EIC awards Scantrust with €2.35 million in accelerator funding

The European Innovation Council welcomed 78 high potential start-ups and SMEs in the highly competitive 2022 selection round. Scantrust was among the only 7.8% of companies that were successful in obtaining a selection.

EIC awards Scantrust with €2.35 million in accelerator funding
The European Innovation Council Accelerator (EIC Accelerator) accepted Scantrust into its exceptionally competitive 2022 selection along with 77 other promising European companies. All told 1000 companies responded to the call for proposals with hopes to join the accelerator.
Since 2014, Scantrust has provided a way for inspectors and end customers to identify counterfeit items, also known as authentication. With this most recent €2.35 million in accelerator funding, Scantrust is continuing to invest in new features for the smartphone-based Scantrust authentication solution. This will translate into improvements in how quickly counterfeits can be identified and in increasing certainty regarding the origin of counterfeits. These improvements will continue to complement Scantrust product traceability and consumer engagement solutions for regulatory compliance as Scantrust continues to improve its software offerings.

The Future for Scantrust

New E.U. and U.S. regulations are coming into effect this year and in the next few years. Schemes like the Ecodesign Directive Digital Product Passport in the E.U. are creating compulsory changes for companies vis-a-vis their products and product packaging. Scantrust is applying our team’s experience and technological expertise to address imminent, new regulations that are related to new requirements for companies selling in the E.U. As an example, E.U. wine label requirements have introduced a major change that updates what is mandatory for all wines sold in the market from 2023 onward. We’re prepared to help companies sort through and manage these problems, whether regulatory, traceability, or counterfeiting related, regardless of their industry or size.

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