EIC Accelerator Results – February 2025 Update (October 2024 Cutoff)
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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EIC Accelerator March 2024 Results: A Detailed Analysis of Funding Distribution and Success Rates
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.
- Contact Us -
EIC Accelerator Articles
All Eligible EIC Accelerator Countries (including the United Kingdom, Switzerland and Ukraine)
Explaining the Resubmission Process for the EIC Accelerator
A Short but Comprehensive Explanation of the EIC Accelerator
The EIC’s One-Stop Shop Funding Framework (Pathfinder, Transition, Accelerator)
Deciding Between EIC Pathfinder, Transition and Accelerator
A Winning Candidate for the EIC Accelerator
The Challenge with EIC Accelerator Open Calls: MedTech Innovations Dominate
Go Fund Yourself: Are EIC Accelerator Equity Investments Necessary? (Presenting Grant+)
Digging Deep: The New DeepTech Focus of the EIC Accelerator and its Funding Bottlenecks
Zombie Innovation: EIC Accelerator Funding for the Living Dead
Smack My Pitch Up: Changing The Evaluation Focus Of The EIC Accelerator
How Deep Is Your Tech? The European Innovation Council Impact Report (EIC Accelerator)
Analyzing A Leaked EIC Accelerator Interview List (Success Rates, Industries, Direct Submissions)
Steering the EIC Accelerator: Lessons Learned from the Pilot Program
Who Should Not Apply To The EIC Accelerator And Why
The Risk of Presenting all Risks in the High-Risk EIC Accelerator Program
How to Prepare an EIC Accelerator Resubmission
How to Prepare a Good EIC Accelerator Application: General Project Advice
How to Craft an EIC Accelerator Rebuttal: Explaining Grant Proposal Resubmissions
Unveiling the Latest EIC Accelerator Results: A Comprehensive Analysis (November 8th 2023 Cut-Off, February 2024 Release)
The European Innovation Council (EIC) Accelerator program stands as a system of support for startups and Small- and Medium-Sized Enterprises (SMEs) across Europe, aiming to fuel innovation and technological advancement. With its latest results published on February 28th, 2024, the EIC Accelerator has once again demonstrated its commitment to fostering groundbreaking projects with a total budget allocation of €285 million. This analysis delves into the distribution of grants and blended financing, the success rates across different stages, and the geographical spread of the winning companies.
Funding Breakdown: A Closer Look at the Allocation
In the latest funding cycle, the EIC Accelerator has supported 42 companies, showcasing a diverse range of financing options tailored to meet the varied needs of Europe’s innovators. The distribution of funding types is as follows:
- Grant First: 12 companies (29%) were awarded grants as an initial funding step, highlighting the EIC’s flexibility in supporting early-stage innovations.
- Blended Finance: Dominating the funding landscape, 26 companies (62%) received blended finance, combining grants and equity to provide a robust backing for ventures ready to scale up.
- Equity Only: A single company (2%) secured equity financing, underscoring the EIC’s role in taking a stake in promising enterprises.
- Grant Only: 3 companies (7%) received grants without the equity component, focusing on projects with specific needs that can be met with direct funding.
The Path to Success: Analyzing the Success Rates
The EIC Accelerator’s selection process is rigorous, designed to identify projects with the highest potential impact. The success rates at each stage of the application process are as follows:
- Step 1: Approximately 70% of applicants pass this initial stage, though exact figures are not disclosed.
- Step 2: Only 22% of projects make it through, reflecting the increasing scrutiny applications undergo.
- Step 3: The final step sees a further narrowing, with a 17% success rate.
- Combined Success Rates: The cumulative success rate for applicants passing through Steps 2 and 3 is a mere 3.9%, while the overall success rate across all three stages is approximately 2.7%.
Geographical Diversity: A Pan-European Impact
The latest round of funding has benefited companies from 15 different countries, showcasing the EIC Accelerator’s pan-European reach. Germany leads the pack with 7 companies funded, followed closely by France with 6, and Spain and Sweden each with 5. Other countries with successful applicants include Finland (4), Italy (3), Israel (2), Netherlands (2), Norway (2), and several others with one company each, demonstrating the EIC’s commitment to fostering innovation across the continent.
Conclusion
The EIC Accelerator’s latest funding results highlight the program’s critical role in supporting the European innovation ecosystem. With a total budget of €285 million, the program has backed 42 companies across a wide range of sectors and countries, underlining the diversity and potential of Europe’s technological landscape. As the EIC Accelerator continues to evolve, its impact on fostering groundbreaking projects and scaling up SMEs is undeniable, making it a cornerstone of Europe’s innovation policy.
With meticulous attention to supporting diverse financing needs, rigorous selection processes, and a commitment to geographical inclusivity, the EIC Accelerator is paving the way for a more innovative and resilient Europe. As we look forward to future rounds of funding, the results from February 2024 serve as a testament to the vibrant entrepreneurial spirit that thrives across the continent.
