Tidetec applied to the EIC Accelerator funding program. The EIC Accelerator offers start-ups and SMEs grants of up to €2.5 million combined with equity investments through the EIC Fund ranging from €0.5 to €15 million or more. In addition to financial support, all projects benefit from a wide range of Business Acceleration Services that provide access to leading expertise, corporates, investors and ecosystem actors.

The application was assessed positively by the EIC jury, but there was insufficient funding available.

However, Tidetec will be awarded a Seal of Excellence. The Seal of Excellence will help these companies to find alternative sources of funding, including from the Recovery and Resilience Funds and European Regional Development Funds.