EIC Fund brings five AI-focused start-ups to AI House at Davos to showcase European deep tech
- ›From 15 to 19 January 2024 the EIC Fund supported five European start-ups at AI House during the World Economic Forum in Davos.
- ›The cohort included companies working on AI chips, edge semiconductors, quantum inspired software, genomics driven drug discovery, and AI weather forecasting.
- ›The European Investment Bank and the Commission’s Directorate General for Research and Innovation accompanied EIC Fund companies during business development and conference sessions.
- ›The showcase highlights Europe’s push to back deep tech but leaves open questions about capital intensity, timelines for commercialization, and regulatory and supply chain constraints.
EIC Fund at Davos: pitching European AI deep tech in the AI House
Between 15 and 19 January 2024 the European Innovation Council Fund staged a presence at the World Economic Forum in Davos. The EIC Fund brought five of its portfolio start-ups to the AI House Davos, a forum designed to gather policymakers, academics and industry leaders to debate opportunities and responses to artificial intelligence. The EIC offered the selected companies an intensive programme of business development and networking alongside high level conference sessions.
Who attended and who supported them
The EIC Fund selected five start-ups to represent its portfolio at the AI House. Representatives from the European Investment Bank and the European Commission’s Directorate General for Research and Innovation supported the companies and participated in sessions. The EIC positioned the appearance as a week of intensified networking and business development for its companies.
| Company | Technology focus | Source claim | Key commercialization challenge |
| SiPearl | High performance computing chip for AI | Developing next generation HPC chips for AI workloads | Long lead times and heavy capital needs to design, fabricate and certify advanced processors |
| Axelera AI | Semiconductors for AI at the edge | Developing semiconductors optimised for AI computing at the edge | Balancing power, latency, and ecosystem support for edge deployment |
| Multiverse Computing | Quantum inspired software and algorithms | Bringing quantum inspired algorithms to market to boost AI computing capacity | Translating theoretical gains into robust, production grade software and measurable business ROI |
| Arctic Therapeutics | Applied genomics plus AI for drug development | Using genomics and AI to accelerate drug discovery and advancing a treatment for dementia | Clinical validation, regulatory approval and long development timelines for therapeutics |
| Skyfora | AI driven weather forecasting | Delivering weather forecasts at unprecedented scale and precision using AI computing and algorithms | Verification against established meteorological systems and operational integration with users |
Brief profiles and technical notes
Each presenting company sits in a distinct technical niche. Chips and semiconductors are hardware heavy and capital intensive. Quantum inspired software seeks algorithmic advantage without requiring fault tolerant quantum hardware. Genomics plus AI in drug discovery promises to speed target identification but still faces the long, expensive paths of clinical trials and regulatory approval. AI driven weather models must demonstrate consistent operational improvements over established numerical weather prediction systems to be widely adopted.
Why the Davos showcase matters to Europeans and what to watch
The appearance of EIC Fund companies at Davos is both symbolic and practical. Symbolically it signals that European deep tech can compete on global stages and that public investors want to amplify that message. Practically, Davos exposes companies to potential partners, customers and co‑investors and can accelerate introductions that lead to commercial deals or follow‑on funding.
Yet important questions remain. Hardware startups need sustained capital and supply chain partnerships to move from prototypes to mass production. Biotech firms must progress through costly clinical pipelines and manage regulatory risk. Software claims, especially around quantum or unprecedented accuracy, require independent validation and transparent benchmarks. Finally, broader policy issues around data governance, AI safety, and industrial strategy will influence how rapidly these companies can scale in Europe and internationally.
| Indicator to watch | Why it matters | What would signal progress |
| Follow-on funding and co-investors | Shows private markets are willing to back capital intensity | Major series rounds or strategic industrial partnerships |
| Independent benchmarks and peer reviewed results | Validates technical claims and helps customer adoption | Public benchmarks, third party tests or academic citations |
| Regulatory milestones | Critical for biotech and some safety critical AI applications | Clinical trial progress, approvals or clear regulatory pathways |
| Deployment at scale | Transition from lab to operational use demonstrates commercial viability | Signed pilots or commercial contracts with reference customers |
A measured view
Showcases at Davos can amplify momentum for startups and for EU industrial ambitions. The EIC Fund’s role in bringing companies to international forums is a useful example of public actors supporting visibility for European deep tech. Still, visibility is not the same as sustainable scale. Investors, policymakers and customers should use these moments to press for details on timelines, independent validation and the realistic capital and supply needs behind headline claims. The long term impact of initiatives like this will depend on follow through, including access to manufacturing, patient capital, regulatory clarity and a healthy private market that can co‑invest alongside public funds.
The EIC Fund’s Davos presence brought attention to five companies working at the intersection of AI and foundational technologies. Observers should track whether these firms convert the exposure into concrete partnerships, product deployments and measurable improvements, and whether Europe’s ecosystem can provide the patient capital and industrial capacity those ambitions require.