Funding Data
Type of Funding
- Grant first: 12 companies (29%)
- Blended finance: 26 companies (62%)
- Equity only: 1 company (2%)
- Grant only: 3 companies (7%)
- Total: 42 Companies
Budget
- Total Budget: €285 million
Cut-Off Date and Results
- EIC Accelerator Step 2 cutoff date: November 8th 2023
- Publication of results: February 28th 2024
Success Rates
- Step 1: (approximately 70% since results are not published)
- Step 2: 22%
- Step 3: 17%
- Step 2 & Step 3 combined: 3.9%
- Step 1 & Step 2 & Step 3 combined: (approximately 2.7%)
Funded Countries
There are 15 different countries among the funded companies.
- Germany: 7 companies
- France: 6 companies
- Spain: 5 companies
- Sweden: 5 companies
- Finland: 4 companies
- Italy: 3 companies
- Israel: 2 companies
- Netherlands: 2 companies
- Norway: 2 companies
- Belgium: 1 company
- Bulgaria: 1 company
- Denmark: 1 company
- Ireland: 1 company
- Portugal: 1 company
- Slovakia: 1 company
All 42 EIC Accelerator Winners from November 8th 2023
| Company | Acronym | Description | Country | Year |
|---|---|---|---|---|
| D-CRBN BV | D-CRBN | Plasma-based point-source CCU technology to recycle CO2 into added value chemicals to decarbonize hard- to-abate industries | Belgium | 2023 |
| Smart Farm Robotix OOD | RoboAIweeder | A fully autonomous solar-powered lightweight weeding robot, using AI for plant recognition, precision contact and contactless weeding methods suited for hard soils, hilly terrains and arid climates. | Bulgaria | 2023 |
| Golden Devices GmbH | ACTIVATING | Additive Manufactured Automotive Antenna for Autonomous Driving | Germany | 2023 |
| UniverCell Holding GmbH | C2C-CSA | Customized 21700 cylindrical cells for special applications | Germany | 2023 |
| FERROELECTRIC MEMORY GMBH | Fe-NVRAM | Solving the scaling challenge of the memory industry: high-speed, low-complexity and low-cost non-volatile ferroelectric memory (Fe-NVRAM) made in EU | Germany | 2023 |
| QUBEDOT GMBH | iSMILE | iSMILE - integrated scalable microLED engines | Germany | 2023 |
| Lumoview Building Analytics GmbH | LumoGen1 | Pioneering automated building digitisation with Lumoview for empowered decision-making in energy- efficient building renovation | Germany | 2023 |
| Omegga GmbH | Omegga | The world's first low-cost in-ovo sexing solution to finally end chick culling | Germany | 2023 |
| O11 biomedical GmbH | RESPILIQ | RESPILIQ - enteral CO2 absorption for the therapy of hypercapnic lung failure | Germany | 2023 |
| HYME STORAGE APS | HYSE | HYdroxide Salt Energy Storage Innovation | Denmark | 2023 |
| AptaTargets, S.L. | ApTOLL | ApTOLL: An innovative neuroprotectant to reduce brain damage in Acute Ischemic Stroke (AIS) | Spain | 2023 |
| FASTBASE SOLUTIONS SOCIEDAD LIMITADA | IOO - Improving IO | IOO: a novel assay to predict patient response to immune checkpoint inhibitors, optimising patient stratification to these therapies and tripling solid tumour patient outcomes in immuno-oncology. | Spain | 2023 |
| LUXQUANTA TECHNOLOGIES SL | MIQRO | Scalable Quantum Cryptography for Ultra-secure Communications in Metropolitan Networks | Spain | 2023 |
| PLEXIGRID SOCIEDAD LIMITADA | Plexigrid | Plexigrid: Plexar Operated Grids | Spain | 2023 |
| ALIAS ROBOTICS S.L. | RIS | REVOLUTIONISING INDUSTRIAL ROBOTICS WITH THE NEXT GENERATION ROBOT-SPECIFIC AI-POWERED SECURITY PLATFORM | Spain | 2023 |
| IQM FINLAND OY | BIGQEC | Building industrial-grade quantum computers with error correction and mitigation capabilities | Finland | 2023 |
| SpinDrive Oy | MAGMA X100 | The smallest, most affordable and efficient active magnetic bearings for ultra-high-speed applications | Finland | 2023 |
| Basemark Oy | Rocksolid AR | Making Driving Safer with Augmented reality | Finland | 2023 |
| VEXLUM OY | SEMIQLEAP | Novel Semiconductor Lasers for the Industrial Quantum Leap | Finland | 2023 |
| Look Up Space | ATLAS2 | Acceleration Towards LEO Automatic Space Safety | France | 2023 |
| Defacto Technologies SAS | EmpoSoC | A Paradigm Change for System-on-Chip Design to Enable Higher Performance with Lower Time-to-Market and Cost | France | 2023 |
| ION-X | HYPERION | The Most Efficient Space Propulsion Ever Put in Space | France | 2023 |
| Qfluidics | QFLUIDICS | The first non-clogging continuous flow reactor technology | France | 2023 |
