The latest EIC Accelerator funding results have been published on February 17, 2025, for the October 3, 2024, cutoff date. A total of 71 innovative startups and SMEs have secured funding through this highly competitive program, which aims to support groundbreaking innovations in Europe and beyond.
This round of funding showcases the European Innovation Council’s (EIC) ongoing commitment to fostering deep-tech and high-impact ventures. Below, we break down the key statistics and insights from the latest results.
Key Highlights of the October 2024 EIC Accelerator Results
- Total funding allocated: €387 million
- Average funding per company: €5.45 million
- Funding types awarded:
- Blended finance (grant + equity): 56 companies (78.9%)
- Equity-only: 5 companies (7.0%)
- Grant-only: 10 companies (14.1%)
The continued dominance of blended finance funding shows the EIC’s preference for supporting startups that combine grant funding with equity investment, ensuring long-term scalability.
Breakdown of Funding Allocation
- Grant budget: €161 million
- Equity budget: €226 million
The significant €226 million in equity investments reflects the EIC’s strategy of backing high-potential startups beyond initial grant funding, helping them scale globally.
Success Rates – A Highly Competitive Process
The EIC Accelerator remains one of the most competitive funding programs in Europe:
- Step 2 success rate: 36%
- Step 3 success rate: 16%
- Overall success rate (from Step 2 to final selection): 5.9%
This means that out of every 100 applicants who reach Step 2, fewer than 6 companies ultimately secure funding, highlighting the program’s rigorous selection process.
Geographical Distribution of Funded Companies
The 71 selected companies come from 16 different countries, reflecting the broad European reach of the EIC Accelerator. The top-performing countries in this round are:
- Germany – 15 companies (21.1%)
- Netherlands – 11 companies (15.5%)
- Sweden – 7 companies (9.9%)
- Spain – 6 companies (8.5%)
- France – 5 companies (7%)
- United Kingdom – 5 companies (7%)
- Finland – 4 companies (5.6%)
- Israel – 4 companies (5.6%)
- Belgium – 3 companies (4.2%)
- Italy – 3 companies (4.2%)
- Austria – 2 companies (2.8%)
- Denmark – 2 companies (2.8%)
- Bulgaria, Luxembourg, Poland, Portugal – 1 company each (1.4%)
Germany and the Netherlands Lead the Way
With 15 selected companies, Germany continues to dominate the EIC Accelerator landscape, reflecting the country’s strong startup ecosystem and innovation-driven economy. The Netherlands, with 11 funded startups, also maintains its position as a powerhouse for deep-tech and high-impact ventures.
Smaller Ecosystems Gaining Traction
While countries like Bulgaria, Luxembourg, Poland, and Portugal secured only one funded company each, their presence in the results highlights the increasing participation of startups from diverse European regions.
Implications for Future EIC Accelerator Applicants
1. Blended Finance Remains the Preferred Funding Model
With nearly 79% of funded companies receiving a mix of grants and equity, the EIC Accelerator continues to push for long-term financial sustainability. Startups should be prepared to demonstrate not only the innovation potential of their technology but also a strong business case for scaling through equity investment.
2. The Competition is Fierce – But Step 2 Success is Encouraging
While the overall success rate is low (5.9%), the Step 2 success rate of 36% indicates that applicants with a solid business plan and innovation strategy have a strong chance of progressing in the selection process.
3. The European Deep-Tech Landscape is Growing
The diversity of funded companies shows that innovation is thriving across multiple sectors and geographies. Startups from countries with smaller ecosystems should not be discouraged, as the EIC Accelerator continues to fund high-potential projects regardless of location.
Final Thoughts
The EIC Accelerator remains one of the most prestigious funding programs for deep-tech startups and innovative SMEs in Europe. The latest results reaffirm the program’s commitment to high-impact, scalable technologies, with a strong focus on blended finance and equity investments.
For startups looking to apply in future cutoffs, careful preparation, a compelling innovation narrative, and a well-defined commercialization strategy will be key to success.
What’s Next?
- The next round of EIC Accelerator applications is expected to open soon.
- Startups should start preparing early, focusing on both technological innovation and commercial viability.
- Stay tuned for more updates on the evolving landscape of European startup funding!
