The EIC Accelerator has recently released its latest cut-off results (europa.eu). The dataset reveals insightful details about the funding distribution, success rates, and geographical spread of the companies that received financial backing. This article delves into the key aspects of the EIC Accelerator, examining the distribution of funding types, the total budget, success rates at different stages of the selection process, and the geographical diversity of the funded companies.
Funding Distribution
Types of Funding
The EIC Accelerator primarily supported companies through a mix of equity and grants:
- Blended Finance: 65 companies (95.6%)
- Equity Only: 1 company (1.5%)
- Grant Only: 2 companies (2.9%)
- Total: 68 Companies
The predominant mode of support was through blended finance, which combines both equity and grant funding. This approach enables companies to benefit from the immediate financial relief of grants while also leveraging equity investment for long-term growth.
Budget Allocation
The total budget allocated for the EIC Accelerator was €411 million, distributed as follows:
- Grant Budget: €165 million
- Equity Budget: €245 million
This budget allocation reflects a balanced approach to funding, ensuring that companies receive substantial support through both grants and equity investments.
Average Funding Amounts
The EIC Accelerator provided varying ticket sizes for grants and equity:
- Average Ticket Size: €6.04 million
- Average Grant: €2.46 million
- Average Equity: €3.71 million
These average amounts indicate a strategic allocation of funds designed to provide sufficient capital for companies to scale their operations effectively.
Application and Selection Process
Key Dates
The timeline for the application and selection process was as follows:
- Grant Application Cutoff Date: March 13th, 2024
- Published Results Date: July 15th, 2024
Success Rates
The selection process was highly competitive, with a multi-stage evaluation:
- Step 2: 969 submissions, 347 (35.6%) passed
- Step 3: 347 interviews, 68 (19.6%) were funded
- Combined Success Rate for Step 2 & 3: 7%
These statistics highlight the rigorous selection process, ensuring that only the most promising and innovative companies received funding.
Geographical Distribution
The EIC Accelerator funded companies from 17 different countries, showcasing a diverse geographical spread:
- Germany: 13 companies (19.1%)
- France: 13 companies (19.1%)
- Israel: 9 companies (13.2%)
- Netherlands: 6 companies (8.8%)
- Spain: 6 companies (8.8%)
- Finland: 4 companies (5.9%)
- Sweden: 4 companies (5.9%)
- Greece: 2 companies (2.9%)
- Italy: 2 companies (2.9%)
- Belgium: 2 companies (2.9%)
- Norway: 1 company (1.5%)
- Ireland: 1 company (1.5%)
- Estonia: 1 company (1.5%)
- Austria: 1 company (1.5%)
- Denmark: 1 company (1.5%)
- Croatia: 1 company (1.5%)
- Portugal: 1 company (1.5%)
Germany and France led the list with the highest number of funded companies, each hosting 19.1% of the total funded projects. This was followed by Israel with 13.2%, and the Netherlands and Spain each contributing 8.8%.
Conclusion
The EIC Accelerator represents a substantial investment in innovation across Europe and Israel, with a total budget of €411 million. The majority of the funding was allocated through blended finance, supporting a diverse range of companies from 17 countries. The competitive selection process underscores the high standards applied to choose the most promising ventures. As the funded companies progress, this initiative is poised to drive significant advancements in their respective fields, fostering growth and development within the European and Israeli innovation ecosystems.
The published results, made available on July 15th, 2024, mark the beginning of a new chapter for these 68 companies, supported by a strategic blend of grants and equity investments.
All Funded Companies
| Company | Acronym | Description | Country | Year |
|---|---|---|---|---|
| LightSolver Ltd | LightSolver | An All-Optical computer for solving Hard Optimization Problems | Israel | 2024 |
| Ore Energy | F-AIR BAT | The first European scalable, ultra-cheap and easily deployable long-duration energy storage solution, based on iron, water and air - The missing link to accelerate the EU's energy transition. | Netherlands | 2024 |
| KITEMILL AS | AWE-KM2 | Airborne Wind Energy: Innovative KM2 AWE System by Kitemill | Norway | 2024 |
| ARGO IMIAGOGOI ANONYMI ETAIREIA*ARGO SEMICONDUCTORS SOCIETE ANONYME | Argo Active Antenna | Development finalization and optimization of Argo Semi Active Antenna Catalyst to revolutionize sub-6GHz 5G wireless systems | Greece | 2024 |
