The European Innovation Council (EIC) Accelerator has witnessed an unprecedented surge in interest from startups and SMEs seeking funding, with the recent October cut-off receiving a record-breaking 1211 full applications
This marks the highest number of submissions since the EIC’s inception under Horizon Europe.
What is the European Innovation Council Accelerator?
The EIC Accelerator is a funding programme under Horizon Europe that offers support to start-ups and SMEs.
The EIC accelerator is to help develop and scaleup innovations with the potential to create new markets or disrupt existing ones (TRL 5-9)
Who can apply, and what grants are there?
Start-ups and SMEs, individuals intending to launch a SME and small mid-caps (can apply for equity only).
Up to €2.5 million of grants, up to €15 million of equity investments, coaching & mentoring, networking.
€8.875 billion in funding
The applications, collectively requesting €8.875 billion in funding, showcase the growing demand for innovative solutions and the EIC’s role in supporting cutting-edge technologies.
Blended finance, combining grants and equity investments, remains highly popular, with 898 companies (74% of applicants) opting for this funding model.
The European Innovation Council Accelerator’s appeal is evident in the diverse range of applicants, with 32% being led by women and companies originating from 35 different countries. Germany, Israel, and France emerged as the countries with the highest number of participants.
Moving forward, the submitted proposals will undergo a rigorous evaluation process by independent experts. The top-performing companies will have the opportunity to pitch their ideas to a jury of investors and business experts in January 2025.
Funding for 2025
Final funding decisions are anticipated by the end of February, with selected companies eligible for equity support from the EIC Fund.
While the October cut-off marks the conclusion of funding opportunities for 2024, the European Innovation Council is set to announce new funding programs and application deadlines in its 2025 work program, expected to be adopted by the end of this year. Short applications, providing access to the full application stage, will remain open throughout the year.
