Introduction:
Photosynthetic B.V. is an Amsterdam-based deep-tech startup founded in 2018, developing Volumetric Micro-Lithography (VML) – an ultra-fast micro-3D printing technology capable of producing complex micro- and nano-scale structures with feature sizes below 1 µm. Unlike conventional microfabrication methods, VML forms entire 3D objects simultaneously (volumetric printing), enabling industrial-scale throughput without sacrificing resolution.
VML targets a critical bottleneck in microfabrication: bridging the gap between high-resolution prototyping and scalable manufacturing. With early pilots and Letters of Intent spanning microneedle array patches (MAPs) for vaccine/drug delivery and micro-porous membranes for single-cell analysis, Photosynthetic is positioning its technology as a platform for next-generation healthcare and microfluidic products.
UpSpark is a Polish EU funding consultancy specialising in supporting innovative companies in securing grant funding and scaling their game-changing technologies through high-impact EU programs, including the EIC Accelerator. This case study highlights UpSpark’s collaboration with Photosynthetic to structure a compelling EIC Accelerator application, translating a complex, interdisciplinary technology into a credible scale-up, market entry, and blended-finance investment case – ultimately securing €5.5 million in EIC blended funding (€2.5 million grant + €3.0 million equity).
Client Profile:
– Client Name: Photosynthetic B.V.
– Technology: Volumetric Micro-Lithography (VML) – volumetric micro-3D printing based on single-photon polymerization, delivering sub-micron precision at production speed.
– Industry: Microfabrication / Additive Manufacturing / MedTech-enabling deep tech
– Location: Amsterdam, The Netherlands
– Project Name: Unlocking production-speed additive manufacturing at the micro-scale
– Project Objective: Advance the current TRL 6 VML system to TRL 8 (zero-series commercial printer by Q3 2026) and prepare series production readiness (TRL 9) in 2027.
– Funding Secured (EIC blended finance): €5.5 million (€2.5 million grant + €3.0 million equity).
The Challenges:
Photosynthetic’s EIC application required aligning a highly technical, physics-chemistry-software innovation with the EIC Accelerator’s expectations on breakthrough, market creation, and scalable impact. Key challenges included:
1. Communicating breakthrough novelty: explaining VML’s advantages vs. Two-Photon Lithography and other microfabrication routes, while keeping the story accessible to non-specialist evaluators.
2. Credible scale-up path: translating TRL 6 validation into a milestone-driven plan to reach TRL 8/9, including hardware industrialisation, materials qualification, automation, and quality control.
3. Beachhead market focus: prioritising initial high-value applications (MAPs and micro-porous membranes) while demonstrating platform scalability to future markets (micro-optics/photonics).
4. Evidence-based market traction: leveraging pilot results, paid feasibility work, and LOIs to demonstrate willingness to pay and conversion into repeatable revenue streams.
5. Blended finance logic: building a coherent funding narrative combining EIC grant and equity with credible co-investment, unit economics, and an investable long-term growth/exit path.
UpSpark’s Approach:
UpSpark supported Photosynthetic end-to-end in shaping the EIC Accelerator proposal into a coherent, evaluator-friendly investment case, while preserving the technical depth required for a deep-tech assessment. Our approach included:
1. EIC fit and positioning workshop: sharpened the problem statement, innovation claim, TRL baseline, and EU added value, aligning terminology with EIC scoring logic.
2. Technology narrative and SOTA benchmarking: structured a clear comparison of VML vs. TPL, microSLA and lithography routes, anchoring differentiation in measurable parameters (speed, resolution, geometric freedom).
3. Application-led market strategy: refined target segments, early adopter personas, and value propositions for micro-porous membranes and microneedle array patches; integrated partner evidence and validation pathways.
4. Implementation architecture: translated the development roadmap into a milestone-driven work plan (technology, pilot facility/customer validation, dissemination and IP/quality), including risks and mitigations.
5. Blended finance and investor readiness: built the funding request rationale (grant vs. equity), strengthened the financial model assumptions, and ensured consistency between the commercial plan and fundraising strategy.
The Outcome:
Photosynthetic secured €5.5 million in EIC Accelerator blended funding (€2.5 million grant + €3.0 million equity), enabling the company to accelerate industrialisation of its VML platform. UpSpark delivered a complete, evaluator-ready application package positioning VML as a defensible, scalable microfabrication platform with strong initial market pull and a credible route to industrialisation.
Client Testimonial:
Working with UpSpark was a very positive experience from the very start. The collaboration was smooth, transparent, and well-structured, with clear communication throughout the entire process. The team was highly responsive and accommodating, combining strong work discipline with deep expertise in EU funding. We could always rely on them when questions came up—they consistently took the time to explain, advise, and support us whenever needed. The results we obtained were truly top-notch and could serve as an example for many companies preparing complex funding applications. We will certainly work with UpSpark again in the future.
– Magdalena Kurzyp, Chief Business Officer at Photosynthetic.
Conclusion:
This case study demonstrates UpSpark’s capability to translate frontier microfabrication innovation into a coherent EIC Accelerator narrative – combining technical depth, market focus, and a blended-finance logic that supports both EU policy objectives and investor-grade scalability.
For more information about our services, please visit https://www.upspark.eu or contact us directly at contact@upspark.eu.
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