Nov ’23 Cut-off Data & Stats

Nov ’23 cut-off data & stats

Dear All, welcome back to our EIC Accelerator data & stats. In this article, we will have a look at the high-level data for the last cut-off of 2023 – November and comment on some interesting trends.

 

FA>F2F>W

 

The last cut-off of the year is usually the one receiving the highest number of FAs. 1,083 were sent in November ’23. This figure is in line with the 1,081 sent in October ’21 and the 1,092 sent in October ’22.


243 companies were invited to the F2F interview, which is in line with the October ’22 cut-off with 241 but higher than the 211 in October ’21.


The FA>F2F success rate was 22% in line with the current cumulative FA>F2F at 23%. It seems when FAs are slightly greater than 1,000 the FA>F2F success rate is around 22/23%.


The most significant data of this cut-off is the 4% FA>W success rate. In 2023, in the previous 3 cut-offs the FA>W was 7% in January, 9% in March and 7% in June. If we consider the data for the year, in 2021 it was 9%, in 2022 7% and in 2023 6%. Considering the cumulative data, the current FA>W is at 7%.

 

 

 

Ranking by country

Germany with 7 successful applicants made the first plance in the November ranking, followed by France with 6 and Sweden & Spain with 5. However, the overall winner for 2023 is France with 26, followed by the Netherlands with 21 and Germany with 18. Considering the cumulative data, France is still the undisputed leader with 88, followed by Germany at 77 and the Netherlands with 61. The three leading countries represent 40% of the 563 total winners.

 

Overall trends and what to expect in 2024

 

868 is the current average of FAs submitted after 9 cut-off dates since 2021. Clearly the last cut-off of the year is receiving on average the highest number of proposals. 2 cut-off dates are planned for 2024, one in March and one in October. Despite the introduction of 3/4 GOs to go from SA>FA and the new 3-max-submissions rule, we can expect more than 800 FAs in March and around 1,000 in October.


The FA>F2F success rate will depend on the introduction of the consensus meeting rule that could drive this % up according to some of my esteemed and well-experienced colleagues from my association (i.e. the European Association of Innovation Consultants).
However, taking into account a €675mn budget in ’24 which is less than the €1.1bn available in ’23 – the same average number of FAs per cut-off, we can expect the FA>W to be lower than the current 7%.

 

Conclusions

The EIC Accelerator is the most popular and coveted EU funding scheme for deep-tech start-ups and scale-ups. In 2024, the FA>W is most probably destined to be lower than in the previous years. That’s why both applicants and consultants should be cautious in assessing if and when starting the application process. Quality of the applications at the SA and FA stage, alongside the excellence of the team at the F2F interview will be paramount to get funded in 2024.


I hope you enjoyed this article. If you are in Brussels the 18th for the EIC Summit, please feel free to reach out as it’s always nice to meet up in person. Until the next article, take care.

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