| Phaseform GmbH | DeltaSTAR | Deformable Phase Plates for Adaptive Optics applied to Ophthalmology and Microscopy | Germany | 2024 |
| Hyperion Robotics Oy | 3Dgeocarbon | Carbon negative concrete 3D printing | Finland | 2024 |
| INSPEK | MultiSpek | An innovative on-chip multi-sensing platform for single-use biopharmaceutical applications | France | 2024 |
| ABSOLUT SENSING | AIM | Accelerating breakthrough Innovation to monitor, control and reduce Methane emissions. | France | 2024 |
| Onego Bio Ltd | Bioalbumen | Novel precision fermentation process to produce animal-free bioidentical ovalbumin | Finland | 2024 |
| VAXDYN SL | K-VAX | Clinical validation of an antibiotic-resistant bacteria global vaccine platform through the first vaccine against Klebsiella pneumoniae | Spain | 2024 |
| JAXBIO TECHNOLOGIES LTD | LUMEN | INNOVATIVE LIQUID BIOPSY METHOD USING LAB-ON-ACHIP TECHNOLOGY FOR CANCER DIAGNOSIS AND MANAGEMENT | Israel | 2024 |
| MULTI4 MEDICAL AB | Multi4 | Multi4 - the first surgical instrument for bladder cancer treatment through a 20-minute outpatient procedure | Sweden | 2024 |
| AURA AERO SAS | ERA | ERA - Electric Regional Aircraft | France | 2024 |
| LATITUDE | ZEPHYR | Development of an innovative GPM for the ZEPHYR microlauncher | France | 2024 |
| INTEGRA THERAPEUTICS S.L. | FiCAT | Next generation gene writing platform to cure genetic and oncological diseases | Spain | 2024 |
| Atamyo Therapeutics | ATA-100 | Smart, organotropic gene therapy designed for optimised efficacy, patient safety and affordability to treat limb-girdle muscular dystrophy-R9 | France | 2024 |
| Carbon Atlantis GmbH | CAPTURE | Carbon Atlantis Project to Undo Residual Emissions - construction and deployment of a minimum viable product the Gen3 stack capable of capturing 500 tonnes CO2 per year from the air. | Germany | 2024 |
| Solmeyea | C - 2C - Protein | Inspiring CO2 circularity by introducing carbon transformation to our plates | Greece | 2024 |
| NoPalm Ingredients BV | NoPalm Oil | A unique fermentation platform for the production of a local, circular, and sustainable alternative to palm oil from bio-waste streams | Netherlands | 2024 |
| ALTRATECH LIMITED | UbiHealth | Transforming Molecular Diagnostics through NanoTechnology | Ireland | 2024 |
| EYE4NIR srl | CHEERS | Chip-scALe visiBLE-iNfrared imaGing sEnsor | Italy | 2024 |
| Nurami Medical Ltd | Nurami | Medical nanofiber technology to prevent cerebrospinal leakage in neurosurgeries | Israel | 2024 |
| NEARFIELD INSTRUMENTS B.V. | AUDIRA | Non-Destructive Fully Automated Subsurface Metrology and Inspection for the Semiconductor Industry | Netherlands | 2024 |
| Chipiron SAS | AMRI | Accessible MRI | France | 2024 |
| tozero GmbH | ToZero | Bringing Lithium-Ion Battery Waste tozero | Germany | 2024 |
| Bio-Sourcing | BioMilk-mAb | The scale-up of the BioMilk platform: The revolutionary approach to manufacturing of biopharmaceuticals | Belgium | 2024 |
| CHERRY BIOTECH | ASTEROID | Multi-organ toxicity and efficacy test platform for Personalized medicine & Drug development | France | 2024 |
| Ceramic Data Solutions Holding GmbH | Cerabyte | Cerabyte - a ceramic data storage system for global IT & cloud service provider | Germany | 2024 |
| Mifundo OÜ | EU-CREDIT-AI | Verified and Passportable Financial Identity | Estonia | 2024 |
| PHARROWTECH | SWIFT | Next-Gen Wireless Chip and Antenna Tech for Wi-Fi 8 | Belgium | 2024 |
| KIUTRA GMBH | CRYOFAST | Democratizing Cryogenic Measurements for the Quantum Ecosystem | Germany | 2024 |
| FononTech Holding B.V. | Impulse Printing | The first-ever mask-based technology for faster, precise, and sustainable printing of 3D interconnects for the display and semiconductor packaging industry. | Netherlands | 2024 |
| BUILD TO ZERO ENERGY SOCIEDAD LIMITADA | ThermalBox | A Power-to-Heat Long Duration Energy Storage for decarbonizing the industrial thermal processes | Spain | 2024 |
| SPACEPHARMA R&D ISRAEL LTD | SPACTORY | SPACTORY, revolutionising pharmaceutical development and manufacturing through microgravity | Israel | 2024 |
| DIAMANTE SOCIETA BENEFIT S.R.L | DIAMANTE | Revolutionizing Autoimmune Therapy: Antigen Specific Immunotherapy for Rheumatoid Arthritis with Virus Nanoparticles | Italy | 2024 |
| Omini | CardioCap | The first heart failure therapy management point-of-care device with multiplex and multimodal sensor | France | 2024 |
