March 19 (SeeNews) - Croatian provider of software to companies in the satellite industry, Amphinicy Technologies, said on Monday it has received EU funding of 1.3 million euro ($1.6 million) for its ultra-fast satellite data processing system.
The funding is provided under the Horizon 2020 programme SME Instrument Phase 2. The SME Instrument is a part of the European Innovation Council pilot (EIC pilot) which was set up to support top-class innovators, entrepreneurs, small companies and scientists with bright ideas and the ambition to scale up internationally.
Amphinicy Technologies was one of 57 small and medium sized enterprizes (SMEs) to be selected for funding by the EIC and the only one from Croatia, the company said in an e-mailed response to a SeeNews enquiry.
The company will sign the grant agreement with the European Commission in April for a period of two years.
The funds are intended for the development of the company product called Blink - an ultra-fast processor of data received from Earth observation satellites that is 20 times faster than existing reference NASA software, the company said.
"We will finalize Blink to the highest level of technical readiness and secure our position towards attracting partners that are the leading names in the satellite and space industries," Tomislav Nakic-Alfirevic, Earth satellite solutions manager at the company, said.
Blink will make it possible to process satellite data in near real time and allow a more appropriate reaction to global events, the company explained. It is expected to help previously impossible space missions come to life, while also enabling faster humanitarian reaction in emergency situations, improving border controls, as well as agriculture, ecology, logistics, and many more fields where Earth observation data provides valuable support.
Amphinicy Technologies also received funds from Horizon 2020 for Blink in the first stage of the SME instrument in early 2016.
"Stage 2 is important because it will enable us to accelerate the product development process, tighten industry bonds, and create new jobs. Support from the Horizon 2020 programme is a significant reference for future projects with the European Space Agency," said Mirta Medanic, programme leader at Amphinicy.
The EIC pilot was launched in 2017, bringing together the parts of Horizon 2020 that provide funding, advice and networking opportunities for those at the cutting edge of innovation. The SME Instrument, the Fast Track to Innovation (FTI), Future and Emerging Technologies (FET) Open and Horizon Prizes were brought under the EIC pilot umbrella, to provide a 'one stop shop' for funding of innovators in the EU.
($=0.813338 euro)