| Pertinent eco-solutions | VERANO | Groundbreaking biocontrol solutions for a resilient agriculture | France | 2023 |
| Womed SAS | WOMED | WOMED: an innovative intrauterine biodegradable polymer-based drug-delivery platform | France | 2023 |
| MBRYONICS LIMITED | StarCom OISL | StarCom Optical Inter-Satellite Link. | Ireland | 2023 |
| NECTIN THERAPEUTICS | NTX1088 | First-in-class anti-PVR mAb NTX1088 - a novel oncology drug that unlocks the power of human immune system and revolutionizes cancer care | Israel | 2023 |
| Novelrad | NVCD | Minimally invasive suturing for vascular bore closure and heart defect repair | Israel | 2023 |
| BETAGLUE TECHNOLOGIES S.P.A. | BAT-90 | A Novel ‘Radiotherapy from Within’ Platform Technology for the Targeted Treatment of Solid Tumours Called ‘BAT-90’ | Italy | 2023 |
| MOI COMPOSITES SRL | CFM4Industry | Continuous Fiber Manufacturing for Industry | Italy | 2023 |
| SILK BIOMATERIALS SRL | KLISBio | Silk fibroin tissue grafting for peripheral nerve repair | Italy | 2023 |
| FLASC B.V. | FLASC HPES | A novel Renewable Energy Storage System tailored for Offshore Applications | Netherlands | 2023 |
| SALVIA BIOELECTRONICS BV | ReLife | A new life for people with severe disabling cluster headache: Neuromodulation therapy using safe, minimally- invasive simultaneous stimulation at the front and back of the head | Netherlands | 2023 |
| DoMore Diagnostics AS | Histotype Px | Precision biomarker based on digital pathology and artificial intelligence to guide fast and cost-effective personalized treatment decision support for colorectal cancer patients | Norway | 2023 |
| Ocean Visuals AS | OWL | Hyper-Spectral Laser Induced Fluorescence LiDAR to detect Submerged Oil over Water in real-time on a molecular level. | Norway | 2023 |
| DELOX - INVESTIGACAO, PROCESSOS E EQUIPAMENTOS CIENTIFICOS, LDA | DeloxAir | Delox Air - Continuous air bio-decontamination compatible with human presence | Portugal | 2023 |
| Cellfion AB | CNF Membrane | Development and manufacturing of forest-based membranes for electrochemical energy devices | Sweden | 2023 |
| Compular AB | COMPULAR | Advanced Simulation Software With Patented Method Optimised For Battery Development | Sweden | 2023 |
| Millow AB | MEATLOW | Innovative patented dry fermentation technology for cost-effective and highly nutritious production of hybrid mycelium-plant meat analogues | Sweden | 2023 |
| GEDEA BIOTECH AB | pHyph | Breakthrough dual-action OTC tablet for treatment and prevention of both bacterial and fungal vaginitis | Sweden | 2023 |
| QLUCORE AB | QIandQD | The first IVDR-approved commercial software solutions for AI-powered RNA-based companion and precision cancer diagnostics of acute myeloid leukaemia and bladder cancer | Sweden | 2023 |
| POWERFUL MEDICAL s. r. o. | OMI AI ECG Model | OMI AI ECG Model - application for more accurate heart attack diagnosis | Slovakia | 2023 |
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.
- Contact Us -
EIC Accelerator Articles
All Eligible EIC Accelerator Countries (including the United Kingdom, Switzerland and Ukraine)
Explaining the Resubmission Process for the EIC Accelerator
A Short but Comprehensive Explanation of the EIC Accelerator
The EIC’s One-Stop Shop Funding Framework (Pathfinder, Transition, Accelerator)
Deciding Between EIC Pathfinder, Transition and Accelerator
A Winning Candidate for the EIC Accelerator
The Challenge with EIC Accelerator Open Calls: MedTech Innovations Dominate
Go Fund Yourself: Are EIC Accelerator Equity Investments Necessary? (Presenting Grant+)
Digging Deep: The New DeepTech Focus of the EIC Accelerator and its Funding Bottlenecks
Zombie Innovation: EIC Accelerator Funding for the Living Dead
Smack My Pitch Up: Changing The Evaluation Focus Of The EIC Accelerator
How Deep Is Your Tech? The European Innovation Council Impact Report (EIC Accelerator)
Analyzing A Leaked EIC Accelerator Interview List (Success Rates, Industries, Direct Submissions)
Steering the EIC Accelerator: Lessons Learned from the Pilot Program
Who Should Not Apply To The EIC Accelerator And Why
The Risk of Presenting all Risks in the High-Risk EIC Accelerator Program
How to Prepare an EIC Accelerator Resubmission
How to Prepare a Good EIC Accelerator Application: General Project Advice
How to Craft an EIC Accelerator Rebuttal: Explaining Grant Proposal Resubmissions
