The numbers for the last EIC Accelerator 2024 deadline in October are in

The numbers for the final EIC Accelerator application deadline, which ended at 5pm on 3 October 2024, have been eagerly anticipated. A press release from the EIC speaks of a record number. The number of applications for EIC Accelerator grants and equity has never been higher since the EIC funding instrument was launched under Horizon Europe.

A total of 1,211 complete applications from start-ups and SMEs were submitted for the EIC Accelerator by the last deadline, with a total of €8.875 billion in grant requested. Blended finance, which is a combination of a grant, i.e. a non-repayable subsidy, and equity, is by far the most popular form of funding. For this application deadline, 898 companies, or around 74%, applied for blended finance.

Almost a third of the applications come from companies run by women in positions such as CEO, CTO or CSO. The applications originate from companies based in a total of 35 different EU and widening EU countries. This time, most of the applicants are from Germany, Israel and France.

What happens next in the application process?

The applications are now being evaluated by independent evaluators. The top-ranked companies will then be invited to present themselves to a jury of investors and business experts between January 20 and 24, 2025. The final decision on which companies will receive funding from the EIC Accelerator will only be made after the interview phase, which is now taking place again in Brussels. The winners of the EIC Accelerator will be announced by the EIC at the end of February 2025. Companies selected for equity support refer to the EIC Fund for investment decisions.

Background information on the EIC Accelerator

The EIC Accelerator is a particularly attractive funding instrument of the European Innovation Council (EIC). Deeptech start-ups and SMEs receive a grant of up to €2.5 million combined with equity of up to €15 million. In addition, the companies financed by the EIC Accelerator benefit from access to a wide range of business acceleration services. Applicants receive coaching and mentoring as well as invitations to regular trade conferences and matchmaking events.

Do you want to sign up for the EIC Accelerator?

Since the official launch of the EIC Accelerator funding programme, 12,000 start-ups have signed up for funding. The application process for the EIC Accelerator is a three-stage process. In the first stage, an outline with a pitch deck and video must be submitted. If the outline hits the mark in terms of excellence, socio-economic and ecological impact and risk, you will be invited to submit a full proposal by the submission deadline. There are usually two deadlines for full proposals per year, one in spring and one in fall. The next deadline for full proposals is expected to be in March 2025. If you pass the second application step, you will be invited to a pitch interview in Brussels. After that, the jury will decide whether your project idea is a candidate for the EIC funding.

Do you have an idea and wonder whether it is suitable for the EIC Accelerator? Or do you already have a specific project and want to start the application process right away? Then contact us. EurA has been involved in the programme since its launch in 2014 and, with over 200 applications, is the market leader in the EIC Accelerator and one of the largest consulting firms in Germany. Feel free to contact us.

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