The EIC Accelerator Report and all the data & stats for the last cut-off of 2023

The EIC Accelerator Report and all the data & stats for the last cut-off of 2023

Welcome to Lira’s fifth EIC newsletter and the third 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.

Our highly anticipated EIC Accelerator Report for 2023 & Cumulative is now available. Please follow the link below to request it.

In this issue

We will present the EIC Accelerator data for November 2023 which was the last cut-off of 2023.

 

November 2023

 

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.

 

 

€285mn were allocated to the 42 selected companies. The top 3 countries, Germany – France – Sweden, accounted for 44% of the total. Italy, Finland and Norway had a strong performance when compared to the previous cut-offs.

 

 

In this cut-off we have noticed an increase in the average funding awarded to companies. In 2022 the average was €5.5mn. In the last cut-off of 2023 it went up to €6.8mn. While Ireland and Denmark had only 1 selected company each, Germany had 7 and the average awarded funding was €8.9mn. In 2022, €5.4mn was the average for Germany companies. This might confirm a trend seen in 2023 where less companies are selected than in the past but are awarded on average more funding.

 

 

26 blended-finance companies secured 83% of the funding in this cut-off confirming the overall trend which sees 80% of the funding awarded so far to blended finance. Since 2021, 316 companies have been awarded €2.6bn in blended finance funding.

 

 

Germany did particularly well in this cut-off as it secured 7 winners with the highest average awarded funding at €8.9mn. Italy did well too and better than in the previous cut-offs with 3 companies selected averaging €7.5mn in funding.

 

 

Only 3 companies with a female CEO – 7% of the winners were selected in the last cut-off of 2023.

 

I hope you enjoyed reading our latest newsletter. In the meantime, do not forget to request our highly anticipated EIC Accelerator Report. Until the next newsletter, take care and enjoy the springtime.

 

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