Realheart receives approval to participate in the second application stage of Horizon Europe for soft funding

Realheart has received approval to participate in the second stage of the application process for funding from the Horizon Europe EIC Accelerator program, which runs between 2021 and 2027. The EIC Accelerator will support innovative SMEs within the EU and jointly address global societal challenges, including healthcare.

Realheart is part of the first batch of deep tech companies invited to submit the full application to the second stage of evaluation. Now, Realheart has 1 year to apply in step 2, starting from the upcoming deadline of June 16, 2021. A decision on whether to receive funding from Horizon Europe will be made within approximately 4 months after the application has been submitted.

About the EIC Accelerator

The EIC Accelerator is the Horizon Europe’s flagship funding scheme for innovative start-ups and SMEs. The highly competitive funding programme awards deep tech companies with a combination of grants and optional equity investments up to  17.5 million Euro.

About the First Evaluation Stage

In the first stage of evaluation, four experts from the European Commission assess the excellence and impact of the innovation. Realheart has passed this first evaluation stage with four GOs out of the four experts. A “Seal of Quality” that recognises several years’ of dedicated work within Realheart with the ambition of gaining access to various types of soft funding in addition to share capital.

About the Application

“We have taken the feedback from previous applications into account, and with each new application we have received a higher score. Other companies we have spoken to have applied up to 6 times before they have received financing, so we have understood that it can be a process that takes time, but which probably pays off if you make the necessary improvements”, says Realheart's CEO Dr Ina Laura Perkins.

Realheart's vision is that no one should die of heart failure. Realheart develops an artificial heart (TAH) of ground-breaking technology that is based on 20 years of research and development and is at the forefront of science. The company works intensively with preparations to make the heart available to patients as soon as possible and thereby save lives and healthcare costs. Heart failure causes an enormous amount of suffering and is one of our major global public health problems and one of the most common causes of death. Realheart's total capital requirement is estimated at approximately SEK 450 million until the commercial phase is reached. The goal is for at least 50 percent of the capital requirement to be able to be financed with various types of soft funds, R&D tax subsidies etc. Realheart estimates that the total market potential for current product execution is at least 129,000 TAH in Europe and the USA, which corresponds to approximately SEK 130 billion annually.