Tilkal joins the very select circle of Europe's high potential SME's to be awarded funding from the most competitive European Innovation Council Accelerator.
October 14th, 2022
The European Commission selected 75 innovative start-ups after this year’s second EIC Accelerator cut-off in June. At Tilkal, we are honoured to be a part of this exceptional group of companies.
The companies were selected in a highly competitive process in which 232 companies were interviewed by juries of experienced investors and entrepreneurs out of a total of 1006 applications. The 75 selected companies will together receive close to €400 millions of funding in a combination of grants and equity investments.
Tilkal, trust and traceability platform for Industry 4.0
Tilkal is developing a solution to ensure trust and traceability for Industry 4.0, offering end-to-end visibility over a supply chain from upstream to downstream. It combines a secured and provable B2B data sharing network (based on blockchain to enable reciprocal responsibility across the supply chain), with algorithms for supply chain analysis and scoring in real-time.
Companies use Tilkal to improve control, compliance, sourcing origin and get fraud detection capabilities as well as to increase transparency towards their customers.
Our clients include Danone for the traceability of infant milk in China and the sourcing of plant-based milks in Europe, or Daher for the traceability of conflict minerals as well as for customs compliance on raw material imports in the aerospace sector. They also include Joone for radical transparency on more than 200 cosmetics and hygiene products, or the NGO Responsible Mica Initiative for the analysis of the mica sourcing flows of 80 manufacturers to fight against child labor.
In total, the Tilkal network is composed of more than 78 independent blockchain nodes operated by clients and their suppliers, and nearly 700 companies use it to share data.
A selection of EIC Accelerator jury comments about Tilkal
“The jury was impressed by the team's motivation, and felt the team was credible in delivering on an exciting opportunity which will be of strategic importance to the EU.”
“Tilkal is redesigning the currently available supply chain transparency approaches.”
“The platform is “ready to use and cross- sectorial, [which] really make it different because of its versatility, ease of use and a decrease in the cost of implementations.”
“The ability of the product (…) gives it the capacity to have a very high social and economic impact. Equally on an environmental level it is a product that will undoubtedly help to provide balanced manufacturing that has a positive impact.”
About the EIC Accelerator
The EIC Accelerator offers start-ups and SMEs grants of up to €2.5 million combined with equity investments through the EIC Fund ranging from €0.5 to €15 million or more. In addition to financial support, all projects benefit from a range of Business Acceleration Services that provide access to leading expertise, corporates, investors and ecosystem actors.
Since its launch in March 2021, over 7,000 start-ups and SMEs have sent their ideas and over 4000 have submitted full applications. The companies announced today were among the 1006 that submitted to the second 2022 cut-off on 15 June and join the 238 companies selected for funding by the EIC in 2021 and 2022.
Read press release announcing the EIC Accelerator’s selected companies.