Mon Sep 23 20:12:03 UTC 2024: ## EU Funds Quantum Computing and Cryogenics with €165 Million Grant
**Brussels, [Date]** – The European Innovation Council (EIC) has awarded €165 million in grants to 68 innovative companies, including five quantum technology startups, as part of its first Accelerator round of 2024.
The selected companies, which also received equity investments totaling €245 million, are developing groundbreaking technologies across various sectors, including renewable energy, artificial intelligence, and biomedical applications.
Five quantum technology startups – Kiutra, QuiX Quantum, Welinq, and two others not named in the press release – were awarded grants for their proposals, focusing on quantum computing and quantum-enabling cryogenics.
“I personally consider the EIC Accelerator to be an essential instrument for financing deep tech, high-risk start-ups that are strategically relevant in the EU,” commented Stefan Hengesbach, CEO of QuiX Quantum. “The Accelerator will allow us to push our objectives and vision of building Europe’s leading quantum photonic products.”
The EIC Accelerator program aims to support high-growth potential companies, providing them with a combination of grants and equity investments. The funding will help these startups further develop their innovations and contribute to Europe’s position as a global leader in quantum technology.
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