Raw Data
Ticket Size
- Average ticket size: €5.45 million
- Average Grant: €2.44 million
- Average Equity: €3.70 million
Funding Type
- Blended Finance: 56 companies (78.9%)
- Equity Only: 5 companies (7.0%)
- Grant Only: 10 companies (14.1%)
- Total: 71 Companies
Budget
- Total Budget: €387 million
- Grant Budget: €161 million
- Equity Budget: €226 million
Dates
- Grant application cutoff date: October 3rd 2024
- Published results date: February 17th 2025
Success Rates
- Step 2: 431 out of 1211 (36%)
- Step 3: 71 out of 431 (16%)
- Step 2 & Step 3 combined: 71 out of 1211 (5.9%)
Countries
There are 16 different countries among the funded companies:
- Germany (15 companies and 21.1%)
- Netherlands (11 companies and 15.5%)
- Sweden (7 companies and 9.9%)
- Spain (6 companies and 8.5%)
- France (5 companies and 7%)
- United Kingdom (5 companies and 7%)
- Finland (4 companies and 5.6%)
- Israel (4 companies and 5.6%)
- Belgium (3 companies and 4.2%)
- Italy (3 companies and 4.2%)
- Austria (2 companies and 2.8%)
- Denmark (2 companies and 2.8%)
- Bulgaria (1 companies and 1.4%)
- Luxembourg (1 companies and 1.4%)
- Poland (1 companies and 1.4%)
- Portugal (1 company and 1.4%)
2024 Total Results
- Proposed Budget: €675 million
- Actual Budget: €672 million
- Funded Companies: 113
All EIC Accelerator Winners
| Company | Acronym | Description | Country | Year |
|---|---|---|---|---|
| EASELINK GMBH | MXI | MXI: MATRIX CHARGING INTERFACE INTEGRATING EVS INTO A SMART ENERGY SYSTEM | Austria | 2024 |
| Holloid GmbH | ROLF | Revolutionary OnLine Fermentation monitoring | Austria | 2024 |
| NannyML NV | EU-AURA | European Union AI Uncertainty Reduction and Alignment | Belgium | 2024 |
| VOXELSENSORS | SPAES | Single-Photon Active Event Sensor | Belgium | 2024 |
| NOVOBIOM | WASTE2WEALTH | A fungi-based biotechnological platform for competitive multi-stream waste revalorization. | Belgium | 2024 |
| ENDUROSAT AD | SD-IRS | Software-defined integrated satellite communication system to revolutionize data transfer from Low Earth Orbit | Bulgaria | 2024 |
| NEURESCUE APS | PULSE | Pioneering Unprecedented Life-Saving Equipment: Intelligent Aortic Balloon Catheter for Cardiac Arrest | Denmark | 2024 |
| TETRAKIT TECHNOLOGIES APS | TETRAKIT | A novel click chemistry-based, universal radiolabelling platform revolutionizing the generation of theranostic radiopharmaceuticals | Denmark | 2024 |
| SEMIQON TECHNOLOGIES OY | COOL-CHIPS | Cool-Chips - Cryogenic CMOS chips for quantum, HPC and space industry | Finland | 2024 |
| Fifth Innovation Oy | Elementic | Rebuilding our world with new carbon elements that turn buildings into carbon storage structures | Finland | 2024 |
| Lumo Analytics Oy | LASO-LIBS | Enabling on-site mechanical analysis of drill cores for sustainable and efficient mining | Finland | 2024 |
| Pixieray Oy | Perfect Vision | First adaptive eyewear to offer perfect vision for people with myopia and progressing presbyopia | Finland | 2024 |
| IKTOS | AIR-3D | Iktos Robotics: Integrating AI and Robotics for efficient Drug Design and Discovery | France | 2024 |
| HUMMINK | BIRD | Breakthrough Integration and Resolution in Defect Repair | France | 2024 |
| TREEFROG THERAPEUTICS | C-STEM XL | C-STEM : ground-breaking path to the XL scale | France | 2024 |
| QUOBLY | MCQube | Breaking Barriers in Scalable Quantum Computing | France | 2024 |
| Robeaute | SmartMicroBiopsy | Smart Microrobotic Biopsy: A Leap Forward in Brain Disease Diagnostics | France | 2024 |
| Nature Robots GmbH | A-FORWARD | Autonomous Full Farming for Optimised Regenerative and Wholesome Agriculture with Robotics and Deep- Learning | Germany | 2024 |
| SEMRON GmbH | Aloe AI | Breakthrough 3D-Stacked AI Inference Chip Enabling the Deployment of Multi-Billion-Parameter LLMs on Edge Devices | Germany | 2024 |
| CODASIP GMBH | Codasip CHERI | Codasip CHERI technology for highly secure processors | Germany | 2024 |
| BioThrust GmbH | ComfyCell | ComfyCell: Novel Bionic Bioreactor for Industrial Stem and Immune Cell Manufacturing | Germany | 2024 |
| LiveEO GmbH | EOinTime | EOinTime: Satellite-based change detection and predictive monitoring of infrastructure grids based on high- resolution data | Germany | 2024 |
