EIC Accelerator cumulative data & stats

EIC Accelerator cumulative data & stats

Dear Readers & Data Lovers, welcome back to our newsletter on the EIC Accelerator data & stats. In this newsletter, we will present all the cumulative data and stats for the last three years. The EIC Accelerator in its fully-fledged version was officially launched in 2021. After nine Full Application cut-off dates, 563 companies were awarded €3.336bn.



7,811 FAs were sent since June ‘21. 23% of them – 1,763 – made it to the F2F interview. 563 were selected for funding, which is 32% of the ones invited to the F2F and 7% of the FAs.



80% of the funding awarded was for Blended Finance projects. 316 Blended Finance projects secured €2.65bn. 169 Grant First projects received €407mn, which is 12% of the total funding. 65 companies were selected for Grant Only and were awarded €140mn. 13 companies requested Equity Only for a total of €137mn.



France is the undisputed leader with 88 successful companies. Germany is second with 77. The Netherlands made it to the third place with 61 selected companies. The five top countries represent more than 50% of the 563 winners, probably leading to a larger avg. amount allocated per company.



France is also the most funded country overall. Germany and the Netherlands confirm their position in the top 3.



The UK saw 32 companies awarded Grant Only since that’s the only funding type available for that country. The Netherlands was awarded mainly Grant First and Blended Finance, a similar trend seen in France.



Latvia and Cyprus had only one selected company each, while Iceland had 3. Hence, we should highlight France and Israel, consistently over the years they have the highest average amount per funded company. The overall average per company is €5.92mn.



The table below is our famous “matrix” where you can find the breakdown per country, by funding type, and all the figures for the last three years.



88 companies led by a female CEO were awarded funding worth a total of €500mn. That’s 16% of the total with the average funding at €5.66mn, which is slightly below the overall €5.92mn average.



The 88 companies are distributed in 18 countries. France and Spain are leading with 16 and 14, respectively. French female CEOs raised the most, reaching €121mn, while Spain female CEOs were awarded €81mn.



What to expect for 2024

If the current trends continue and considering a budget that decreased from €1.1bn in 2023 to €675mn in 2024 and the removal of the grant-only funding scheme (leading to large avg. amount allocated per company), we should see the same number of FAs presented across the two deadlines this year, but a decrease in the total number of selected companies. That leads to a question I have been pondering for quite some time as I analyse every single cut-off data and each winner: is the EIC Accelerator a funding scheme for early-stage scale-ups needing to accelerate their growth, or a funding scheme designed for early-stage start-ups in need to further de-risk on their technology to become investor ready?

In my previous newsletter I reached out to you enquiring about the number of Full Applications sent for the March ‘24 cut-off. Thanks to Elena who replied to one of my LinkedIn posts, I understood that 978 FAs were submitted. This is a 12% increase vs the 868 average. This was to be expected as there are only two cut-off dates for 2024, the cooling-off rule was cancelled, and the 3-max-submissions rule will start having some impact from 2025 onwards.

In the next newsletter, we will present the data and stats of the first cut-off of 2024. Until then, enjoy the longer and brighter days!


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