The grant will be used to bring the European media sector in a winning position with powerful AI applications
Amsterdam, May 22, 2018 – Media Distillery, an artificial intelligence startup focused on extracting valuable data from video, announced that it has received a grant of €1.4 million from the European Union under the prestigious SME Instrument program, part of Horizon 2020.
Media Distillery provides a unique AI platform to generate Deep Content UnderstandingTM in real-time and at an unparalleled scale. The company applies its technology in the media sector in order to help TV operators enhance the consumer experience in their replay environments and provide the perfect Video-On-Demand experience for consumers. Media Distillery’s technology improves the discoverability and user experience of traditional TV and ameliorates monetisation of valuable video content.
Boost to realise mission
Roland Sars, CEO of Media Distillery, is excited: “We are very honoured to receive the recognition from the European Innovation Council SME Instrument Jury in this highly competitive process. This grant indicates that Media Distillery is one of the most innovative and promising companies in Europe. It is a great step towards realising our mission: To help people discover relevant video content faster with an ultimate user experience.”
SME Instrument stimulates Europe’s most promising small and medium-sized enterprises and supports their innovation and business development with a total annual budget of € 431 million. For this round, no fewer than 1,280 European companies from 37 countries submitted a project application. After a tough selection procedure, the best 135 companies were invited for a second assessment in the form of a pitch for a jury of innovation and business experts. Media Distillery is one of the 67 European companies that have been awarded a grant.