This is the first time that a CISPA-supported startup receives funding from the European Innovation Council (EIC). LUBIS EDA was one of 51 companies to compete against 550 other applicants in a complex application process and convince an expert jury of experienced investors and entrepreneurs. LUBIS EDA will receive 2.5 million euros, the highest possible amount of funding from the EIC Accelerator. In addition to financial support, all projects will benefit from a range of services to accelerate their business growth. LUBIS EDA plans to use the funding to increase its workforce from ten to over thirty in the next two years and to launch its software on the international market.
LUBIS EDA: Innovative software for flawless and safe microchips
With the increasing demands on the performance and speed of microchips, LUBIS EDA ensures that semiconductors are not only developed faster and more reliably, but also free of defects. If faulty microchips are discovered too late, they can cause enormous material, economic and possibly even personal damage. They also represent a security risk because they provide an attack surface for criminal hackers. The innovative suoftware developed by LUBIS accelerates the microchip development process, enabling customers to bring products to market faster and without defects. The startup relies on formal verification techniques that can guarantee bug-free functionality.
2.5 million euros for the European semiconductor industry
The European Chips Act recently came into force, with the aim of establishing Europe as a leading location for semiconductor technologies and making it less dependent on production outside its borders. By investing in LUBIS EDA, the European Union is supporting the expansion of the European semiconductor industry through the EIC Accelerator. Dr. Tobias Ludwig, CEO & Founder of LUBIS EDA said: "We are very honored that the EIC Accelerator will support us in the coming years. Besides the great support for our technology and business idea, this is also a great compliment to our great team, of which we are very proud".
Max Wolf, Head of Startups & Entrepreneurship at CISPA, commented: "We congratulate LUBIS EDA on this impressive success. The support from the European Innovation Council is a well-deserved recognition of their hard work and innovative approach. It is inspiring to see a startup that we have supported succeed in such a competitive process. Their plans to significantly expand the company over the next two years and launch their software internationally promise continued positive growth. We look forward to accompanying the team on this journey!"
About CISPA and the Startup Incubator
As a leading international research center for cybersecurity, data protection and secure artificial intelligence, CISPA Helmholtz Center for Information Security achieves groundbreaking breakthroughs in foundational research. At the same time, it is establishing itself as a hub for innovation and groundbreaking solutions, transferring knowledge from academia to industry. The products and services of CISPA startups bring scientific progress to the market and make a sustainable contribution to the development of society. The CISPA Incubator supports young companies in the field of cybersecurity to bring their projects to market. Startups not only benefit from support in raising funds, but also have access to the large network of the CISPA community and enable contacts with the center's top researchers.