| AUGMENTED INDUSTRIES GMBH | FLOW-AI | AI-Powered Training in the Flow of Factory Work for Industry 5.0 | Germany | 2024 |
| eleQtron GmbH | MAGICAL | All-integrated on-chip ion trap towards fault-tolerant quantum computing | Germany | 2024 |
| MetisMotion GmbH | naXture | The new standard for sustainable electrification of actuation contributing to a decarbonised Industry 5.0 | Germany | 2024 |
| Noah Labs GmbH | NL Vox | Noah Labs Vox - Detecting Worsening Heart Failure with AI-based Voice Monitoring | Germany | 2024 |
| INVITRIS | Phactory | Final development and commercial preparation of Phactory™, a universal platform technology to enable scalable phagebased drug development and production | Germany | 2024 |
| ATMOS SPACE CARGO GMBH | Phoenix 2 | A novel space return capsule for life sciences microgravity experiments | Germany | 2024 |
| MYOPAX GMBH | Satgeno | SATGENO: Regenerative gene repair therapy for muscular dystrophies | Germany | 2024 |
| FluIDect GmbH | SpheroScan | On-line, real-time biosensor for monitoring bioprocesses and food production using µBeads sensor technology to optimize production processes and ensure food safety | Germany | 2024 |
| Tracebloc GmbH | tracebloc | Building the Global Data Access Layer for AI: Scalable, Secure, and Energy-Efficient AI Model Development | Germany | 2024 |
| Vivalyx GmbH | Vivalyx | A game-changing technology to revolutionise donor organ preservation and enlarge the pool of organs for transplantation | Germany | 2024 |
| CYBERRIDGE LTD | CyberRidge - Carmel | Launching Photonic Encryption for Data Security in the Post-Quantum Era with the CyberRidge All-Optical Stealth and Secured Solution for High-Speed Coherent Optical Communication | Israel | 2024 |
| DeepKeep Ltd | DeepKeep | DeepKeep Safeguards AI Applications Across LLM, Vision, Spatial Sensing, Human-Machine Interaction and Multimodal Models with AI-Native Security and Trustworthiness | Israel | 2024 |
| Luminescent Solar Power | Lava Heat Engine | The world’s most efficient heat engine: Turning heat into zero-emission electricity for industrial and geothermal applications | Israel | 2024 |
| Magneto Thrombectomy Solutions | MGN-2024-10 | Magneto eTrieve thrombectomy system EIC funding application | Israel | 2024 |
| NanoPhoria srl | NP-MP1 | Inhalable therapeutic nanoformulations for non-invasive and selective treatments of the diseased heart | Italy | 2024 |
| STAR TRIC SRL | StarTric | StarTric - A novel transcatheter medical device to treat Tricuspid Regurgitation | Italy | 2024 |
| Aindo srl | SydAi | A novel synthetic data generation platform that produces private, secure and robust synthetic data for AI use cases | Italy | 2024 |
| OQ TECHNOLOGY Sarl | 5NETSAT | 5G NTN SATELLITE DIRECT TO MOBILE IN-ORBIT DEMONSTRATION | Luxembourg | 2024 |
| Brineworks B.V. | BRINEWORKS | BRINE AND SEAWATER-BASED CARBON REMOVAL INITIATIVE FOR NEUTRALIZING AVIATION AND MARITIME SHIPPING EMISSIONS. A WATER OPTIMIZATION PATHWAY FOR RENEWABLE KEYSTONE SOLUTIONS | Netherlands | 2024 |
| C2CA TECHNOLOGY BV | C2CA | Revolutionary solution to unlock concrete-to-concrete circularity | Netherlands | 2024 |
| Deeploy B.V. | Deeploy | FIRST MLOPS INTEGRATING REAL-TIME RISK MANAGEMENT, COMPLIANCE AND EXPLAINABILITY WHERE THE AI MODEL RUNS | Netherlands | 2024 |
| CarbonX BV | ECo-AnodeX | The world’s first Eco-friendly and Cost-effective active Anode material ready to be mass produced in eXisting industrial facilities | Netherlands | 2024 |
| VarmX BV | FOLLOWON | Final clinical development of a revolutionary human recombinant protein to stop and prevent life-threatening bleedings | Netherlands | 2024 |
| Astrape B.V. | OPTINET | Revolutionizing Data Centres: Enabling Sustainable and High-Efficiency Optical Networking | Netherlands | 2024 |
| Leyden Laboratories BV | PanFlu | PANDEMIC PREPAREDNESS THROUGH INTRANASAL ADMINISTRATION OF BROADLY EFFECTIVE MONOCLONAL ANTIBODIES AGAINST ALL INFLUENZA STRAINS | Netherlands | 2024 |
| Nextkidney B.V | PORTADIALYS | The NeoKidney: Next Generation Hemodialysis Device Making Hemodialysis Finally Portable | Netherlands | 2024 |
| QDI systems | QDIMAGING | Disrupting X-ray and Short-Wave Infrared Imaging Technology with Quantum Dots | Netherlands | 2024 |
