Two companies secure millions in EU funding with our support

'These two companies show that Norwegian solutions and businesses can compete at the highest level,' says Håkon Haugli, our CEO. 'By using artificial intelligence, DoMore Diagnostics is paving the way for new and far more precise cancer treatments. Similarly, Ocean Visuals can reduce the damage caused by oil spills by using advanced sensor technology. The whole world needs these solutions, and we are proud to have helped these companies succeed with their EU applications.'

Of the 1,083 companies that applied for funding, 40 were Norwegian, 11 were invited to interview, and two received funding. This is a strong result, well above the average for participating countries.

Ocean Visuals is a technology company based in Ålesund that develops and supplies sensor systems for collecting and storing real-time data on oil spills at sea. The sensors are installed on offshore vessels, ferries, oil rigs and buoys, or mounted on drones, helicopters and surveillance aircraft. They generate data on the type of oil detected in the water, down to the molecular level.

The company will receive €2.2 million from the EIC Accelerator, with the option of up to €6.2 million in matching funding if it raises capital at a later stage. Ocean Visuals has previously received support from the Norwegian Ministry of Foreign Affairs, Norway Grants, the Research Council of Norway and us.

'We build costly sensor systems based on laser technology. The grant from the EIC Accelerator will make it easier for us to source components for batches of sensors, allowing us to manufacture them in series at a lower cost. We want to have sensors available at short notice and gradually expand into relevant markets,' says Christian Testman, CEO of Ocean Visuals. 'The EU support gives us the opportunity to build valuable partnerships with customers and organisations in several countries, expand our team, scale up production and commercialise our products.'

DoMore Diagnostics uses artificial intelligence to tailor colorectal cancer treatment to each patient. The technology enables the company to predict patient outcomes based on the cancerous tumour and identify which patients will benefit from chemotherapy after surgery. The company will receive a grant of €2.5 million and an offer of up to €7.5 million in matched funding if it raises capital at a later stage.

Torbjørn Furuseth is CEO and co-founder. He emphasises the importance of the EU support:

- 'This award provides important external validation of our development plans and confirms the unique and significant commercial potential of our technology. With support from the EIC Accelerator programme, we can make substantial progress towards our goal of ensuring personalised cancer treatment for every cancer patient,' says Furuseth.

The EIC Accelerator (European Innovation Council Accelerator) is an EU funding scheme that enables small and medium-sized enterprises to apply for grants of up to €2.5 million and equity investments of up to €15 million. The funding supports breakthrough innovations with strong potential for international growth and a significant positive impact on the environment and society.

We are the national contact point for the EIC Accelerator and provide advisory support as you develop your EIC application, prepare your pitch and practise answering challenging questions from a jury in Brussels.