The EIC Accelerator data & stats for 2023

The EIC Accelerator data & stats for 2023

Welcome to Lira’s sixth EIC newsletter and the fourth of 2024. This newsletter’s goal is to keep you informed on the EIC Accelerator and hopefully provide insightful data and helpful tips from the foremost EIC experts.


In this issue

We will present all the data & stats for 2023. The budget for 2023 was €1.137bn, while €1.090 was allocated to 172 companies.



2,758 FAs were sent in 2023: 25% of them – 681 – made it to the F2F interview; 172 were selected for funding, which is 25% of the ones invited to the F2F and 6% of the FAs. The trend seen in the last two years is of less companies selected but with a higher amount of funding allocated to them.



83% of the funding awarded in 2023 was for Blended Finance projects. The cumulative data since June 2021 is 80%, or €2.6bn allocated for Blended Finance. This is a clear indication of the EIC’s willingness to make equity investments in deep-tech companies and crowd in more and more qualified private capital.



Like in the previous two years, France is the undisputed leader with 26 successful companies. The Netherlands had their best annual performance ever with 21. Germany came third at 18. Sweden had a strong performance with 13. Spain at 12 is consistent with 2021 and 2022 results. 172 companies from 22 countries were selected in total. This is less than the total in 2022, when 227 candidates were successful.



France is also the most funded country for a third year in a row. Germany and the Netherlands confirm their position in the top 3.



Latvia and Cyprus had only one selected company each. Hence, we should highlight Israel and France, consistently over the years they have the highest average amount per funded company. The overall average in 2023 was €6.1mn vs 5.53mn in 2022.



The table below is our famous “matrix” where you can find the breakdown per country, by funding type, and all the figures for 2023.



18 companies led by a female CEO were awarded funding in 2023 worth a total of €107mn. That’s 10% of the total with the average funding at €5.9mn, which is slightly below the overall €6.1mn average.



The 18 companies are distributed in 10 countries. France and Sweden are leading with 4 each. Spain has 3 and the rest of the countries one each.



French female CEOs raised the most, reaching €42mn, Swedish ones followed with €28mn, and Spanish female CEOs reached €14mn.



What to expect for this year

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, we should see the same number of FAs presented across this two deadlines this year, but a decrease in the total number of selected companies due to larger amounts allocated per company and the reduced budget. 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 derisk on their technology to become investor-ready?


On another note, and following many requests from my readers, I went places to get hold of the number of FAs sent in March. Still I was unsuccessful in my pursuit. Beside, in the latest EIC newsletter released on the 18th April there was no mention of that data which is usually shared in the newsletter. Please get in touch if you have it. It would be very useful to analyse the current trends.


In the next newsletter, we will present the cumulative data & stats after three years from the launch of the fully fledged EIC Accelerator programme. Until then, take care!

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