FIND THE LATEST RESULTS HERE

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:

1. Germany – 15 companies (21.1%)
2. Netherlands – 11 companies (15.5%)
3. Sweden – 7 companies (9.9%)
4. Spain – 6 companies (8.5%)
5. France – 5 companies (7%)
6. United Kingdom – 5 companies (7%)
7. Finland – 4 companies (5.6%)
8. Israel – 4 companies (5.6%)
9. Belgium – 3 companies (4.2%)
10. Italy – 3 companies (4.2%)
11. Austria – 2 companies (2.8%)
12. Denmark – 2 companies (2.8%)
13. 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 3^rd 2024
• Published results date: February 17^th 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:

1. Germany (15 companies and 21.1%)
2. Netherlands (11 companies and 15.5%)
3. Sweden (7 companies and 9.9%)
4. Spain (6 companies and 8.5%)
5. France (5 companies and 7%)
6. United Kingdom (5 companies and 7%)
7. Finland (4 companies and 5.6%)
8. Israel (4 companies and 5.6%)
9. Belgium (3 companies and 4.2%)
10. Italy (3 companies and 4.2%)
11. Austria (2 companies and 2.8%)
12. Denmark (2 companies and 2.8%)
13. Bulgaria (1 companies and 1.4%)
14. Luxembourg (1 companies and 1.4%)
15. Poland (1 companies and 1.4%)
16. Portugal (1 company and 1.4%)

2024 Total Results

• Proposed Budget: €675 million
• Actual Budget: €672 million
• Funded Companies: 113

All EIC Accelerator Winners