| DELFT CIRCUITS B.V. | Tuxedo | Development of Tuxedo: a super-conducting flex-to-pcb interface connection for quantum technologies | Netherlands | 2024 |
| Veridi Technologies BV | VERIDI | Veridi: AI-Powered Soil Biodiversity Analysis and Monitoring | Netherlands | 2024 |
| Captor Therapeutics Spolka Akcyjna | CT-03 | A First-in-Class MCL-1 degrader to promote apoptosis in therapy-resistant liquid and solid tumours | Poland | 2024 |
| PFx Biotech Lda | HuMiLAF | Human Milk Lactoferrin by Precision Fermentation | Portugal | 2024 |
| Esencia Foods Spain SL | Esencia Foods | Pioneering vegan whole cuts through mycelium solid state fermentation | Spain | 2024 |
| IPRONICS PROGRAMMABLE PHOTONICS,SL | EXCITE | First Scalable Field-Programmable Photonic Gate Array Platform For Photonic Chip Development and Data Centre Switch Applications | Spain | 2024 |
| CONNECTA THERAPEUTICS SL | FRAXCURE | FRAgile X syndrome Clinical trial: Unravelling the science behind this Rare disease in Europe | Spain | 2024 |
| MOA BIOTECH SL | MOA FOODTECH | Transforming Agri-Food By-Products into High-Nutritional Value, Sustainable Proteins and Ingredients | Spain | 2024 |
| GLOBAL ECOFUEL SOLUTIONS, S.L. | ROW2FUEL | Breakthrough one-step, low-energy conversion technology for cost-efficient production of GHG saving sustainable fuels from waste | Spain | 2024 |
| PREMIUM FERTILITY | TD System | A novel embryo transfer technology to improve pregnancy rates | Spain | 2024 |
| AirForestry AB | ADATHA | Aerial Drone-based Automated Tree Harvesting System for Sustainable Forestry | Sweden | 2024 |
| ENAIRON AB | Airon | The world´s most energy efficient Industrial Air Compressor | Sweden | 2024 |
| CORPOWER OCEAN AB | CORPACK | CorPack - Turnkey building block for scaling novel wave energy technology into competitive utility-scale wave farms | Sweden | 2024 |
| SAVEGGY AB | CRISP | Coating fruit and vegetables Reducing plastic waste and Increasing Shelf life of Produce | Sweden | 2024 |
| Superintelligence Computing Systems SICSAI AB | HYPER | Foundation AGI model for Industrial Robots | Sweden | 2024 |
| AlzeCurePharma AB | NeuroRestore ACD856 | ACD856 - Revolutionising Alzheimer’s disease treatment through disease-modifying and cognitive- enhancing therapy | Sweden | 2024 |
| Blykalla AB | SEALER | A lead-cooled small modular reactor to deliver the next generation of clean energy. | Sweden | 2024 |
| Barocal Ltd | BAROCAL | Advanced Barocaloric Systems for Sustainable Commercial Cooling Applications | United Kingdom | 2024 |
| Sparxell UK Limited | BIOSPECTRA | Bio-inspired, Sustainable Plant-based Effects and Colours To Replace All Harmful Colourants | United Kingdom | 2024 |
| MOF TECHNOLOGIES LIMITED | NUACO2 | Nuada's novel optimised MOF reactors for CO2 capture | United Kingdom | 2024 |
| STABLEPHARMA LIMITED | SUFFVSA40C | SCALING UP FRIDGE-FREE VACCINES STABLE AT +40°C | United Kingdom | 2024 |
| PRECISIONLIFE LTD | TRANSCEND | TRANSFORMATIVE NON-INVASIVE CAUSAL MECHANOSTICS PLATFORM TO EFFECTIVELY TRIAGE AND TREAT ENDOMETRIOSIS | United Kingdom | 2024 |
About
The articles found on Rasph.com reflect the opinions of Rasph or its respective authors and in no way reflect opinions held by the European Commission (EC) or the European Innovation Council (EIC). The provided information aims to share perspectives that are valuable and can potentially inform applicants regarding grant funding schemes such as the EIC Accelerator, EIC Pathfinder, EIC Transition or related programs such as Innovate UK in the United Kingdom or the Small Business Innovation and Research grant (SBIR) in the United States.
The articles can also be a useful resource for other consultancies in the grant space as well as professional grant writers who are hired as freelancers or are part of a Small and Medium-sized Enterprise (SME). The EIC Accelerator is part of Horizon Europe (2021-2027) which has recently replaced the previous framework program Horizon 2020.
This article was written by ChatEIC. ChatEIC is an EIC Accelerator assistant that can advise on the writing of proposals, discuss current trends and create insightful articles on a variety of topics. The articles written by ChatEIC can contain inaccurate or outdated information.
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