory (PIM) technology.

New Partnerships and Customers:

Nature and Purpose of Relationships:

• STRATUM Project: UPMEM's involvement in STRATUM signifies a commitment to applying its PIM technology in the medical field, particularly in enhancing the precision and efficiency of brain tumor surgeries.
• ODYSSAI Project: Participation in ODYSSAI aligns with UPMEM's strategic focus on edge computing and AI, aiming to develop innovative solutions that address the growing demands for real-time data processing and analysis.
• €7 Million Funding Round: The substantial investment underscores confidence in UPMEM's PIM technology and provides the necessary resources to scale operations, invest in research and development, and expand market reach.

Market Positioning:

These collaborations and investments position UPMEM as a leader in the semiconductor industry, particularly in the emerging field of PIM technology. By diversifying its applications across sectors such as healthcare and edge computing, UPMEM enhances its market presence and demonstrates the versatility and scalability of its solutions.

Technology Advancements and Scaling:

The partnerships with projects like STRATUM and ODYSSAI provide UPMEM with opportunities to refine its PIM technology in real-world, high-demand environments. The €7 million funding enables UPMEM to accelerate research and development efforts, leading to technological advancements and the scaling of its solutions to meet the needs of diverse industries.

Through these strategic initiatives, UPMEM is poised to drive significant advancements in data processing efficiency and performance, solidifying its position in the global semiconductor market.

6 The Hiring and Company Growth

Since receiving the EIC Accelerator funding on June 16, 2021, UPMEM, a French fabless semiconductor startup specializing in Processing In-Memory (PIM) solutions, has demonstrated significant growth and strategic developments.

Current Team Size and Hiring Status:

As of October 2021, UPMEM's team comprised 24 individuals based in Grenoble, Paris, and other European locations. The company aimed to expand its workforce to approximately 100 employees by the end of 2023, leveraging the €2.5 million grant and up to €15 million in equity from the EIC Accelerator program. (newswire.com)

In September 2023, UPMEM secured an additional €7 million in funding, including €4.1 million in equity from the EIC Fund and venture capitalists, and a €2.5 million grant from the EIC. This financial boost underscores the company's ongoing growth and commitment to scaling its operations. (newswire.com)

Team Growth and Key Hires:

While specific details about recent hires are not publicly disclosed, the substantial funding rounds indicate a strategic focus on expanding the team to support product development, sales, and customer support. The integration of new team members is expected to enhance UPMEM's capabilities in delivering innovative PIM solutions and accelerating the adoption of their technology in AI and big data applications.

Impact on Company Growth and Scaling:

The influx of funding and team expansion positions UPMEM to strengthen its market presence and accelerate the commercialization of its PIM technology. By increasing its workforce, the company aims to enhance product development, improve customer support, and expand its reach in global markets, thereby driving growth and scaling operations effectively.

Management and Founding Team Changes:

There are no publicly available reports indicating major changes in UPMEM's management or founding team since the EIC Accelerator funding in 2021. The company's leadership, including CEO and co-founder Gilles Hamou, remains focused on advancing PIM technology and expanding the company's footprint in the semiconductor industry.

In summary, UPMEM has demonstrated substantial growth and strategic development since receiving the EIC Accelerator funding, with plans for significant team expansion and continued innovation in PIM solutions.

7 The Media Features and Publications

Since receiving the EIC Accelerator funding on June 16, 2021, SAS UPMEM, a French company specializing in memory solutions, has been featured in various media outlets, participated in industry events, and engaged in interviews. Below is a summary of their activities and media presence since that date:

Media Features:

June 2023: SAS UPMEM was featured in an article titled "Facing the Reality of Real-Time Payments: Are Anti-Fraud Protections Up to Speed?" published by Risk Intelligence | GARP. (sas.com)

Publications Mentioning SAS UPMEM:

June 2023: The company was mentioned in the aforementioned article by Risk Intelligence | GARP. (sas.com)

Podcasts and Interviews:

March 2023: SAS UPMEM's CEO, Joseph Najim, participated in a podcast discussing the publisher and advertiser dynamic, alongside Mivi Plouvier, Head of Programmatic at SAS. (ivy.fm)

Conferences and Events:

• September 2024: SAS UPMEM showcased their innovations at the SAS Innovate On Tour in São Paulo, Brazil, engaging with leaders in data and AI. (blogs.sas.com)
• July 2024: The company participated in the SAS Innovate 2025 event, sharing their expertise and insights into data and AI advancements. (blogs.sas.com)

Event Involvement:

July 2024: SAS UPMEM was involved in the SAS Hackathon, collaborating with global teams to solve real-world problems using SAS technologies. (blogs.sas.com)

These activities highlight SAS UPMEM's active engagement in the tech industry, their contributions to discussions on real-time payments and anti-fraud measures, and their participation in significant events and collaborations within the data and AI sectors.