Unterzeichnung(en)
Übersicht
- Dienstleistungen - Information und Kommunikation
SimScale is a Germany-based start-up developing a cloud-based engineering simulation platform for engineers, designers and architects. The EIB financing will finance the company's research and development activities to enhance the simulation platform and support its business expansion.
The aim is to support the development of additional features of the promoter's simulation software suite, its deployment in the cloud infrastructure, the strengthening of customer service and sales functions as well as the overall expansion of the business.
The project is line with the Annex II of the InvestEU Regulation, namely advanced digital skills, artificial intelligence and other digital skills in the context of the promoter's engineering simulation software platform.
The investments targeted by the financing will address market failures related to: i) Information asymmetries due to higher risk levels associated to early stage firms, with mainly intangible assets or insufficient collateral, and focusing on higher risk activities; ii) suboptimal investment which require the development of innovative financial solutions and iii) an incomplete market in terms of competition, with a few large-scale players dominating the market.
The project will further support the promoter's software development activities to enhance the simulation software offering, broaden functionalities, expand the promoter's R&D capabilities and help the company to expand its business. The project is expected to create positive knowledge externalities, advanced digital skills and contribute to the development of deep-tech products in the EU.
The EIB's participation is expected to have a positive signalling effect, crowding in additional financiers for the company, including equity investors. The project would not have been carried out (to the same extent) without the support of InvestEU.
The project activities do not fall under Annexes I and II of the environmental impact assessment (EIA) Directive 2014/52/EU amending Directive 2011/92/EU, and are therefore not subject to mandatory EIA. The activities included in the scope are not expected to have any relevant environmental impact. Such assumptions and any other relevant environmental aspect will be further assessed during the project appraisal.
The Promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions.