Maeve Aerospace BV has been selected for a financial injection of 17.5 million euros from the European investment fund European Innovation Council (EIC), subject to co-financing. The fund announced this yesterday afternoon. (see: https://eic.ec.europa.eu/news/european-innovation-council-welcomes-78-high-potential-start-ups-and-smes-highly-competitive-2022-12-19_en) Co-founder Jan Willem Heinen calls the decision an "incredible stimulus that expresses the highest possible confidence".

Private investors

Maeve will receive a grant of 2.5 million euros and possibly 15 million euros in co-investments. The total of EUR 17.5 million is the maximum amount that the EIC may provide to innovative companies. In addition to the investment from the EU, Maeve expects to be able to complete a successful investment round with interested private investors in the short term.

Confidence and incentive

Co-founder Jan Willem Heinen: “Our employees and fellow founder Joost Dieben see the investment from the EU not only as an important financial step forward, but above all as a sign of the highest possible confidence in the promise Maeve Aerospace makes to civil aviation: bring a fully electric, emission-free and low-noise aircraft to the market for at least 44 passengers within 8 years. It gives an extra boost to the introduction of our new aircraft design in four months.”

The European Innovation Council

The EIC (https://eic.ec.europa.eu/index_en) has several funds with which it invests in innovative and scalable start-ups and SMEs. In addition to Maeve Aerospace BV, 77 other companies in the EU also receive an investment from the fund. The companies come from different European countries and were chosen from a short list of 275 companies that was compiled in October by a jury of experts and investors. In total, the European Innovation Council received more than 1,000 applications from all over the EU.