| Deployables Cubed GmbH | ISM4Europe | In-Space Manufactured Solar Array providing highly cost-efficient power generation for SmallSats and In- Orbit Servicing; enabling European non-dependence and competitiveness in space technologies | Germany | 2024 |
| Spherical Systems B.V. | SPHERICAL | High-performance Satellite Avionics Powered by Agile Semiconductor Design. | Netherlands | 2024 |
| QUIX QUANTUM BV | QUQUP | QuiX Quantum Universal Quantum Processor | Netherlands | 2024 |
| Raidium | FoundRa | Foundation Model-Based Biomarker Platform for Radiology and Clinical Trials | France | 2024 |
| BLIXT TECH AB | X-Verter | X-Verter®: Cell-level Controlled Battery System enabling software defined power | Sweden | 2024 |
| VCG.AI GmbH | VCG | Value chain generator to accelerate the European transition to circular economy | Germany | 2024 |
| ECOP TECHNOLOGIES GMBH | RHPK7 | RΕΗΕΑΤ: REcycled industrial HEAT | Austria | 2024 |
| Turn Energy GmbH | Turn2X | Decarbonising industry with Renewable Natural Gas | Germany | 2024 |
| Reophotonics | io600 | A cutting-edge digital dispensing system for next-gen electronics manufacturing | Israel | 2024 |
| APMONIA THERAPEUTICS | ACT-MATRIX | Novel peptide-based therapeutics for reprogramming the tumour stroma extracellular matrix using molecular modelling and computational engineering | France | 2024 |
| Impact Biotech Ltd. | IMPACT | Immune Photo-Activated Cancer Therapy for the Treatment of Upper Tract Urothelial Cancer (UTUC) and other solid tumours | Israel | 2024 |
| Catalyxx Procesos Catalíticos, SL | RenewChem | First of a kind bio n-butanol industrial facility | Spain | 2024 |
| RAAAM Memory Technologies Ltd. | GCRAM | Full qualification, testing and commercial deployment of a unique on-chip memory technology offering the highest-density embedded memory in a standard CMOS process | Israel | 2024 |
| QC Design | QPRINTS | Fault-Tolerant Architectures and Software for Scalable Quantum Computers | Germany | 2024 |
| QUANTUM TRANSISTORS TECHNOLOGY | QUANTITATIVE | A MILLION QUBIT QUANTUM COMPUTER - HIGHLY SCALABLE SOLID STATE QUANTUM COMPUTING PLATFORM WITH NATIVE OPTICAL NETWORKING | Israel | 2024 |
| Last Mile Semiconductor GmbH | SECURE-E | Secure and Efficient Chipset for Uninterrupted Reliable Connectivity in Europe | Germany | 2024 |
| WELINQ SAS | SQOUT | Scaling-up quantum computers with quantum memory links | France | 2024 |
| Ingenious Membranes S.L. | Excalibur | Unlocking operational excellence in water desalination plants by nanoscale fouling sensor technology | Spain | 2024 |
| Proxima Fusion GmbH | CSFPP | Current-free Stellarator for Fusion Power Plants | Germany | 2024 |
| MELT&MARBLE AB | Melt and Marble | Harnessing the immense potential of precision fermentation to produce animal fats for the next generation of meat and dairy alternatives | Sweden | 2024 |
| Delta Cygni Labs Oy | XRTC | Reliable, Efficient and Fast Industrial Internet: A High-Resilience, Low-Latency API acceleration for global and interplanetary industrial services | Finland | 2024 |
| Dunia Innovations UG | Dunia.ai | Accelerating the discovery of high-performance electrocatalysts through artificial intelligence and robotics technology | Germany | 2024 |
| PharmNovo AB | PN6047-DOBRA | PN6047 - a breakthrough treatment of neuropathic pain | Sweden | 2024 |
| FYCH TECHNOLOGIES SL | ReMLP | ReMLP: Recycling Multi-Layer Plastic | Spain | 2024 |
| Marvel Fusion GmbH | CFE-NANO | Commercial Fusion Energy with Short-Pulse High-Intensity Lasers and Nanostructured Fuel Targets | Germany | 2024 |
| IMPLICITY | SignalHF | Development and clinical evaluation of an end-to-end Heart Failure management solution powered by predictive AI | France | 2024 |
| TILT BIOTHERAPEUTICS OY | 2-CREATE | Phase II trial with Immune Checkpoint Response Enabling Adenovirus Technology | Finland | 2024 |
| Skypuzzler ApS | Skypuzzler | Skypuzzler – Solving the puzzle in the sky | Denmark | 2024 |
| LACLAREE | I-SEE | INNOVATIVE SOLUTION OF ELECTRO-FOCUS EYEGLASSES | France | 2024 |
| GENERA ISTRAZIVANJA DRUSTVO S OGRANICENOM ODGOVORNOSCU ZA PROIZVODNJU BIOTEHNOLOSKIH PROIZVODA | OSTEOforUNION | Drug solution for bone fracture nonunions | Croatia | 2024 |
| MediWound Ltd. | ESXDFU | REVOLUTIONIZING DFU TREATMENT: ESCHAREX - A GAME-CHANGING SOLUTION | Israel | 2024 |
| BESTHEALT H4U UNIPESSOAL LDA | Bio2Skin | Bio2Skin, the first clinically skin-preserving biomaterial replacing silicones/acrylate as medical skin adhesives | Portugal | 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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