The EIC Accelerator data & stats for the November 2023 cut-off, 2023, and cumulative

The EIC Accelerator data & stats for the November 2023 cut-off, 2023, and cumulative

Welcome to Lira’s fourth EIC newsletter and the second 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.


Before starting off with the data and stats, let’s briefly remind you of the EIC Accelerator. It is the most coveted funding scheme under Horizon Europe, launched in its fully fledged form in 2021. It has a €675mn budget for 2024 and offers non-dilutive grant funding up to €2.5mn, and equity funding up to €15mn. The EIC Accelertor targets deep-tech start-ups and scale-ups from EU Member States and Associated Countries. It is very popular among the best tech ecosystems in Europe and extremely competitive.


This newsletter is for all the deep-tech entrepreneurs, NCPs, tech accelerators/incubators, EU/Associated countries representatives, VC funds’ partners, consultants, and curious minds interested in keeping up-to-date with the most insightful data and news on the EIC Accelerator. Sit back, relax, and enjoy the reading!


In this issue

We will present the high-level EIC Accelerator data for November 2023 which was the last cut-off of 2023. We will then do the same for the whole year – 2023 – and finish off with the cumulative data since 2021.


November 2023


November was the last cut-off of 2023. It was the first time the EIC Accelerator had 4 cut-off dates for submitting Full Applications. In 2021 it was 2, 3 in 2022, while in 2024 there will be only 2 cut-off dates. Perfectly in line with the trends seen in the previous years, the last cut-off of the year is the one receiving the highest number of submissions: 1,083 FAs submitted in November 2023, vs 1,093 in 2022, and 1,081 in 2021. We expect this trend to continue in 2024. In particular, in March we should see a number of FAs slightly above the current 868 average, while in October we could expect a similar number in line with the previous end-of-the-year cut-off dates. However, we should see a decrease of the total number of submissions starting from 2025 due to the new 3-max-submissions rule introduced with the 2024 EIC Work Programme.



In the last cut-off of 2023, the number of companies invited to the F2F interview was 243 – 22% of the total and in line with the previous cut-offs. However, only 42 were deemed eligible for funding. 42 out of 243 represents just 17% of the companies invited to the F2F interview and a big drop compared to the 31% of the previous year. Even the FA>W success rate went significantly down. In November, the FA>W success rate was just 4% vs the 6% 2023 average and the 7% cumulative.


42 Companies were deemed eligible for funding. In the last cut-off of the previous year, it was 78. The difference in the number of selected companies is mainly due to the funding type and the average ticket size. Only 15 countries made it into the list of November’s winners: Germany got 7 and was on top of the chart, France came second with 6, while Sweden and Spain got 5 and reached the third place in the November ranking. Italy had a strong performance with 3 winners, same for Finland with 4. Israel with 2 and Ireland with 1 are back among the winners. The Netherlands, which had a very successful 2023, only got 2.




Almost 3,000 FAs were sent in 2023. 25% of them – 681 – made it to the F2F interview. 172 are the selected companies for 2023, 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.



Like in the previous two years, France is the undisputed leader with 26 successful companies. The Netherlands have 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.


Cumulative data since June 2021 cut-off


Since the launch of the fully fledged programme in 2021, almost 8,000 FAs have been sent to the EIC Accelerator. The current average, after 9 cut-off dates, is 868 per cut-off. 1,763 F2F interviews took place, which implies 23% of the FAs made it to the F2F interview stage. 563 companies were deemed eligible for funding. That’s 32% of the companies invited at the F2F and 7% of all the FAs.



Since day one France has been the leader in the EIC Accelerator. 88 French companies, 15% of the total, have been selected out of the 563 that secured more than €3bn in funding. Germany is second with 77, the Netherlands are performing strong with 61, same for Spain with 42, Sweden with 33, and Israel with 32. In total, 30 member states and associated countries are present in this ranking.


What to expect for 2024

If the current trends continue and considering a budget that went from €1.1bn in 2023 to €675mn in 2024, we should see the same number of FAs in the 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?


In the next newsletter, we will present more data and stats on the amount of funding raised and a preview of our EIC Accelerator data & stats report that will be released in March. Until then, take care and see you at the EIC Summit in Brussels.

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